Market Size of Cable Glands Industry
Study Period | 2019 - 2029 |
Market Size (2024) | USD 1.96 Billion |
Market Size (2029) | USD 2.63 Billion |
CAGR (2024 - 2029) | 6.02 % |
Fastest Growing Market | Asia Pacific |
Largest Market | North America |
Major Players*Disclaimer: Major Players sorted in no particular order |
Need a report that reflects how COVID-19 has impacted this market and its growth?
Cable Glands Market Analysis
The Cable Glands Market size is estimated at USD 1.96 billion in 2024, and is expected to reach USD 2.63 billion by 2029, growing at a CAGR of 6.02% during the forecast period (2024-2029).
The outbreak of COVID-19 resulted in various supply chain challenges for manufacturers across the world, which had a similar impact on the cable glands market as well.
Vendors operating in the market were faced with shortages and price fluctuations in raw material supply and a shortage of investments from end-users and venture capitalists. For instance, according to the United Nations Conference on Trade and Development (UNCTAD) estimations, the pandemic caused a global FDI shrinking by 5-15% owing to the downfall in manufacturing coupled with factory shutdown.
- Over the last few decades, cable glands have emerged as one of the primary components of cable management systems and are widely being used in several industrial and hazardous environments.
- The growth in the cable management systems market is a significant driver stimulating the need for cable glands. With the expansion of physical infrastructure, the demand for suitable cable management solutions is also rising. Also, with the advancement in the telecom sector, cable glands are also becoming a necessary component to connect the cables transferring data.
- The market growth is also fueled by growing construction activities, globally. To boost economic conditions, most of the emerging countries are investing hugely in infrastructure development. Hence, the construction and refurbishment of public and private installations have also propelled the need for secure cable connections, thus, driving the demand for cable glands.
- In the automotive sector, the growing number of vehicles that are being manufactured and the growth of electric vehicles are estimated to boost the market. These factors are also fueling the demand for cable glands in the manufacturing and process industries. The increasing development of smart grids and growing exploration in the oil and gas sector also offers a massive opportunity for the studied market to grow.
Cable Glands Industry Segmentation
Cable glands can broadly be defined as mechanical fittings that form a part of electrical installation systems. They enable high levels of barrier protection and insulation. These systems are used in conjunction with power cables, wires, and probes. The primary purpose of these systems is to seal cables and maintain the ingress protection of enclosures.
Type | |
Non-Hazardous Area Cable Glands | |
Hazardous Area Cable Glands |
Cable Type | |
Armored Cable Glands | |
Unarmored Cable Glands |
Materials Used | |
Brass | |
Aluminium | |
Plastic | |
Stainless Steel | |
Other Material Types |
End-user Industry | |
Aerospace | |
Construction | |
Manufacturing And Processing | |
Oil and Gas | |
Power and Utilities | |
Other End-user Industries (Marine, Mining, Chemicals) |
Geography | |
North America | |
Europe | |
Asia Pacific | |
Latin America | |
Middle East and Africa |
Cable Glands Market Size Summary
The cable glands market is poised for significant growth, driven by the increasing demand for cable management systems across various industries. As essential components in managing and securing cable connections, cable glands are becoming increasingly vital in industrial, hazardous, and telecom environments. The expansion of physical infrastructure and advancements in the telecom sector are key factors propelling the market. Additionally, the automotive industry's shift towards electric vehicles and the growing development of smart grids and oil and gas exploration present substantial opportunities for market expansion. The construction boom, particularly in emerging economies, further fuels the demand for secure cable connections, enhancing the market's growth trajectory.
In North America, the demand for technologically advanced equipment is a major driver of the cable glands market, with the United States leading due to its robust construction, manufacturing, and energy sectors. The rise in solar power adoption, supported by government incentives, is expected to increase the demand for reliable cable glands to ensure energy grid stability. The competitive landscape is fragmented, with numerous vendors globally, including major players in the United States and Europe. Companies are focusing on product innovation and strategic mergers to gain a competitive edge. Recent developments, such as CMP Products Ltd's approval for hazardous area cable glands in South Africa and Cortem SPA's expansion of cable gland offerings, highlight the dynamic nature of the market.
Cable Glands Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Industry Attractiveness - Porter's Five Forces Analysis
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1.2.1 Bargaining Power of Suppliers
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1.2.2 Bargaining Power of Buyers/Consumers
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1.2.3 Threat of New Entrants
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1.2.4 Threat of Substitute Products
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1.2.5 Intensity of Competitive Rivalry
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1.3 Market Drivers
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1.3.1 Upgrading and Renewal of Existing Networks in Developed Economies
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1.3.2 Surge in Construction Industry Globally
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1.4 Market Restraints
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1.4.1 Fragmentation in the Regional Markets
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1.4.2 Volatility in Raw Material Prices
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1.5 Impact of COVID-19 on the Market
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2. MARKET SEGMENTATION
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2.1 Type
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2.1.1 Non-Hazardous Area Cable Glands
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2.1.2 Hazardous Area Cable Glands
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2.2 Cable Type
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2.2.1 Armored Cable Glands
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2.2.2 Unarmored Cable Glands
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2.3 Materials Used
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2.3.1 Brass
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2.3.2 Aluminium
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2.3.3 Plastic
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2.3.4 Stainless Steel
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2.3.5 Other Material Types
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2.4 End-user Industry
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2.4.1 Aerospace
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2.4.2 Construction
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2.4.3 Manufacturing And Processing
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2.4.4 Oil and Gas
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2.4.5 Power and Utilities
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2.4.6 Other End-user Industries (Marine, Mining, Chemicals)
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2.5 Geography
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2.5.1 North America
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2.5.2 Europe
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2.5.3 Asia Pacific
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2.5.4 Latin America
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2.5.5 Middle East and Africa
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Cable Glands Market Size FAQs
How big is the Cable Glands Market?
The Cable Glands Market size is expected to reach USD 1.96 billion in 2024 and grow at a CAGR of 6.02% to reach USD 2.63 billion by 2029.
What is the current Cable Glands Market size?
In 2024, the Cable Glands Market size is expected to reach USD 1.96 billion.