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 |
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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.
