Portland, OR, Jan. 18, 2023 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global cable joints market garnered $16.1 billion in 2021, and is estimated to generate $31.5 billion by 2031, manifesting a CAGR of 6.9% from 2022 to 2031. The report provides an extensive analysis of changing market dynamics, major segments, value chain, competitive scenario, and regional landscape. This research offers a valuable guidance to leading players, investors, shareholders, and startups in devising strategies for the sustainable growth and gaining competitive edge in the market.
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Report Coverage & Details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $16.1 billion |
| Market Size in 2031 | $31.5 billion |
| CAGR | 6.9% |
| No. of Pages in Report | 225 |
| Segments covered | Type, Voltage, Industry Vertical, and Region. |
| Drivers | Surge in industrialization & urbanization in emerging economies |
| Rise in government initiatives to expand or upgrade transmission & distribution systems | |
| The rapid development and investments in the renewable energy sector | |
| Opportunities | The increase in investments in the electrification of remote & rural areas |
| Restraints | High failure rate of medium voltage cable accessories |
Covid-19 Scenario:
- The outbreak of the COVID-19 pandemic had a negative impact on the growth of the global cable joints market, owing to implementation of global lockdown which resulted to have a significant impact on prime players operating in the supply chain.
- However, the rise in demand for renewable energy solutions across prime sectors was one of the major factors that propelled the market growth during the COVID-19 pandemic.
The research provides detailed segmentation of the global cable joints market based on Type, Voltage, Industry Vertical, and region. The report discusses segments and their sub-segments in detail with the help of tables and figures. Market players and investors can strategize according to the highest revenue-generating and fastest-growing segments mentioned in the report.
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Based on type, the outdoor segment held the highest share in 2021, accounting for more than two-thirds of the global cable joints market, and is expected to continue its leadership status during the forecast period. However, the indoor segment is expected to register the highest CAGR of 7.0% from 2022 to 2031.
Based on voltage, the high voltage segment accounted for the highest share in 2021, contributing to more than two-fifths of the global cable joints market, and is expected to maintain its lead in terms of revenue during the forecast period. However, the medium voltage is expected to manifest the highest CAGR of 7.9% from 2022 to 2031.
Based on industry vertical, the energy and power segment accounted for the highest share in 2021, holding more than one-fourth of the global cable joints market, and is expected to continue its leadership status during the forecast period. In addition, the same segment is estimated to grow at the highest CAGR of 8.0% during the forecast period.
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Based on region, Asia-Pacific held the largest share in 2021, contributing to more than two-fifths of the global cable joints market share, and is projected to maintain its dominant share in terms of revenue in 2031. In addition, the same region is expected to manifest the fastest CAGR of 7.3% during the forecast period. The research also analyzes regions including North America, Europe, and LAMEA.
Leading market players of the global cable joints market analyzed in the research include Nexans S.A., TE Connectivity Ltd., Fujikura, Prysmian Group (General Cable), 3M, NKT (NKT A/S), ABB Ltd, Yamuna Power & Infrastructure Ltd, Cable Jointer Solutions, and Connect Cable Accessories Co., Ltd.
The report provides a detailed analysis of these key players of the global cable joints market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
Key Benefits for Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the cable joints market analysis from 2021 to 2031 to identify the prevailing cable joints market opportunities.
- Market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders to make profit-oriented business decisions and strengthen their supplier-buyer network.
- An in-depth analysis of the cable joints market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes an analysis of the regional as well as global cable joints market trends, key players, market segments, application areas, and market growth strategies.
Cable Joints Market Key Segments:
Type
- Indoor
- Outdoor
Voltage
- High Voltage
- Low Voltage
- Medium Voltage
Industry Vertical
- Industrial
- Aerospace and defense
- Oil and gas
- Energy and Power
- IT and Telecommunication
- Others
By Region
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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