The rapid industrialization, over the last few decades, has led to the genesis of various end-user industries such as petrochemical, automotive, construction, electronics, aerospace, and defense, in every potential area across the globe. These industries run on multifarious equipment and control systems that use various types of cables and wirings for the transfer of power or communication signals. The prerequisite to ensure proper cable guarding, insulation, bonding, earthing and transmission of power has led to the deployment of cable management systems. Cable gland, is one of the most imperative components of the cable management system, is thus gaining traction from end-user industries. The cable glands are used in synchrony with power cables, probes, and wires to seal cables and secure them to the equipment. Moreover, the emergence of the Industry 4.0 revolution, which focuses heavily on automation, IoT, and real-time data and marries physical production and operations with them, to create a more holistic and better-connected ecosystem for manufacturing companies, has escalated the need for reliable transmission of power and data signals. This, in turn, is increasing the demand for cable management systems. Thus the growth in cable management systems is considered to be a significant driver for cable glands. The abundance and low price of plastic across the world has made it a suitable raw material for manufacturing cable glands. The ease of availability of plastic can be fathomed from the statistics by PlasticsEurope, according to which the world plastic production almost reached 350 million tons in 2017. Moreover, properties of plastic such as lightweight, ductility, wear-resistance, corrosion resistance, and electrical resistance, has instigated the cable gland manufacturers to prefer plastic over other materials. Thus, the plastic cable glands market is considered to grow at an alluring rate. Additionally, the government regulations and mandates such as IEC SC 23A, NFPA 70, and EN 61537, pertaining to the management of power and communication cables, are further proliferating the demand for the plastic cable glands in end-user industries.

The global plastic cable gland market has been estimated to attain a remarkable size of $176 million in 2018. Foreseeing the adoption of cable glands in several industrial and hazardous environments to ensure cable protection and reliable power transmission, the plastic gland market is poised to project at a standard CAGR of 8.4% during the forecast period 2019-2025.

Booming Construction Industry Offering Sharp Growth Avenues for the Plastic Cable Gland Market Growth—

The incessantly increasing global construction activities are considered to be one of the eminent factors fuelling the demand for cable glands during the forecast period. Plastic cable glands are extensively used in electrical panels, junction boxes, and with power connectors in buildings. Therefore, the growing residential housing and commercial building constructions will eventually catapult the demand for plastic cable glands. On the back of industrialization and urbanization, there has been a steady growth in global construction activities. According to International Finance Corporation (IFC), a member of the World Bank Group, the global construction industry is projected to propel at 4.2% annually between 2018 and 2023 in terms of market value. Thus the rising residential, nonresidential, and infrastructure construction activities are considered to create growth opportunities to the plastic cable glands market.

Power and Energy Sector Emerges as the Key Application Segment amidst Providing Demand Influx in the Plastic Cable Gland Market—

On the basis of end-use industries, the plastic cable gland market is segmented into manufacturing and processing, telecommunication, marine, power and energy, railways, electronics, and construction. Among these, the power and energy sector is contemplated to be the key application segment during the forecast period. This industry involves in generation and transmission of power and therefore utilizes cables and cable management tools such as cable glands. These plastic cable glands are used for sealing the cable and preventing the entry of contaminants such as dust, dirt and fluids which may cause damage to the cable and electrical system apart from other functions such as such as earthing, bonding, insulation and cable guarding in power networks, renewable energy networks, underground power networks, solar plants, and wind turbines. With a growing population and rapid urbanization, the demand for electricity is increasing significantly. As per the statistics by the International Energy Agency (IEA), in 2018, the global electricity demand upheaved by 4% increasing nearly as twice as the overall demand for energy. The hefty demand for electricity, in turn, instigated the governments of different nations to develop power generation and transmission projects. Thus the incessantly growing power and energy industry are expected to create the prime impetus to the growth of the plastic cable gland market. Therefore, the key application segment is poised to propel at a CAGR of 7.8% through to 2025.

Plastic Cable Gland Market Leveraging on Bolstering End-User Industries in APAC region—

Geographically, APAC held the maximum share in the global plastic cable gland market with a demand share of 36.3% in 2018, and it is expected to continue its dominance during the forecast period. This is mainly attributed to the presence of some of the biggest manufacturing and export-oriented countries in this region. Rapid economic growth, which is fueling the urbanization rate and the growth in end-user industries is being witnessed in several countries in APAC, including India, China, and Japan. The automotive industry, a prominent end-user for cable glands, over the past few years, has witnessed tremendous growth in APAC, primarily driven by the exponential growth in vehicle demand from china. The number of vehicles produced in China, in 2018, was around 27 million, a value increased by 50% from 2010, according to the International Organization of Motor Vehicle Manufacturers (OICA). The increasing demand in the automotive industry is consequently driving the demand for automotive cable glands in this region. Moreover, the growth of the construction industry is contributing significantly to the regional market. The propitious growth in the construction industry can be easily fathomed by the statistics by Invest India, according to which the Indian construction industry is anticipated to clock a CAGR of 15.7% to attain a value of $739 billion by 2022. Thus the booming end-user industries in the emerging economies of APAC have rendered it with the maximum market share.

Plastic Cable Gland Market Company’s Strategies—

The major companies that are responsible for increasing the plastic cable gland market size are Phoenix Contact, Lapp Group, LeGrand, Eaton, Klinkmann, ECD Controls, Rittal, Wiska, Hummel, and R-Stahl. In order to stay ahead of the other competitors in the market, these market players are investing heavily in adopting different strategies such as acquisition, merger, new product launch, and partnership.

· In January 2019, Phoenix Contact Group acquired tow companies belonging to SKS Group - SKS Kontakttechnik GmbH and Pulsotronic GmbH & Co KG. The acquisition of SKS is intended to strengthen its position in the global cable gland market.

· On July 22, 2019, Eaton Corporation plc announced its plan to acquire Souriau-Sunbank Connection Technologies. This acquisition is aimed to serve the growing demand for cable glands and thereby generate high revenues to the company.

· In December 2017, the Lapp Group acquired SKS Automatic in Finland and SKS Connecto in Poland. The acquisition of the SKS companies is intended to strengthen the Lapp’s leading role in cable gland market and establish their brand name in North-Eastern Europe.

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