Cable Joints Market Size is Projected to Reach $31.5 Billion by 2031 | Growing at a CAGR of 6.9%.
The high voltage segment is projected to grow at a CAGR of 6.2% during the forecast period.
PORTLAND, OREGON, UNITED STATES, September 27, 2023 /EINPresswire.com/ — Allied Market Research published a report on the Cable Joints Market by Type (Indoor, Outdoor), by Voltage (Low Voltage, Medium Voltage, High Voltage), by Industry Vertical (Industrial, Aerospace and defense, Oil and gas, Energy and Power, IT and Telecommunication, Others): Global Opportunity Analysis and Industry Forecast, 2021-2031.
The global cable joints market was valued at $16.1 billion in 2021 and is projected to reach $31.5 billion by 2031, growing at a CAGR of 6.9% from 2022 to 2031
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A cable joint is a connecting solution designed to connect low, medium, and high-voltage cables in a way that reflects the cable’s construction. Several types of joints are available in the market and the best one depends on the cable’s size, shape, configuration, voltage rating, structure, insulation type, specific application, and the number of cores to be joined. The waterproof cable joints should provide electrical insulation and mechanical protection, as well as a barrier against water ingress.
The growth of the global cable joints market size is majorly driven by the rise in government initiatives to expand or upgrade transmission & distribution systems paired with the surge in industrialization & urbanization in emerging economies. Further, the rapid development and investments in the renewable energy sector are anticipated to drive the growth of the cable joints market. However, the high failure rate of medium voltage cable accessories acts as a prime restraint of the cable joints market. On the contrary, the increase in investments in the electrification of remote & rural areas is anticipated to provide lucrative opportunities for the cable joints industry during the forecast period.
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The research report presents a complete judgment of the cable joints market trends, growth factors, consumption, production volume, CAGR value, attentive opinions, profit margin, price, and industry-validated market data. Also, these research report provides accurate economic, global, and country-level predictions and analysis, size and share analysis, market dynamics, segmental analysis, top investment pockets, competition landscape, market drivers, restraints, and opportunities
Competitive Analysis:
The cable joints industry key market players adopt various strategies such as product launch, product development, collaboration, partnership, and agreements to influence the market. It includes details about the key players in the market’s strengths, product portfolio, market size and share analysis, operational results, and market positioning.
Some of the major key players of the global cable joints market include,
3M International
Nexans S.A.
TE Connectivity Ltd.
NKT A/S.
Cable Jointer Solutions
Yamuna Power & Infrastructure Ltd.
Fujikura
General Cable Technologies Corporation (Prysmian Group)
ABB Ltd
Connect Cable Accessories Co., Ltd.
Top Impacting Factors:
Significant factors that impact the growth of the global cable joints industry include the rise in government initiatives to expand or upgrade transmission & distribution systems. Moreover, the rise in industrialization & urbanization in emerging economies and the rapid development and investments in the renewable energy sector are expected to drive market growth. However, the high failure rate of medium voltage cable accessories is acting as a prime barrier to early adoption, which hampers the growth of the market. On the contrary, during the forecast period, the market is anticipated to experience rapid growth due to the increase in investments in the electrification of remote & rural areas.
Research Methodology:
The research uses both primary and secondary research to assemble data on the various facets of the international cable joints market. Using interviews or surveys, primary market research has been used to collect highly authenticated data from direct sources, such as consumers in a particular market. Secondary market research is a method for gathering information from previously released data that has been produced by international organizations, business groups, government and research institutions, and so on.
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Key Benefits for Stakeholders:
1) The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
2) This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
3) Major countries in each region are mapped according to their revenue contribution to the global market.
4) Porter’s five forces analysis illustrates the potency of the buyers and the cable joints market share of key vendors.
5) The report includes major cable joints suppliers along with the company overview, business segments, product portfolio, and key strategic moves and development in the market.
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Allied Market Research is a top provider of market intelligence that offers reports from leading technology publishers. Our in-depth market assessments in our research reports take into account significant technological advancements in the sector. In addition to other areas of expertise, AMR focuses on the analysis of high-tech systems and advanced production systems. We have a team of experts who compile thorough research reports and actively advise leading businesses to enhance their current procedures. Our experts have a wealth of knowledge on the topics they cover. Also, they use a variety of tools and techniques when gathering and analyzing data, including patented data sources.
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