Dublin, May 31, 2023 (GLOBE NEWSWIRE) -- The "Cable Joints Market by Type, Voltage, Industry Vertical: Global Opportunity Analysis and Industry Forecast, 2021-2031" report has been added to ResearchAndMarkets.com's offering.
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.
The growth of the global cable joints market is driven by the rise in government initiatives to expand or upgrade transmission & distribution systems paired with a rise in industrialization & urbanization in emerging economies. Further, the rapid development and investments in the renewable energy sector are anticipated to drive the growth of cable joints market.
The market also offers growth opportunities to the key players in the market. Emerging economies such as China, India, and Brazil are engaged in investments in the electrification of remote and rural areas. An increase in population and a surge in urbanization are the primary factors that increase the need for electrification, which fuels the demand for power grid infrastructure in these countries, thereby providing growth opportunities for the stakeholders in the coming years.
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.
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 the analysis of the regional as well as global cable joints market trends, key players, market segments, application areas, and market growth strategies.
Key Market Segments
By Type
- Indoor
- Outdoor
By Voltage
- High Voltage
- Low Voltage
- Medium Voltage
By 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
Key Market Players
- 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
- Connect Cable Accessories Co., Ltd.
Key Market Insights
- By type, the outdoor cable joints segment was the highest revenue contributor to the market and is estimated to reach $21.0 billion by 2031, with a CAGR of 6.8%. However, the indoor cable joints segment is estimated to be the fastest-growing segment with a CAGR of 7.0% during the forecast period.
- By voltage, the high voltage segment dominated the global market and is estimated to reach $12.5 billion by 2031, with a CAGR of 6.2%. However, the medium voltage segment is expected to be the fastest-growing segment during the cable joints Market Forecast.
- Based on industry vertical, the energy and power segment was the highest revenue contributor to the market, with $4.47 billion in 2021, and is estimated to reach $9.78 billion by 2031, with a CAGR of 8.0%.
- Based on region, Asia-Pacific was the highest revenue contributor, accounting for $5.76 billion in 2021, and is estimated to reach $11.8 million by 2031, with a CAGR of 7.3%.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 225 |
| Forecast Period | 2021 - 2031 |
| Estimated Market Value (USD) in 2021 | $16.1 billion |
| Forecasted Market Value (USD) by 2031 | $31.5 billion |
| Compound Annual Growth Rate | 6.9% |
| Regions Covered | Global |
Key Topics Covered:
CHAPTER 1: INTRODUCTION
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
CHAPTER 4: CABLE JOINTS MARKET, BY TYPE
CHAPTER 5: CABLE JOINTS MARKET, BY VOLTAGE
CHAPTER 6: CABLE JOINTS MARKET, BY INDUSTRY VERTICAL
CHAPTER 7: CABLE JOINTS MARKET, BY REGION
CHAPTER 8: COMPANY LANDSCAPE
CHAPTER 9: COMPANY PROFILES
Companies Mentioned
- 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
- Connect Cable Accessories Co., Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/2kh6s
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