Metal Cord Grips Market Size - By Material (Brass, Stainless Steel, Aluminum, and Others), By Size, By Shape, By Cord Holding, By End Use, By Distribution Channel and Forecast, 2024 – 2032.

Published Date: July - 2024 | Publisher: MIR | No of Pages: 240 | Industry: Industrial-Machinery | Format: Report available in PDF / Excel Format

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Metal Cord Grips Market Size - By Material (Brass, Stainless Steel, Aluminum, and Others), By Size, By Shape, By Cord Holding, By End Use, By Distribution Channel and Forecast, 2024 – 2032.

Metal Cord Grips Market Size

Hey there! The market for metal cord grips is like a bustling city, valued at a whopping 1.68 billion dollars in 2023. And guess what? It's only going to get bigger and better over the next decade. Why is this happening? Well, for starters, we're building more roads, bridges, and other fancy infrastructure. And all these projects need some serious electricity and communication. That's where metal cord grips come in - they hold up all those cables and wires safely and securely. Plus, with everyone hopping on the 5G bandwagon, we need even more efficient ways to manage all these cables. Metal cord grips are the perfect solution, keeping everything organized and out of harm's way. And here's the cherry on topthese cord grips are getting smarter and easier to use. They're like the Swiss Army knife of cable management, designed to seal tight and install effortlessly. So, you can rest assured that your cables are in good hands.

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With tighter regulations and standards for electrical installations and equipment, there is an increasing emphasis on ensuring safety and compliance. Cable glands that meet or exceed these standards, such as IP ratings, are in higher demand. The spread of industrial automation and the Internet of Things (IoT) is increasing the demand for cable glands that can safely and reliably manage cables in complex & interconnected systems. This includes electromagnetic compatibility (EMC) shielded seals to prevent interference in sensitive electronic environments.
 

Metal Cord Grips Market Report Attributes
Report Attribute Details
Base Year 2023
Metal Cord Grips Market Size in 2023 USD 1.68 Billion
Forecast Period 2024 - 2032
Forecast Period 2024 - 2032 CAGR 5.2%
2032 Value Projection USD 2.64 Billion
Historical Data for 2021 - 2023
No. of Pages 370
Tables, Charts & Figures 247
Segments covered Material, size, shape, cord holding type, end use, distribution channel, and region
Growth Drivers
  • Infrastructure development
  • Increasing manufacturing industries
  • Growing construction industry
Pitfalls & Challenges
  • Market saturation and intense competition

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The metal cord grips market is like a crowded playground with lots of kids playing together. There are the big kids, who have been around for ages, and there are the new kids, who are just starting to make a name for themselves. And then there are the kids who don't want to play with metal anymore and are using new materials instead. The big kids, who are the top five companies in the market, don't even control half of the playground. That means there are a ton of smaller kids running around, trying to grab a piece of the action. And because everyone wants to be the best, they're all starting to lower their prices. In the past few years, the cost of metal cord grips has gone down by about 7%. But it's not just the big and small kids fighting it out. Some kids have started bringing their own toys to the playground. These toys are made of different materials, like plastic and composites. They're lighter, don't rust, and in some cases, are cheaper. Last year, plastic toys took up 18% of the whole playground, compared to only 13% a few years ago. That's definitely taking a bite out of the metal cord grips market.

Metal Cord Grips Market Trends

The world of metal cord grips is heating up! These handy devices keep cables safe and sound in electrical equipment. They're like the guardians of your wires, making sure everything stays connected and out of trouble. The need for better, safer, and more efficient cord grips has been driving some major technological leaps. And it's not just a recent thing – the market has been on a steady path of innovation for a while now. These grips, also known as cable glands, are like the masters of cable management. They keep wires in place, stop them from getting pulled out, and seal everything up to prevent any unwanted visitors, like water or dust. To handle the tough jobs, these grips are usually made from strong stuff like stainless steel, brass, and aluminum. They're built to last and handle whatever your equipment throws their way. So, what's driving this surge in demand? Well, industries like automation, manufacturing, energy, and telecommunications are all relying more and more on reliable and secure cable management solutions. And metal cord grips are stepping up to the plate, delivering exactly what these industries need.

Metal Cord Grips Market Analysis

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Picture thisin the year 2023, stainless steel wire and cable gear reached an impressive $760.5 million in sales. But hold on tight, because experts predict it's about to soar to $1.16 billion by 2032. Why is stainless steel so popular? For starters, it's like Superman for your cables. It's super strong, durable, and can handle even the roughest conditions without breaking a sweat or rusting like other materials. Imagine working in a hospital or food factory, where cleanliness is key. Stainless steel is the hero you need because it not only meets strict hygiene standards but also protects the environment. That's why industries that need to be extra careful, like oil and gas, pharmaceuticals, and food and drink companies, love stainless steel wire holders. It's the perfect choice for those mission-critical installations where you don't want to mess with maintenance. It's like having a security guard for your wires, keeping everything in order and out of harm's way. So, if you're looking for a trouble-free solution that's strong, safe, and meets all the rules, reach for stainless steel cable holders. It's the smart choice that will keep your wires under control for years to come.

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Hey there! The manufacturing industry is booming, with the general manufacturing sector growing like crazy – it's expected to be worth over $673.3 million by 2032! That's a jump of 5.7%. But why is it growing so much? Well, it's all about "Industry 4.0" and smart manufacturing. Basically, factories are getting more automated and tech-savvy, so they need better ways to manage all the cables. Enter cable management solutions! These help keep all those cables organized and safe, so the automated systems and robots can do their thing without any interruptions. And metal cord grips are super important for securing cables in robotic arms and machinery, making sure everything runs smoothly and stays up and running.

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In 2023, the Asia Pacific region ruled over a third of the metal cord grip market, a whopping 36%. And hold on tight, because experts predict it'll balloon to an incredible $1.03 billion by 2032! Why such a surge? The Asia Pacific region is on a roll, powering forward with industrialization and infrastructure projects like a rocket. China, India, and Southeast Asian countries are leading the pack. And guess what this means? Boom! Massive demand for metal cord grips. These handy devices keep cables in check, nice and tidy, in sectors where it's all about safety and efficiencymanufacturing, construction, utilities – you name it. In the Asia Pacific, it's a bustling hub for electronics and electrical industries, churning out everything from your favorite gadgets to car parts and industrial whizzbangs. Metal cord grips are like the unsung heroes, making sure cables in all these machines and control panels behave themselves. So, it's no surprise that the region's demand for these trusty grips is through the roof!

China has big plans for both domestic and international infrastructure projects. These projects will create new business opportunities for companies and give a boost to the metal cord grips industry in China. The growing demand for energy and tech advancements are also expected to fuel growth in the cable sleeve market in China. Emerson Electric is a tech company that helps design infrastructure, automate industrial processes, and manage energy. Its hardware and software solutions support companies in energy, heating, and power sectors, as well as those in industrial, commercial, and consumer markets. Emerson Electric's products and services are used in a wide range of applications, including climate control, power distribution, process optimization, and industrial automation. The company operates in the Americas, Asia-Pacific, Europe, and the Middle East and Africa.

Hey there! Let's talk about a growing market for special connectors used in factories and manufacturing plants – metal cord grips. Europe's a big player in this market, taking up more than 30% of the global share. And experts predict it'll hit almost $850 million by 2032! Why's Europe so hot for these grips? It's not just because they keep those cables and cords organized and safe. Governments in Europe are putting in a lot of effort to boost industry and manufacturing (think plans like Horizon 2020 and Europe 2020). And with more factories humming along, they need more of these special connectors. But that's not all. Technology's taking off in Europe, too. Companies are embracing the latest in automation and digitalization, which means even more demand for these grips. Plus, there's a growing focus on eco-friendly tech, so more and more businesses are switching to greener options, like metal cord grips.

The establishment of new companies led to the adoption of green technology in Europe. In addition, companies invest heavily in the market; therefore, the adoption of green technologies in Europe and the growth of the residential sector in the region are also factors supporting the market growth.

The UK market is expected to grow in the coming years with the development of technology. Furthermore, growing demand from food processing, marine, and other industries has increased the demand for cable glands, contributing to the UK metal cord grips market growth over the forecast years.

The North America region holds a market share of 23.6% of the overall market and is expected to reach USD 532.3 million by 2032. The adoption of industrial automation technologies in the manufacturing, automotive, and aerospace industries in North America is increasing the demand for wire ropes. These components are an integral part of securing cables in automated machines, control panels, robotic systems, and production lines, ensuring safe and efficient operation.

The growing focus on renewable energy sources, such as solar, wind, and hydropower, in North America is driving the demand for metal rope handles. These components are crucial for securing cables for renewable energy installations, including solar power plants, wind turbines and hydroelectric plants, supporting the transition to clean energy. Despite oil price volatility, the oil & gas industry remains an important market for wire rod holders in North America. These components are essential for securing cables in oil rigs, refineries, pipelines, and offshore platforms, ensuring reliable electrical connections in harsh and hazardous environments.

Metal Cord Grips Market Share

The global metal cord grips industry is fragmented, with the presence of prominent players such as Hubbell Wiring, Device-Kellems, Thomas & Betts (ABB), Eaton, Lapp Group, Leviton, Mencom Corporation, Sealcon, Roxtec International AB, Panduit, R. Stahl, and Remke Industries. Manufacturers are adopting strategic steps, such as mergers, acquisitions, partnerships, and collaboration, to meet the growing consumer demand and consolidate their position in the market.

Metal Cord Grips Market Companies

Major key players operating in the metal cord grips industry include

  • Alpha Wire
  • Amphenol Industrial
  • Anamet Electrical
  • Cooper Crouse-Hinds (Eaton)
  • Eaton
  • Heyco (Nexans)
  • Hubbell Wiring Device-Kellems
  • Lapp Group
  • Leviton
  • Mencom Corporation
  • Panduit
  • R. Stahl
  • Remke Industries
  • Sealcon
  • Thomas & Betts (ABB)

Metal Cord Grips Industry News

  • In February 2024, Mencom Corporation, a leading global manufacturer of industrial electrical connectors, successfully completed the acquisition of ELIM spol. s r.o., a leading producer of wiring harnesses located in Volary, Czech Republic. This strategic acquisition marks a significant milestone for Mencom, solidifying its footprint in Europe and enhancing its ability to locally manufacture and distribute high-quality products to a broader customer base.
  • In January 2023, Panduit acquired DongWon EN-Tec Co., Ltd’s subsea cable and pipe protection product portfolio and related technologies. The product portfolio includes URAPROTECT, a polyurethane submarine cable and pipe protector solution, bend stiffeners and restrictors, and J-Tube seals for wind turbine applications. This transaction allows Panduit to offer its Asia Pacific customers a wider breadth of capabilities and a growing portfolio of complementary high-quality industrial products used for protecting power cable and fiber optic subsea cable installations against hazardous conditions.
  • In April 2020, Leviton Manufacturing recalled about 98,000 electrical connectors owing to mislabeled terminal markings. The 50-amp, non-NEMA electrical connectors, plugs, receptacles and inlets pose a shock hazard. Leviton also received four reports of mismarked devices. One consumer received an electrical shock, and three others reported minor property damage.

This metal cord grips market research report includes in-depth coverage of the industry, with estimates & forecast in terms of revenue (USD Million) and volume (Thousand units) from 2021 to 2032, for the following segments

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Market, By Material Type

 

  • Brass
  • Stainless Steel
  • Aluminium
  • Others

Market, By Size

  • Upto 1 inch
  • 1-2 inch
  • 3 inch

Market, By Shape

  • 45 degree elbow
  • 90 degree elbow
  • Straight

Market, By Cord Holding Type

  • Bushing
  • Screw down clamp

Market, By End Use

  • General Manufacturing
  • Construction
  • Oil & Gas
  • Energy & Power
  • Transportation
  • Cleanroom Environments
  • Utilities
  • Others

Market, by Distribution Channel

  • Direct
  • Indirect

The above information is provided for the following regions and countries

  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Australia
    • Indonesia
    • Malaysia
    • Rest of Asia Pacific 
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America 
  • MEA
    • UAE
    • Saudi Arabia
    • South Africa
    • Rest of MEA

 

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