MARKET OUTLOOK
Triton has envisioned the market for cable glands in the Asia-Pacific to witness a CAGR of 7.34% over the forecast period from 2019-2027.
China, India, Japan, South Korea, Australia & New Zealand, ASEAN countries and countries in Rest of APAC together constitute the Asia-Pacific market for cable glands.
The rapid urbanization in the country and the growth in people’s disposable incomes have led to the growth of the Indian cable glands market. The enhanced expenditure by the population has resulted in the growth of India’s manufacturing hub. Moreover, the rise in demand for pharmaceuticals has led to several multinational pharmaceutical companies to expand their base in the country. Thus, the enhanced activity and the supportive initiatives by the government are aiding the growth of the cable glands market in India.
The growth of Japan’s manufacturing sector is one of the primary factors responsible for the increasing demand for explosion-proof cable glands in the country. The increase in demand for these cable glands has thus resulted in the growth of the Japanese cable glands market. Moreover, Japan is among the most prominent countries manufacturing computers, consumer electronics, automobiles, semiconductors, steel, iron and copper. The country is also performing well in the sectors of aerospace, shipbuilding and petrochemicals. The continual growth of the country’s industrial sector thus raises the demand for cable glands, which fuels the growth of Japan’s cable glands market.
COMPETITIVE OUTLOOK
Cortem Group, R. STAHL AG, Jacob GmbH, Eaton Corporation, Emerson Electric Co. and Thomas & Betts Corporation are the distinguished names in the cable glands market.