Pin And Sleeve Devices Market To Hit US$ 102.67 Bn, Globally, by 2027 at 5.80% CAGR
The global pin and sleeve devices market reached a value of US$ 72.22 Billion in 2021 and is expected to reach a value of US$ 102.67 Billion by 2027, exhibiting a CAGR of 5.80% during 2022-2027.
According to the latest report by IMARC Group, "Global Pin And Sleeve Devices Market Size, Share, Growth, Industry Trends, Opportunity and Forecast 2022-2027", the global pin and sleeve devices market reached a value of US$ 72.22 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 102.67 Billion by 2027, exhibiting a CAGR of 5.80% during 2022-2027.
Pin and sleeve devices aid in acquiring high-quality, secure electrical connections in risky industrial environments. They provide power in various equipment such as motor gen-sets, conveyors, portable tools, compressors, welders, and lighting. They are utilized in industries that need high-powered connections for several devices and appliances. Some of the pin and sleeve devices available in the market are durable and assist in averting accidental disconnect under load. Nowadays, these devices are gaining traction as they are widely used for packaged food products in the food and beverage (F&B) industry.
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COVID-19 Impact: As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviors of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.
Pin And Sleeve Devices Market Trends and Drivers:
One of the primary factors driving the market is the increasing construction of residential projects and commercial structures worldwide due to the rapid urbanization and the rising global population. Additionally, the escalating demand for portable or fixed power applications in hazardous areas is creating a positive market outlook. Besides this, the rising demand for consumer electronics has increased the product adoption rate of pin and sleeve devices as they are extensively utilized to supply power to electrical equipment in sports stadiums, amusement parks, and film shootings.
In line with this, the growing travel and tourism, and entertainment industries are catalyzing the market growth for the pin and sleeve devices market. Moreover, constant product innovations, such as products that avert dust, dirt, and water jets, have increased the demand for this product in power applications for shipyards, marine environments, pulp and paper factories, military bases, heavy manufacturing locations worldwide, and wastewater treatment plants.
Global Pin And Sleeve Devices Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these top key players include:
- ABB Ltd
- Amphenol Corporation
- Eaton Corporation plc
- Emerson Electric Co.
- Hubbell Incorporated
- Legrand Group
- MELTRIC (Marechal Electric Group)
- MENNEKES Elektrotechnik GmbH & Co. KG
- Schneider Electric SE
- WALTHER-WERKE Ferdinand Walther GmbH.
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The report has segmented the market on the basis of region, product, material and end use.
Breakup by Product:
Breakup by Material:
Breakup by End Use:
o Oil and Gas
o Energy and Power
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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