Portland, OR -- (SBWIRE) -- 12/06/2017 -- The global cable glands market generated revenue of $1,667 million in 2016 and is projected to reach $2,513 million by 2023, registering a CAGR of 6.1% during the forecast period, i.e. from 2017 to 2023. In 2016, the armored segment is anticipated to grow at the highest rate during the forecast period.

A cable gland, also known as sealing glands or strain reliefs, allow the facilitation of barrier penetration while simultaneously offering sealing protection. They can be utilized with probes, wires, power, and signaling cables. Cable gland might be utilized on a wide range of electrical power, control, instrumentation, information, and broadcast communications links.

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Factors such as upgradation and renewal of existing networks, owing to government regulations, surge in the construction industry among developing countries, rise in energy demand levels globally coupled with the rise in population, and also a surge in real estates will help in the growth of the market in the near future.

The global cable glands market is segmented based on type into industrial & hazardous. The market is also divided by cable type into armored and unarmored. The market is further categorized by different material, which includes brass, nylon/plastic, stainless steel, and others; and by end user into oil & gas, mining, aerospace, manufacturing & processing, chemical, and others; and analyzed across four geographical regions, namely, North America, Europe, Asia-Pacific and LAMEA.

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KEY MARKET BENEFITS FOR STAKEHOLDERS

- The study provides an in-depth analysis of the cable glands market with current and future trends to elucidate the imminent investment pockets in the market.

- The report provides information regarding key drivers, restraints, and opportunities with impact analysis.

- Porters Five Forces model analysis of the industry illustrates the potency of the buyers and suppliers.

- Market player positioning in the report provides a clear understanding of the position of leading companies.