According to the latest report by IMARC Group, title “Pin And Sleeve Devices Market: Global Industry Trends, Share, Size, Growth, 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 help establish safe, reliable electrical connections in hazardous industrial environments. They provide energy for numerous devices, such as welders, motor gen-sets, compressors, conveyors, portable tools, and lighting. They are widely used in sectors requiring high-powered connections for various equipment and appliances. At present, pin and sleeve devices are available in numerous variants in the market that are durable and help avoid accidental disconnect under load.
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Pin And Sleeve Devices Market Trends:
The global pin and sleeve devices market is primarily driven by the rising need for fixed or portable power applications in high-risk areas. Moreover, the escalating demand for pin and sleeve devices for connecting various consumer electronics such as computers, servers, mainframes, and cameras is positively influencing the market growth. Additionally, the rising construction of residential and commercial infrastructure due to rapid urbanization and the expanding global population is another major growth-inducing factor. Apart from this, there has been a rise in the use of pin and sleeve devices to supply power to electrical equipment in sports stadiums, film shootings, and amusement parks. In line with this, the significant expansion in the entertainment, travel, and tourism industries has catalyzed market growth. Furthermore, the surging adoption of pin and sleeve devices in the food and beverage (F&B) sector owing to rising demand for packaged food products is contributing to the market growth. Other factors, including the increasing use of connectors, sockets, and plugs, rising product adoption in power applications for pulp and paper facilities, and ongoing product innovations, are also anticipated to drive the market further.
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Key Market Segmentation:
The report has been segmented the market into following categories:
Breakup by Product:
Breakup by Material:
Breakup by End Use:
- Oil and Gas
- Energy and Power
Breakup by Geography:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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List of Key Companies Covered in this Market Report:
The major players in the market are 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 and WALTHER-WERKE Ferdinand Walther GmbH.
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About IMARC Group:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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