Cable joints are electronic joints that are used to connect and provide physical support to the cable. They are used to connect the cable end to another cable for physical and electrical interconnectivity in electronic equipment. They are available in different shapes, sizes, and configurations that can be used to interconnect low, medium, and high voltage electrical cables. They can be classified into straight-through joints, pot ends, branch which can be a T or Y joint, and indoor/outdoor terminations. All these offer reliable electrical connections between different electrical cables.
The Europe cable joint market is expected to witness significant growth during the forecast period (2021–20278. The increasing adoption of electric vehicles in the commercial and government sectors is expected to drive the market growth during the forecast period. For instance, in 2020, in Europe, the Department of Transport allocated approximately US$ 65 million for electric bus towns. The Department of Transport predicted that 200 electric buses can save around 7,400 tons of CO2 annually and play important role in bringing down emissions. Demand for electric vehicles, and the government investment in power infrastructure & charging stations across Europe is going to drive the demand for cable & cable joints during the forecast period. Moreover, rising urbanization and growing advanced infrastructure are also driving the market growth. In addition, increased investments in advanced technologies of power transmission and distribution systems, and the development of smart grids increases the demand for cable joints in the market. The technological advancements in smart grids generate efficient renewable power, reliable power, reduce carbon footprint by working with smart devices, and encourage the use of electric vehicles in Europe. Moreover, stringent government regulations to move towards electric vehicle have also led to the demand for cable & cable joints in Europe. For instance, in 2020, European Union set a target of net-zero greenhouse emissions by 2025.
Europe Cable Joint Market - Impact of Coronavirus (Covid-19) Pandemic
The situation caused significant deterioration in economic conditions and governments had to shut down commercial as well as educational sectors for a specific period. To combat COVID-19 pandemic, most of the countries implemented lockdown, and are now easing it phase-wise and industry wise. Cable joint market in Europe was negatively impacted by the COVID-19 pandemic.
Rest of Europe held dominant position in the Europe cable joint market during the forecast period
Statistics:
Rest of Europe held dominant position in the Europe cable joint market in 2020, accounting for 51.3% share in terms of value, followed by France, Germany and Others.
| Report Coverage | Details | ||
|---|---|---|---|
| Base Year: | 2019 | Market Size in 2019: | US$ 573.9 Mn |
| Historical Data for: | 2017 to 2019 | Forecast Period: | 2020 to 2028 |
| Forecast Period 2020 to 2028 CAGR: | 4.5% | 2027 Value Projection: | US$ 801.2 Mn |
| Geographies covered: |
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| Companies covered: |
Prysmian Group, General Cable Technologies Corporation (Prysmian Group), Nexans S.A., NKT A/S, ABB Ltd., 3M, Cable Jointing Solutions, Fujikura, Yamuna Power, Cellpack Electrical Products, Connect Cable Accessories Co., Ltd., Consumers Electric Corporation (Pvt) Ltd., IES Components Limited |
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Figure 1: Europe Cable Joint Market Share (%), By Country, 2020
Power segment is expected to drive the market growth during the forecast period
Among End-use Vertical, the power segment is expected to hold dominant position in the Europe cable joint market during the forecast period. Rising urbanization and growing advanced infrastructure are also driving the market growth. In addition, increased investments in advanced technologies of power transmission and distribution systems, and the development of smart grids increases the demand for cable joints in the market. Government investment in power infrastructure across Europe is going to drive the demand for cable & cable joints during the forecast period.
Figure 2: Europe Cable Joint Market Value (US$ Mn) Analysis and Forecast and Y-o-Y Growth (%), 2017 - 2028
The Europe cable joint market was valued at US$ 573.9 Mn in 2020 and is expected to reach US$ 801.2 Mn by 2028 at a CAGR of 4.5% between 2020 and 2028.
Major players operating in the europe cable joint market include Prysmian Group, General Cable Technologies Corporation (Prysmian Group), Nexans S.A., NKT A/S, ABB Ltd., 3M, Cable Jointing Solutions, Fujikura, Yamuna Power, Cellpack Electrical Products, Connect Cable Accessories Co., Ltd., Consumers Electric Corporation (Pvt) Ltd., IES Components Limited
Growth in the electrical and electronic industry due to the increasing production of electrical products is a prime factor propelling market growth of cable joints. Rapid urbanization coupled with the robust growth of the power sector around the globe is also expected to propel the market growth of the cable joint. Up-gradation in the electronic infrastructure across emerging markets coupled with the development in the various manufacturing sectors such as automotive, oil &gas, mining, and petrochemicals, etc. are further anticipated to augment the market growth of cable joints. Technological advancement in the cable joints by manufacturers is another major factor expected to fuel the market growth.
Market Dynamics
Increasing railway projects is expected to drive the market growth during the forecast period. The growing demand for railways in developed countries is increasing the demand for better rail infrastructure. In addition, some of the countries in Europe are also planning to invest in railway infrastructure, which increases the demand for cables & cable joints in the region. For instance, in 2020, Britain railways planned to invest approximately $50,000 million for the development of new trains and upgrading existing tracks. Furthermore, increasing safety concerns in the railway industry are also driving the market growth. The advancements in technologies can lead to higher energy consumption. To minimize power consumption, most of the companies are focusing on developing energy-efficient systems, which consume less electric energy. Railway manufacturers are focusing on improving the safety and security of railways by replacing existing systems with advanced systems. Therefore, the growing installation of high-end electronics and safety features in the metro, light, and high-speed rails is increasing the demand for cable joints in the market.
Key features of the study:
Detailed Segmentation
“*” marked represents similar segmentation in other categories in the respective section.
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