EUROPE CABLE JOINT MARKET ANALYSIS

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.

Figure 1: Europe Cable Joint Market Share (%), By Country, 2020

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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

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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