Pin and Sleeve Device Market : By Product Type (Plug, Connector, Receptacle, and Inlet), and End User (Residential, Commercial, and Industrial): Global Opportunity Analysis and Industry Forecast, 2019-2026
A new report published by Allied Market Research, titled, “Pin and Sleeve Device Market by Product Type, and End User: Global Opportunity Analysis and Industry Forecast, 2019–2026,” projects that the global Pin and Sleeve device market size was valued at $68.10 billion in 2019, and is expected to reach $160.11 billion by 2026, growing at a CAGR of 11.10% from 2019 to 2026. In 2019, Asia-Pacific dominated the market, contributing more than a 40% share of the overall revenue, followed by North America.
Pin and sleeve devices are high-current power sources that help insulate power from chemicals, dirt, moisture, and grime. These devices are made up of high-quality components such as RFI filters, battery holders, LED lighting connectors, solid brass, and pins. These highly secured devices protect electrical connections in abusive environments.
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The Asia-Pacific Pin and Sleeve device market share is analyzed across countries such as China, Japan, India, South Korea, and rest of Asia-Pacific. Asia-Pacific dominates the market, owing to increase in penetration of connectivity technologies such as optical fiber cable in developing economies, primarily due to numerous upcoming projects, such as smart cities. In addition, Asia-Pacific offers tremendous opportunities for players in the Pin and Sleeve device market.
Increase in demand for internet in developing countries such as India, China, and Taiwan, rise in industrialization, and surge in awareness associated with benefits of technology drive the growth of the market in this region. In addition, technological enhancements and increase in penetration of FTTX (Fiber to the X) propels the growth of the Pin and Sleeve device market in this region.
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Key Findings of the Study:
- The connector segment accounted for the highest share of the market in 2018 with $21.82 Billion, growing at a CAGR of 7.80% from 2019 to 2026.
- The industrial generated the highest revenue, accounting for $25.07 Billion in 2018.
- Asia-Pacific is expected to dominate the market, garnering 12.70% of the share during the forecast period.
The report provides a comprehensive analysis of the major market players such as ABB Ltd., Eaton Corporation, Emerson Electric, Meltric Corporation, Schneider Electric, Walther Electric, Inc., Amphenol Corporation, Mennekes Electrotecnik GmbH & Co. KG, Hubbell Corporation, and Legrand SA.
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