Metal Cord Grips Market Analysis

Metal Cord Grips Market Analysis

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Based on material, the stainless-steel segment was crossed USD 760.5 million in 2023 and is expected to reach USD 1.16 billion by 2032. Stainless steel provides excellent durability and longevity, providing a reliable cable management solution that can withstand harsh operating conditions and long-term use without damage. As the industry seeks long-term maintenance-free solutions, stainless steel cable holders are the recommended choice for critical installations. Stainless steel meets strict safety, hygiene, and environmental protection standards, making it the preferred material choice in regulated industries. Wire grippers used in the food & beverage, pharmaceutical, and petrochemical industries must meet strict compliance requirements, driving the demand for stainless steel versions.
 

Based on end use, the general manufacturing segment witnessed a significant growth of 5.7% through 2032 and is likely to exceed USD 673.3 million by 2032. With the rise of Industry 4.0 and smart manufacturing initiatives, there is a growing demand for advanced cable management solutions that can integrate with automated systems and data-driven processes. The adoption of automation and robotics in manufacturing processes is driving the need for flexible & reliable cable management solutions. Metal cord grips play a critical role in securing and protecting cables in robotic arms, automated machinery, and production lines, ensuring uninterrupted operation and minimizing downtime.
 

Asia Pacific region captured about 36% share of the metal cord grips market in 2023 and is projected to hit USD 1.03 billion by 2032. The Asia Pacific region is experiencing rapid industrialization and infrastructure development, particularly in countries including China, India, and Southeast Asian nations. This growth fuels the demand for metal cord grips in various sectors, including manufacturing, construction, and utilities, where secure cable management is essential. The Asia Pacific region is a hub for the electronics and electrical industries, with a large number of manufacturing facilities producing consumer electronics, automotive components and industrial machinery. Metal cable holders are important components in these industries to manage cables in equipment and control panels, which drive the regional demand.
 

Large-scale infrastructure projects, both domestic and international, are planned in China, which would give further impetus to companies and thus accelerate the China metal cord grips growth. The increase in the demand for energy resources and technological development is expected to boost the cable sleeve market in China. Emerson Electric Co. is a technology company providing design services, industrial automation, and process control. It offers hardware and software solutions for infrastructure, heating and power companies. Emerson serves the industrial, commercial, and consumer markets. The company's products & services find applications in climate technologies, grid power, process control, and industrial automation. Emerson Electric operates in Asia Pacific, the Middle East & Africa, the Americas, and Europe.
 

Europe region holds a market share of 30.7% of the overall market and is expected to reach USD 845.4 million by 2032. Government initiatives, such as Horizon 2020 and Europe 2020, and manufacturing activities are increasing the demand for cable connectors in Europe. Thus, the increase in business in industrial and manufacturing industries has increased the demand for cable glands in the European region, which has boosted the metal cord grips market growth in the region over the forecast years. Increased penetration of Industry 4.0 and ICT along with increased R&D activities are driving market growth in the region. The establishment of new companies led to the adoption of green technology in Europe.
 

The establishment of new companies led to the adoption of green technology in Europe. In addition, companies invest heavily in the market; therefore, the adoption of green technologies in Europe and the growth of the residential sector in the region are also factors supporting the market growth.
 

The UK market is expected to grow in the coming years with the development of technology. Furthermore, growing demand from food processing, marine, and other industries has increased the demand for cable glands, contributing to the UK metal cord grips market growth over the forecast years.
 

The North America region holds a market share of 23.6% of the overall market and is expected to reach USD 532.3 million by 2032. The adoption of industrial automation technologies in the manufacturing, automotive, and aerospace industries in North America is increasing the demand for wire ropes. These components are an integral part of securing cables in automated machines, control panels, robotic systems, and production lines, ensuring safe and efficient operation.
 

The growing focus on renewable energy sources, such as solar, wind, and hydropower, in North America is driving the demand for metal rope handles. These components are crucial for securing cables for renewable energy installations, including solar power plants, wind turbines and hydroelectric plants, supporting the transition to clean energy. Despite oil price volatility, the oil & gas industry remains an important market for wire rod holders in North America. These components are essential for securing cables in oil rigs, refineries, pipelines, and offshore platforms, ensuring reliable electrical connections in harsh and hazardous environments.