Pin and Sleeve Device Market Demand & Competitive Analysis by Leading Manufacturers to 2032

Pin and Sleeve Device Market

Connectors are gaining wide acceptance and their market share is rising, due to enhanced requirement of connectivity for applications in consumer electronics

WILMINGTON, DELAWARE , UNITED STATES, February 12, 2024 /EINPresswire.com/ -- According to a recent report published by Allied Market Research, titled, Pin and Sleeve Device Market Size, Share, Competitive Landscape and Trend Analysis Report by Product Type, and End User: Global Opportunity Analysis and Industry Forecast, 2032

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.

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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.

Pin and sleeve devices are used in various products, ranging from metal-housed to high resistant plastic products. These devices are ideal for various applications for the reason that they act as a medium between electronic devices and current. They enable the flow of current though receptacle (socket) to device through plugs.

There is an increase in the installation of plugs and sockets in the residential sector as the growth in construction activities across the globe is generating need for power-efficient connections to make home appliances work. In addition, advancements in construction methods of semiconductor wafers such as prefabricated homes with pre-installed sockets for use in electronics drives the market growth to a certain extent is expected to boost the demand for pin and sleeve devices.

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Moreover, secure plugs & sockets help monitor and control the flow of electricity, which can otherwise be harmful for workers. Rise in R&D activities in the military & defense sector has a huge impact on the market growth, due to surge in consumption of advanced electronic appliances such as large batteries and power sources that require power connection. Thus, governments of developing ad developed nations are investing in wiring devices for better connectivity, which, in turn, fuels the growth of the global Pin and Sleeve device market.

However, complex fault detection, troubleshooting process, and increase in investments in wireless connectivity to the appliances such as wireless chargers and others is expected to limit the growth of the Pin and Sleeve device industry.

Furthermore, increase in demand for dust proof and splash proof plugs & sockets also contribute to the market growth, owing to shift in consumer preference toward adoption of highly durable and water-resistant devices. Moreover, secure plugs & sockets help monitor and control the flow of electricity, which can otherwise be harmful for workers.

Rise in R&D activities in the military & defense sector has a huge impact on the market growth, due to surge in consumption of advanced electronic appliances such as large batteries and power sources that require power connection. Thus, governments of developing ad developed nations are investing in wiring devices for better connectivity, which, in turn, fuels the growth of the global Pin and Sleeve device market. However, complex fault detection, troubleshooting process, and increase in investments in wireless connectivity to the appliances such as wireless chargers and others is expected to limit the growth of the Pin and Sleeve device market.

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.

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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.

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.

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.

About Us:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Allied Market Research
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