Pin and Sleeve Device Market Share, Industry Insights, Growth And Forecast 2024-2033

Overview and Scope

Pin-and-sleeve devices refer to devices that interlock a ground pin with a keyway on the outside of a plug to seal power connections securely. Due to their reliability and consistency, these devices are frequently used to seal power connections in heavy-duty industrial applications.

Sizing and Forecast

The pin and sleeve device market size has grown strongly in recent years. It will grow from $76.08 billion in 2023 to $82.68 billion in 2024 at a compound annual growth rate (CAGR) of 8.7%. The growth in the historic period can be attributed to industrial growth, stringent safety regulations, rise in construction activities, increase in power generation, focus on worker productivity, expansion of data centers.

The pin and sleeve device market size is expected to see strong growth in the next few years. It will grow to $111.49 billion in 2028 at a compound annual growth rate (CAGR) of 7.8%. The growth in the forecast period can be attributed to renewable energy integration, focus on energy efficiency, increasing industrial automation, evolving safety standards, electrification of transportation, expansion of telecommunication networks. Major trends in the forecast period include technological advances in connector design, product innovations, demand for corrosion-resistant materials, customization and modularity, integration of smart technologies.

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Segmentation & Regional Insights

The pin and sleeve device market covered in this report is segmented –

1) By Product: Plug, Connector, Receptacle, Inlet, Other Products

2) By Material: Metallic, Non-Metallic

3) By End Use: Residential, Commercial, Industrial

North America was the largest region in the pin and sleeve device market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the pin and sleeve device market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth

The expansion of data centers is expected to boost the growth of the pin and sleeve device market going forward. A data center refers to a facility that unifies a company’s shared IT infrastructure and operations for data processing and storage. Pin and sleeve devices play a significant role in data center hardware designs, especially in open-standard applications where everyone can easily understand the value of these components due to their capacity to optimize power usage, lower the cost of data center servers per rack, and lower the cost per server. For instance, in February 2021, according to the Korea Data Center Council (KDCC), the overall capacity of colocation data centers information technology (IT) load reached 430 MW at the end of 2020, accounting for 11% of the total APAC IT load. Following Savills Korea projections, the total commercial data center IT load in Korea is expected to expand by 700 MW between 2021 and 2023, accounting for 15% of overall Asia-Pacific capacity. Therefore, the expansion of data centers is driving the growth of the pin-and-sleeve device market.

Key Industry Players

Major companies operating in the pin and sleeve device market report are Schneider Electric SE, ABB Ltd., Eaton Corporation, Emerson Electric Co., Amphenol Corporation, Legrand Group, Molex LLC, Phoenix Contact, Hubbell Incorporated, Lapp Group, The Reynolds Technologies, Leviton Manufacturing Co. Inc., Wieland Electric GmbH, Gewiss S.p.A, R Stahl AG, Mennekes International, Bimed Teknik Aletler, Steute Technologies GmbH & Co. KG, HUMMEL AG, Cortem Group, Woertz AG, Marechal Electric Group, E2S Warning Signals, CMP Products, WALTHER-WERKE Ferdinand Walther GmbH, Palazzoli S.p.A, IDE Electric S.L., Bals Elektrotechnik GmbH & Co KG, I.L.M.E. S.p.A., METZ CONNECT GmbH

The pin and sleeve device market report table of contents includes:

Executive Summary
Pin and Sleeve Device Market Characteristics
Pin and Sleeve Device Market Trends And Strategies
Pin and Sleeve Device Market – Macro Economic Scenario
Global Pin and Sleeve Device Market Size and Growth
Pin and Sleeve Device Market Segmentation
Pin and Sleeve Device Market Regional And Country Analysis

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Key Mergers And Acquisitions In The Pin and Sleeve Device Market
Pin and Sleeve Device Market Future Outlook and Potential Analysis
Appendix

List Of Tables:

Table 1: Global Historic Market Growth, 2018-2023, $ Billion

Table 2: Global Forecast Market Growth, 2023-2028F, 2033F, $ Billion

Table 3: Global Pin and Sleeve Device Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 4: Global Pin and Sleeve Device Market, Segmentation By Material, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

Table 5: Global Pin and Sleeve Device Market, Segmentation By End Use, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

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Table 74: Schneider Electric SE Financial Performance

Table 75: ABB Ltd. Financial Performance

Table 76: Eaton Corporation Financial Performance

Table 77: Emerson Electric Co. Financial Performance

Table 78: Amphenol Corporation Financial Performance

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