PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1812597
PUBLISHER: Coherent Market Insights | PRODUCT CODE: 1812597
Europe Cable Joint Market is estimated to be valued at USD 3,128 Mn in 2025 and is expected to reach USD 5,255.4 Mn by 2032, growing at a compound annual growth rate (CAGR) of 7.7% from 2025 to 2032.
Report Coverage | Report Details | ||
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Base Year: | 2024 | Market Size in 2025: | USD 3,128 Mn |
Historical Data for: | 2020 To 2024 | Forecast Period: | 2020 To 2024 |
Forecast Period 2025 to 2032 CAGR: | 7.70% | 2032 Value Projection: | USD 5,255.4 Mn |
Growth in the electrical and electronic industry due to the increasing production of electrical products is a prime factor propelling market growth of cable joints. Rapid urbanization coupled with the robust growth of the power sector around the globe is also expected to propel the market growth of the cable joint. Up-gradation in the electronic infrastructure across emerging markets coupled with the development in the various manufacturing sectors such as automotive, oil &gas, mining, and petrochemicals, etc. are further anticipated to augment the market growth of cable joints. Technological advancement in the cable joints by manufacturers is another major factor expected to fuel the market growth.
Increasing railway projects is expected to drive the market growth during the forecast period. The growing demand for railways in developed countries is increasing the demand for better rail infrastructure. In addition, some of the countries in Europe are also planning to invest in railway infrastructure, which increases the demand for cables & cable joints in the region. For instance, in 2020, Britain railways planned to invest approximately $50,000 million for the development of new trains and upgrading existing tracks. Furthermore, increasing safety concerns in the railway industry are also driving the market growth. The advancements in technologies can lead to higher energy consumption. To minimize power consumption, most of the companies are focusing on developing energy-efficient systems, which consume less electric energy. Railway manufacturers are focusing on improving the safety and security of railways by replacing existing systems with advanced systems. Therefore, the growing installation of high-end electronics and safety features in the metro, light, and high-speed rails is increasing the demand for cable joints in the market.
Key features of the study