Lucintel Forecasts Global Cable Lugs Market to Reach $9.9 billionby 2030

CITY, Country, 2023-Sep-21 — /EPR Network/

“According to a market report by Lucintel, the future of the global cable lugs market looks promising with opportunities in the automotive, construction, manufacturing & processing, power & utilities, and aerospace applications. The global cable lugs market is expected to reach an estimated $9.9 billion by 2030 with a CAGR of 6.2% from 2024 to 2030. The major drivers for this market are rising need for low voltage and medium voltage electrical systems in the construction and automotive industries , tremendous demand for energy and energy services, and growing number of renewable energy projects.

A more than 150 — page report is developed to understand Trends, opportunity and forecast in cable lugs to 2030 by type (aluminum, copper, plastic, stainless steel, and others), end use industry (automotive, construction, manufacturing & processing, power & utilities, aerospace, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)In this market, aluminum, copper, plastic, and stainless steel are the major segments of cable lugs market by type. Lucintel forecast that aluminium is expected to witness highest growth over the forecast period due to its higher safety, reliability and secure connection between the wires, which allows electricity to be safely transmitted.

Within this market, automotive will remain the largest segment due to significant usage of cable lugs to create strong electrical connections between automotive batteries and components and endure vibrations and shocks.

This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1–972–636–5056 or write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.

Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056

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