Market Introduction
The pin-and-sleeve devices are the preferred choice of the end consumers for secure and high-quality electrical connections in high-abuse environments, well-suited for power equipment including compressor, motor gen-sets, portable tools, conveyors, and lighting. These devices appropriately match the high-current power sources to the accurate equipment, integrating fused and switched interlock in corrosive or wet environments. If these devices are accurately selected, they can solve certain common challenges of installation. Pin-and-sleeve devices enable the insulation of the power supply from dirt, grime, moisture, and certain chemicals. These can be used for sealing the power connections against the environmental impact, avoid accidental disconnection under load, and offer high-end durability. These devices offer standardized designs at power ratings including 60A, 100A, 125A, and 200A.
Based on growth of the market, semiconductors is the fourth-largest export product in North America, following aircraft, refined oil, and automobiles business and it acts as a key driver for the US economic strengths. The US government has launched Creating Helpful Incentives to Produce Semiconductors for America Act (CHIPS for America Act) and the American Foundries Act. Both the mentioned acts plan to develop more semiconductor manufacturing and research as the government aims investment in mentioned areas assist the country’s semiconductor industry to grow. Booming semiconductor industry would help in propelling the manufacturing of pin and sleeve device.
Market Overview and Dynamics
The US pin and sleeve device market was valued at US$ 14.8 billion in 2019 and is projected to reach US$ 27.9 billion by 2027; it is expected to grow at a CAGR of 8.6% from 2020 to 2027.
Rising demand for these products in the high-abuse environments with critical requirements is driving the growth of the pin and sleeve device market. Moreover, these devices provide high durability, ease of installation, and safety measures depending on the convenience of electrical connection. This is also contributing to the growth of the pin and sleeve device market.
In the US, increase in disposable income of the individuals is playing a significant role in fuelling the demand for different consumer electronics. There is an increase in sales of consumer electronics due to rising demand from the individuals for LED lights, devices used in home automation, and networking products. This would positively impact the production of semiconductors, including pin and sleeve devices. This factor is projected to influence the pin and sleeve device market growth in the US. Moreover, owing to rising investments by the IT & technological companies for technological developments, the country holds a strong technological infrastructure to introduce new technologies in the pin and sleeve device market.
Key Market Segments
Based on product type, the connector segment dominated the pin and sleeve device market. Barrel connectors, Molex connectors, IEC connectors, and JST connectors are a few connectors used in varied applications. Companies, such as, Leviton give a complete IEC 60309 system of connectors, plugs, inlets, and mechanical interlock devices for both new installations and retrofit to ensure better performance and safety in the critical power connections.
Based on end user, the industrial segment dominated the pin and sleeve device market. Growing use of smart plugs & sockets and dustproof sockets across the diversified industries is likely to promote the scope of pin and sleeve device market in the US.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the pin and sleeve device market in US are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the pin and sleeve device market report are ABB Ltd., Amphenol Corporation, Eaton Corporation Plc, Emerson Electric, F. Walther Electric Corporation, Hubbell Inc., Legrand SA, Meltric Corporation, Mennekes, and Leviton Manufacturing Company, Inc.
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US PIN & SLEEVE DEVICE MARKET SEGMENTATION
- Receptacle
- Connector
- Inlet
- Plug
- Residential
- Commercial
- Industrial
Company Profiles
- ABB Ltd.
- Amphenol Corporation
- Eaton Corporation Plc
- Emerson Electric
- F. Walther Electric Corporation
- Hubbell Inc.
- Legrand SA
- Meltric Corporation
- Mennekes
- Leviton Manufacturing Company, Inc.