Rise in the adoption of cable lugs in the construction industry due to its capabilities of guaranteeing a very safe and long lasting connection is acting as a major growth driver for the cable lugs market. Therefore, the growing need of adoption and integration of solid, stranded and fine stranded copper conductors in the current electrical ecosystem in the form of compression cable lugs and standard tubular cable lugs is also one of the key factor anticipated to catalyze the growing demand of cable lugs during the forecast period. In addition, adoption of heavy duty copper lugs for using with copper wires and cables for applications like medium voltage and high voltage electrical reticulation system is also anticipated to increase the demand of cable lugs in the upcoming years. In turn this is also projected to affect the cable lugs market in a positive manner during the forecast period.
In spite of many driving factors, the cable lugs market is expected to show a shrink and fluctuation in growth rate because of the requirement of diversified tabular cable lugs for various conductor classes for different manufacturer. Diamond crimp design evenly allocates the crimping pressure to fuse the terminal to the copper cable without distorting or cracking the terminals. The key disadvantage of this type of crimp is that a very small surface area of the lug is being compressed and used in restricted space connection and more commonly seen in automotive application than the critical construction application; this is also one of the major restraining factor for the global cable lugs market. The growing urbanization in BRICS nations is going to create significant opportunity for the cable lugs market as a part of construction business in the coming years.