CABLE MANAGEMENT SYSTEM MARKET ANALYSIS

Cable management is the installation of cable management systems to secure cables for electrical services in an organization or industry or vehicle. This term is used for products or workmanship. Cable management finds applications in various end-use industries including mining, IT & telecom, healthcare, government, logistics & transportation, residential & government, manufacturing, etc. Products such as raceways, cable trays, and floor ducts are used to support a cable through cabling routes. Cable management further provides end-users with benefits such as labor-saving, cost-saving, increased adaptability, enhanced safety, and low maintenance.

The global cable management systems market is estimated to account for US$ 16,811.6 Mn in terms of value by the end of 2021 and is expected to grow at a CAGR of 12.1% during the forecasted period (2022-2030).

Market Opportunity

The gradual shift towards robotic cable management can present lucrative growth opportunities

Previously, cable management was performed manually by skilled workers. However, with technological developments and the rising efficiency and reliability of machines, cable management has increasingly become robotic. Over the past five decades, cable management on robots has been overlooked often. A majority of the experts agree that designers regularly make errors in estimating and solving cable management problems. A group of system integrators categorized cable issues as the primary reason behind downtime, at a conference hosted by the Robotic Industries Association (RIA) These issues range from corkscrewed and tangled cables to complete breaks which lead to revenue losses, downtime, and damaged reputations.

 Research and development activities can provide major business opportunities

Key players operating in the market are focused on research and development activities, in order to enhance the market presence. For instance, in November 2014, Maxell Industries showcased its product offerings in the cable management segment at the BIG 5 SHOW held at the Dubai World Trade Center in the UAE. Furthermore, in October 2014, Allied Tube & Conduit launched BIM models available through SmartBim for electrical metallic tubing (EMT), intermediate metal conduit (IMC), rigid steel conduit, nipples, and elbows.

Market Restraint

Price fluctuations in raw materials are expected to restrain the growth of the global cable management systems market during the forecast period

There are some key materials required for manufacturing of cable management systems including aluminum, plastics, steel, and copper. The line charts above and below illustrate the monthly volatility rate in the carbon steel and composite steel prices for the past 18 months, respectively. Both types of steel are used in manufacturing cable management products such as cable trays, raceways, floor ducts, conduits, connectors, glands, cable chains and reels, and lugs. Therefore, these factors are expected to restrain the growth of the market during the forecast period.

 High market fragmentation at regional levels is expected to hinder the global cable management systems market growth over the forecast period

The global cable management systems market is highly fragmented with the presence of both organized and unorganized players in the market. The presence of a large number of local players poses a significant threat to global cable management system manufacturers. Therefore, high market fragmentation at the regional level hinders the growth of cable management systems globally. Furthermore, regional regulations for manufacturers that differs as per region combined with end users buying patter are expected to hinder the market growth over the forecast period.

Cable Management Systems Market - Impact of Coronavirus (Covid-19) Pandemic:

Owing to Covid-19 almost each and every industry got heavily impacted. In addition to this various norms imposed by the government resulted in the suspension of various businesses. This suspension leads to a halt in the development of Cable Management Systems. Furthermore, there was less workforce available which caused disruptions in the Maintenance of the cable line and the entire Cable Management Systems market got collapsed for a certain time. This impact remains for a long time resulting in a sharp drop in revenues of the cable management system market.

Moreover, delays are created in construction projects due to the imposed lockdown. There was also a shortage of skilled workers and raw materials at the construction sites. According to the CMI study, the cost of skilled construction labor increased during the year 2020-21. Owing to this, the overall cost of construction projects also increased. Thus, the demand for cable management systems was reduced, which has adversely hampered the sale of cable management systems during the COVID-19 Pandemic.

Competitive Scenario

Key players operating in the global Cable Management Systems market include Marco Cable Management, Schneider Electric SE, Maxell Industries LLC, Legrand SA, Kripson Electricals, Thomas & Betts Corporation, Allied Tube & Conduit, Chatsworth Products, Inc., TE Connectivity Ltd., TransDelta International Industries LLC, Hilti Group, Oglaend System Group, Enduro Composites, Inc., and Niedax Group.

 Recent Developments:

In February 2021, Chatsworth Products, a global manufacturer of solutions and products that protect consumers’ investments in the IT and automation industry, launched ZetaFrame Cabinet, a products that include a wide range of accessories for cable management systems.

Forecasted Asia Pacific is expected to hold a dominant position in the Cable Management Systems Market in 2030

Statistics:

Asia Pacific held a dominant position in the global Cable Management Systems market in 2021, accounting for a 30.1% share in terms of value, followed by North America and Europe respectively

Figure 1: Global Cable Management Systems Market Share (%), By Region, 2021

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Asia Pacific is expected to be one of the prominent regions in the global market and witness high growth during the forecast period. This is owing to the increased use of Cable Management Systems in Construction industries.

 Figure 2: Global Cable Management Systems Market (US$ Mn) Analysis and Forecast, 2017 – 2030

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The Global Cable Management Systems Market was valued at US$ 16,811.6 Mn in 2021 and is expected to reach US$ 46,157.8 Mn by 2030, growing at a CAGR of 12.1% between 2022 and 2030.