The Global Cable Management Accessories Market, By Product Type (Cable Lung, Cable Marker and Heat Shrink Tube), By End User (IT and Telecom, Manufacturing, Energy & Utility, Health Care, Logistics and Transportation (Railways and Other), Mining, Oil & Gas, Construction,(Residential and Commercial)) and by Region (North America, Latin America, Europe, APAC and Middle East & Africa) - Global Forecast to 2027”, is expected to be valued at US$ 2889.0 million by 2027, exhibiting a CAGR of 7.9 % during the forecast period (2019-2027), as highlighted in a report published by Coherent Market Insights.
Cable management accessories are physical systems that help to minimize the planning process by adequately maintaining documented physical networks. These accessories are important in most industrial applications, in order to prevent financial losses and provide high productivity. Various business owners, especially from the manufacturing domain, invest substantially in high-end cable management systems, in order to maintain efficient electrical services in organizations. By reviewing surplus items, cable management accessories help to enhance lifecycle of data assets of telecommunications. Moreover, these systems manage telecommunication inventory to provide organizational efficiency. Cable management accessories also provide enhanced performance, functional flexibility, and safety. Moreover, these accessories help to avoid business damages. Manufacturers in the market are introducing novel accessories with lightweight yet durable materials, especially for the aerospace industry.
The global cable management accessories market was valued for US$ 1573.5 Mn in 2019 is expected to exhibit a CAGR of 7.9% during the forecast period
Strict regulatory policies regarding cable management are expected to boost the global cable management accessories market growth over the forecast period
The regulatory policies regarding cable management accessories are applicable to electrical installations across various end-use industries such as construction, manufacturing, health care, IT and telecom, and energy & utility. These regulatory policies related to cable support systems ensure that there are no unwarranted mechanical strains on the conductors. Moreover, they consider the safety aspect of cables and other additional requirements along with their connections. Although regulatory policies may differ from region to region or country to country, the need for compliance the local regulations or requirements is equally considered along with international regulations. For instance, in the U.K., BS 7671:2001 under IEE Wiring Regulations is the key prevailing industry standard for cable and wiring installations. Hence, strict regulatory policies pertaining to cable management are expected to support the global cable management accessories market growth over the forecast period.
High demand for Tubular cable lugs can provide major growth opportunities over the forecast period
Tubular cable lugs are being increasingly used in the ultrasonic crimping process. A crimping tool is a device utilized to conjoin two pieces of metal by deforming one or both of them in a way that causes them to hold each other. Such processes require efficient management of cable systems. Tubular cable lugs provide stability in high-frequency energy consumption for ultrasonic crimping processes, thereby facilitating time and energy-efficient alternative in the ultrasonic crimping process.
Lack of compatibility tool components is expected to hinder the global cable management accessories market growth during the forecast period
Certain tool components are not universally compatible, which makes it difficult to select components within one system from the same manufacturer. Lack of compatibility tool components increases the cost of the final product, which in turn, is expected to hinder the global cable management accessories market growth during the forecast period.
High growth in information technology sector and growing dependence on institutions and businesses that utilize high-performance cabling on IT are the major factors influencing growth of the market. The rapid developments in communication technology indicate very fewer signs of slowing down in the near future. As a result of this, there is a high demand for markers for data/communication applications. Thus, cable management accessories manufacturers have been developing new products and systems that can adapt to these varying demands.
IT industry requires frequent addition/ removal/movement of data cables throughout the period of cable installation. The traditional method involves installment of fixed cables between cabling cabinets and closets. However, this results in entangling of cables or ‘cable spaghetti’. This, in turn, results in increased failures and breakdown in systems. However, advent of fiber-optic coaxial cables has led to rapid digitization in all fields worldwide. Thus, cable lugs and markers are increasingly being used in order to cope with rapidly evolving technologies.
Key players operating in the global cable management accessories market are Partex Marking Systems USA, Cooper Wiring Devices (Eaton Corporation), Schneider Electric SE, Chatsworth Products, Inc., Legrand SA, Weidmuller Interface GmbH & Co. KG, Thomas & Betts Corporation, Anixter Inc., HellermannTyton Group PLC, Panduit Corp., TE Connectivity Ltd., Cembre SpA, Klauke GmbH, and CableOrganizer.com LLC.