Cable Management Systems Market is expected to be valued at US$ 34,077.7 Million by 2027 - Coherent Market Insights

The Global Cable Management Systems Market, By Product Type (Cable Tray, Raceway, Floor Duct and Junction Box, Conduit, Connectors, Glands, Cable Chains and Reels, Lugs and Tools and Others (Cable Tags, Route Markers, etc.)), By End-use Industry (IT & Telecom, Manufacturing, Energy & Utility, Healthcare, Logistics & Transportation, Mining and Others (Residential & Government)) and by Region (North America, Europe, Asia Pacific, Rest of the World) - Global Forecast to 2027”, is expected to be valued at US$ 34,077.7 Million by 2027, exhibiting a CAGR of 11.8% during the forecast period (2020-2027), as highlighted in a report published by Coherent Market Insights.

Overview

Cable management supports and contains cables during installation. It makes subsequent maintenance or changes to the cable system easier. Products such as cable baskets, cable trays, and cable ladders are used to support a cable through cabling routes. Cable management primarily finds applications across varied end-use applications such as IT & telecom, energy & utility, logistics & transportation, mining, healthcare, government & residential and manufacturing. Cable management makes maintenance or changes to the cable system easier as it provides support during installation.

The global Cable Management Systems Market was accounted for US$ 13,924.3 Mn in terms of value in 2019 and is expected to grow at CAGR of 11.8% for the period 2020-2027.

Market Driver

Major infrastructure development in MENA and recovering construction sector in developed regions is expected to propel the global cable management systems market growth over the forecast period

Increased construction activities in MENA have benefited many industries including the global cable management systems market. Recently, countries such as Saudi Arabia, UAE, and Qatar have undertaken significant infrastructure and building plans. The Middle East and Latin America regions are expected to be the key markets for cable management systems. The growth in demand for cable management products is slated to increase further due to extensive industrialization and technological advancements taking place in this region. Furthermore, Qatar is expected to vast opportunities for potential investment in the construction sector ahead of the FIFA World Cup scheduled to be held in the country in 2022, along with other infrastructure projects planned as part of the Qatar National Vision 2030 program. Therefore, these factors are expected to drive growth of the global cable management systems market in the near future.

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

Recently, countries such as Saudi Arabia, UAE, and Qatar have undertaken significant infrastructure and building plans. Increased construction activities in MENA have benefited many industries including the global cable management systems market. The COVID-19 pandemic have adversely affected the construction industry in the MENA market. According to the CMI study in 2020, Country in the middle east region such as Iran, Iraq and Lebanon are worst affected by COVID-19 pandemic. These mentioned countries have also imposed nationwide lockdown, which resulted in the halt of the construction projects. Owing to the reduced construction activities, the demand of the cable management systems is also expected to reduce during the forecast period.    

Market Opportunity

Rising global energy demands can present lucrative growth opportunities

The increasing electricity access percentage (%) in emerging economies such as China, India, Brazil, and Russia acts as a driving force behind the rising demand for power generation. The electricity access percentage (%) in the year 2010 for China, India, Brazil, and Russia was 99.7%, 75.0%, 98.9%, and 100.0%, respectively. Moreover, increase in the load (energy consumption) apart from high transmission and distribution losses highlights the need for more substations. Due to rapid economic development and growing need for uninterrupted and reliable power supply in these countries, the demand for power is expected to increase over the forecast period.

Market Restraint

Lack of uniform standards and interoperability is expected to hinder the global cable management systems market growth over the forecast period

The regulatory standards regarding the use and application of cable management systems are different in various countries. Currently, there are no uniform standards for cable management systems, which hinders the interoperability of these products. Manufacturers are required to produce different products as per a country’s specifications. Hence, these factors are expected to hinder the global cable management systems market growth over the forecast period.

Market Trends

1. North America Trends

Among regions, North America is expected to witness significant growth in the global cable management systems market during the forecast period. This is owing to presence of key manufacturers such as Thomas & Betts Corporation across the region. Furthermore, high growth of telecom and IT sectors is expected to drive the regional market growth during the forecast period.

2. Asia Pacific Trends

Asia Pacific is expected to register robust growth rate in the global cable management systems market over the forecast period. This is owing to rapid growth of transportation and logistics sector across the region. Furthermore, rising applications of cable management systems in mining and healthcare sector is expected to boost the regional market growth over the forecast period.

Competitive Section

Key players operating the global cable management systems market are 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, Oglaend System Group, Enduro Composites, Inc., and Niedax Group.

Key Developments

1. Major companies in the market are focused on collaboration and partnerships, in order to enhance the market presence. For instance, in April 2020, Chatsworth Products, Inc. collaborated with RF Code to deliver integrated wire-free monitoring and management for eConnect Power Distribution Units.
2. Major market players are involved in mergers and acquisitions, in order to gain a competitive advantage in the market. For instance, in August 2017, Hilti Group acquired Oglaend System Group, a Norwegian company, to strengthen its position offshore.

 Segmentation