|Study Period:||2018 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The Cable Management Market was valued at USD 12.06 billion in 2020, and it is estimated to be worth USD 21.13 billion by 2026, registering a CAGR of approximately 10.76% during the forecast period (2021-2026). The COVID-19 pandemic has resulted in various supply chain challenges for manufacturers across the world and had a similar impact on the cable management market.
Vendors operating in the market were faced with shortages and price fluctuations in terms of raw material supply along with shortage of investments from end users and venture capitalists. For instance, according to the United Nations Conference on Trade and Development (UNCTAD) estimations, the pandemic caused a global FDI shrinking by 5-15%, owing to the downfall in manufacturing, coupled with factory shutdowns.
- While installing a new system or outfitting, there are two main cable management options: the traditional conduit system and an open cable tray system. Choosing a wire mesh cable tray over a conduit system offers many performance advantages, such as easier installation, simpler maintenance, and perhaps the most important factor, increased food safety.
- Therefore, increased food safety and other legislations implemented by various regulatory bodies, globally, such as Health Canada, CFIA, Environment Canada, and CCOHS, are driving the adoption of cable management solutions across the food and beverage industry.
- The emphasis on safety, coupled with the rise in the food and drink industry, which is the EU's largest manufacturing sector in terms of value added, bolstered the market growth. The industry is also an asset in trade with non-EU countries. The European Union boasts of a significant trade surplus in the trade of food products, and EU food specialties are well appreciated overseas.
- Other key trends driving the demand for cable management products include explosive growth of the information technology sector and the increased reliance of institutions and businesses on high-performance data and communication cabling. Many leading manufacturers report that majority of their markets for raceways and other systems are for data and communication applications. As a result, manufacturers are developing newer products and system improvements that are taking these systems well beyond their humble origins.
Scope of the Report
Cable management refers to the management of electrical or optical cable in a cabinet. Products such as cable trays, cable ladders, and cable baskets are used to support a cable through cabling routes. The study under scope segments the market by Product Types (Cable Trays, Cable Raceways, Cable Conduits, Connectors and Glands, Cable Carriers, Cable Lugs, and Junction/Distribution Boxes, amongst others), by End-user Industries (IT and Telecommunication, Construction, Energy and Utility, Manufacturing, and Commercial), and Geography.
|Cable Connectors and Glands|
|Other Product Types (Ties, Covers, Fasteners, Clips)|
|IT and Telecommunication|
|Energy and Utility|
|Other End User Industries|
|Middle East and Africa|
Key Market Trends
Energy Sector Offers Potential Growth
- The electricity transmission market is currently undergoing a major change with countries in pursuit of better efficiencies and more suitability for wheeling renewable energy. Increasing renewable power capacity has also increased the need for countries to interconnect their transmission systems in order to balance generation and demand through export and import of electricity.
- This, in turn, has pushed the construction of higher capacity interconnection lines which requires proper cable management to function smoothly.
- According to OMICS International, less than 0.02% of available solar energy resources are sufficient to entirely replace fossil fuels and nuclear power as an energy source. Thus, solar PV uses and applications have been justified and strongly recommended for grid electrification which in return creates a market for cable management market.
- Moreover, in the developing nations like, India which receives twice as much sunshine as compared to European countries, solar power is used as an effective renewable energy generation source. Thus, the Government of India has set a goal to raise solar power generation to 100 GW by 2022. All these initiatives will help solar energy to increase which in return will help the cable management market to flourish because it will ensure that space is utilized while wiring and maintains proper network performance of those wires with proper industry standards.
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Asia Pacific to Witness Fastest Growth
- Owing to huge investments in infrastructure, telecommunications, energy, and technology development by emerging nations like India and China, it is creating huge opportunities for the cable management market.
- Moreover, according to NITI Aayog, India is home to 18% of the world’s population but uses only 6% of the world’s primary energy. India’s energy consumption has almost doubled since 2000 and the potential for further rapid growth is enormous. Urbanization will be a key diver of this trend which in result will create a positive outlook for the cable management market.
- Further, Japan is hosting Summer Olympics 2020 which will ensue in infrastructural development, which is anticipated to propel the growth of cable management market during the forecasted period
- Therefore, all the above factors combined will fuel the cable management market in the Asia-Pacific region during the forecasted period.
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The cable management market is competitive and fragmented in nature. Some of the prominent players in the market are Thomas & Betts Corporation (ABB group), Schneider Electric SE, Cooper Industries (Eaton), Chatsworth Products Inc., HellermannTyton, etc. These leading manufacturers have identified potential markets in underdeveloped countries and they have started entering in those regions.
- December 2020 - ABB formed a strategic partnership with AFC Energy , based in Cranleigh, Surrey, United Kingdom to create the next generation of high power sustainable electric vehicle (EV) charging solutions for grid constrained locations. The cable management system would in addition support a clean and organized charging station wires and the charging stations are expected to adopt such cable management solutions.
- February 2021 - Chatsworth Products Inc. (CPI) made additions to the ZetaFrame Cabinet, which delivers multiple customization options and includes the benefits of an enhanced Cable Management System with all cable management accessories factory-installed, allowing its independent or customized combinational use.
- December 2020 - Eaton manufactures and expedites critical power management equipment under strict protection disciplines during the COVID-19 crisis. By 2035, half of the global power generation will be from renewable energy resources, and power management company Eaton is helping the State Grid Corporation of China (SGCC) add more renewables to its grid. Cable management would play a crucial role in the installations of renewable energy grid installations.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Industry Attractiveness - Porter's Five Force Analysis
4.2.1 Threat of New Entrants
4.2.2 Bargaining Power of Buyers/Consumers
4.2.3 Bargaining Power of Suppliers
4.2.4 Threat of Substitute Products
4.2.5 Intensity of Competitive Rivalry
4.3 Industry Value Chain Analysis
4.4 Market Drivers
4.4.1 Demand in Renewable Energy Commercialization
4.4.2 Growing Trend of Digitization & Adoption of Connected Solution
4.5 Market Restraints
4.5.1 Volatile Raw Material Prices
4.6 Impact of COVID-19 on the Market
5. MARKET SEGMENTATION
5.1.1 Cable Trays
5.1.2 Cable Raceways
5.1.3 Cable Conduits
5.1.4 Cable Connectors and Glands
5.1.5 Cable Carriers
5.1.6 Cable Lugs
5.1.7 Junction/Distribution Boxes
5.1.8 Other Product Types (Ties, Covers, Fasteners, Clips)
5.2 End-user Industry
5.2.1 IT and Telecommunication
5.2.3 Energy and Utility
5.2.6 Other End User Industries
5.3.1 North America
5.3.3 Asia Pacific
5.3.4 Latin America
5.3.5 Middle East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Company Profiles*
6.1.1 ABB Ltd
6.1.2 Schneider Electric SE
6.1.3 Cooper Industries (Eaton)
6.1.4 Chatsworth Products Inc
6.1.6 Panduit Corporation
6.1.7 Prsymian SP
6.1.8 Legrand SA
6.1.9 Leviton Manufacturing Co. Inc.
6.1.10 Atkore International Holdings
6.1.11 Enduro Composites SP
7. INVESTMENT ANALYSIS
8. FUTURE OF THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Cable Management Market market is studied from 2018 - 2026.
What is the growth rate of Cable Management Market?
The Cable Management Market is growing at a CAGR of 10.76% over the next 5 years.
Which region has highest growth rate in Cable Management Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Cable Management Market?
North America holds highest share in 2020.
Who are the key players in Cable Management Market?
Schneider Electric SE, ABB LTD , Eaton Corporation plc , chatsworth products inc. , Hellermanntyton (Aptiv) are the major companies operating in Cable Management Market.