Europe Cable Management Market Size

Europe Cable Management Market Analysis

Europe's Cable Management Market was valued at USD 4.73 billion in the previous year and is expected to grow at a CAGR of 14.51% during the forecast period to become USD 10.04 billion by the next five years. There is also an increase in demand for cable management solutions, due to a growing deployment of cables throughout several European sectors. For instance, UK broadband statistics show the end of the third quarter of 2022, there were 27.8 million fixed broadband lines in the United Kingdom., an increase of 91,000 (0.3%) year-on-year. These were mostly FFTC and fully fibre versions, accounting for around 70 % of these 19.4 million.

• The growing renewable energy production, increasing reserves in smart grid technology, and government initiatives globally for upgrading distribution and transmission systems are driving the studied market. For instance, in April 2022, Siemens Energy was awarded a contract of approximately USD 1.95 billion for the NeuConnect project to lay undersea power cables between the United Kingdom and Germany that is likely to enable 1.4 gigawatts of electricity to pass in both directions between the U.K. and Germany.
• In addition, the primary reason for their increasing integration into the production process is the high quality of the flat surface of the wafers. The investment in the enhancement of wafers is expected to generate a strong growth opportunity within the European cable management market.
• Various companies in different regions have been bolstering their I.T. strategy. For instance, U.K. operator B.T. Group recently opened a robotic research facility that developed automated solutions for telecom and civil engineering to speed up fiber deployments. Such instances are anticipated to drive market growth over the forecast period.
• The growth of the cable management market in Europe, due to the requirement for miniaturisation of components, is also influenced by factors such as rising demand for highly energy efficient ICs, technological developments in semiconductors and increased use of radio frequency identification tags.
• In addition, high maintenance costs are restraining the development of the thin wafer processing and cutting equipment market. The evolution of such devices requires great precision, so their production could be improved.
• The Post COVID-19 crisis accelerated In a number of countries, demand for technology to create more effective and efficient society is increasing. In addition, complicated cable installations across a variety of vertical sectors have resulted from the deployment of high capacity networks. As a result, the market for cable management in Europe is being driven by an increased need to keep cables under control.