Cable Management System Market Valuation of US $33.9 Bn by 2024: Promising Opportunities to Emerge in Asia Pacific

Albany, NY — 01/12/2018 — The global market for cable management systems is likely to report a remarkable growth in the coming years. The opportunity that this market holds is expected to expand at CAGR of 9.80% during the period from 2016 to 2024 and rise from US$14.7 bn in 2015 to a value of US$33.9 bn by the end of 2024.

The world is undergoing a period of rapid digitization, thanks to the emergence of fiber-optic and coaxial cables. The rise in wiring and cabling in devices as well as infrastructure is leading to increased incidence of cable spaghetti (a situation where cables are badly entangled), thereby accelerating the need for cable management systems across the world.

Presently, information technology is witnessing a remarkable upsurge. A number of enterprises and institutions are increasingly becoming dependent of it that has required them to install high-performance cabling. This factor has fueled the demand for advanced cable management systems for data and communication applications remarkably across the world. In addition to this, an upswing in the application of communication technology is anticipated to increase the demand for these systems in the coming years.

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Cable Trays Find High Demand in Oil and Gas Sector

Major products available in the worldwide cable management system market are cable tray, raceway, cable ladder, cable trunking, cable connector, cable conduit, cable gland, cable lug and tools, cable chain and reel, and cable duct. Cable trays report the highest demand among all the cable system management products, accounting for a share of approximately 18% in the overall demand and a share of 14% in terms of revenue generated.

The safety features, high-weight-holding capacity, compactness, cost-efficient design criteria, and maintenance-free deployment has increased the popularity of cable trays substantially, leading to their accelerated application in the oil and gas sector. The segment is expected to retain its dominance in the coming years.

Promising Opportunities to Emerge in Asia Pacific

The worldwide market for cable management systems is spread across Latin America, North America, Europe, Asia Pacific, and the Middle East and Africa. Presently, the highest consumption of these systems is being reported in North America. In 2015, the region registered an opportunity worth US$4.34 bn in this market, which is likely to increase to US$10.22 bn by the end of 2024.

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Although North America will remain the leading regional market for cable management systems, Asia Pacific is projected to offer most attractive opportunities for market players over the next few years. The rapid urbanization in Asia Pacific and the Middle East and Africa is likely to propel construction activities, specifically in BRICS nations, attracting a significant demand for these systems in the near future.

The presence of a number of companies demonstrates a fragmented structure of the global cable management system market. TE Connectivity Ltd., HellermannTyton Group PLC, Thomas & Betts Corp., Niedax Group, Marco Cable Management, Schneider Electric SE, Vantrunk Int., Allied Tube & Conduit, Panduit Corp., Chatsworth Products Inc., Leviton Manufacturing Co. Inc., Enduro Composites Inc., Cooper Wiring Devices, Legrand SA are the major manufacturers of cable management systems across the world.

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About the Author: Carrie Brunner

Carrie Brunner grew up in a small town in northern New Brunswick. She studied chemistry in college, graduated, and married her husband one month later. They were then blessed with two baby boys within the first four years of marriage. Having babies gave their family a desire to return to the old paths – to nourish their family with traditional, homegrown foods; rid their home of toxic chemicals and petroleum products; and give their boys a chance to know a simple, sustainable way of life. They are currently building a homestead from scratch on two little acres in central Texas. There’s a lot to be done to become somewhat self-sufficient, but they are debt-free and get to spend their days living this simple, good life together with their five young children. Carrie writes mostly on provincial stories.
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