The global cable management system market will have worthwhile, profit-making opportunities for the vendors with the crucial shift toward robotic cable management, finds a new study by Transparency Market Research (TMR). However, the failure with the synchronization of cables due to the dynamic nature of robots has forced the need for advancement in robotic cable management. The global market is segmented in respect of product type, material, and end-use industry.
The international market for cable management systems is envisaged to register a fighting CAGR of 9.80% between 2016 and 2024 on the back of the flourishing demand for cable trays. The analysts have estimated the global market to reach US$33.94 bn by the end of the forecast period from US$14.73 bn in 2015. North America is studied to hold a king’s share of US$10.22 bn in the market.
The report has given out some promising recommendations for the cable management system market players. These are perpetual innovation alongside product development, professional technical support, safe and permissible loading of cable support systems, and product testing before installation for compliance with government regulations. Schneider Electric SE has decisively gambled with an investment for the future market value by manufacturing busbar trunking systems, a lucrative alternative to conventional cables.
Marco Cable Management, Enduro Composites, Inc., Niedax Group, Leviton Manufacturing Co., Inc., HellermannTyton Group PLC, and Allied Tube & Conduit (Atkore International Holdings Ltd.) are some of the other players studied in the report.
BRICS to Spur Growth with Increased Infrastructure and Construction Activities
The worldwide cable management system market is anticipated to ride on the rising growth in the construction sector of the BRICS economies. With Brazil allocating US$300 bn and India roughly US$500 bn toward infrastructure development, the demand for cable management systems will see an increase. Large-scale events such as the 2018 FIFA World Cup in Russia are also predicted to add to the demand.
Other factors that are envisioned to help with the growth of the cable management system market are the increasing energy demand globally, recovering construction industry in the developed regions, augmented construction activities in MENA, mature economies renewing and upgrading existing networks, and accelerating bandwidth requirements.
Volatile Raw Material Prices and High Fragmentation to Comatose Demand
Cable management system manufacturers are hesitant to adjust their profit margins under a certain limit to cope with the volatile prices of raw materials such as plastics, steel, copper, and aluminum. This has additionally increased the product prices as the manufacturers are finding it challenging to keep the production cost at an optimum level. Besides this, the global manufacturers could experience a threat from the local players in regional markets, which have brought about a high market fragmentation scenario.
Howbeit, the worldwide elevating progress in infrastructure and construction development and urbanization in Asia Pacific countries have led to an advancement in economic activities. This in turn is foretold to offer comprehensive opportunities for the adoption of cable management systems. Upcoming opportunities in the oil and gas industry of the U.S. and the British Electrotechnical and Allied Manufacturers’ Association’s (BEAMA) efforts toward energy efficiency and product safety are some of the good instances mentioned in the report to prove its aforementioned analysis.
The study presented here is based on a report by TMR titled “Cable Management System Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 - 2024.”
The global market for cable management system has been segmented in the following arrangement.
Cable Management System Market: By Product
- Cable Tray
- Cable Ladder
- Cable Trunking
- Cable Conduit
- Cable Connector
- Cable Gland
- Cable Chain and Reel
- Cable Lug and Tools
- Cable Duct
- Others (Cable Tags and Route Markers)
Cable Management System Market: By Material
Cable Management System Market: By End-use Industry
- IT and Telecom
- Energy and Utility
- Logistics and Transportation
- Oil and Gas
Cable Management System Market: By Region
- North America
- The U.S.
- Rest of North America
- Rest of Europe
- Asia Pacific
- South Asia
- Rest of APAC
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- Latin America
- Rest of Latin America
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