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Standardized Cable Lugs Support Crimp Connectivity

Cable management accessories are a mandate in most industrial applications to ensure high productivity and avoid financial losses. Stakeholders in the manufacturing domain are increasingly investing in high-end cable management systems to maintain efficient electrical services in organizations. This has led to the development of efficacious cable lugs. Manufacturers in the cable management accessories market are competing to develop insulated and non-insulated cable lugs that guarantee consistent electrical connection in various applications. Thus, end users are increasingly benefitting from the advantageous attributes of cable lugs.

In terms of value, cable lugs type segment of the cable management accessories market is expected to reach a value of ~US$ 1.6 Bn by 2027. Hence, manufacturers are increasing production capabilities of cable lugs that meet international standards. For instance, Weidmuller - a provider of industrial solutions, excels in the production of multi-purpose cable lugs that comply with global standards of DIN and UL. Companies in the cable management accessories market landscape are developing cable lugs that offer best crimp connections with various crimping tool sets.

cable management accessories market infographic

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Demand for Tubular Cable Lugs to Generate Incremental Opportunities

Amongst regions, the cable management accessories market in Asia Pacific and North America is likely to experience exponential growth during the forecast period. Developing economies of Asia Pacific, such as India, are targeted for growth, owing to the booming infrastructure sector in these countries. This trend has fueled the demand for cable management accessories, since electricity demand is projected to grow two-fold with increased urbanization. Moreover, there is a steady demand for quality electrical infrastructure that supports electricity demands in the future.

Tubular cable lugs are being increasingly used in the ultrasonic crimping process. These cable lugs are a novel introduction in the production of electrical drives in the cable management accessories market landscape. Tubular cable lugs ensure stability in high-frequency energy consumption for ultrasonic crimping processes. Thus, tubular cable lugs are a time and energy-efficient alternative in ultrasonic crimping processes.

Growing Demand for Cable Management Accessories in Aerospace and IT Sectors

Manufacturers in the cable management accessories market are leveraging new opportunities in the aerospace industry, since there is a growing demand for weight-reducing materials in the aerospace industry. Thus, manufacturers in the cable management accessories market are increasing the production of customized and precision parts that cater to the needs of engineers in the aerospace industry. They are focusing on weight savings for performance gains. Moreover, various companies are collaborating to develop reliable wiring solutions for in flight entertainment systems.

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Furthermore, companies operating in the cable management accessories market are developing heat shrink closures that enhance network performance. As such, heat shrink tubes type segment is projected to reach a value of ~US$ 450 Mn by 2027. Thus, the pervasively growing IT & telecom sector is propelling the demand for heat shrink closures. Additionally, tried and tested efforts have led to innovations in splice closures that support cable diameters and joint dimensions.

Companies Develop Laser Marking Systems to Address Problems of Counterfeit Cables

The cable management accessories market is consolidated with four major players accounting to ~45-50% of the total market share. However, certain issues in the market landscape are slowing down market growth. For instance, finding a suitable marking solution for steel wires is one of the challenges for end users in the cable management accessories market landscape. In order to improve the traceability of wires, there is a growing need for innovative solutions that prevent counterfeit cables. Hence, manufacturers in the cable management accessories market are increasing their efficiency in laser marking solutions.

Laser marking systems are being increasingly used to improve traceability and generate identification codes for cable and wire markings. As such, cable markers type segment of the cable management accessories market is anticipated to reach a value of ~US$ 800 Mn by the end of 2027. Hence, companies are catering to the needs of end users by developing easy-to-use software integrated systems. These systems are being increasingly adopted in the rapidly growing industrial production sector. Moreover, companies in the cable management accessories market are increasing R&D activities to develop systems based on maintenance-free fiber laser sans the need for additives or pigments.

cable management accessories market segmentation

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Analysts’ Viewpoint

Besides expanding product portfolio, manufacturers should increase their efficacy in data provision for stakeholders in end-use industries. Manufacturers should increase their production capacities of laser marking systems, as these novel systems are pervasively replacing industrial ink jets. Companies in the cable management accessories market are offering cost-efficient solutions to stakeholders, since laser marking solutions significantly augment marking processes.

However, lack of compatibility in tool components acts as a restraint for manufacturers. Hence, manufacturers should increase awareness about selecting components within one system and from the same manufacturer to avoid incidence of contact resistance and increased temperatures in the connection technology. Companies should invest in solutions for stakeholders in energy & utility end-use industry to gain business stability.

Cable Management Accessories Market: Overview

  • According to Transparency Market Research’s latest research report on the global cable management accessories market for the historical period of 2017–2018 and the forecast period of 2019–2027, major advancements in the global infrastructure sector, rise in renewable energy generation, increase in the number of infrastructure developmental projects in Middle East & Africa, growth of the global construction industry, and stringent regulations on cable management accessories are likely to fuel the global cable management accessories market during the forecast period
  • In terms of revenue, the global cable management accessories market is estimated to reach a value of ~US$ 2.9 Bn by 2027, expanding at a CAGR of ~8% during the forecast period 

Advancements in Global Infrastructure Sector and Increase in Renewable Energy Generation: Key Drivers of Cable Management Accessories Market

  • Investments in the global infrastructure sector have been increasing over the years, owing to rise in focus on the infrastructure sector in developed as well as developing economies. Suring demand for innovative solutions to fulfill requirements of end users is also likely to fuel the global cable management accessories market during the forecast period.
  • Energy infrastructure and public sector infrastructure, such as railways, roads, airports, and communication networks across the globe need to be expanded and replaced. This factor is driving the demand for cable installations, subsequently augmenting the demand for cable lugs and markers.
  • Increasing electricity access percentage (%) in developing economies, such as China, India, Brazil, and Russia, acts as a key factor driving the demand for power generation
  • Rising investments in energy generation, distribution, and transmission infrastructure are expected to create significant demand for cable lugs and cable markers in the near future. These factors are primarily fueling the global cable management accessories market.
    • In 2019, the Abu Dhabi Fund for Development (ADFD) announced to provide US$ 350 Mn for the implementation of government-supported renewable energy projects worldwide

Constant Growth of Information Technology Sector: Latest Trend in Cable Management Accessories Market

  • A key trend that is witnessed in the global cable management accessories market is growth in the adoption of information technology (IT) and rise in the dependence of institutions and businesses that use high-performance cabling for IT
  • Rapid advancements in the communication technology last long, due to constant innovations in the communication sector and increasing demand among customers
  • Due to this, the demand for markers for data/communication applications is increasing. As a result, manufacturers of cable management accessories have started developing new products and systems that can adapt to varying requirements. 

Fluctuations in Prices of Raw Materials a Major Challenge for Cable Management Accessories Market

  • Some of the key raw materials required to manufacture cable management accessories include steel, copper, aluminum, and plastics
  • Prices of some of these raw materials such as steel and plastics have been volatile and unpredictable historically
  • This factor makes it difficult for cable manufacturers to continue production at optimum prices. Manufacturers are reluctant to compromise on their profit margins below a certain limit and thus, the load of additional prices is reflected on the end user price.
  • The impact of this factor is expected to remain moderate during the forecast period 

Cable Management Accessories Market: Competition Landscape

  • Detailed profiles of providers of cable management accessories have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
  • Key players operating in the global cable management accessories market are
    • Cembre S.p.A.
    • Chatsworth Products, Inc.
    • Eaton Corporation Inc.
    • HellermannTyton Group PLC
    • Gustav Klauke GmbH (Emerson Electric Co.)
    • Legrand S.A.
    • Panduit Corporation
    • Partex Marking Systems AB
    • Schneider Electric SE
    • TE Connectivity Ltd.
    • Thomas & Betts Corporation (ABB Ltd) 

Cable Management Accessories Market: Key Developments

Key providers of cable management accessories, such as Schneider Electric SE, Thomas & Betts Corporation (ABB Ltd), Eaton Corporation Inc., TE Connectivity Ltd., HellermannTyton Group PLC, and Lagrand S.A., are focusing on acquisitions and development of innovative products to offer a diversified range of products and gain customers. Some other key developments in the global cable management accessories market are:

  • In August 2018, HellermannTyton Group PLC designed an innovative flexible mounting solution i.e. FlexTack. This flexible cable tie mount is designed for use on angled and curved surfaces.
  • In July 2018, Panduit Corp. introduced its newly developed and the smallest Vari-MaTriX line of Category 6A copper cables with 0.25 inches diameter. These lightweight, small-sized cables offer improved cable management and fill capacity.
  • In October 2017, TE SubCom, a subsidiary of TE Connectivity Ltd., announced a contract in force for JUPITER cable, which is designed to boost high-capacity connectivity between Asia and the U.S.

In the report on the global cable management accessories market, we have discussed individual strategies, followed by company profiles of providers of cable management accessories. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global cable management accessories market.

Cable Management Accessories Market – Scope of the Report

A new study on the global cable management accessories market was published by Transparency Market Research (TMR). It presents detailed information of key market dynamics, including market drivers, trends, and challenges as well as structure of the global cable management accessories market. TMR’s study offers valuable information on the global cable management accessories market in order to illustrate how the market is expected to expand during the forecast period i.e. 2019–2027.

Key indicators of market growth, which include value chain analysis, supply chain analysis, and compounded annual growth rate (CAGR), are elucidated in TMR’s study in a comprehensive manner. This data can help readers interpret the quantitative growth aspects of the global cable management accessories market.

An extensive analysis of business strategies adopted by leading market players is also featured in TMR’s study on the global cable management accessories market. This can help readers understand key factors responsible for the growth of the global cable management accessories market. In this study, readers can also find specific data on avenues for qualitative and quantitative growth of the global cable management accessories market. This data would guide market players in making apt decisions.

Key Questions Answered in TMR’s Study on Global Cable Management Accessories Market

  • What would be the Y-o-Y growth trend of the global cable management accessories market between 2019 and 2027?
  • What is the influence of the changing trend in technologies on the global cable management accessories market?
  • Would North America continue to remain the most profitable regional market for providers of cable management accessories from 2019 to 2027?
  • Which factors would hinder the global cable management accessories market during the forecast period?
  • Which are the leading companies operating in the global cable management accessories market?

Research Methodology

A unique research methodology has been utilized by TMR to conduct a comprehensive research on the global cable management accessories market and arrive at conclusions on the future growth prospects for the market. This research methodology is a combination of primary and secondary research, which helps analysts warrant the accuracy and reliability of the conclusions drawn.

Secondary research sources referred to by analysts during the production of the report on the global cable management accessories market include statistics from company annual reports, SEC filings, company websites, World Bank database, investor presentations, regulatory databases, government publications, and market white papers. Analysts have also interviewed senior managers, product portfolio managers, CEOs, VPs, and market intelligence managers, who have contributed to the production of TMR’s study on the global cable management accessories market as a primary research source.

These primary and secondary sources have provided exclusive information during interviews, which has served as a validation from leading players operating in the global cable management accessories market. Access to an extensive internal repository as well as external proprietary databases has allowed this report to address specific details and questions about the global cable management accessories market with accuracy. The study uses a top-down approach to assess the numbers for each segment and a bottom-up approach to counter-validate them. This has helped in making TMR’s estimates on future prospects for the global cable management accessories market more reliable and accurate.

Segmentation of Global Cable Management Accessories Market

TMR’s study on the global cable management accessories market segments the market based on type, end-use industry, and region. Changing market trends and other crucial market dynamics associated with these segments of the global cable management accessories market have been discussed in detail in the report.

Type

  • Cable Lugs
  • Cable Markers
  • Heat Shrink Tubes

End-use Industry

  • IT & Telecom
  • Manufacturing
  • Energy & Utility
  • Healthcare
  • Logistics & Transportation
  • Oil & Gas
  • Mining
  • Construction
    • Residential
    • Commercial

Region

  • North America
  • Europe
  • Asia Pacific
  • Middle East & Africa
  • South America

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Cable Management Accessories Market

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