Global Cable Management Accessories Market: Snapshot
The global cable management accessories market is gaining on the back of increasing dependence on machines for industrial, commercial, and domestic operations. These machines heavily rely on cable management accessories such as cable lugs, heat shrink tubes, and cable markers to carry on mechanical functions.
Factors such as need for upgrade of existing power transmission infrastructure in developed countries along with infrastructural development and rising energy generation in developing countries are stoking demand for construction equipment and electrical components. This is indirectly boosting the cable management accessories market. Considering a number of positive factors, the global cable management accessories market is predicted to clock a CAGR of 7.1% between 2017 and 2024.
Growth of Manufacturing Sector to Fuel Cable Management Accessories Market
The global cable management accessories market has been segmented in terms of product, end-use, and geography. By product, cable marker, cable lug, and heat shrink tube are the segments into which the cable management accessories market has been divided. Cable lug, among them held the dominant close to 53% of the overall market in 2015.
In terms of end-use, key segments into which the cable management accessories market is divided are IT and telecom, energy and utility, manufacturing, oil and gas, healthcare, mining, logistics and transportation, construction, and others. The manufacturing segment, among all, holds dominance in this market. Stringent regulations that oversee the safety and security aspects of cabled networks, right from installation till the end of their usable life mandate the use of effective cable management accessories for machinery in the manufacturing sector.
In the years ahead too, the thriving manufacturing sector worldwide is predicted to display vast growth opportunities for the cable management accessories market. The manufacturing sector displays the leading demand for consumer lugs in the overall market. Owing to these factors, the manufacturing sector accounts for the leading revenue contribution to the cable management accessories market; the manufacturing sector is predicted to command dominance amongst other end-use segments.
Rapid Industrialization Stokes Demand for Cable Management Accessories in Asia Pacific
Geography-wise, the cable management accessories market is classified into North America, Asia Pacific, Latin America, Asia Pacific, and the Middle East & Africa. Asia Pacific and Latin America hold prominence in the cable management accessories market. Rapid industrialization in developing nations of these regions display huge demand for cable management accessories for industrial machinery. In addition, rapid growth of the IT industry in Asia Pacific has also had a sizeable impact on the demand for mechanical cable accessories such as heat shrunk tubes, cable lugs, and cable markers.
Apart from this, rapid pace of urbanization in emerging economies of Asia Pacific leading increasing construction of residential and commercial buildings and new power transmission lines is serving to boost the demand for cable management accessories.
Increasing initiatives for infrastructural development in the Middle East & Africa have favored the growth of several ancillary industries such as cable management accessories. In the coming years, construction projects in countries such as Qatar, Saudi Arabia, and the UAE are likely to present monumental demand for mechanical and electrical components.
Key companies operating in the global cable management accessories market include Schneider Electric SE, Legrand SA, Hellermann Tyton Group plc, Thomas & Betts Corporation, TE Connectivity, and Legrand SA.
Global Cable Management Accessories Market: Overview
Transparency Market Research’s publication on the global cable management accessories market provides valuable insights on the growth trajectory of the said market for the 2017-2024 forecast timeframe. For the study, 2016 is considered as the base year whereas 2015 values have been provided for historical reference.
The report looks into each and every aspect that could play a key role to determine the growth of cable management accessories market over the aforementioned forecast period. It also examines vital market indicators such as demand drivers and restraints that could influence the growth of this market during the said period.
Global Cable Management Accessories Market: Report Highlights
The research report provides a comprehensive growth analysis of the cable management accessories market based on product, end-use, and geography. Analyzing each and every segment, revenue estimates for the overall market are presented in US$ Mn and volume estimates in Kilo tons. It also includes market share and revenue estimations of each segment under various category over the 2017-2024 forecast period.
The report also includes competitive profiling of key players engaged in the manufacture of cable management accessories. This includes insights into their winning strategies along with their recent developments and market positioning over a timescale.
The report includes an elaborate executive summary detailing industry statutes and industry policies that manufacturers of cable management accessories need to adhere to. A snapshot of terms and terminologies and conventions relevant to mechanical and electrical equipment sector is also included herein.
Global Cable Management Accessories Market: Research Methodology
The report is a result of combination of primary and secondary research. In-depth secondary research helped gauge overall market size, top industry players, top products, industry associations, etc. Primary research phase involved formulation of a detailed discussion guide for interactions with industry experts. Analysts interacted with distributors, retailers, and industry players via e-mails, telephonic communication, and face-to-face meetings.
Secondary research phase involved reaching out to company websites, government websites, investor presentations, annual reports, financial reports, broker reports, internal and external proprietary databases, and SEC filings. Some other sources tapped into in the secondary research phase include science journals, trade publications, industry publications, government documents, press releases, technical literature, procedure registries, and webcasts specific to companies operating in this market.
Following primary and secondary research phase, data was validated employing triangulation method along with inputs from in-house experts. The data was analyzed using MS-Excel to find quantitative and qualitative insights about the industry. Following this, industry insights and information were collated in PDF format.
Global Cable Management Accessories Market: Competitive Dashboard
The report includes a detailed competitive landscape of the cable management accessories market. It identifies key players operating in the cable management accessories market along with a detailed competitive profile of each of them. Business outlook, product portfolio, technological advancements, recent developments, and financials are the parameters based on which each player in the cable management accessories market is profiled in this report. Detailed insights into indices of strengths, weakness, threat, and opportunities of each player in the cable management accessories market is a feature of this report.