Published: Apr, 2018
The global cable management accessories market was valued at US$ 1,362.2 Mn in 2017 and is anticipated to register a stable CAGR of 7.1% during the forecast period, according to a new report published by Transparency Market Research (TMR) titled ‘Cable Management Accessories Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2018–2026.’ Continued investments in infrastructure, rising global energy demand, major infrastructure development projects in MENA, recovering construction sector in developed countries, renewal and upgrade of existing networks in mature economies, and stringent regulations regarding cable management have driven the global cable management accessories market. The market in North America is expanding at the maximum CAGR of 7.6%, owing to technological innovations and presence of a large number of market players in the region.
Increasing use of cable lugs and markers to drive the cable management accessories market
Increasing penetration of cable lugs and markers is ultimately resulting in high demand for cable management accessories worldwide. Use of cable lugs is increasing rapidly, as cable lugs enable safe electric connection between the wire and the terminal of an equipment. Several regional standards and regulations have been imposed on cable lugs in order to ensure safe and long-lasting connections. Additionally, cable lugs have distinct applications in manufacturing plants. Cable markers are used in industrial facilities operational under harsh environmental conditions such as extreme temperatures and abrasion. This boosts the demand for cable markers across the globe. Cable lugs and markers have witnessed high adoption, due to continuous installation of a large number of machines and assembly units followed by extensive channels of wiring systems. This is expected to continue to augment the demand for cable management accessories during the forecast period.
Rise in demand for cable management accessories in manufacturing and energy & utility industries to drive market
Based on industry vertical, the cable management accessories market has been segmented into IT & telecom, manufacturing, energy & utility, health care, logistics & transportation, mining, oil & gas, and construction. Manufacturing is anticipated to be the rapidly expanding industry vertical segment during the forecast period, followed by the energy & utility segment. The manufacturing segment is expected to dominate the global market for cable management accessories, expanding at the maximum CAGR of 8.0% throughout the forecast period. This is owing to surging investments in manufacturing plants across the world. The energy & utility segment is anticipated to expand at a significant CAGR during the forecast period, as cable management accessories are increasingly being used across power distribution/generation plants, substations, and in power distribution/transmission equipment and related equipment.
Furthermore, rising adoption of smart homes and increasing requirement for non-residential infrastructure and residential and government infrastructure are propelling the demand for cable management accessories in the construction segment.
Growing adoption of due to technological advancements in cellular networks in the U.S., China, India, Israel, and South Africa to create lucrative opportunities
Geographically, the global cable management accessories market has been divided into five major geographical regions. These include North America, Europe, Asia Pacific, South America, and Middle East & Africa. In 2017, North America was the leading region of the global market, followed by Europe. Demand for cable management accessories is the maximum in North America, due to growth of the IT & telecom industry in the region. The large number of wire and cable shipments to electric utilities in the region is boosting the cable management accessories market in North America. Furthermore, the U.S. Government has commissioned several studies to explore methods for upgrading the existing infrastructure. The U.S. held a leading share of the North America market in 2017. The market in the country is estimated to expand at the maximum CAGR during the forecast period. The market in Europe is anticipated to expand at a significant CAGR during the forecast period, due to advancements in the field of logistics & transportation across the region. The cable management accessories market in Asia Pacific is expected to expand at the maximum CAGR of 9.1% during the forecast period. Rapid growth of the IT industry in Asia Pacific has also had a significant positive impact on the demand for mechanical cable accessories such as heat shrunk tubes, cable lugs, and cable markers in the region. Apart from this, rapid pace of urbanization in developing economies of Asia Pacific leading to increasing construction of residential and commercial buildings and new power transmission lines is boosting the demand for cable management accessories in the region. Rapid industrialization in developing countries of the region drives the demand for cable management accessories for use in industrial machinery in Asia Pacific.
Schneider Electric SE, Legrand S.A., Thomas & Betts Corporation, and Cooper Wiring Devices likely to continue to lead the global cable management accessories market
The company profiling of key players operating in the global cable management accessories market includes company overview, major business strategies adopted, SWOT analysis, and market revenues for years from 2015 to 2017. Key players profiled in the report on the global cable management accessories market are Schneider Electric SE, Legrand S.A., Thomas & Betts Corporation (ABB Ltd), TE Connectivity Corporation, HellermannTyton Group PLC, Chatsworth Products, Inc., Cooper Wiring Devices (Eaton Corporation), Panduit and Corporation, Gustav Klauke GmbH, CableOrganizer.com, LLC., Anixter Inc., Weidmüller Interface GmbH & Co. KG, Partex Marking Systems USA LLC., and Cembre S.p.A. Several players are introducing technologically advanced products and entering into partnerships with other players to meet the continuously surging demand for advanced infrastructure accessories.
The global cable management accessories market has been segmented as follows:
Global Cable Management Accessories Market, by Type
- Cable Lug
- Cable Marker
- Heat Shrink Tube
Global Cable Management Accessories Market, by Industry Vertical
- IT & Telecom
- Energy & Utility
- Health Care
- Logistics & Transportation
- Oil & Gas
Global Cable Management Accessories Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East &Africa
- South America
- Rest of South America
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