Expansion of Information Technology Sector Prompts Cable Management Systems Manufacturers to Intensify R&D Activities
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.
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.
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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.
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.
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The
presence of a high-capacity network necessitates cable management and
protection. The selection of an appropriate cable management system for
routing is a major step in enhancing the network performance in the long
term. The cable management system should offer the maximum protection
and routing capabilities while also enabling fast deployment in current
and upcoming network infrastructures. Other factors, such as ease of
reengineering, expansion capabilities, and flexibility for future
installations, play an acute role in ensuring network profitability.
Today, companies offer various systems to protect and route cabling from
entrance to termination points. A vast range of cable-management
products has been introduced in recent years, providing the user with a
greater choice of designs, materials, and installation methods. North
America dominates the overall market for cable management systems
globally, owing to surging industrialization in this region. Within the
market for construction applications in North America, the commercial
segment has witnessed large investments toward the construction of
commercial structures such as hotels and offices.
This
research report provides in-depth analysis of the global cable
management systems market on the basis of product, material, and end-use
industry. The cable management systems market based on product includes
cable tray, cable ladder, raceway, cable trunking, cable conduit, cable
connector, cable gland, cable chain & reel, cable lug & tools,
cable duct, and others (cable tags and markers). On the basis of
material, the market is segmented into metallic and non-metallic. The
cable management system end-use industry segments are IT & telecom,
manufacturing, energy & utility, health care, logistics &
transportation, mining, oil & gas, and construction.
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