A recent report published by Infinium Global Research on the cable management system market provides an in-depth analysis of segments and sub-segments in the global as well as regional cable management system market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional cable management system market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast, and dollar values of the global cable management system market. According to the report, the global cable management system market was worth over USD 20 billion in 2021 and is expected to reach up to USD 32 billion by 2027, growing with a CAGR of 7.7% over the forecast period of 2021-2027.
Proper cable management is integral to the performance and effectiveness of the network. It provides the critical support, reliability, and flexibility needed to sustain and grow network capabilities. Complex modern electrical networks need the provision of integrated systems to support and protect the many cables involved in a building. Good cable management systems should allow for future possible changes in requirements after installation, especially those serving commercial buildings bearing in mind that the average lifespan of much electronic equipment is estimated to be between four and five years. The whole cable management system, (CMS) installation has to be designed as an integrated arrangement capable of interconnecting distribution, monitoring, and control equipment in a building.
However, the sudden outbreak of the Covid-19 pandemic resulted in an ultimate halt of productions, businesses, commercial offices, factories, etc., and the closing down of abundant activities out of fear and for saving lives. Therefore, the Steel Cable Tray industry also witnessed a huge downfall in terms of production, supply chain, shortage of laborers due to restrictions in the movement. Additionally, restrictions in traveling for non-essential supply led to a shortage of raw materials and therefore minimizing the production of the product eventually causing the downfall of the market in many geographical regions Electricity and Data Management have become one of the most critical components of any business in the modern world.
A number of enterprises and institutions are increasingly becoming dependent on the installation of high-performance cabling. This further provides a growing demand for advanced cable management systems for data and communication applications. Hence, the application of communication technology is anticipated to increase the demand for cable management systems in the coming years. Furthermore, the rapid growth in the construction sector and the high acceptance of cable trays as an alternative for cable management systems are driving the growth of the market. With the promotion of the smart city and the development of smart distribution networks, intelligent management of the vast, expensive power cable network is attached with growing significance. However, fluctuations in raw material prices are affecting the growth of the market. Moreover, the Internet of Things, Mobile Internet, Big Data, and other new information technologies are used to improve condition monitoring and to evaluate the remaining service life of power cables, in order to realize an orderly and optimal replacement of the power cables. This will provide a significant growth opportunity for the market.
The Asia Pacific dominates the cable management system market. The rapid growth of the construction sector and high acceptance of cable trays as an alternative for cable management systems driving the market growth in developing countries like China, India, and others. Furthermore, increasing renewable power capacity in emerging countries has increased the need for interconnecting their transmission systems in order to balance generation. This provides a growing demand for the cable management system market in the Asia Pacific region.
The report on the global cable management system market covers segments such as type, and end user. On the basis of type, the sub-markets include cable trays, cable raceways, cable fittings, cable conduits, and others. On the basis of end user, the sub-markets include it & telecom, manufacturing, energy & utilities, healthcare, oil & gas, public infrastructure, commercial, and residential.
The report provides profiles of the companies in the market such as TE Connectivity Ltd, Thomas & Betts Corp, HellermannTyton Group PLC, Niedax Group, Marco Cable Management, Schneider Electric SE, Vantrunk Int, Allied Tube & Conduit, Panduit Corp, and ., Chatsworth Products Inc.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the cable management system market. Moreover, the study highlights current market trends and provides forecast from 2021-2027. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.