Press release
Global Cable Management Accessories Market Forecasted to Surge at an Impressive CAGR of 7.1% during 2017-2024
Market Research Hub
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As per the analyst’s declarations, the global cable management accessories market is foretold to record a CAGR of 7.1% between 2017 and 2024, driven by various positive factors. To pour more light on this, the market report comprises an elaborate executive summary, which includes a market snapshot that provides information about various segments of the market. The detailed overview of global cable management accessories market, assesses market performance in terms of revenue, followed by analysis of key trends, drivers, and restraints witnessed in the recent past.
Key Highlights
A well-ordered cable management system enables the cable operators and network administrators to manage things in the right way. It has been reported in the study that rising dependence on machines for industrial, commercial, and domestic operations has created wider demand for cable management accessories. Presently, cable management accessories are available in the market such as cable lugs, heat shrink tubes, and cable markers to carry on mechanical functions.
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The research study has found that due to the infrastructural development and rising energy generation in emerging countries are stoking demand for construction equipment and electrical components. This is indirectly heightening the cable management accessories market.
As the report moves ahead, the study provides a holistic perspective on the market’s growth, across diverse geographical regions such as Asia Pacific, North America, Middle East & Africa, Europe, and South America. For a better understanding of the market, the global market for cable management accessories is broadly assessed on the basis of product type and end use. As mentioned earlier, products in the market are cable marker, cable lug, and heat shrink tube. Out of these, cable lug holds prominent share.
In terms of end-use, key segments are manufacturing, IT and telecom, energy and utility, oil and gas, healthcare, mining, logistics and transportation, construction, and others. It has been identified that the manufacturing sector worldwide is predicted to display vast growth opportunities for the cable management accessories market.
Furthermore, the geographical analysis of the report reveals that Asia Pacific and Latin America hold prominence in the cable management accessories market.
Competitive Tracking
Another important segment of the report throws light on the market competitive scenario among different market players. At present, key companies functioning in the global cable management accessories market comprise Legrand SA, Schneider Electric SE, Thomas & Betts Corporation, Hellermann Tyton Group plc, TE Connectivity, and Legrand SA.
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