Cable Management Market: Business Opportunities, Current Trends, Growth by Top Companies, 2027

The cable Management Market Analysis Report by Type (Cable Trays, Cable Raceway, Cable Conduits, Cable Connectors &Glands, Cable Carriers, cable Lugs, Cable Junction Boxes, and Others), and End User (IT & Telecommunication, Commercial Construction, Energy, Manufacturing and Automation, Marine, Mining, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2027.

Global cable management industry size was valued at $18.31 billion in 2019, and is projected to reach $35.02 billion by 2027, registering a CAGR of 7.9% from 2020 to 2027.

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The global cable management market is in its growing phase, having presence in almost all the geographic regions. Technological advancements and rise in economies boost the prospects in the cable management market. In the prevailing business scenario, the demand for innovative and quality cable management products is witnessing significant growth amongst the various end users. Adoption of technology and rise in living standards in the BRIC countries has shown increased use of cable management solutions. On the other hand, intense competition among the regional market players and fluctuations in raw material prices hinder the market pace.

An increase in demand due to technological advancements, commercialization of renewable energy, and widespread of various industrial verticals operate the cable management market growth in this segment. The risk of hindering the cable management market growth can be done through a lack of standardization for price. Lucrative opportunities being offered because of the surge in investment.

In the current business scenario, North America leads the global cable management market, while LAMEA is the fastest growing market on account of increased adoption of cable management products. Asia-Pacific is expected to experience growth due to heavy investments in various sectors including IT & telecommunication, automation & manufacturing, healthcare, infrastructure, transportation, and others.

Telecom equipment is notoriously sensitive, especially the cables needed to maintain networks and connections properly. Owing to that reason, any equipment utilized to manage or organize those cables is required to be able to offer control without the risk of harm. Cables carry the data required to light cities, make cloud computing possible, and allow billions of devices to function. Hence, cable management is crucial to effectively control fiber rollouts, which are required to help the needs of business and residential customers, and the rollout of advanced technologies, such as 5G.

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On the basis of cable management market analysis, North America is one of the leading regions in the aerospace and space programs including NASA and USSR. Spiral wrap, lacing tapes, heat shrink tubes, cable tie wraps are few of the important products used in the aerospace industry. In submarine, High Voltage Direct Current (HVDC), Heat, Ventilation and Air conditioning (HVDC), Medium Voltage (MV) and other cable systems, provide efficient power transfer among networks, with a large area coverage. The lifestyle and standards of living is also advanced in North America leading to surge in demand for a proper cable management in the residential & commercial sectors as well as corporate offices enabling safety and low maintenance. The minimal GDP growth rate of the region hinders fast adoption of the cable management products.

The report offers a detailed segmentation of the global cable management market based on type, end user, and region.

Based on type, the cable conduits segment contributed to the largest share in 2019, accounting for more than one-fourth of the total share, and is estimated to maintain its dominant position during the forecast period. However, the cable lugs segment is expected to register the highest CAGR of 13.3% from 2020 to 2027.

Based on end user, the IT and telecommunication segment accounted for the largest share in 2019, holding one-fifth of the total share, and is expected to maintain the largest share throughout the forecast period. In addition, the same segment is estimated to portray the highest CAGR of 10.0% during the forecast period. Moreover, the energy segment is anticipated to register a CAGR of 9.0% during the forecast period.

Based on region, North America contributed the highest share, accounting for nearly one-third of the total market share in 2019, and will maintain its dominance throughout the forecast period. However, Asia-Pacific is expected to grow at the highest CAGR of 9.5% from 2020 to 2027.

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The key players profiled in the cable management market include Eaton, Chatsworth Products, ABB Group, Schneider Electric, Legrand, Atkore International, Leviton Manufacturing Co., Inc., Panduit, Nexans, Prysmian S.P., and others. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.

Key Findings Of The Study
• By type, the cable conduits segment was the highest contributor to the market, with $5,203.0 million in 2019
• By end user, the IT and telecommunication segment was the highest contributor to the market, with $3,609.3 million in 2019.
• By region, North America was the highest revenue contributor, accounting for $5,444.2 million in 2019.

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