Hyderabad, Aug. 22, 2023 (GLOBE NEWSWIRE) -- According to a new market research report titled “Cable Management Market Report (2023-2028),” the market is estimated at USD 14.74 billion in 2023. It is expected to register a CAGR of 10.11% during the forecast period.
Cable management refers to the management of electrical or optical cables in a cabinet. Products such as cable trays, cable ladders, and cable baskets help support a cable through cabling routes. Factors driving the demand for cable management products include the explosive growth of the information technology sector and the increased reliance of institutions and businesses on high-performance data and communication cabling. Manufacturers are also developing newer products and system improvements.
Report Summary:
| Report Attribute | Details |
| Market Size (2023) | USD 14.74 billion |
| Market Size (2028) | USD 23.86 billion |
| CAGR (2023-2028) | 10.11% |
| Study Period | 2018-2028 |
| Forecast Units | Value (USD billion) |
| Fastest Growing Market | Europe |
| Largest Market | North America |
| Report Scope | Market Dynamics, Revenue Forecast and Segmentation, Competitive Landscape, and Recent Developments, Market Growth, Future Opportunities, and Trends |
| Key Market Drivers | New product launches and system improvements. |
| The explosive growth of the information technology sector. |
Who are the Top Companies in the Cable Management Market?
The market is competitive and fragmented, with several players operating in the space. The noteworthy players in the global cable management market are:
- ABB Ltd
- Schneider Electric SE
- Cooper Industries (Eaton)
- Chatsworth Products Inc.
- HellermannTyton
- Panduit Corporation
- Prsymian SP
- Legrand SA
- Leviton Manufacturing Co. Inc.
- Atkore International Holdings
- Enduro Composites SP
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Key Highlights from the Cable Management Market Report:
Cable Trays Offers Potential Growth
- A cable tray is designed to support the requirements of electric power, signal, control, instrumentation, and communication cables. They are fabricated in several styles, including wire mesh, ladder, ventilated trough, channel, and solid bottom in various sizes, to provide versatility among cable support systems.
- Cable trays are devised and installed to conform to NEMA standards, such as the NEMA VE-1 for design and NEMA VE-2 for installation. The National Electric Code dictates the requirements and limitations for cable loading. The NEMA Cable Tray Institute (CTI) was founded in 1991 to support the cable tray industry.
Europe Expected to Hold Significant Share
- With the escalated deployment of cables across multiple industries, the demand for cable management solutions is also rising. The intensified demand for networks and facilities with the massive volume of cables has grown drastically in the region.
- Multiple developed nations in Europe, such as Germany and France, have been spending substantially on infrastructure development. With these mounted investments in various sectors, enterprises are also focusing on renovating and upgrading their existing infrastructure to build better support for operations, resulting in growth in the cable management market.
What are the Latest Developments in the Cable Management Market?
- In May 2022, Chatsworth Products Inc. announced the Product Launcher Manufacturing of its ZetaFrame Cabinet in the United Kingdom. Power distribution, electronic access control, and cable management accessories are accessible for factory-installed pre-integration in CPI's ZetaFrame Cabinet, ensuring that ZetaFrame arrives at a customer's facility prepared to be populated and deployed.
- In May 2022, Panduit Corporation released a new line of Single Pair Ethernet cables to support building automation and industrial automation technologies.
Mordor Intelligence has Segmented the Cable Management Market Based on Product, End-user Industry, and Geography:
- By Product (Market Size and Forecast based on Value (USD billion), 2018-2028)
- Cable Trays
- Cable Raceways
- Cable Conduits
- Cable Connectors and Glands
- Cable Carriers
- Cable Lugs
- Junction/Distribution Boxes
- Other Product Types (Ties, Covers, Fasteners, Clips)
- By End-user Industry (Market Size and Forecast based on Value (USD billion), 2018-2028)
- IT and Telecommunication
- Construction
- Energy and Utility
- Manufacturing
- Commercial
- Other End-user Industries
- By Geography (Market Size and Forecast based on Value (USD billion), 2018-2028)
- North America
- Europe
- Asia Pacific
- Middle East and Africa
In a nutshell, the Mordor Intelligence market research report is a must-read for start-ups, industry players, investors, researchers, consultants, business strategists, and all those who are looking to understand this industry. Get a glance at the Cable Management Market Report (2023-2028).
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About Mordor Intelligence:
Mordor Intelligence is a market intelligence and advisory firm. At Mordor Intelligence, we believe in predicting butterfly effects that have the potential to change or significantly impact market dynamics.
Our market research reports are comprehensive and provide exclusive data, facts and figures, trends, and the industry’s competitive landscape.
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