Global Cable Management Accessories Market Overview
Cable management accessories are extensively used for securing cables in a premise. A study circulated by Market Research Future (MRFR) suggests that the global cable management accessories market is anticipated to register 6.53% CAGR over the evaluation period 2018 to 2023, reflecting a healthy growth trajectory. The study estimates a valuation of USD 2,5 Bn for the market by 2023 up from USD 1.74 Bn in 2017.
The growth of the construction sector is supposed to play a crucial role in the development of the global market. Increasing investments in infrastructural projects is expected to boost revenue generation of the cable management accessories market over the next couple of years. In addition, efforts directed towards the revamp of the renovation and renewal projects are also anticipated to expedite growth rate of the market in the years to come.
The product is extensively used in the manufacturing and power & utility industries to secure the premise during harsh weather conditions. The expansion of the industrial sector, in conjunction with the rising applications across industries, is anticipated to lead the growth of the cable management accessories market in the forthcoming years.
The upgradation of cellular networks is likely to unleash growth potential for the market players across the forecast period. Developing nations resonate immense growth opportunities for the participants of the cable management accessories market. Increasing investments in the energy sector in these regions is poised to revolutionize the growth pattern of the global market over the next few years.
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Competitive Dashboard:
CableOrganizer.com, LLC. (US), Anixter Inc. (US), Weidmüller Interface GmbH & Co. KG (Germany), Partex Marking Systems USA LLC. (US), Cembre S.p.A. (Italy), Schneider Electric SE (France), Legrand S.A. (France), Thomas & Betts Corporation (Switzerland), TE Connectivity Corporation (Switzerland), HellermannTyton Group PLC (UK), Chatsworth Products, Inc. (US), Cooper Wiring Devices (US), Panduit Corporation (US), and Gustav Klauke GmbH (Germany) are few of the prominent participants of the global cable management accessories market. These players are anticipated to contribute a major fraction of the revenue earned by the market over the next couple of years. Increasing investments in research & development is poised to dictate the robust competition prevailing in the global market place. The presence of strong developmental opportunities is likely to attract new entrants to the cable management accessories market in the years to come. Some of the growth approaches applied by these players to gain an edge over others are strategic partenerships, acquisitions, collaborations, mergers, agreements, product development, regional expansion, etc.
Market Segmentation:
The segments of the global cable management accessories market, on the basis of type, are cable marker, cable lug, and heat shrink tube.
On the basis of end-users, the cable management accessories market has been segmented into telecommunication, construction, manufacturing, utilities, automation and IT, logistics & transportation, and others.
Regional Analysis:
The geographical analysis of the global cable management accessories market has been covered based on key regions which are further narrowed down to country-level basis. The key regions covered in the study are – North America, Europe, Asia Pacific (APAC), and the Rest of the World (RoW). North America is expected to hold the leading position in the global market through the assessment period. The rapidly developing industrial sector of the region is supposed to drive the regional market’s growth over the next couple of years. In addition, the investments in revamping the construction industry of the region are further poised to boost growth pace of the cable management accessories market in the region in the years to come. Europe is likely to trail the market in North America in terms of revenue and is expected to witness substantial growth in the nearby future.
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