Global Cable Management Accessories Market Overview
Cable management accessories market refer to devices used for securing cables for electric services in a building. The global cable management accessories market is likely to exhibit a robust CAGR of 6.53% during the forecast period. The primary factor attributing to growth is the rising investment by many countries in the renewal and upgradation of the energy infrastructure across the globe. Also, double-digit growth witnessed in the infrastructure sector in many developing nations and stringent regulations relating to cable management in a premise are likely to promote demand for cable management accessories.
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Key Players
MRFR has profiled some of the significant players in the cable management accessories market including 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), Gustav Klauke GmbH (Germany), CableOrganizer.com, LLC. (US), Anixter Inc. (US), Weidmüller Interface GmbH & Co. KG (Germany), Partex Marking Systems USA LLC. (US), and Cembre S.p.A. (Italy).
Market Segmentation
The global cable management accessories market is segmented on the basis of type, end-user, and region. The market is segmented into cable lug, heat shrink tube, and cable marker based on type. The cable lug segment is anticipated to dominate the cable management accessories market whereas the heat shrink tubes segment is projected to witness the fastest market growth during the forecast period.
Based on end-users, the cable management accessories market is segmented into telecommunication, automation & IT, utilities, logistics & transportation, manufacturing, and construction. The manufacturing segment is expected to spearhead the global cable management accessories throughout the forecast period of 2018-2023. Stringent government regulations relating to safety and security of the cabling done in the manufacturing premises are likely to drive prominent demand to the cable management accessories market. Whereas, the utilities segment is expected to register the fastest CAGR during the forecast period, owing to a rapidly rising requirement for cable management across power distribution/ generation plants and substations.
Detailed Regional Analysis
The global Cable Management Accessories Market is estimated to garner a revenue of USD 2.5 billion by the end of 2023, from a revenue of USD 1.74 billion in 2017. The regional analysis for the cable management accessories market is done for North America, Europe, Asia Pacific, and Rest of the World, by MRFR. North America is assessed to be the frontrunner in the global cable management accessories market, followed by Europe. These regions are witnessing lucrative growth in the cable management accessories market as they are sustainable and well-established economies. Moreover, a large number of prominent players from the cable management accessories market are present in these regions, pushing the market to grow exponentially.
The APAC region is likely to record a stellar CAGR during the forecast period. Countries like China and India are majorly contributing to market growth in the region, owing to a proliferation of demand for cable management accessories, growth in the construction sector, and rapid urbanization in the countries.
Competitive Analysis
The cable management accessories market is likely to witness a rising demand from the manufacturing sector across the world. The significant market players are projected to opt for business expansion and product enhancement strategies to strengthen their market position. For example, Legrand India, in November 2018 opened their first retail outlet in Kochi to provide cable management solutions for residential, commercial, hospitality, as well as, industrial segments in India.
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Industry Update
April 2019: Chatsworth Products (CPI) announced its new partnership with Pemsa. Chatsworth Products (CPI) has developed new cable management accessories to integrate Pemsa Rejiband Wire Mesh Tray and CPI Rack and Cabinet Systems. Also, under the agreement, the Pemsa Regiband Wire Mesh Tray System is now available in the United States and Canada exclusively through Chatsworth Products (CPI). Chatsworth Products is a leading provider of infrastructure and cable management solutions for data centers and industrial environments.
Intended Audience
- Cable manufacturing companies
- Consulting companies in the power and oil & gas sector
- Engineering, procurement, and construction contractors
- Government and research organizations
- Energy and environmental associations
- Water Industry Forum
- State- or government-owned corporations
- Power distribution companies
- Insulation raw material suppliers
- Wire and cable management manufacturing companies
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