Cable Management Accessories Market Driven by the Growing Investment towards energy infrastructure
Global Cable Management Accessories Market 2020, according to MRFR, is poised to expand from USD 1.74 billion in 2017 to USD 2.5 billion by 2023, at a CAGR of 6.53% over the review period.
Market Highlights
Manufacturers in the cable management accessories sector are taking advantage of new opportunities in the aerospace industry, as the demand for weight-reducing materials in the aerospace industry is growing. Manufacturers on the cable management accessories market are thus the production of personalized and precision parts that meet the needs of aerospace engineers. In addition, companies operating in the market for cable management accessories are developing heat shrink closures which improve network capacity.
Therefore, the ever-growing IT & Telecom sector propels the market for closures to heat shrinks. Additionally, tried and tested efforts have led to splice closure technologies that support cable diameters and joint dimensions. Nonetheless, other business environment issues are slowing the growth of the company. For example, finding an acceptable marking solution for steel wires is one of the challenges for end-users in the market environment of cable management accessories.
Competitive Dashboard
The key players profiled in the cable management accessories market research report are Thomas & Betts Corporation (Switzerland), HellermannTyton Group PLC (UK), Legrand S.A. (France), TE Connectivity Corporation (Switzerland), Chatsworth Products, Inc. (US), Cooper Wiring Devices (US), Gustav Klauke GmbH (Germany), Schneider Electric SE (France), Panduit Corporation (US), CableOrganizer.com, LLC. (US).
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Market Segmentation
Market by type of cable handling accessories is divided into cable lug, cable label and heat shrink tube. The segment of cable lug is estimated to hold the largest market share in 2017 while heat shrink tubes are expected to witness the highest CAGR over the forecast period. The market is segmented by end-users into telecommunications, automation and IT, manufacturing, energy, logistics & transport, construction and others. The end-user manufacturing segment is expected to dominate the market over the entire forecast period (2018-2023).
Regional Outlook
It is projected that the global demand for cable management accessories will expand at a significant pace over the 2018-2023 forecast period. The cable management accessories industry regional research is performed for North America, Europe, Asia-Pacific and the rest of the world.
From 2018 to 2023, North America followed by Europe is projected to dominate the demand for cable management accessories, as these regions are competitive and well-established economies. In addition, the presence of the leading multinational corporations in the region and the rapid growth of the logistics and transport sector further drive the market for cable management accessories in those regions.
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TABLE OF CONTENTS:
1. Market Introduction
2. Research Methodology
3. Market Dynamics
4. Executive Summary
5. Market Factor Analysis
6. Cable Management Accessories Market, By Segments
7. Competitive Analysis
Continued…
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