September 23, 2019

Cable Management Accessories Market Synopsis and Highlights, Major Companies Analysis and Forecast to 2023

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.

Cable Management Accessories Market devices that are used to secure cables for electric services are increasingly gaining prominence in the market. As a result, the global cable management accessories market is continually growing. The burgeoning end-use industries such as telecommunication, automation & it, manufacturing, utilities, logistics & transportation, and construction, among others, predominantly drive the growth of the market.

Moreover, the ever-increasing demand for higher data rates, more bandwidth, and higher densities define the growing landscape of the market. Additionally, substantial investments put in by some of the major manufacturers in the development of highly configurable cable management solutions with fiber optic cable support that can enable optimal airflow and cable slack management practices, escalate the market on the global platform.

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Major Players:

Key players leading the global cable management accessories market include Legrand S.A. (France), Schneider Electric SE (France), Thomas & Betts Corporation (Switzerland), Hellerman Tyton Group PLC (UK), TE Connectivity Corporation (Switzerland), Chatsworth Products, Inc. (US), Panduit Corporation (US), Cooper Wiring Devices (US), Gustav Klauke GmbH (Germany), and CableOrganizer.com, LLC. (US), among others.

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.

Global Cable Management Accessories Market – Regional Analysis

The North American region has been consistently dominating the global cable management accessories market. The region is expected to continue with its leadership throughout the forecast period, witnessing the highest sales. Factors such as the growing construction projects and infrastructure development projects are contributing to the growth of the regional market, hugely.

Additionally, the growing electronics sector alongside the electrical market drives the demand in the cable management accessories market in the region. Moreover, key industries such as telecommunication, automation & it, manufacturing, utilities, and logistics & transportation drive the regional market.

The cable management accessories market in the European region accounts for the second-largest share, globally. The sustainable and well-established economy is key driving force behind the growth of the regional market. Furthermore, the presence of some of the leading multinational manufacturers in the region alongside the rapid growth in the logistics & transportation sector fosters the cable management accessories demand in the region.

The APAC cable management accessories market is emerging as a promising market, globally. Factors such as the demand for cable management accessories, led by the rapid urbanization and growth in the construction sector, especially in the rapidly developing countries such as China and India are supporting the growth of the regional market.

Furthermore, the burgeoning end-user industries such as telecommunication, automation & it, manufacturing, utilities, and logistics & transportation drive the growth in the APAC market, witnessing increased requirement of the wiring harness and other electrical components.

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