Published Date : Jun 21, 2016
The market for cable management systems is witnessing strong growth across the world. The rapid rise in the construction industry in the BRICS countries and major infrastructural developments in the Middle East and North America are driving significant growth in the global cable management systems market.
Apart from this, the increasing investments in infrastructure, the escalating demand for energy, upgradation of existing networks in developed economies, and the need for extended bandwidth are also fueling the demand for cable management products, globally. Asia Pacific is likely to lead the worldwide market in the coming years, owing to the high rate of urbanization in this region.
Cable Trays to Remain Dominant Product Segment
More than 65% of the global market for cable management system is product based. In 2015, the cable tray segment enjoyed the highest demand and accounted for approximately 14% of the overall revenue generated in this market.
This segment is expected to remain dominant in the coming years. Unique features of cable trays such as reliability, adaptability, ease of maintenance, compact design, and high weight-holding capacity are likely to fuel their demand in the coming years.
Construction Industry to Maintain its Position as Leading End User
The construction, oil and gas, healthcare, manufacturing, IT and telecom, and various other industries are the prime end users of cable management systems across the world. The construction industry emerged as the dominant consumer of these systems in 2015. The segment is likely to remain the leading end user in the coming years. In this industry, the residential sector is projected to exhibit the highest demand for cable management systems over the next few years.
Some of the leading participants in the cable management systems market are Enduro Composites Inc., Chatsworth Products Inc., Cooper Wiring Devices, Thomas & Betts Corp., Leviton Manufacturing Co. Inc., HellermannTyton Group Plc, Panduit Corp., Schneider Electric SE, Allied Tube & Conduit, and Legrand SA.