Global Cable Trays Market is valued at approximately USD 4.5 billion in 2021 and is anticipated to grow with a healthy growth rate of more than 4.4% over the forecast period 2022-2029. Cable trays are a safe and feasible solution for supporting requirements of electric power, signal, control, instrumentation, and communication cables. The Cable Trays market is expanding because of factors such as increasing demand for wire bundling solutions and growing demand for cable management solutions in the telecommunication sector.
Cable tray wiring systems are preferred over equivalent conduit wiring systems in terms of safety, dependability, space, and cost. Its prevalence has progressively increased during the last few decades. According to Statista, the worldwide cable assembly market is projected to increase to around USD 220.3 billion by 2021. Furthermore, According to Next Move Strategy Consulting, the global Ethernet cable market was valued at USD 10.47 billion in 2019. By 2030, the market is forecast to have a value of USD 29.28 billion. Another important component driving space is increasing cable management solutions in the telecommunication sector. As per Statista, in 2021, the telecom services market is forecast to increase again, growing by around one per cent compared to 2020. In addition, in 2022, telecommunication services spending is expected to amount to USD 1.46 trillion, a growth of around 0.4 % from the previous year. Also, rising expenditure in the construction industry and increasing IT & telecommunication centers would create a lucrative growth prospectus for the market over the forecast period. However, the high maintenance cost of Cable Trays stifles market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Cable Trays Market study includes Asia Pacific, North America, Europe, Latin America, and Rest of the World. North America dominated the market in terms of revenue, due to rising power distribution in the country during the forecast period. According to Statista, in 2021, the North American electricity transmission and distribution market generated nearly USD 97 billion in revenue, up from USD 94.2 billion in the previous year. This represented roughly 38 per cent of global electricity transmission and distribution revenue. Over the next decade, the region’s market is forecast to grow at a compound annual growth rate of 5.8%, reaching USD 158.4 billion by 2030. Furthermore, Asia Pacific is expected to grow with a highest CAGR during the forecast period, owing to factors such as growing several end-use industries, such as construction and telecommunication in the market space.
Major market player included in this report are:
Schindler Electric Global
MP Husky USA
Marco Cable Management
Recent Developments in the Market:
Ø In September 2022, ABB has invested USD 13 million in its manufacturing facility in Quebec, Canada. It helps to increase production capacity and establish a research & development facility at its global center of excellence for cable tray manufacturing.
Global Cable Trays Market Report Scope:
Historical Data 2019-2020-2021
Base Year for Estimation 2021
Forecast period 2022-2029
Report Coverage Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered Material, Type, End-User, Region
Regional Scope North America; Europe; Asia Pacific; Latin America; Rest of the World
Customization Scope Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
IT & Telecom
Rest of the World