Cable Tray Market
Cable Tray Market Forecasts to 2030 - Global Analysis By Type (Ladder, Solid Bottom and Other Types), Finishing (Hot-dip Galvanized, Pre-galvanized and Other Finishings), Material, End User and By Geography
|
Years Covered |
2021-2030 |
|
Estimated Year Value (2023) |
US $4.41 BN |
|
Projected Year Value (2030) |
US $6.97 BN |
|
CAGR (2023 - 2030) |
6.76% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
North America |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Cable Tray Market is accounted for $4.41 billion in 2023 and is expected to reach $6.97 billion by 2030 growing at a CAGR of 6.76% during the forecast period. A cable tray is structural systems designed to support and protect electrical cables and wires in various industrial and commercial settings. Typically made of metal or fiberglass, cable trays provide a secure pathway for organizing and routing cables, preventing them from becoming tangled or damaged. These trays are installed overhead or under the floor, offering easy access for maintenance and modifications. They come in various types, such as ladder, solid-bottom, or wire mesh, to accommodate different cable management needs. Cable trays are widely used in buildings, data centres, and industrial facilities to ensure the efficient and organized distribution of electrical wiring.
According to the International Trade Administration and the U.S. Department of Commerce, China’s 14th Five-Year Plan focused on new infrastructure developments in urbanization, energy, transportation, and water systems. China is expected to invest $1.49 trillion in new infrastructure during the 14th Five-Year Plan period (2021-2025).
Market Dynamics:
Driver:
Growing construction activities
As infrastructure development and urbanization continue to surge, there is an increasing demand for efficient cable management systems. Cable trays provide a cost-effective and organized solution for routing and supporting electrical wiring in buildings and industrial facilities. The expanding construction sector necessitates reliable and scalable cable management solutions, propelling the demand for cable trays. This trend is particularly prominent in emerging economies, where rapid urban development and industrialization are driving the need for robust electrical infrastructure.
Restraint:
Installation challenges
The installation challenges faced by the cable tray market primarily revolve around complex architectural designs and constrained spaces within industrial and commercial environments. Routing cable trays efficiently becomes a hurdle when dealing with intricate structures, leading to increased installation time and labor costs. Adapting to diverse building materials and accommodating various cable types further complicates the installation process. Compliance with stringent safety regulations and standards poses an additional challenge, demanding meticulous planning and execution.
Opportunity:
Data centres and IT infrastructure
The growing demand for data centers and expanding IT infrastructure presents a significant opportunity for the cable tray market. Cable trays serve as essential components in these environments, facilitating organized and efficient cable management. As data centers continue to proliferate, the need for robust and scalable cable management solutions becomes paramount. Cable trays provide a versatile and cost-effective solution, accommodating the intricate network of cables and supporting seamless data flow. Additionally, the escalating investment in IT infrastructure emphasizes the market potential for cable trays, as they play a crucial role.
Threat:
Project delays
Project delays pose a significant threat to the cable tray market as they can disrupt the planned installation schedules and timelines. Delays may result from various factors, such as regulatory approvals, design modifications, or unforeseen construction challenges. These setbacks can lead to increased project costs, strained contractor relationships, and a negative impact on overall project efficiency. Timely execution is vital to meet project deadlines, and any deviation may hamper the market's growth by affecting customer satisfaction and eroding trust in project delivery capabilities.
Covid-19 Impact:
The COVID-19 pandemic significantly impacted the cable tray market as construction and industrial activities slowed down globally. Supply chain disruptions and labor shortages led to project delays, affecting the demand for cable trays. Reduced investments in infrastructure projects during the pandemic further restrained market growth. The shift towards remote work also influenced demand, with an increased focus on data centres and IT infrastructure. Despite challenges, the market is expected to rebound as economic activities recover, driving the need for efficient cable management solutions in renewed construction and industrial projects.
The wire mesh segment is expected to be the largest during the forecast period
The wire mesh segment is experiencing significant growth in the cable tray market due to its versatile and durable characteristics. Wire mesh cable trays offer excellent ventilation, reducing heat buildup and ensuring optimal cable performance. Their lightweight design and easy installation make them cost-effective and time-efficient for cable management. The open-grid structure allows for efficient cable routing and easy maintenance. Furthermore, as industries prioritize safety and sustainability, wire mesh cable trays are gaining popularity for their fire-resistant properties and recyclable materials.
The it and telecom segment is expected to have the highest CAGR during the forecast period
The telecom segment is a key driver of growth in the cable tray market, as it demands efficient and organized cable management solutions. Cable trays provide a structured system for organizing and supporting telecommunication cables, ensuring proper routing and minimizing signal interference. The versatility and scalability of cable tray systems make them ideal for accommodating the increasing volume of cables in telecom networks. As technology evolves, the cable tray market continues to offer reliable solutions for cable management and contributing to the overall efficiency of communication networks.
Region with largest share:
The North American region has experienced significant growth in the cable tray market due to robust industrial and commercial expansion. The demand for efficient cable management solutions has surged with increasing infrastructure projects, including data centres, manufacturing facilities, and commercial buildings. The region's focus on upgrading and modernizing electrical networks has further propelled the adoption of cable trays. Additionally, stringent regulations emphasizing safety standards and the need for reliable cable support systems have also fueled the market's expansion in North America.
Region with highest CAGR:
The Asia-Pacific region has witnessed substantial growth in the cable tray market because of burgeoning infrastructure development, rapid urbanization, and expanding industrial activities. Increasing demand for efficient cable management solutions in sectors such as power generation, telecommunications, and IT has fuelled the adoption of cable trays. Government initiatives promoting smart cities and the surge in construction projects across countries like China and India contribute to the market's robust expansion. Additionally, the escalating need for reliable and organized cable routing in commercial and industrial spaces has further propelled the demand for cable trays.
Key players in the market
Some of the key players in Cable Tray market include ABB, Atkore International, Basor Electric SA, Chatsworth Products, Eaton Corporation, Hubbell Incorporated, Legrand, MP Husky Cable Tray & Cable Bus, Niedax MonoSystems, Inc, nVent, OBO BETTERMANN GmbH & Co. KG, Øglænd System Group, Panduit, Snake Tray, Superfab INC, Techline Mfg and Wiremaid USA.
Key Developments:
In December 2023, Hubbell Incorporated announced that it has completed its acquisition of Northern Star Holdings, Inc. , a portfolio company of Comvest Partners. Hubbell financed the acquisition and related transactions with net proceeds from borrowings under a new unsecured term loan facility in the aggregate principal amount of $600 million, cash on hand, and issuances of commercial paper.
In June2023, Chatsworth Products (CPI) has announced a strategic partnership with ZutaCore, a provider of direct-on-chip dielectric liquid cooling technology that efficiently absorbs heat away from high-powered processors. Data centre owners and operators will have the opportunity to achieve substantial data centre energy efficiency through emerging liquid cooling technology fully integrated with CPI's leading data cent20er cabinet solutions.
Types Covered:
• Ladder
• Solid Bottom
• Single Rail
• Channel
• Wire Mesh
• Trough
• Other Types
Finishings Covered:
• Hot-dip Galvanized
• Pre-galvanized
• Galvanized Coatings
• Other Finishings
Materials Covered:
• Stainless Steel
• Aluminium
• Plastic
• Other Materials
End Users Covered:
• Power
• Manufacturing
• Construction
• IT & Telecom
• Utilities
• Other End Users
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 End User Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Cable Tray Market, By Type
5.1 Introduction
5.2 Ladder
5.2.1 Swaged Ladder
5.2.2 Welded Ladder
5.3 Solid Bottom
5.4 Single Rail
5.5 Channel
5.6 Wire Mesh
5.7 Trough
5.8 Other Types
6 Global Cable Tray Market, By Finishing
6.1 Introduction
6.2 Hot-dip Galvanized
6.3 Pre-galvanized
6.4 Galvanized Coatings
6.5 Other Finishings
7 Global Cable Tray Market, By Material
7.1 Introduction
7.2 Stainless Steel
7.3 Aluminium
7.4 Plastic
7.5 Other Materials
8 Global Cable Tray Market, By End User
8.1 Introduction
8.2 Power
8.3 Manufacturing
8.4 Construction
8.5 IT & Telecom
8.6 Utilities
8.7 Other End Users
9 Global Cable Tray Market, By Geography
9.1 Introduction
9.2 North America
9.2.1 US
9.2.2 Canada
9.2.3 Mexico
9.3 Europe
9.3.1 Germany
9.3.2 UK
9.3.3 Italy
9.3.4 France
9.3.5 Spain
9.3.6 Rest of Europe
9.4 Asia Pacific
9.4.1 Japan
9.4.2 China
9.4.3 India
9.4.4 Australia
9.4.5 New Zealand
9.4.6 South Korea
9.4.7 Rest of Asia Pacific
9.5 South America
9.5.1 Argentina
9.5.2 Brazil
9.5.3 Chile
9.5.4 Rest of South America
9.6 Middle East & Africa
9.6.1 Saudi Arabia
9.6.2 UAE
9.6.3 Qatar
9.6.4 South Africa
9.6.5 Rest of Middle East & Africa
10 Key Developments
10.1 Agreements, Partnerships, Collaborations and Joint Ventures
10.2 Acquisitions & Mergers
10.3 New Product Launch
10.4 Expansions
10.5 Other Key Strategies
11 Company Profiling
11.1 ABB
11.2 Atkore International
11.3 Basor Electric SA
11.4 Chatsworth Products
11.5 Eaton Corporation
11.6 Hubbell Incorporated
11.7 Legrand
11.8 MP Husky Cable Tray & Cable Bus
11.9 Niedax MonoSystems, Inc.
11.10 nVent
11.11 OBO BETTERMANN GmbH & Co. KG
11.12 Øglænd System Group
11.11 Panduit
11.14 Snake Tray
11.15 Superfab INC
11.16 Techline Mfg
11.17 Wiremaid USA
List of Tables
1 Global Cable Tray Market Outlook, By Region (2021-2030) ($MN)
2 Global Cable Tray Market Outlook, By Type (2021-2030) ($MN)
3 Global Cable Tray Market Outlook, By Ladder (2021-2030) ($MN)
4 Global Cable Tray Market Outlook, By Swaged Ladder (2021-2030) ($MN)
5 Global Cable Tray Market Outlook, By Welded Ladder (2021-2030) ($MN)
6 Global Cable Tray Market Outlook, By Solid Bottom (2021-2030) ($MN)
7 Global Cable Tray Market Outlook, By Single Rail (2021-2030) ($MN)
8 Global Cable Tray Market Outlook, By Channel (2021-2030) ($MN)
9 Global Cable Tray Market Outlook, By Wire Mesh (2021-2030) ($MN)
10 Global Cable Tray Market Outlook, By Trough (2021-2030) ($MN)
11 Global Cable Tray Market Outlook, By Other Types (2021-2030) ($MN)
12 Global Cable Tray Market Outlook, By Finishing (2021-2030) ($MN)
13 Global Cable Tray Market Outlook, By Hot-dip Galvanized (2021-2030) ($MN)
14 Global Cable Tray Market Outlook, By Pre-galvanized (2021-2030) ($MN)
15 Global Cable Tray Market Outlook, By Galvanized Coatings (2021-2030) ($MN)
16 Global Cable Tray Market Outlook, By Other Finishings (2021-2030) ($MN)
17 Global Cable Tray Market Outlook, By Material (2021-2030) ($MN)
18 Global Cable Tray Market Outlook, By Stainless Steel (2021-2030) ($MN)
19 Global Cable Tray Market Outlook, By Aluminium (2021-2030) ($MN)
20 Global Cable Tray Market Outlook, By Plastic (2021-2030) ($MN)
21 Global Cable Tray Market Outlook, By Other Materials (2021-2030) ($MN)
22 Global Cable Tray Market Outlook, By End User (2021-2030) ($MN)
23 Global Cable Tray Market Outlook, By Power (2021-2030) ($MN)
24 Global Cable Tray Market Outlook, By Manufacturing (2021-2030) ($MN)
25 Global Cable Tray Market Outlook, By Construction (2021-2030) ($MN)
26 Global Cable Tray Market Outlook, By IT & Telecom (2021-2030) ($MN)
27 Global Cable Tray Market Outlook, By Utilities (2021-2030) ($MN)
28 Global Cable Tray Market Outlook, By Other End Users (2021-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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