DUBLIN--(BUSINESS WIRE)--Oct 16, 2020--
The "Cable Management Market by Type, and End User: Global Opportunity Analysis and Industry Forecast, 2020-2027" report has been added to ResearchAndMarkets.com's offering.
According to this report the global cable management industry size was valued at $18.31 billion in 2019, and is projected to reach $35.02 billion by 2027, registering a CAGR of 7.9% from 2020 to 2027.
The global cable management market is in its growing phase, having presence in almost all the regions. Technological advancements and a rise in economies boost the prospects in the cable management market. In the prevailing business scenario, the demand for innovative and quality cable management products is witnessing significant growth amongst the various end users. Adoption of technology and a rise in living standards in the BRIC countries increase the use of cable management solutions. On the other hand, intense competition among the regional market players and fluctuating raw material prices hinder the market pace.
In Europe, world's leading countries contribute to economic growth, such as Greece, Luxembourg, the Netherlands, France, Russia, and others. Cable management products are popular in Europe for home appliances, infrastructure, IT, construction, and manufacturing industries. However, the demand for wire and cable management products has experienced high level of divergence in the European economies.
The cable management market is expected to garner a significant share during the forecast period. Increase in demand due to technological advancements, commercialization of renewable energy, and widespread of various industrial verticals drive the growth of the cable management market in this segment. However, a lack of standardization for price of raw material hinders the market growth. On the contrary, growth in investment in the Asia-Pacific region and developments in the IT & telecom sector offer lucrative opportunities in the market.
The cable management market is segmented into type, end user, and region. By type, it is divided into cable trays, cable raceways, cable glands, conduits, cable connectors and glands, cable carriers, cable lugs, junction box, and others. By End User, it is classified into IT & telecommunication, healthcare, marine, mining, manufacturing & automation, aerospace, commercial construction, and others, including transportation, residential construction and government. By Region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA.
Key Benefits for Stakeholders
- The study provides an in-depth analysis of the global cable management market forecast along with the current & future trends to elucidate the imminent investment pockets.
- Information about key drivers, restraints, and opportunities and their impact analysis on the global cable management market size is provided in the report.
- Porter's five forces analysis illustrates the potency of the buyers and suppliers operating in the industry.
- The quantitative analysis of the market from 2019 to 2027 is provided to determine the market potential.
Key Findings of the Study:
- By type, the cable conduits segment was the highest contributor to the market, with $5,203.0 million in 2019
- By end user, the IT and telecommunication segment was the highest contributor to the market, with $3,609.3 million in 2019.
- By region, North America was the highest revenue contributor, accounting for $5,444.2 million in 2019.
- Increase in Demand Due to Technological Advancements
- Commercialization of Renewable Energy
- Widespread of Various Industrial Verticals
- Lack of Standardization for Price of Raw Material
- Growing Investment in Asia-Pacific Region
- Growth of It & Telecom Sector
- Rapid Urbanization in Developing Nations
- Chatsworth Products
- ABB Group
- Schneider Electric
- Atkore International
- Leviton Manufacturing Co., Inc,
- Prysmian S.P
For more information about this report visit https://www.researchandmarkets.com/r/ak8k9p
View source version on businesswire.com:https://www.businesswire.com/news/home/20201016005384/en/
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SOURCE: Research and Markets
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PUB: 10/16/2020 08:04 AM/DISC: 10/16/2020 08:04 AM