Transparency Market Research delivers key insights on the global cable management accessories market. In terms of revenue, the global cable management accessories market is estimated to expand at a CAGR of ~8% during the forecast period, owing to numerous factors, regarding which TMR offers thorough insights and forecasts in its report on the global cable management accessories market.
Cable management accessories are considered an essential
utility under the portfolio of cable management systems. Cable management
refers to the installation of cable management systems to secure cables for
electric services in an organization/building/plant/vehicle/industry. Cable
management makes maintenance of or changes to a cable system easier, as it
provides support during installation.
Companies having developed cable infrastructure are not
capable to handle requirements of applications and devices. Thus, they face low
productivity and financial losses. The solution to this issue lies in proper
cable management. Cable management is a significant part of configuration
management for voice & data cabling and local area networks (LANs).
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Cable Management Accessories Market: Dynamics
Increasing penetration of cable lugs and markers is driving
the demand for cable management accessories worldwide. Use of cable lugs is
increasing rapidly, as cable lugs enable safe electric connection between the
wire and the terminal of an equipment. Several region-specific standards and
regulations have been imposed on cable lugs in order to ensure safe and
long-lasting connections. Additionally, cable lugs have distinct applications
in manufacturing plants. Cable markers are used in industrial facilities
operating under harsh environmental conditions such as extreme temperatures and
abrasion. This boosts the demand for cable markers across the globe. Cable lugs
and markers have witnessed high adoption worldwide over the past few years, due
to continuous installation of a large number of machines and assembly units,
followed by extensive channels of wiring systems. This is expected to continue
to augment the demand for cable management accessories across the globe during
the forecast period.
Furthermore, based on end-use industry, the global cable
management accessories market has been segmented into IT & telecom,
manufacturing, energy & utility, healthcare, logistics &
transportation, mining, oil & gas, and construction. Manufacturing is
anticipated to be the most rapidly expanding end-use industry segment during
the forecast period, followed by the energy & utility segment. The
manufacturing segment is expected to dominate the global market for cable
management accessories, expanding at the maximum CAGR of ~8% during
the forecast period. This can be attributed to surging investments in
manufacturing plants across the world. The energy & utility segment is
anticipated to expand at a significant CAGR during the forecast period, as
cable management accessories are increasingly being used across power
distribution/generation plants, substations, and in power
distribution/transmission equipment as well as related equipment.
Furthermore, rising adoption of smart homes and increasing
requirement for non-residential infrastructure and residential and government
infrastructure are propelling the demand for cable management accessories in
the construction segment.
Cable Management Accessories Market: Prominent Regions
Geographically, the global cable management accessories
market has been divided into five major regions. These include North America,
Europe, Asia Pacific, South America, and Middle East & Africa. In 2018,
North America was the leading region of the global market, followed by Europe.
Demand for cable management accessories is the maximum in North America, due to
growth of the IT & telecom industry in the region. The large number of wire
and cable shipments to electric utilities in the region is boosting the cable
management accessories market in North America. Moreover, the U.S. Government
has commissioned several studies to explore methods for upgrade of the existing
infrastructure. The U.S. held a leading share of the North America market in 2018.
The market in the country is estimated to expand at the maximum CAGR during the
forecast period. The market in Europe is anticipated to expand at a significant
CAGR during the forecast period, due to advancements in the field of logistics
& transportation in the region. The cable management accessories market in
Asia Pacific is likely to witness rapid growth during the forecast period.
Speedy growth of the IT industry in Asia Pacific has driven the demand for
mechanical cable management accessories, such as cable lugs, heat shrink tubes,
and cable markers, in the region. Additionally, rapid pace of urbanization in
developing economies of Asia Pacific is leading to increasing construction of
residential and commercial buildings and new power transmission lines, thereby
boosting the demand for cable management accessories in the region.
Cable Management Accessories Market: Key Players
The company profiling of key players operating in the global
cable management accessories market includes company overview, product or
business segments, major business strategies adopted, and market revenues for
the period from 2016 to 2018. Key players
profiled in the report on the global cable management accessories market
are Schneider Electric SE, Legrand S.A., Thomas & Betts Corporation
(ABB Ltd), TE Connectivity Corporation, HellermannTyton Group PLC, Chatsworth
Products, Inc., Eaton Corporation Inc., Panduit and Corporation, Gustav Klauke
GmbH, Partex Marking Systems USA LLC., and Cembre S.p.A. Several players
are introducing technologically advanced products and entering into partnerships
with other players to meet the continuously surging demand for advanced cable
management accessories.
Global Cable Management Accessories Market Segmentation
Cable Management Accessories Market, by Type
- Cable
Lugs
- Cable
Markers
- Heat
Shrink Tubes
Cable Management Accessories Market, by End-use Industry
- IT
& Telecom
- Manufacturing
- Energy
& Utility
- Healthcare
- Logistics
& Transportation
- Oil
& Gas
- Mining
- Construction
- Residential
- Commercial
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