July 02, 2020
According to the research report titled ‘Global Cable Management System Market Size study with COVID-19 impact, by Product (Cable Trays, Cabe Trunks, Boxer, connectors and distribution boards, cable conduits and Others), by Material (Metallic and Non-metallic), by End-use (IT & Telecom, manufacturing, Energy & Utilities, Healthcare and others) and Regional Forecasts 2020-2026’, available with Market Study Report LLC, global cable management system market was worth USD 16.69 billion in 2019 and is expected to expand with a CAGR of 8.20% over 2020-2026.
Cable management system plays an important role in containing and supporting cables during installation. This system makes maintenance of the cable system easier and more efficient. Cable management system provides convenience in tracing different connections to validate quality mandates and code compliance as per concerned regulatory authorities.
Global COVID-19 outbreak is likely to have a positive impact on cable management system market owing to rapid expansion of communication infrastructure and data centers, alongside flourishing consumer electronics & semiconductors industry. An investment is expected to be made to address the burgeoning network traffic and high data usage for remote working during the lockdown period. Schools and government offices have been temporarily shut down to implement social distancing, resulting in high demand for virtual offerings and communication infrastructure, which in turn, will impel the growth of cable management system market over the anticipated timeline.
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Notably, cables are widely used for supplying power to air-conditioners in commercial and residential buildings. Owing to their high resistance and superior fire performance properties, they also find application in underground network construction. As per the International Construction Market Survey, global construction industry recorded a growth rate of 3.5% in 2017, which increased to about 3.9% in 2018. Hence, flourishing construction sector is projected to influence market size in approaching years.
On the contrary, fluctuating prices of raw materials is impeding the growth of global cable management system market.
Regionally, worldwide cable management system market is segmented into Latin America, Europe, North America, Asia Pacific, and Rest of the World. North America currently holds majority market share, pertaining to the rise in demand for cable management systems in IT facilities and data centers.
Meanwhile, Asia Pacific market is slated to grow substantially over the forecast timeframe, owing to growth of construction industries in this region.
Leading organizations in global cable management system market are HellermannTyton Group PLC, Marco Cable Management, Legrand SA, Houston Wire & Cable Co., Enduro Composites, Inc., Leviton Manufacturing Co., Inc., Eaton Corp., Chatsworth Products, Inc., Atkore International Holdings Ltd., and ABB Ltd. among others.