The new report by Expert Market Research titled, ‘Global Cable Trays Market Trend, Share, Size, Growth, Report and Forecast 2022-2027’, gives an in-depth analysis of the global cable trays market, assessing the market based on its segments like types, materials, finishings, applications, and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
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The key highlights of the report include:
Market Overview (2017-2027)
- Forecast CAGR (2022-2027): 8%
The cable trays industry is being driven by rising building and construction activities. Cable management and wiring systems are integral parts of a structure that require strong, flexible, and anti-corrosive cable trays to bolster their safety and efficiency, which is fuelling the market growth. The market growth is estimated to be further propelled by the surging investments in industrial infrastructure in emerging economies.
The growing awareness about the advantages of hot-dip galvanised cable trays, including resistance to environmental impacts and high maximum operating temperatures, among others, is likely to provide impetus to the market growth in the forecast period.
Industry Definition and Major Segments
A cable tray is a unit that is used to provide insulated electric cables for power distribution, control and communication in a building. It is a tough and flexible product that provides mechanical protection where large quantities of power control cables are at work. It finds extensive applications in various end use industries, such as construction and manufacturing, among others.
The various types of cable trays include:
- Ladder type
- Solid Bottom
- Trough Cable Tray
- Channel Cable Tray
- Wire Mesh
The different materials of cable trays are:
- Stainless Steel
Based on finishing, the market is divided into:
- Galvanised Coatings
- Hot-Dip Galvanised
The significant applications of the product include:
- IT and Telecommunication
The regional markets for cable trays include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The increasing installation of modern electronic and electrical devices in the construction sector is likely to accelerate the demand for cable trays owing to their compatibility with modern electronic systems. Technological advancements in the healthcare infrastructure, rapid urbanisation, robust construction growth, growing population, and technological advancements in the building and construction sectors are also anticipated to augment the market growth.
The increasing development of residential buildings, hospitals, and shopping malls, among others, is likely to further propel the demand for cable trays. Moreover, the growth of the IT and telecommunications industries are increasing the demand for cable trays owing to their design flexibility, which is expected to further aid the market in the forecast period.
Key Market Players
The major players in the market are Schneider Electric, Hubbell Incorporated, Legrand SA, Eaton Corporation plc, Basor Electric Ltd, and Chalfant Manufacturing Co., among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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