According to a new market research report published by Acute Market Reports “Cable Cleats Market (By Material: Metallic and Non-metallic; By Number of Cores: Single Core and Multicore) - Growth, Future Prospects, and Competitive Landscape, 2020-2028”, cable cleats market was valued at US$ 668.3 Mn in 2019 and is estimated to grow at a CAGR of 6.1% from 2020 to 2028.
The complete report is available at https://www.acutemarketreports.com/report/cable-cleats-market
Market Insights
Cable cleat is a cable management product used to support and hold cables installed on trays/ladders or without conduit systems. These are useful in ensuring long life of cables as they reduce damage caused to the cables due to their own weight. Cable cleats have been useful in applications having heavy cables, power lines and transportation infrastructure. The market for cable cleats worldwide has received the necessary impetus from revival of the construction industry post economic recession. Additionally, the market has been witnessing impressive growth since the introduction of cable cleats of standard EN 50368 in 2003. Another major factor driving market growth is the advantages offered by cable cleats for effective cable management. Holding and maintaining the cable position even in the most critical conditions such as short circuits are easily handled by cable cleats. With the consistently growing efforts in innovating cleat designs, the market growth is estimated to remain strong throughout the forecast period.
The cable cleat providers across the world focus majorly on providing cable management solutions specific to different applications. This has significantly impacted the cable cleats industry in a positive manner. Manufacturers are now inclined towards designing cable cleats that can be used for specific applications such as high power cables, railway power cables, commercial buildings and several others. Cable cleat manufacturer emphasizes on expanding their product portfolio that can cater to varying requirements. These may include physical strength, various levels of short circuits, area of installation and several others. The trend is primarily governed by the consistently increasing competition in the overall cable management systems market worldwide.
Competitive Insights:
The market for cable cleats is fairly unorganized and is characterized by a large number of local as well as international cable cleat manufacturers. Big players face tough competition from local players in terms of price and availability. Companies have been engaged in coming up with new and improved product designs and aim towards expanding their sales and distribution network. The use of more stable materials is one of the prime focus of cable cleats manufacturers. Major players in the market include Ellis Patents Ltd., Remora Electrical Limited, BICON, Eland Cables Limited, CMP Products Limited, Oglaend System Group, Nantong Naco Fluid Equipment Co. Ltd., IPD Group Limited, TransDelta International Industries L.L.C and Novoflex Marketing Pvt. Ltd.
Key Trends:
Providing application specific solutions for cable management
Distribution network expansion and acquisitions
Consistently growing demand for cable cleats from the energy sector
