According to a new market research report published by Acute Market Reports, “Cable Management Systems Market (Electrical Conduit Systems, Cable Trays & Ladders, Electrical Raceways, Cable Glands & Connectors, Floor Ducts & Boxes and Others (Reels, Chains, Lugs, Tags etc.)) - Growth, Share, Opportunities, Competitive Analysis, and Forecast 2020 - 2028” the global cable management systems market was valued at US$ 18.34Bn in 2019 and is estimated to expand with a CAGR of 9.1% from 2020 to 2028.
Browse the full report at https://www.acutemarketreports.com/report/cable-management-market
Market Insights
The COVID-19 pandemic caused an unprecedented halt in the overall construction activities across the world. For instance, a large number of commercial and residential projects in most of the developed countries were paused to strict lockdown restrictions. Moreover, with the economic downturn caused by the pandemic, some of the developing economies would be longer time to recover and resume construction activities. However, considering the fundamental requirement cable management systems in various types of buildings, the demand is expected to reach pre-COVID-19 levels by 2023.
Cable management is among the most important aspects of the construction industry. It includes handling of the entire cabling/wiring system of any building so as to manage the cable connections during as well as post construction. Some of the most significant components of the cable management systems include electrical conduit systems, trays & ladders, electrical raceways, cable glands & connectors, floor ducts & boxes and others. These components are used for cable management across various end-use applications such as residential and commercial construction, industrial construction, public infrastructure, IT & telecommunication sector and others.
The cable management systems market is strongly driven by the ever-rising construction industry worldwide. In addition, the market is also driven by the rising IT & telecommunication industry. Countries such as China, India, Brazil, South Africa and others are among the most promising economies. Due to rapidly growing industrialization across the countries, demand for cable management systems is expected to remain strong throughout the forecast period. Further, rising population coupled with growing energy demand worldwide is another important factor fueling the cable management market growth.
Competitive Insights:
The cable management systems market scenario varies largely across different regions. The market in North America and Europe is consolidated and highly competitive in nature. The regulations related to these systems are quite stringent in these regions making the markets competitive and better organized. The market in North America is governed by few major players such as Atkore International, Inc., Thomas & Betts Corporation, Calpipe, Inc., Legrand SA and others. However, the Asia Pacific region comprises large number of cable management system vendors making the market fragmented in nature. Due to presence of large number of local manufacturers and less stringent regulations on these systems, the market here is quite unorganized.
Key Trends:
