Albany, NY, May 20, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Cable Management System Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2014 - 2020" the global cable management system market was valued at US$ 7,190.2 Mn in 2013, growing at a CAGR of 11.8% from 2014 to 2020.
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Significant growth in the construction industry in BRICS economies coupled with a number of ongoing and planned major infrastructure development projects in MENA region are driving the growth of cable management system market, globally. In addition, renewal and upgradation of existing networks in mature economies is further bolstering the demand for cable management products. The global cable management system market is expected to reach the market size of US$ 15,609.1 Mn by 2020. However, high fragmentation of the cable management system market at regional levels and volatility in raw material prices hinders the growth of the global cable management system market.
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Currently, the global cable management system market is more than 65% commoditized. The products such as cable trays, raceways, conduits, connectors and floor ducts & junction boxes have existed over the past decade and are a regular feature of infrastructures across varied end-use verticals. The cable tray segment led the market in 2013, accounting for over 20% of the global revenue share. It is expected to continue its dominance throughout the forecast period as the product's adaptability, reliability, inherent safety features, and ease of maintenance result in major cost savings.
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In addition, the cable management system market has been further segmented by end-use industries into IT & telecom, manufacturing, energy & utility, healthcare, logistics & transportation, mining, and others (residential, government, retail, hospitality, critical infrastructure). The significant growth in IT & telecom segments, particularly across the Asia Pacific and RoW regions, has fueled the cable management system market. With significant growth in the IT and telecommunication sector, a large number of cable management products such as: cable trays, raceways, conduits, floor ducts, and junction boxes are being utilized in the respective infrastructural requirements. Thus, IT & telecom segment held majority share of the global cable management systems market in 2013, accounting for around 26%. The segment is further expected to continue its dominance during the forecast period 2014 to 2020.
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The cable management system market is recognized for brand value, with dominant players known to mark their presence. However, the global cable management systems market is highly fragmented at regional levels with both organized and unorganized players operating in the market. Some of the key players profiled in this report include Chatsworth Product, Inc., Thomas & Betts Corporation (ABB Group), Legrand SA, Schneider Electric SE, Cope (Atkore International Holdings Ltd.), Cooper Wiring Devices (Eaton Corporation), Voestalpine Metsec plc (Voestalpine Group), and Allied Tube & Conduit (Atkore International Holdings Ltd.) among others.
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Global Cable Management System Market, By Product Type
- Cable Tray
- Floor Duct and Junction Box
- Cable Conduit
- Cable Connectors
- Cable Glands
- Cable Chains and Reels
- Cable Lugs and Tools
- Others (Cable Tags and Route Markers)
Global Cable Management System Market, By End-use Industry
- IT & Telecom
- Energy & Utility
- Logistics & Transportation
- Others (Residential, Government, Hospitality, Critical Infrastructure, Retail)
Global Cable Management System Market, By Region
- North America
- Asia Pacific
- Rest of the World (RoW)
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Transparency Market Research (TMR) is a U.S. based provider of syndicated research, customized research, and consulting services. TMR's global and regional market intelligence coverage includes industries such as pharmaceutical, chemicals and materials, technology and media, food and beverages, and consumer goods, among others. Each TMR research report provides clients with a 360-degree view of the market with statistical forecasts, competitive landscape, detailed segmentation, key trends, and strategic recommendations.
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Source:Transparency Market Research