Global Cable Management Accessories Market was valued US$ XX Mn in 2019 and is expected to reach US$ XX Mn by 2027, at CAGR of XX% during forecast period of 2020 to 2027.
Global Cable Management Accessories Market by Region
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Increased adoption of cable management systems in the industrial and commercial sectors to fulfill the need for improved performance, safety, and functional flexibility has played a key role in the development of the market. In most of the industrial applications cable management accessories are a mandate as these ensure improved routine, high productivity and avoid business damages.
The report study has analyzed revenue impact of COVID -19 pandemic on the sales revenue of market leaders, market followers and market disrupters in the report and same is reflected in our analysis.
Mounting Demand for Cable Management Accessories in Aerospace and IT Sectors
Since there is a huge demand for weight-reducing materials in the aerospace industry, manufacturers in the cable management system market are optimized for new opportunities in the aerospace industry. Thus they are increasing the production of customized and precision parts that satisfy the top to bottom needs of the aerospace industry. Besides, various companies are focusing to develop wiring solutions for in-flight entertainment systems.
Demand for Standardized Cable Lugs & Tubular Cable Lugs to Generate Incremental Opportunities
The investors in the manufacturing domain are gradually advancing the high-end cable management systems to maintain efficient electrical services, which can boost the performance of their organizations. This in turn has generated the demand for effective cable lugs. Manufacturers in the cable management accessories market are striving to develop insulated and non-insulated cable lugs that assured for consistent electrical connection in various applications of an organization. Simultaneously healthy competition in the cable management accessories market, motivates players to increase production capabilities of cable lugs that meet international standards. They are also developing cable lugs that offer best crimp connections with various crimping tool sets. For instance, Weidmuller – an industrial solutions provider, emerged with the production of multi-purpose cable lugs that fulfil the global standards of DIN and UL. Cable lugs type segment of the cable management accessories market was accounted value share of US$ 1X.XX Bn in 2019 and expected to reach a value of ~US$ XX.XX Bn by 2027.
The usage of tubular cable lugs have increased in the ultrasonic crimping process. These cable lugs are an innovative outline in the production of electrical drives in the cable management accessories market landscape. Tubular cable lugs guarantee stability in high-frequency energy consumption for ultrasonic crimping processes. Thus, tubular cable lugs are a time and energy-efficient alternative in ultrasonic crimping processes.
The extensively growing IT & telecom sector around the globe is propelling the demand for heat shrink closures. Likewise, players operating in the cable management accessories market are developing heat shrink closures that enhance network performance. As such, heat shrink tubes type segment was valued US$ XX.XX Mn in 2019 and is projected to reach a value of ~US$ XX.XX Mn by 2027. Additionally, tried and tested efforts have led to innovations in splice closures that support cable diameters and joint dimensions.
Companies Develop Laser Marking Systems to Discourse Problems of Counterfeit Cables
In order to improve the traceability of wires, there is a growing need for advanced solutions that avoid counterfeit cables. Laser marking systems are being progressively used to improve traceability and generate identification codes for cable and wire markings. Therefore, manufacturers in the cable management accessories market are increasing their focus in laser marking solutions. Owing, cable markers type segment of the cable management accessories market was accounted for US$ XX.XX Mn in 2019 and anticipated to reach a value of ~US$ XX.XX Mn by the end of 2027. Moreover, companies in the cable management accessories market are increasing R&D activities to Develop advanced laser marking systems to discourse problems of counterfeit cables. Companies in the cable management accessories market are offering cost-efficient solutions to stakeholders, as laser marking solutions significantly supplement marking processes.
Global Cable Management Accessories Market Regional Analysis
The growing infrastructure of IT & telecom industry along with advancements in technology is driving the growth in North America & Asia Pacific market. In terms of revenue North America has contributed for US$ XX.XX Mn in 2019 and expected to reach US$ XX.XX Mn with CAGR of XX% over the forecast period. Asia Pacific is also witnessing the growth in this market as due to several government initiatives for time-bound construction of excellent infrastructure in developing countries such as China, Japan, Korea & India are nurturing the growth of the construction sector, which in turn is working in favor of the market. Increasing electricity access percentage in developing economies, such as China, India, Brazil, and Russia, acts as a key factor driving the demand for power generation. In 2019, the Abu Dhabi Fund for Development (ADFD) declared to make available US$ 350 Mn for the operation of government-supported renewable energy projects worldwide. Countries like India have focused towards rapid industrialization with advanced technology as well as initiative of developing smart cities have increased the demand of cable management accessories and supplemented the market growth. For such initiatives, huge amounts are invested in smart cities, which include entertainment, modular infrastructure, lighting control systems along with excellent power supply protection and safety measures for access control and better aesthetics, which requires appropriate cable management accessories.
Similarly, rise in renewable energy generation as well as increase in the number of infrastructure developmental projects in Middle East & Africa, along with the stringent regulations on cable management accessories are likely to fuel the global cable management accessories market during the forecast period.
In terms of revenue, the global cable management accessories market is accounted for the US$ XX.XX Bn and likely to reach a value of ~US$ X2.X8 Bn by 2027, expanding at a CAGR of ~7X.XX % during the forecast period.
Latest Trend, Driver and Challenge in Cable Management Accessories Market
A key trend that is witnessed in the global cable management accessories market is rise in the dependence of institutions and businesses that use high-performance cabling for IT.
The telecom sector has witnessed the express advancements in recent times, due to constant technology innovations and increasing demand among customers of the communication medium. Owing to the demand for data/communication applications is increasing, manufacturers of cable management accessories have started developing new products and systems that can adapt to varying requirements.
Fluctuations in Prices of Raw Materials a Major challenge as some of the key raw materials required to manufacture cable management accessories include steel, copper, aluminum, and plastics. Prices of some of these raw materials such as steel and plastics have been volatile and unpredictable, which makes it difficult for cable manufacturers to continue production at optimum prices.
Manufacturers are unwilling to compromise on their profit margins below a certain limit and thus, the load of additional prices need to bear by the end users. This trend is expected to remain consistent during the forecast period, hampering the market growth.
Key players operating in the global cable management accessories market are
• Cembre S.p.A.
• Chatsworth Products, Inc.
• Eaton Corporation Inc.
• HellermannTyton Group PLC
• Gustav Klauke GmbH (Emerson Electric Co.)
• Legrand S.A.
• Panduit Corporation
• Partex Marking Systems AB
• Schneider Electric SE
• TE Connectivity Ltd.
• Thomas & Betts Corporation (ABB Ltd)
Cable Management Accessories Market: Key Developments
• In August 2018, HellermannTyton Group PLC come up with an innovative flexible mounting solution i.e. FlexTack. This flexible cable tie mount is designed for use on angled and curved surfaces.
• In July 2018, Panduit Corp. launched its newly developed and the smallest Vari-MaTriX line of Category 6A copper cables with 0.25 inches diameter. These small-sized and lightweight cables offer improved cable management and high capacity capacity.
• In October 2017, TE SubCom, a subsidiary of TE Connectivity Ltd., announced a contract in force for JUPITER cable, which is designed to increase high-capacity connectivity between regions Asia and the U.S.
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Global Cable Management Accessories Market is studied by Various Segments:
The analysts at Maximize Market Research have done an extensive research for the Global Cable Management Accessories Market and provides the report with detail study of the market by various segments and by region.
Global Cable Management Accessories Market by Type
• Cable Lugs
• Cable Markers
• Heat Shrink Tubes
Global Cable Management Accessories Market by End-use Industry
• IT & Telecom
• Manufacturing
• Energy & Utilities
• Healthcare
• Oil & Gas
• Public Infrastructure
• Commercial
• Residential
• Others
Global Cable Management Accessories Market by Region
• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa
Objective of the Global Cable Management Accessories Market:
The objective of the report is to present a comprehensive analysis of Global Cable Management Accessories Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all aspects of the industry with a dedicated study of key players that includes market leaders, followers and new entrants by region. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors by region on the market are presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers. The report also helps in understanding Global Cable Management Accessories Market dynamics, structure by analyzing the market segments and project the Global Cable Management Accessories Market size. Clear representation of competitive analysis of key players by type, price, financial position, product portfolio, growth strategies, and regional presence in the Global Cable Management Accessories Market make the report investor’s guide.
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