The global Cable Management Accessories market is expected to be impacted significantly by COVID-19.
The global Cable Management Accessories Market report explores the critical analysis of the cable management accessories industry using key parameters. The report consists of investment strategies, the need for investments in the cable management accessories industry, and the multiple benefits for the investors. Importantly, this report sets out major changes in the global technical regulations for the cable management accessories industry, as well as how economic and non-economic barriers are helping the cable management accessories market grow. Moreover, the report analyses the global, regional, and country-level historic and forecasted market size. The report also provides a comprehensive analysis of key investment propositions, demand and supply gap, competitors positioning, STAR analysis, SRC analysis, and Tornado analysis. Key technological developments and other analyses such as porter's five forces analysis, PESTEL analysis, value chain analysis, etc.
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In 2021, cable lugs will be the leading segment because extremely sophisticated cable lungs for effective electrical services and crimp connections in cable management systems are in high demand in the manufacturing sector.
In 2021, the I.T. & telecom segment in the end-use industry will lead the market since a growing need for communications services and technology is continuing to progress.
In 2021, Asia-Pacific was one of the major contributors to the global cable management accessories market. The market has been able to expand and leave a significant impression on the region thanks to the uptake of investments from FDI and the private sector. Additionally, increased government and private sector investment in renewable energy sources have helped to expand the regional market.
High-end cable management systems are being developed over time by industrial investors to sustain effective electrical services that can improve organizational performance. Developing insulated and non-insulated cable lugs that provide a constant electrical connection in various organizational applications is a goal of manufacturers in the cable management accessories industry. For instance, in August 2019, Legrand India, a division of Legrand SA, opened its first experience center in Dehradun, India, to display all Legrand products under one roof. Similarly, in August 2018, HellermannTyton Group PLC came up with an innovative, flexible mounting solution, i.e., FlexTack. This flexible cable tie mount is designed for angled and curved surfaces.
The devices for cable management accessories are useful for keeping the cords in place. They are goods and services that keep the area or structure safe. These cables have numerous uses that are crucial for industrial processes. Cable management accessories are required in most industrial applications to guarantee high productivity and prevent financial losses. To keep businesses' electrical services operating effectively, stakeholders in the manufacturing sector are investing more and more in top-tier cable management solutions. The market has developed significantly due to the increased use of cable management systems in the industrial and commercial sectors to meet demands for better performance, safety, and functional flexibility. Cable management accessories are required in most industrial applications to guarantee improved routine, high productivity, and prevent business damage.
It is anticipated to be a large increase in demand for cable lugs and markers due to rising investments in energy generation, distribution, and transmission infrastructure. These factors primarily drive the global market for cable management accessories. For instance, in 2021, 350 million dollars will be provided by the Abu Dhabi Fund for Development (ADFD) to implement government-sponsored renewable energy projects worldwide.
Some of the major players in the 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 S.E., T.E. Connectivity Ltd. and Thomas & Betts Corporation (ABB Ltd).
A significant market driver is increased investment in the cable management accessories market. The market's investment is steadily increasing. The technologies that use cable are developing at this time. The outdated cables are still in use in many areas. These wires must be transformed urgently. The user's investments are also driving up demand for these cable attachments.
Additionally, a lot of cable operators are choosing security. These days, providing safe and secure cable connections is crucial. The majority of consumers are aware of the need to secure cable wires. During the forecast period, these market trends will boost the revenue of the cable management accessories market. Additionally, many nations' expanding infrastructure is a significant factor driving this industry.
The market for cable management accessories' raw materials is periodic. The accessory market may collapse in the absence of appropriate raw materials. The market for cable management accessories is constrained by the requirement for extremely specialized raw materials. Complex raw materials include silicon, electronic parts, chip materials, and other items. A shortage of suitable raw materials might hamper growth.
In 2021, the I.T. & telecom segment grew the fastest due to ongoing technological advancements and increasing communication demand. Additionally, the rising demand in the telecom industry is fuelled by new systems and products created by manufacturers of cable management accessories to meet various requirements and the rising popularity of data/communication applications. The market is expected to rise due to the increasing need for high-performance data cabling in the I.T. and telecom sectors.
In 2021, the global cable management accessories market was dominated by Asia Pacific. The market is benefiting from the rise of the construction sector due to numerous government programs for the timely building of quality infrastructure in growing nations like China, Japan, Korea, and India. The major factors driving the need for power generation are the rising percentage of developing economies—like China, India, Brazil, and Russia—that have access to energy. The rising industrialization of nations like India and smart city development has increased the demand for cable management accessories and supported the market's expansion. Smart cities, which contain entertainment, modular infrastructure, lighting control systems, good power supply protection, and safety measures for access control and enhanced aesthetics, require the proper cable management accessories. Huge sums of money are invested in such programs.
Besides, the North American region is expected to grow significantly over the forecast period. Technological breakthroughs and expanding I.T. and telecom infrastructure are fuelling the region's growth in North America. The local economy is conducive to the expansion of this market. This area has a great need for this accessory. Numerous sectors require cable accessories. The U.S. and Canada are at the top of this list with the most demand. Global corporations expand the opportunities for demand in this industry. Additionally, this market is seeing an increase in investments.
The regulatory guidelines for cable management accessories apply to electrical installations in various end-use sectors, including manufacturing, healthcare, I.T. and telecommunications, and energy & utilities. These regulatory guidelines for cable support systems ensure that the conductors are not subjected to unnecessary mechanical strain. Additionally, they consider the wires' safety and any other necessary conditions in addition to their connections. For instance, in the United Kingdom, the primary prevailing industry standard for cable and wiring installations is B.S. 7671:2001 under the IEE Wiring Regulations.
The global Cable Management Accessories Market is anticipated to grow at a substantial CAGR of 5.20% in the upcoming years. The global Cable Management Accessories industry was estimated to be worth USD 149.6 billion in 2021 and was expected to be worth USD 202.8 billion by 2028.
Due to the expanding need for cable management accessories in the aircraft industry, there are chances for expansion. There are many potential opportunities for the cable management accessory market in the aircraft industry. Accessories for cables work well. They weigh very little. The best line securing attachments have these remarkable qualities as standard. This market makes extensive use of these lightweight wires. The market will increase significantly as cable attachments become more prevalent in the aircraft industry.
Global Cable Management Accessories Market – By Type
Global Cable Management Accessories Market – By End-Use Industry
Global Cable Management Accessories Market – By Region
The global Cable Management Accessories market is expected to be impacted significantly by COVID-19.
Asia Pacific accounted for the highest share in the global Cable Management Accessories market in terms of value.
A significant market driver is increased investment in the cable management accessories market. The market's investment is steadily increasing.
The cable lugs segment had a significant share in 2021, with more than 40% of the market revenue share.
I.T. & telecom segment had a significant share in 2021, with more than 30% of the market revenue share.
Report Attribute | Details |
---|---|
Market Value in 2021 | USD 149.6 billion |
Market Value in 2028 | USD 202.8 billion |
CAGR | 5.20% |
Benchmarking Year | 2021 |
Past data | 2016 – 2021 |
Forecast period | 2022 – 2028 |