The global cable trays market is expected to reach a valuation of US$ 4.7 Bn in 2022 and continue to grow at a CAGR of 4.4% to reach US$ 7.2 Bn by the year 2032, according to research from Future Market Insights. By the end of 2022, the top 3 nations are expected to control between 30 and 35 percent of the global cable tray market.
Due to its superior support feature, the perforated cable trays product type segment is anticipated to hold the majority of the global market for cable trays. By the end of 2032, the same category is projected to account for almost 45% of market value.
According to the FMI analysis, the cable trays market revenue reached US$ 4.5 Bn in 2021. The global 1.5market is anticipated to reach US$ 7.2 Bn by the end of 2032, accelerating at a CAGR of 4.4% during the forecast period. The demand for metal cable trays is projected to boost with the top 5 key players holding 15-20% of the global cable trays market by the end of 2022.
The cable trays market is estimated to experience a positive growth outlook with the increasing need for cable bundling solution. A new forecast by FMI analysis anticipates that the cable trays sales will propel during 2022-2032 and is projected to create an absolute incremental opportunity of US$ 2.7 Bn.
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Competitive Landscape
The key players operating in the global cable trays market are trying to expand their production capacity and resources to meet the growing demand for cable management solutions through acquisitions and investment. Some of the latest key developments by the key players are as follows-
- In September 2022, ABB Group announced the expansion of its production capacity for cable trays in North America by investing US$ 13 Mn in its Installation Products Division Iberville manufacturing facility in Quebec.
- In May 2022, Atkore Inc. announced the acquisition of Talon Products, LLC, a company engaged in providing molded cable cleats which will help the company to provide a robust solution for cable management needs.
Historical Market Forecast for Cable Trays
From 2015 to 2021, the global market for cable trays grew at a 3.7% CAGR, from US$ 3.6 billion in 2012 to US$ 4.5 billion in 2021.
The cable trays are effective equipment for bundling and managing cables made of metal or plastic. Depending on the needs of the end user, the cable trays are made available in a variety of product kinds, including wire mesh, ladder, and perforated cable trays. Numerous end users, including those in the communications, energy and electricity, building and construction, and other industries, use the cable trays. The global demand for proper wire bundling solutions has increased, which has boosted cable tray sales.
How does the Developing Industrial Infrastructure Fuel the Demand for Cable Trays?
The rise in the number of set-ups in various end-use industries such as energy and power, building & construction, and others fuel the demand for wire management systems including cable trays. The development of infrastructure results in increased demand for cable trays to provide proper cable management systems as well as to ensure safety. The surge in the need for suitable and safe cable bundling solution for various end-user boost the demand for cable trays. Moreover, the increasing expenditure on the construction of new facilities augments the sales of cable trays. The industrial establishment with refurbishing and upgradation activities in old structures to meet the energy efficiency objectives is anticipated to drive the demand for cable trays.
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Cable Trays by Category
By Material, Cable Trays is Segmented as:
- Metal
- Plastic
By Product Type, Cable Trays Market is Segmented as:
- Ladder Cable Trays
- Perforated Cable Trays
- Solid Bottom Cable Trays
- Wire Mesh Cable Trays
By End-user, Cable Trays is Segmented as:
- Telecommunications
- Energy and Power
- Building and Construction
- Other End-user
By Region, Cable Trays Market is Segmented as:
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Middle East & Africa (MEA)
- Oceania
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