According to a new market research report published by Acute Market Reports “Cable Trays Market (Product Type – Ladder Type, Solid Bottom, Trough, Channel, Wire Mesh and Single Rail; Material – Metallic and Non-metallic; Industry Verticals – IT & Telecom, Public Infrastructure, Industrial Manufacturing, Energy & Utilities, Oil & Gas, Commercial, Residential and Others (Marine, Healthcare, Education etc.)) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global cable trays market was valued at US$ 2,956.9 Mn in 2017 and is set to exhibit steady CAGR during the forecast period from 2018 to 2026.
Cable trays are witnessing increased preference for wiring systems due to their superior advantages over conventional electrical conduit systems. As compared to electrical conduits, cable trays offer higher safety, reliability, enhanced space utilization and lower cost. In addition, these are relatively easier to install and offer enhanced flexibility. The market is highly driven by the continually growing adoption of cable trays over other wiring methods. Over the period, cable tray vendors have introduced wide array of products, enabling their penetration across large number of applications. Thus, availability of wide range of products plays a crucial role in adoption of cable trays across different construction applications.
Browse the full report at https://www.acutemarketreports.com/report/cable-trays-market
Another prominent factor driving the market growth is the consistently rising construction industry worldwide. The industrial and commercial construction sector in the U.S., India and China have been demonstrating healthy growth post-economic slowdown. Considering the continually increasing adoption of cable trays, rising construction industry across the globe shows a positive sign for cable trays market growth. Nevertheless, predominant presence of electrical conduit systems in wiring systems is the major challenge for market growth. Despite the superior benefits of cable trays, electrical conduit systems enjoy higher penetration. This is mainly due to lesser confidence of consumers on safety offered by cable trays. Additionally, cable trays are suitable in relatively less number of applications as compared to electrical conduit systems.
The overall cable trays market is segmented based on product type, material, industry vertical and geography. Based on the product type, the ladder type cable trays segment lead the market. In 2017, the segment contributed to more than 60% of the total market value generated worldwide. Ladder type cable trays are among the most suitable and cost effective cable trays having application across nearly all the applications. Further, based on the geography, North America leads the overall market, closely followed by Europe. Asia Pacific is set to register the fastest growth rate in the market during the forecast period.
Cable trays market is fragmented in nature with presence of numerous regional as well as international players. Market players face remarkable challenges posed by fluctuating raw material prices, price pressure and complying with regulatory standards. Some of the major companies profiled in the report include Atkore International, Inc. (Allied Tube & Conduit), Chatsworth Products, Inc., Cooper Industries (Eaton Corporation), Hubbell, Inc., Chalfant Manufacturing Company, Legrand SA, Marco Cable Management, Oglaend System Group, Panduit Corporation, Schneider Electric SE, TE Connectivity Ltd., Thomas and Betts Corporation and others.
The Global Cable Trays Market is Segmented into:
Product Type Segment (2016–2026; US$ Mn)
Material Segment (2016–2026; US$ Mn)
Industry Vertical Segment (2016–2026; US$ Mn)
Geography Segment (2016–2026; US$ Mn)
*Complete segmentation list is on report page
Key questions answered in this report
- What are the current market trends and dynamics in the cable trays market and valuable opportunities for emerging players?
- Estimated forecast and market projections up to 2029
- Which segment accounts for the fastest CAGR during the forecast period?
- Which is the largest regional market for cable trays?
- What is the market trend and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
- The worldwide market value of the cable trays market in 2019 and 2020
- Which are the key trends driving the global cable trays market growth?
- Who are the leading service providers in the cable trays market worldwide?
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