Cable Management Systems Market, By Product Type (Cable Tray, Raceway, Floor Duct, Junction Box, Conduit, Connectors, Glands, Cable Chains and Reels, Lugs and Tools, and Others (Cable Tags, Route Markers, etc.)), By End-use Industry (IT & Telecom, Manufacturing, Energy & Utility, Healthcare, Logistics & Transportation, Mining and Others (Residential & Government)), and By Region (North America, Europe, Asia Pacific, Rest of the World) - Size, Share, Outlook, and Opportunity Analysis, 2022 - 2030
Cable management is the installation of cable management systems to secure cables for electrical services in an organization or industry or vehicle. This term is used for products or workmanship. Cable management finds applications in various end-use industries including mining, IT & telecom, healthcare, government, logistics & transportation, residential & government, manufacturing, etc. Products such as raceways, cable trays, and floor ducts are used to support a cable through cabling routes. Cable management further provides end-users with benefits such as labor-saving, cost-saving, increased adaptability, enhanced safety, and low maintenance.
The global cable management market was valued for US$ 16,811.6 Mn in 2021.
Urbanization is directly proportional to the economic development of a country. Rising population and urbanization in Asia Pacific region have increased economic activities there, which in turn, has increased the demand for residential and commercial spaces. Increasing the influx of people in cities has increased the demand for basic infrastructures such as roads, bridges, water, sewage, electricity, telecommunication, and public transport. According to Coherent Market Insights’ analysis, BRICS countries account for an average urbanization rate of about 44.0% as compared to the global average of 50.4%. The urbanization rate of BRICS countries is expected to reach 47.0% by 2015, and about 53% by 2020. Therefore, these factors are expected to drive growth of the global cable management systems market during the forecast period. In many mature countries, electrical grid infrastructures have reached tail-end of their operational lifespan. The average lifespan of transformer rages from 25 to 30 years. The aging equipment is incompatible with the technical and environmental requirements of the current times. Therefore, there is a demand for more efficient products and compatible infrastructure in order to help lessen the impact of pollution on the environment. Furthermore, there has been an expansion of services in resource-based industries, ongoing PCB replacement programs, and new green co-generation initiatives. Such initiatives have necessitated the demand for modernization and renewal of installed grids and bases. Hence, these factors are expected to propel the global cable management systems market growth in the near future.
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