Europe Cable Management Market - Segmented by Product (Cable Tray, Cable Ladder, Cable Gland), Material (Metallic, Non-Metallic) End-User and Geography - Growth, Trends and Forecasts (2018 - 2023)
The European cable management market is projected to reach USD 27.91 billion by 2023, recording a CAGR of 12.27% over the period 2018-2023. The scope of the report is limited to products offered by major players and the type of materials used to manufacture them. The regions considered in the scope of the report include the United Kingdom, Germany, Russia, France, and various others. The study also emphasizes on how the surging demand in IT and Telecommunications industry is driving the market.
Cable management involves management installation of cable-securing equipment for cables used in various applications. With the growing deployment of cables across industries, the demand for cable management is also increasing. The increasing demand for network and facilities and the volume of cables being installed have grown drastically. The deployment of high-capacity networks have resulted in complicated cable installations across many verticals. Thus, the need for management systems has gained prominence, driving the European cable managemnet market. Many developed nations in the region, such as Germany and France, are spending in infrastructure development. With the growing investments in various sectors, organizations are now focusing on renovating and upgrading existing infrastructure, to build better support for operations, resulting in the growth in the cable installation.
Upgrading and Renewal of Existing Networks in Developed Economies expected to Drive the Market
Many electrical and communication networks in developed countries are ageing with time, and with innovations in technology, there has been a huge rise in the demand for such networks. In addition, the increase in population and heavy usage of electrical devices have led to the increased demand for power and other communication services. Cisco estimates that the current network traffic will grow three-fold by the end of the decade, globally. The current infrastructure supporting these services is outdated and need to be upgraded, in order to handle the increasing demand and to support new technologies that are being employed.
Developed nations, such as the United Kingdom and other European countries, are investing heavily in upgrading the existing systems to improve efficiency and provide reliable service. The renewal of existing systems in the oil & gas, manufacturing, and construction industries is expected to impact the market.
Non-metallic Cables to Display the Highest Growth
Plastic is the widely used non-metallic material, used in the production of non-metallic cable glands. Plastic is used in the manufacturing of cable management components. It is usually composed of poly amide and features a metric thread, and is easy to deploy. Also, non-metallic cable management provides bending protection, which means, it prevents bending of the cables and eliminates the movement of cables around the device. This is an important feature for the safety of devices containing mobile parts, and is crucial for the setup to operate in many cases.
In addition, the advent of explosion-proof plastic cable glands with a class E security has a variety of applications in the chemical and petrochemical industries, increasing the demand for cable management solutions.
Increasing demand from the IT & Telecom industry expected to Augment the Growth
The IT & telecommunication industry is one of the fastest-growing market in the region. With the demand for high-speed connectivity growing in the It & telecom industry, companies are focusing on providing reliable services. The deployment of new cables to support communication services is resulting in demand for cable management solutions. The IT industry, one of the primary consumers of cable management, is expected to have an impact on the market demand. Moreover, with the renovation of current infrastructure projects in progress, the demand for cable management systems used in communication networks is expected to be high.
Key Developments in the Market