The Business Research Company’s Cable Tray Global Market Report 2023 is the most detailed report available on the market, including broad forecast periods and multiple geographies. The report covers the historic period – 2010-2021, and the forecast period – 2023-2032. The Cable Tray Global Market Report 2023 evaluates cable tray market size, growth rate, drivers, trends, and major companies.
The report provides a global perspective by covering 60 geographies and focusing on major economies in each region – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
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The global cable tray market is expected to grow from $3.40 billion in 2022 to $3.66 billion in 2023 at a compound annual growth rate (CAGR) of 7.62%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, and affecting many every markets across the globe. The cable tray market is expected to reach $4.78 billion in 2027 at a CAGR of 6.87%.
The expanding construction sector is expected to boost the growth of the cable tray market going forward. Construction refers to the actions involved in installing and assembling project tools and materials on the work site following approved construction plans, guidelines, and specifications. Cable trays are used in the construction sector for organized cable management, ensuring protection, accessibility, and flexibility while maintaining cost-effectiveness and safety standards. For instance, in March 2023, according to a report published by the Office for National Statistics, a UK-based producer of official statistics, in the fourth quarter of 2022, quarterly construction production increased by 0.3% compared to the third quarter of 2022. Additionally, after a record growth in 2021 of 12.8%, the annual production of construction climbed by 5.6% in 2022 compared to 2021. Therefore, the expanding construction sector is driving the growth of the cable tray market.
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The cable tray market segments in the report are:
1) By Type: Ladder Type Cable Trays, Solid Bottom Cable Trays, Trough Cable Trays, Channel Cable Trays, Wire Mesh Cable Trays, Single Rail Cable Trays
2) By Material Type: Steel, Stainless Steel, Aluminum, Other Material Types
3) By Finishing: Galvanized Coatings, Pre-Galvanized, Hot-Dip Galvanized
4) By Application: Power, Construction, Manufacturing, Information Technology (IT) And Telecommunication, Other Applications
The table of contents in TBRC’s cable tray market report includes:
- Executive Summary
- Market Characteristics
- Market Trends And Strategies
- Impact Of COVID-19
- Market Size And Growth
- Segmentation
- Regional And Country Analysis
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- Competitive Landscape And Company Profiles
- Key Mergers And Acquisitions
- Future Outlook and Potential Analysis
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