Overview and Scope
A cable tray is a mechanical support structure that offers a rigid structural system for the insulated conductors, raceways, and electrical cables used in signal measurement, communication, power distribution, and control. It is usually used for cable management in commercial and industrial projects as an alternative to open wiring or electrical passage systems.
Sizing and Forecast
The cable tray market size has grown strongly in recent years. It will grow from $3.66 billion in 2023 to $3.94 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to increased infrastructure development, expansion in construction, power generation, and data centers, increased demand for cost-effective solution.
The cable tray market size is expected to see strong growth in the next few years. It will grow to $5.14 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to expansion of renewable energy sector, expansion of smart grids and data centers, growing urbanization, environmental considerations. Major trends in the forecast period include innovative solutions, integration of automation and sensors, strategic investments, technological advancements, strategic collaborations.
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Segmentation & Regional Insights
The cable tray market covered in this report is segmented –
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
Asia-Pacific was the largest region in the cable tray market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cable tray market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
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.
Key Industry Players
Major companies operating in the cable tray market report are Schneider Electric SE, ABB Ltd, Eaton Corporation plc, Lumen Technologies Inc., Legrand SA, Hubbell Incorporated, Atkore Inc, Cooper Industries Inc., nVent HOFFMAN, Thomas & Betts, RS Components Ltd., Basor Electric Inc., MP Husky USA, Techline Mfg., Ellis Patents Limited, United Electric Co-op Inc., Niedax Group, Unitrunk Limited, Chalfant Manufacturing Company, SnakeTray, Johnson Bros. Roll Forming Co., Vantrunk Ltd, Selco Manufacturing Corp., Acme Wire Products Co. Inc., Wieland Electric GmbH, Wiremaid Products Corp., Oglaend System Group.
The cable tray market report table of contents includes:
1. Executive Summary
2. Cable Tray Market Characteristics
3. Cable Tray Market Trends And Strategies
4. Cable Tray Market – Macro Economic Scenario
5. Global Cable Tray Market Size and Growth
…
32. Global Cable Tray Market Competitive Benchmarking
33. Global Cable Tray Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Cable Tray Market
35. Cable Tray Market Future Outlook and Potential Analysis
36. Appendix
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