The Cable Tray Global Market Report 2023, provides comprehensive information on the cable tray market across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa for the 27 major global industries. The report covers a ten year historic period – 2010-2021, and a ten year forecast period – 2023-2032.
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As per The Business Research Company’s Cable Tray Global Market Report 2023, 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%.
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Product innovation is the key trend gaining popularity in the cable tray market. Major companies operating in the cable tray market focus on developing new products. For instance, in December 2021, Hermi, a Slovenia-based manufacturer of lightning protection components, launched a new series of Hermi Fast Klick cable trays. Incorporating advanced, proprietary boltless connection technology makes this product unique and reduces the time needed to install cable pathways. The new cable trays can be joined to other trays more quickly and simply without using tools or bolts. These cable trays can be disassembled, reassembled, and locked multiple times.
The cable tray market 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 2022.
The table of contents in TBRC’s cable tray market report includes:
- Executive Summary
- Cable Tray Market Characteristics
- Cable Tray Market Trends And Strategies
- Cable Tray Market – Macro Economic Scenario
- Global Cable Tray Market Size and Growth
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- Global Cable Tray Market Competitive Benchmarking
- Global Cable Tray Market Competitive Dashboard
- Key Mergers And Acquisitions In The Cable Tray Market
- Cable Tray Market Future Outlook and Potential Analysis
- Appendix
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The Business Research Company is a market intelligence firm that pioneers in market, company, and consumer research. TBRC’s specialist consultants are located globally and are experts in a wide range of industries that include healthcare, manufacturing, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries. Through the report businesses can gain a thorough understanding of the market’s size, growth rate, major drivers and leading players.
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