According to the latest market research study by Technavio, the global cable tray market is expected to grow at a CAGR of close to 14% during the forecast period 2017 to 2021.
This report by Technavio provides an in-depth analysis of the global cable tray market in terms of revenue and emerging market trends. The report also includes an up-to-date analysis and forecasts for various market segments and across all geographical regions.
Technavio research analysts categorize the market based on the end-user
Source: Technavio
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The top three revenue contributing end-user segments are discussed below
Global cable tray market in power sector: Cable trays are widely used in T&D of electric power. The US, China, and India are the top three consumers of electric energy; as a result, these countries have a strong demand for cable trays. Among these, the US has witnessed the extensive demand for cable trays in the power sector due to the upgrading and maintenance activities.
“Growing investments in the energy T&D network and the renovation and expansion of existing networks will drive the demand for cable trays in the power sector. Cable trays are used to support high, medium, and low-voltage power cables,” says Anju Ajaykumar, a lead analyst at Technavio for research on engineering tools.
Global cable tray market in construction sector: The sustained growth of the commercial sector, particularly the rapid growth in APAC, is driving the demand for cable trays. The expansion of the construction sector is creating the need for new network infrastructure for power and communication, which is boosting the demand for cable trays to support the wiring.
Global cable tray market in the manufacturing sector: The rate at which cable trays are deployed in industrial manufacturing segments, such as automotive, heavy machinery, electronics, consumer goods, and chemical manufacturing, is high. The manufacturing industry has strong regulations for cable management systems owing to high safety requirements in this sector.
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The top vendors operating in the global cable tray market are:
- Atkore International
- Eaton
- Legrand
- Schneider Electric
- Thomas & Betts
The other prominent vendors in the market include Chalfant Manufacturing Company, MP Husky, Oglaend System, Snake Tray, Techline Manufacturing, Hoffman, RS Pro, CE, igus, EDP, Vantrunk, Marco Cable Management, Metsec (part of Voestalpine), Unitrunk, Ellis, Niedax, Chatsworth Products, Panduit, Enduro Composites.
A more detailed analysis is available in the Technavio report titled, ‘Global cable tray Market 2017-2021’. Technavio also customizes reports by other regions and specific segments upon request.
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