The Global Wire And Cable Management Market reached a size of USD 15.82 Billion in 2017; it is projected to reach USD 25.26 Billion by 2023, growing at a CAGR of 8.36%, from 2018 to 2023. Increasing investments in infrastructure development activities, high demand from IT facilities and data centres, and growing urbanization in the developing regions of Asia Pacific the Middle East and Africa are driving the market for wire and cable management.
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In this report, the Wire And Cable Management Market has been analysed with respect to five regions, namely, Asia Pacific, North America, Europe, the Middle East & Africa, and South America. Asia Pacific is the largest wire and cable management market, by region, during the forecast period. Rising urbanization and proliferation of electrification, demand from the construction and mining sectors, growing awareness of energy savings, and supportive government plans are expected to drive the market for wire and cable management in this region. China, India, and Japan are the leading countries among others which would contribute to the growth of the wire and cable management market in Asia Pacific.
Some of the leading players in the wire and cable management market are: Legrand (France), Eaton (Ireland), Obo Bettermann (Germany), Panduit (US), and Atkore (US). These players have adopted growth strategies such as new product launches, contracts & agreements, mergers & acquisitions, and expansions to capture a larger share of the wire and cable management market.
The global wire and cable management market, by material, has been segmented into metallic and non-metallic. The metallic segment is expected to grow at a faster rate during the forecast period than the non-metallic segment. Metallic cable management products are widely used in applications that require high material strength, durability, and installation in tough environments. Driven by higher efficiency and increasing investments in the industrial sector, the number of metallic cable management product installation is expected to increase during the forecast period.
The report further segments the wire & cable management market, by end-user, into commercial, industrial, and residential. The commercial segment is expected to grow at the highest CAGR during the forecast period. Growing urban population, increasing investment in the construction sector, and need for easy-to-handle data cables in data centres are driving the commercial segment, especially in developing countries such as India, Saudi Arabia, Thailand, Vietnam, Malaysia, and others.
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The major factor restraining the growth of the Wire And Cable Management Market is rapid changes in the prices of raw materials such as rubber, aluminium, copper, and plastic, which are mainly required for manufacturing cable management products such as cable trays, ladders, cable raceway, cable ties, and others. The prices of raw materials directly affect the units of the value chain, which includes procurement and operation costs.