Cable management accessories are physical systems that help to minimize planning process by adequately maintaining documented physical networks. These accessories are crucial in the majority of industrial applications to avoid financial losses and ensure high productivity. Company owners, especially from manufacturing domain, invest significantly in high-end cable management systems to maintain efficient electrical services in organizations. By reassessing surplus items, cable management accessories aid in improving lifecycle of data assets of telecommunications. Moreover, these systems manage telecommunication inventory to provide organizational efficiency. Cable management accessories also provide enhanced performance, functional flexibility, and safety. Moreover, these accessories help to avoid business damages. Manufacturers in the market are introducing novel accessories with lightweight yet durable materials, especially for the aerospace industry.
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The global cable management accessories market was valued for US$ 1573.5 Mn in 2019 is expected to exhibit a CAGR of 7.9% during the forecast period.
Market Dynamics- Drivers
High demand for energy and constant investments in infrastructure are expected to drive growth of the global cable management accessories market during the forecast period
The global infrastructure industry has witnessed significant investment in the recent past. Global energy infrastructure and public sector infrastructures such as railways, roads, airports, and communication networks need to be expanded and replaced. Increasing electricity consumption in emerging economies such as India, China, Brazil, and Russia is the major driving factor. According to Coherent Market Insights’ analysis, the electricity access percentage in 2010 for China, India, Brazil, and Russia was 99.7%, 75.0%, 98.9%, and 100.0% respectively. Furthermore, according to the U.S. Energy Information Administration, the global energy consumption in 2010 stood at around 500 quadrillion British units and is expected to register a CAGR of 2.17% to reach 620 quadrillion British units by 2020. Moreover, cable lugs are mainly indicated for electricity distribution or industrial networks where they can be subjected to short-circuit of relatively high intensity and long duration. Therefore, these factors are expected to drive the market growth over the forecast period.
Renewal and replacement of existing networks in mature economies is expected to propel the global cable management accessories market growth over the forecast period
In majority of developed countries, electrical grid infrastructure is reaching its end of service lifespan, after strong investments that were made in the sector in the 1970s. The average life span of a transformer ranges from 25 to 30 years. The aging equipment is not suitable for environmental and technical requirements of the modern generation. Hence, there is a constant demand for efficient and more compatible infrastructure, in order to lessen the impact of pollution on the environment. Moreover, governments in many countries are focused on extending the lifespan of transformer to past current average of 20 years. However, there is a strong requirement to replace pre-existing equipment and infrastructure with more suitable and efficient units. Hence, the renewal and replacement of existing infrastructure are expected to boost the global cable management accessories market growth in the near future.
North America region dominated the global cable management accessories market in 2019, accounting for 30.7% share in terms of value, followed by Europe and Asia-Pacific, respectively
Evolution of non-metallic lug insulators is expected to present lucrative growth opportunities over the forecast period
Since the machine reliability increased enormously, cable management has become an important aspect within an organization. The non-metallic insulators have proven to be a significant initiative in the cable lug and marker market for enhancing the market growth. Moreover, the insulators protect the terminal connections from accidental shorts. Various material options facilitate manufacturers to design accessories suitable for high-temperature environments. These lug insulators can be used for alternators, starters, generators, and other devices.
High demand in aerospace industry can provide major business opportunities
Manufacturers in the global cable management accessories market can leverage new opportunities in the aerospace industry. There is a high demand for weight-reducing materials in the aerospace industry, where manufacturers can focus on prodding lightweight cable management accessories with customized and precision parts that cater to the specific needs of engineers in the industry.
This report segments the global cable management accessories market on the basis of by product type, by end user industry, and region. On the basis of product type, the global cable management accessories market is segmented into cable Lung, Cable Marker and Heat Shrink Tube. On the basis of end user industry, global cable management accessories market is segmented into IT and Telecom, Manufacturing, Energy & Utility, Health Care, Logistics and Transportation (Railways and Other), Mining, Oil & Gas, Construction, (Residential and Commercial). On the basis of region, global cable management accessories market is segmented into North America, Latin America, Europe, APAC, Middle East and Africa.
Key features of the study:
• This report provides an in-depth analysis of the global cable management accessories market and provides market size (US$ million) and compound annual growth rate (CAGR %) for the forecast period (2019-2027), considering 2018 as the base year
• It elucidates potential revenue opportunities across different segments and explains attractive investment proposition matrix for this market
• This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, regional outlook, and competitive strategy adopted by leading players
• It profiles leading players in the global cable management accessories market based on the following parameters – regulatory landscape, company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments and strategies, and future plans
• These key market players are focusing on collaboration strategy with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.
• Insights from this report would allow marketers and management authorities of companies to make informed decision regarding future product launches, technology upgradation, market expansion, and marketing tactics
• The global cable management accessories market report caters to various stakeholders in this industry including investors, suppliers, distributors, new entrants, and financial analysts
• Stakeholders would have ease in decision-making through the various strategy matrices used in analyzing the global cable management accessories market.
Global Cable Management Accessories Market, By Product Type
• Cable Lung
• Cable Marker
• Heat Shrink Tube
Global Cable Management Accessories Market , By End User
• IT and Telecom
• Energy & Utility
• Health Care
• Logistics and Transportation
• Oil & Gas
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Key players operating in the global cable management accessories market are Partex Marking Systems USA, Cooper Wiring Devices (Eaton Corporation), Schneider Electric SE, Chatsworth Products, Inc., Legrand SA, Weidmuller Interface GmbH & Co. KG, Thomas & Betts Corporation, Anixter Inc., HellermannTyton Group PLC, Panduit Corp., TE Connectivity Ltd., Cembre SpA, Klauke GmbH, and CableOrganizer.com LLC.
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