According to a new market research report published by Credence Research, the global cable trays market was valued at US$ 2,956.9 Mn in 2017 and is set to exhibit steady CAGR during the forecast period from 2018 to 2026.

Market Insights

Cable trays are witnessing increased preference for wiring systems due to their superior advantages over conventional electrical conduit systems. As compared to electrical conduits, cable trays offer higher safety, reliability, enhanced space utilization and lower cost. In addition, these are relatively easier to install and offer enhanced flexibility. The market is highly driven by the continually growing adoption of cable trays over other wiring methods. Over the period, cable tray vendors have introduced wide array of products, enabling their penetration across large number of applications. Thus, availability of wide range of products plays a crucial role in adoption of cable trays across different construction applications.

Browse Full Report Originally Published by Credence Research at https://www.credenceresearch.com/report/cable-trays-market

Another prominent factor driving the market growth is the consistently rising construction industry worldwide. The industrial and commercial construction sector in the U.S., India and China have been demonstrating healthy growth post-economic slowdown. Considering the continually increasing adoption of cable trays, rising construction industry across the globe shows a positive sign for cable trays market growth. Nevertheless, predominant presence of electrical conduit systems in wiring systems is the major challenge for market growth. Despite the superior benefits of cable trays, electrical conduit systems enjoy higher penetration. This is mainly due to lesser confidence of consumers on safety offered by cable trays. Additionally, cable trays are suitable in relatively less number of applications as compared to electrical conduit systems.

The overall cable trays market is segmented based on product type, material, industry vertical and geography. Based on the product type, the ladder type cable trays segment lead the market. In 2017, the segment contributed to more than 60% of the total market value generated worldwide. Ladder type cable trays are among the most suitable and cost effective cable trays having application across nearly all the applications. Further, based on the geography, North America leads the overall market, closely followed by Europe. Asia Pacific is set to register the fastest growth rate in the market during the forecast period.

Cable trays market is fragmented in nature with presence of numerous regional as well as international players. Market players face remarkable challenges posed by fluctuating raw material prices, price pressure and complying with regulatory standards. Some of the major companies profiled in the report include Atkore International, Inc. (Allied Tube & Conduit), Chatsworth Products, Inc., Cooper Industries (Eaton Corporation), Hubbell, Inc., Chalfant Manufacturing Company, Legrand SA, Marco Cable Management, Oglaend System Group, Panduit Corporation, Schneider Electric SE, TE Connectivity Ltd., Thomas and Betts Corporation and others.

You can get the sample copy of this research by Credence Research here: https://www.credenceresearch.com/sample-request/59362

Report Scope by Segments

By Product Type Segment

Ladder Type Cable Trays
Solid Bottom Cable Trays
Trough Cable Trays
Channel Cable Trays
Wire Mesh Cable Trays
Single Rail Cable Trays

By Material Segment

Metallic
Galvanized Steel
Aluminum
Stainless Steel
Non-metallic

By Industry Vertical Segment

IT & Telecommunication
Public Infrastructure
Industrial Manufacturing
Energy & Utilities
Oil & Gas
Commercial Construction
Residential Construction
Others (Marine, Healthcare, Education etc.)

By Geography Segment

North America (U.S., Rest of North America)
Europe (U.K., Germany, France, Rest of Europe)
Asia Pacific (China, Japan, India,Rest of Asia Pacific)
Rest of the World (Middle East & Africa, Latin America)

Blog Medium: https://medium.com/@kumarganeshtr/cable-trays-market-global-industry-size-share-growth-trends-analysis-and-forecast-2018-to-2026-7f12bd11469b