Cable Tray Market Size Expected to Reach USD 5.46 Billion by 2026 | Advancements in IT & Telecom Sector to Provide Several Growth Opportunities

According to Fortune Business Insights, the global cable tray market size is projected to grow from USD 2.75 Billion in 2018 to USD 5.46 Billion in 2026 at CAGR of 9.06% during forecast period.

Pune, India, May 23, 2023 (GLOBE NEWSWIRE) — The global cable trays market is likely to derive growth from the growing power needs and increasing number of sub-stations across the world. According to a report published by Fortune Business Insights, titled “ Cable Tray Market Size, Share & Industry Analysis, By Type (Ladder, Solid Bottom, Trough, Channel, Wire Mesh, Single Rail), By End-User (Power, Construction, Manufacturing, IT & Telecom, Others), By Material (Steel, Aluminium, Stainless Steel), and Regional Forecast, 2019-2026,” the market was valued at USD 2.75 Billion in 2018 is projected to reach USD 5.46 Billion by 2026, exhibiting a CAGR of 9.06% during the forecast period.

Cable Tray Market Report Key Insights:

Cable Tray market research report provides you comprehensive and insightful information about Cable Tray industry. This report is a valuable tool for businesses, investors, and decision-makers to understand market dynamics, assess opportunities, and make informed strategic decisions.

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This reports provides you overview of the report’s key findings, conclusions, and recommendations, presented in a concise and clear manner. Background information about the market or industry analysis, including its size, growth rate, major players, and key trends. Report also provides analysis of the market’s current state, including its historical performance, current market size, and projected growth prospects.

Market Segmentation: Identification and analysis of different market segments based on factors such as demographics, consumer behavior, or product/service types.

Competitive Analysis: Assessment of the competitive landscape, including an analysis of key competitors, their market share, strengths, weaknesses, and strategies.

Market Trends: Identification and analysis of significant market trends, emerging technologies, regulatory changes, and other factors that could impact the market’s future.

SWOT Analysis: Evaluation of the market’s strengths, weaknesses, opportunities, and threats, highlighting key areas of advantage or vulnerability.

Market Forecasts: Future projections and estimations regarding the market’s growth potential, including revenue forecasts, market size, and growth rate.

Recommendations: Actionable insights and recommendations for businesses based on the research findings, aimed at maximizing opportunities and mitigating risks.

Key Industry Development:

In June 2019-Øglænd System received accreditation for its SPB cable trays offerings by the DNV-GL. The approval complements the product range to adapt to various specific requirements. The certification allows the company to extend its trays with aluminum, stainless steel, and hot-dip galvanized finishes with heights ranging between 20 mm to 100 mm.

Market Growth Drivers:

IT and Telecom Sector to Exhibit High Growth Rate

The rising global population has led to a subsequent increase in the demand for basic necessities. As a result, industries and manufacturing units are being set up across the world. The growing industrialization, combined with the increasing number of IT and communication centres and corporate offices, will set the platform for a widespread adoption for cable tray market across the world. Cable tray allows safe transportation of wires that are used to transmit electricity. Besides power transmission, cable trays can be helpful in cases of overvoltage and overcurrent. Cable trays will help minimize the exposure to open wires, thereby reducing risks and injuries associated with open wire contacts. Such exceptional properties of cable trays will lead to a rising adoption for the product across the world, which in turn will favor the growth of the global cable trays market in the coming years.

The increasing need for power utilities has, in turn, created the need for power cables and other products associated with sub-stations. Growing power needs will provide several growth opportunities for the cable trays market. Increasing investment in power substations will help these companies generate substantial cable trays market revenue. Additionally, the increasing need for technological facilities and data centres to enable enhanced virtual support will aid the growth of the IT and telecom segment.

COVID-19 Impact:

This market is expected to be negatively affected by the COVID-19 pandemic because of the halt on production and manufacturing activities. The sudden spike in COVID-19 patients led to the imposition of stringent lockdown regulations, which, in turn, led to supply chain disruptions. However, effective sanitization and reduced capacities enabled manufacturers to boost their productivity and recover losses. These factors are likely to foster market growth during the pandemic.

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Report Coverage:

The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market’s key players.

Segmentation Analysis:

Aluminium Segment to Account for a Dominating Cable Trays Market Share

Among the product types, Fortune Business Insights labels the aluminium type as the segment that holds a dominating share of the global cable trays market. The properties of aluminium such as enhanced load bearing capacity and a high strength to weight ratio has led to a rising adoption for the product across the world. Additionally, the low maintenance cost associated with aluminium will contribute to the growing adoption of the product. Due to the aforementioned factors, the aluminium segment is likely to exhibit a high CAGR in the forecast period.

Regional Insights:

Geographically, the global cable tray market has been analyzed across five major regions, which are North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America. The presence of giant technology companies like Google, Yahoo, Facebook, and others along with stringent organizational policies for safe monitoring and operations of workplaces will favor the North America industry outlook. U.S. and Canada are the main countries functioning in the region.

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A List of Key Manufacturers Operating in the Global Market:

• ABB
• Schneider Electric
• Eaton
• Hubbell Incorporated
• MP Husky Cable Tray & Cable Bus
• Atkore International
• Chalfant Manufacturing Co.- OBO Bettermann Group
• Legrand
• Basor Electric SA
• MonoSystems
• Snake Tray
• WIREMAID USA
• Øglænd System Group
• WBT – PERFORMANCE CABLETRAY
• Techline Mfg.
• Chatsworth Products
• Panduit
• Niedax Group

Cable Tray Market Segmentation:

By Type:

• Ladder
• Solid Bottom
• Trough
• Channel
• Wire Mesh
• Single Rail

By Material:

• Steel
• Aluminum
• Stainless Steel

By End-User:

• Power
• Construction
• Manufacturing
• IT & Telecom
• Others

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Table of Content:

1.       Introduction

1.1.    Research Scope

1.2.    Market Segmentation

1.3.    Research Methodology

1.4.    Definitions and Assumptions

2.       Executive Summary

3.       Market Dynamics

3.1.    Market Drivers

3.2.    Market Restraints

3.3.    Market Opportunities

4.       Key Insights

4.1.    Key Emerging Trends – For Major Countries

4.2.    Latest Technological Advancement

4.3.    Regulatory Landscape

4.4.    Industry SWOT Analysis

4.5.    Porters Five Forces Analysis

5.       Global Cable Tray Market Analysis, Insights and Forecast, 2015-2026

5.1.    Key Findings / Summary

5.2.    Market Analysis, Insights, and Forecast – By Material (USD Billion)

5.2.1.  Steel
5.2.2.  Aluminium
5.2.3.  Stainless Steel
5.3.    Market Analysis, Insights, and Forecast – By Type (USD Billion)

5.3.1.  Ladder
5.3.1.1.  Swaged Ladder
5.3.1.2.  Welded Ladder
5.3.2.  Solid Bottom
5.3.3.  Trough
5.3.4.  Channel
5.3.5.  Wire Mesh
5.3.6.  Single Rail
5.4.    Market Analysis, Insights and Forecast – By End-User (USD Billion)

5.4.1.  Power
5.4.2.  Construction
5.4.3.  Manufacturing
5.4.4.  IT & Telecom
5.4.5.  Others
5.5.    Market Analysis, Insights and Forecast – By Region (USD Billion)

5.5.1.  North America
5.5.2.  Europe
5.5.3.  Asia Pacific
5.5.4.  Middle East & Africa
5.5.5.  Latin America

Continued….

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