According to a new market research report published by Credence Research “Cable Trays Market (Product Type – Ladder Type, Solid Bottom, Trough, Channel, Wire Mesh and Single Rail; Material – Metallic and Non-metallic; Industry Verticals – IT & Telecom, Public Infrastructure, Industrial Manufacturing, Energy & Utilities, Oil & Gas, Commercial, Residential and Others (Marine, Healthcare, Education etc.)) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the worldwide market for cable trays was valued at US$ 2,956.9 million in 2017 and is set to show constant CAGR during the forecast period from 2018 to 2026.
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Cable trays have increased preference for wiring systems owing to their superior benefits over standard electrical conduit systems. In comparison to electrical conduits, cable trays deliver greater safety, reliability, increased space usage and reduced costs. In addition, they are comparatively easier to install and give increased flexibility. The market is strongly influenced by the ever-increasing acceptance of cable trays over other wiring methods. Over the years, cable tray suppliers have implemented a broad range of products, allowing them to penetrate a broad range of apps. As a result, the accessibility of a broad spectrum of products plays a vital role in the implementation of cable trays across separate building apps.
Another key driver of market growth is the ever-increasing construction industry globally. The industrial and commercial building industry in the U.S., India and China has shown a good post-economic slowdown in development. 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.
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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.
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By Product Type Segment (2016–2026; US$ Mn)
- 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 (2016–2026; US$ Mn)
- Galvanized Steel
- Stainless Steel
By Industry Vertical Segment (2016–2026; US$ Mn)
- IT & Telecommunication
- Public Infrastructure
- Industrial Manufacturing
- Energy & Utilities
- Oil & Gas
- Commercial Construction
- Residential Construction
- Others (Marine, Healthcare, Education etc.)
By Geography Segment (2016–2026; US$ Mn)
- North America
- Asia Pacific (APAC)
- Middle East & Africa (MEA)
- Latin America