Albany, New York: Cable management refers to the installation of cable management products in order to secure cables for electrical services or data communication in an organization, building, vehicle, and industry. The term is used for workmanship or products. The global cable management system market was valued at US$ 7,190.2 Mn in 2013 and is forecast to grow at a CAGR of 11.8% from 2014 to 2020. Proper cable management infrastructure helps in troubleshooting the problems in cable systems more easily, and enables better maintenance by providing enhanced support during the installation process. Cable management provides end users with benefits such as saving on labor and cost, increased adaptability, enhanced safety, and low maintenance.
Increase in global energy demand coupled with accelerating bandwidth requirements is propelling the need for flexible, agile, scalable and efficient infrastructures. Thus, significant growth in construction industry in BRICS economies coupled with a number of ongoing and planned major infrastructure development projects in MENA region are driving the market for cable management systems. In addition, renewal and upgradation of existing networks in mature economies is further bolstering the growth of global cable management system market. The global cable management system market is expected to reach a market size of US$ 15,609.1 Mn by 2020. However, high fragmentation in the cable management system market with the presence of large number of players at regional level and volatility in raw material prices hinders the growth of the market. Some of the key vendors profiled in this report include Chatsworth Product, Inc., Thomas & Betts Corporation (ABB Group), Legrand SA, Schneider Electric SE, Cope (Atkore International Holdings Ltd.), Cooper Wiring Devices (Eaton Corporation), Voestalpine Metsec plc (Voestalpine Group), and Allied Tube & Conduit (Atkore International Holdings Ltd.) among others. The significant opportunity for the key vendors lies in identifying and performing self-financed acquisitions of small- and medium-sized companies.
With technology constantly evolving, electrical, communication, and distribution systems must be upgraded to accommodate low- and high-voltage cabling, while maintaining the additional capacity to incorporate emerging technologies. Thus, cable management systems provide end users with more capacity, easier installation, and reduced labor. In addition, the up-gradation of power grids in developing economies in the BRICS nations is the prime factor responsible for the growth of cable management systems market. The increasing demand for electricity is forcing the governments in these regions to invest heavily to upgrade the existing power grids. This has led to the use of cable connectors, for instance, to efficiently transfer electrical energy. These connectors also ensure full tapping of power and uninterrupted electrical supply. Therefore, in the power delivery chain, efficient cable connectors enable smooth functioning of power units, thereby, adding to the growth of this market. The increasing demand for high-end consumer electronic products is another factor fuelling the growth of cable management system market.
The significant growth in healthcare facilities such as hospitals/clinics (public, private, standalone), medical outlets, and research labs, globally, is bolstering the cable management system market. These facilities require state-of-the-art infrastructure, and must meet all the standard norms and regulations. Thus, factors such as hassle-free installation and low maintenance of cable management products prove to be the driving factors for the installation of significant components of cable management systems across such facilities and other critical infrastructures.
North America led the global cable management systems market in 2013, accounting for over one-fourth of the global market revenue share. This is owing to the significant infrastructure and construction development in the region. Further, rapid industrialization and setting up of manufacturing plants across regions such as APAC and RoW, mainly due to the availability of cheap and abundant labor is propelling the usage of cable management systems in these regions. Also, the significant growth in IT & telecom sectors across Asia Pacific and RoW region is fueling the cable management market.