"Superior Advantages over Electrical Conduits to Ensure Robust Cable Trays Market Growth"

The global cable trays market expected to exhibit robust CAGR during the forecast period from 2021 to 2029, up from US$ 2,956.9 Mn in 2020. Cable trays are rigid cable management products used to transport and support the cables. These are designed to support several types of wiring including high voltage power lines, power distribution cables, optical cables, telecom lines and several others. Cable trays have emerged among the most promising cable management product for wiring system across industrial, commercial and infrastructural applications. This is primarily due to their higher advantages in terms of installation and flexibility of wiring systems. The market is majorly driven by the consistently growing construction industry worldwide. Countries such as the U.S., India and China are expected to emerge among the most promising markets on account of their huge construction industry. Nevertheless, predominant penetration of electrical conduit systems poses major challenge for market growth. Additionally, complying with regulatory standards framed by NEMA, IEC and others is another significant challenge faced by the cable tray manufacturers.

"Ladder Type Cables Trays to Remain the Largest Segment"

Ladder type cable trays are the most popular type of cable trays used across most of the applications. This mainly due to their seamless design, making them suitable for wide range of applications. Ladder type trays are open design raceways that enable easy heat dissipation, thereby enhancing cable life. In addition, due to open design, moisture accumulation is very less in cables laid on ladder type trays. Similarly, ladder type cable trays offered higher flexibility and ease of installation as compared to other types of cable trays. In 2020, the ladder type cable trays segment led the market with more than 60% of the total market value. Considering the suitability of these trays, the segment would continue dominating the market throughout the forecast period.

"Asia Pacific to Emerge as the Fastest Growing Market due to its Rising Construction and Industrial Sectors"

In 2020, North America led the overall cable trays market with more than 1/3rd of the total market revenue generated worldwide. The U.S., having the largest construction industry (industrial, commercial and residential) across the Americas region, governs the regional cable trays market. Europe closely follows North America, in terms of revenue, in the cable trays market. Europe is among the first regions to adopt cable trays on a large scale. Due to more inclination towards using high performance cables, most of the construction sectors prefer using cable trays instead of electrical conduit systems. Asia Pacific is projected to emerge as the fastest growing market for cable trays during the forecast period. Huge industrial and commercial construction sectors in India and China play the most crucial role in regional market growth.

"Large Number of Players to Ensure a Fragmented and Competitive Market"

The global cable trays market varies significantly depending upon the geographical regions. The market in North America and Europe is well organized as well as consolidated in nature. Contrarily, the cable trays market in Asia Pacific and Rest of the World regions is quite unorganized comprising large number of regional manufacturers. Due to low regulated market in Asia Pacific, consumers tend have leaned towards cheaper electrical products. As a result, significant number of regional players have evolved in the region. These manufacturers have least focus towards brand development and focus on manufacturing low cost conduit systems. As opposed to the market scenario in Asia Pacific, North America and Europe have companies trying to specialize in the conduit systems. Companies such as Cooper Industries, Atkore International, Inc. and Thomas & Betts Corporation focus on providing specialized cable trays to their customers.

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., Legrand SA, Marco Cable Management, Chalfant Manufacturing Company, Oglaend System Group, Panduit Corporation, Schneider Electric SE, TE Connectivity Ltd., Thomas and Betts Corporation and others.

Historical & Forecast Period

This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Cable Trays market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Cable Trays market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Cable Trays market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Cable Trays market?
• Which is the largest regional market for Cable Trays market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Cable Trays market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Cable Trays market worldwide?