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Cable Tray Market Trends

Report ID: GMI5854
Published Date: May 2023
Report Format: PDF

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Cable Tray Market Trends

The rapid industrialization & urbanization of emerging nations is driving the demand for cable trays due to the necessity of these systems in the effective distribution of power & control cables. Construction & infrastructure development is expanding rapidly in the emerging markets, which is increasing the demand for cable trays. Another major factor driving the global market growth is the increased demand for dependable power distribution systems. Cable trays are used to support & protect cables, thereby reducing the risks of damage and power outages. Furthermore, they provide effective cable routing, which can reduce installation & maintenance costs. The rising number of renewable energy installations is driving the demand for cable trays.

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

Global market size for cable tray exceeded USD 2.5 billion in 2022 and is anticipated to record significant growth at over 5% CAGR from 2023 to 2032 owing to the high demand for supporting equipment in electrical signals, power & instrumentation control, and communication cables in various industries.

The ladder cable trays segment generated more than USD 1 billion in revenue in 2022 and is estimated to record robust growth through 2032 attributed to their increasing deployment for applications that require the routing of multiple cables due to their high cable capacity.

Asia Pacific held over 30% revenue share in the global cable tray industry share in 2022 and is poised to depict lucrative growth driven by increasing construction activities and the booming IT & telecommunications industry.

ABB, Atkore International, Schneider Electric, Chalfant, Basor Electric SA, MP Husky, Oglaend System Group, SnakeTray, TechLine Mfg., Eaton Corporation, Panduit Corp, Chatsworth Products, Inc., Niedax Group, WIREMAID USA, Vantrunk, Enduro Composites Inc., Legrand, and Hubbell incorporated are some of the major firms operating in the market.