The abrupt occurrence of COVID-19 has created a positive impact on the development of the cable management system market. Increasing adoption of cable management systems in industrial and commercial sectors is predicted to boost the global market in the forecast period. IT and Telecom segment is predicted to have maximum share in the estimated period. North America region is predicted to be the most lucrative segment in the projected timeframe.Pandemic have impacted positively to the cable management system market in the forecast period. Increasing demand of cable management in industrial and commercial sector due to various advantages offered such as flexibility and safety is predicted to boost the global cable management system market in the forecast period.
In addition, increased investment in developing of a robust technological advancement is predicted to be the biggest driving factor for the market in the forecast period. The raw material that are used for manufacturing of these cables are aluminum, rubber, copper and plastic. The lack of availability of these raw material for the manufacturing of cable is predicted to be the biggest restraints for the market in the forecast period. Production innovation with the development of urbanization is predicted to create more growth opportunity for the market. For instance, in June 2020, EllaLink & EMACOM launch the “EllaLink GeoLab” SMART submarine cable initiative. Submarine cable initiative is considered to the first dedicated facility of its kind as part of a telecom submarine cable. During this unpredicted situation, we are helping our clients in understanding the impact of COVID19 on the global social commerce market.
According to a study conducted by Research Dive, the global cable management system market is expected to register a revenue of $32.46 billion by 2027.
The global market is classified on the basis of product type, material, and end-use industry. The report offers the complete information about drivers, opportunities, restraints, segmental analysis and major players of the global market.
Factors Affecting the Market Growth
As per our analyst, increasing demand of cables for the industrial development is predicted to be the major driving factor for the cable management system market in the forecast period. On the other hand fluctuation of the raw material is predicted to be the biggest restraints for the market in the forecast period.
Cable Conduits is Predicted to Grow Enormously
On the basis of product, the cable management system market is further bifurcated into cable trays, cable trunks, cable conduits, boxes, connectors and distribution boards and others. Increasing demand and the installation activities by various sectors such as manufacturing, public infrastructure, oil & gas, healthcare is predicted to drive the segment market in the forecast period.
Metallic Segment is Predicted to Have the Highest Market Share
On the basis of material, the cable management system market is further bifurcated into metallic and non-metallic. Metallic segment is predicted to have the maximum market share in the forecast period. Increasing use of metallic segment in various end use industries is predicted to boost the segment market in the forecast period.
IT & Telecom is Predicted to Have Maximum Growth Rate
On the basis of end use, the cable management system market is further bifurcated into IT & telecom, manufacturing, energy & utilities, healthcare, oil & gas, public infrastructure, commercial, residential and others. IT & Telecom segment is predicted to grow enormously with highest growth rate. Increasing investment in cable management in development of IT and telecom sector is predicted to drive the segment market in the forecast period.
Regional Breakdown of the Market
On the basis of region, the cable management system market is further bifurcated into North America, Asia-Pacific, Europe and LAMEA. North America region market is predicted to have the highest market share in the forecast period. Government initiative with better telecom facilities and increasing customer purchasing power is predicted to boost the region market in the forecast period.
Top Companies Leading the Market
The major key players in the cable management market are Eaton, Prysmian Group, Panduit, Leviton Manufacturing Co., Inc., Atkore International, NEXANS, Chatsworth Products, Schneider Electric, ABB and LEGRAND among others.
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