Cable Management Accessories Market Analysis, Sales Revenue, Production and Expected to Grow at CAGR

Global cable management accessories market is expected to grow from USD 1.74 billion in 2017 to USD 2.5 billion by 2023, at a CAGR of 6.53% during the forecast period.

Cable Management Accessories Market are devices used to secure cables for electric services in a building or premise. Growing investment in renewal and upgradation of energy infrastructure globally, double digit growth in the infrastructure sector in developing nations, and stringent regulation pertaining to cable management in a premise drive the demand for cable management accessories.

Cable management accessories market by type is segregated into cable lug, cable marker, and heat shrink tube. The cable lug segment is estimated to hold the largest market share in 2017 whereas heat shrink tubes are expected to witness the highest CAGR during the forecast period. By end user the market is segmented into telecommunication, automation and IT, manufacturing, utilities, logistics & transportation, construction, and others. The manufacturing end-user segment is expected to dominate the market throughout the forecast period (2018-2023). Stringent government regulations and compliance parameters related to safety and security of cabling done in the manufacturing premises lead to the high demand of cable management accessories by this sector. However, the utilities segment is expected to register the highest CAGR durin g the forecast period owing to cable management requirement across power distribution/generation plants and substations.

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Key players

The prominent players in the cable management accessories market are Schneider Electric SE (France), Legrand S.A. (France), Thomas & Betts Corporation (Switzerland), TE Connectivity Corporation (Switzerland), HellermannTyton Group PLC (UK), Chatsworth Products, Inc. (US), Cooper Wiring Devices (US), Panduit Corporation (US), Gustav Klauke GmbH (Germany), CableOrganizer.com, LLC. (US), Anixter Inc. (US), Weidmüller Interface GmbH & Co. KG (Germany), Partex Marking Systems USA LLC. (US), and Cembre S.p.A. (Italy). Apart from the top key players, the other players contribute nearly 5–10 % in the cable management accessories market.

Segmentation

Cable management accessories market is segmented based on type, end-user, and region.

The type segment cable lug, cable marker, and heat shrink tube

On the basis of end-users, the market is segmented into telecommunication, automation and IT, manufacturing, utilities, logistics & transportation, construction, and others.

By region, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World.

Regional analysis

The global market for cable management accessories is estimated to grow at a significant rate during the forecast period from 2018 to 2023. The geographical analysis of cable management accessories market is done for North America, Europe, Asia-Pacific, and the rest of the world.

North America followed by Europe is expected to dominate the cable management accessories market from 2018 to 2023 as these regions are sustainable and well-established economies. Furthermore, the presence of the leading multinational companies in the region and rapid growth of the logistics & transportation sector further drive the cable management accessories demand in these regions.

Asia-Pacific is estimated to grow at the significant CAGR during the forecast period. The demand for cable management accessories is majorly concentrated in countries such as China and India that are witnessing rapid pace of urbanization and growth in the construction sector.

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Competitive Analysis

The cable management accessories market has witnessed the rising demand from manufacturing sector across the world. Key players to further strenghten their market position have opted for business expansion and product enhancement as their key organic growth strategy. For instance, in November 2018, Legrand India opened their first retail outlet in Kochi which will provide solutions designed throughout the group for the residential, commercial, hospitality and industrial segments.