by The global Cable Management Accessories Market is estimated to be valued at US$ 2.85 Bn or Billion in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
Cable management accessories refer to devices and components used for organizing and protecting cables and wires. Some common examples include cable ties, cable clips, cable organizers, cable conduits, and cable glands. These accessories help in bundling, routing, and securing cables to enhance safety, aesthetics, and prevent damage. Cable management is an essential element in industries such as IT & telecommunication, transportation, manufacturing, energy & utilities where a large number of cables are used for communication, power transfer, and data transmission purposes. Proper cable management results in efficient system functioning, reduced downtime, maintenance costs, and ensures compliance with industry standards.
Market key trends:
The demand for cable management accessories is expected to grow significantly during the forecast period due to growing data traffic, adoption of fourth industrial revolution technologies such as IoT, AI, and 5G networks. In telecom industry, deployment of 5G networks requires high-density fiber cabling and management which is propelling the need for cable management solutions. Furthermore, rapid urbanization and infrastructure development activities across sectors like roadways, railways, and smart cities will augment the consumption of cable accessories for electrical wiring. Stringent regulatory standards regarding cable safety and protection is another factor bolstering the demand. Manufacturers are focusing on development of eco-friendly and recyclable cable management products. They are also providing value-added solutions integrated with real-time tracking and monitoring capabilities.
Porter’s Analysis
Threat of new entrants: The threat of new entrants is moderate due to the presence of established players and requirement of high investment for manufacturing facilities and distribution network.
Bargaining power of buyers: The bargaining power of buyers is high due to the availability of substitutes and undifferentiated products offered by various manufacturers.
Bargaining power of suppliers: The bargaining power of suppliers is moderate due to availability of substitute raw materials.
Threat of new substitutes: The threat of new substitutes is low as cable management accessories have applications across various industries.
Competitive rivalry: High due to presence of many domestic and international players.
Key Takeaways
The Global Cable Management Accessories Market Size is expected to witness high growth, exhibiting a CAGR of 6.7% over the forecast period, due to increasing demand for fiber optic cables from the IT and telecommunication industry.
The Asia Pacific region is expected to witness the fastest growth in the global cable management accessories market during the forecast period. Rapid infrastructure development and industrialization are the major factors driving the growth of the cable management accessories market in the region.
Key players operating in the Cable Management Accessories market are Partex Marking Systems USA, Cooper Wiring Devices, Schneider Electric SE, Chatsworth Products, Legrand SA, Weidmuller Interface GmbH & Co. KG, Thomas & Betts Corporation, Anixter Inc., HellermannTyton Group PLC, Panduit Corp., TE Connectivity Ltd., Cembre SpA, Klauke GmbH, and CableOrganizer.com LLC.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc.
