Global Cable Tray Market: About this market This cable tray market analysis considers sales from commercial, industrial, and residential end-users. Our analysis also considers the sales of cable tray in APAC, Europe, North America, South America, and MEA.
New York, Aug. 26, 2020 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Cable Tray Market by End-users and Geography - Global Forecast and Analysis 2019-2023" - https://www.reportlinker.com/p05821780/?utm_source=GNW
In 2018, the commercial segment had a significant market share, and this trend is expected to continue over the forecast period. Factors such as the development of galvanized cable trays will play a significant role in the commercial segment to maintain its market position. Also, our global cable tray market report looks at factors such as the increasing adoption of automation and communication technologies, stringent standards for cable trays, increased investments in data centers, and the increasing number of smart grid projects. However, fluctuations in raw material prices, shift toward wireless communications, and slowdown in manufacturing output may hamper the growth of the cable tray industry over the forecast period.
Global Cable Tray Market: Overview
Increasing adoption of communication and automation technologies
Rising penetration of automation and robotics in the industrial sector has augmented the deployment of electrical equipment including associated wire and communication cables. Most automated solutions such as industrial control systems need to be connected to diverse industrial field instruments by power and communication cables. Therefore, the deployment of effective cable management systems including the cable trays has been gaining momentum which will lead to the expansion of the global cable tray market at a CAGR of almost 9% during the forecast period.
Increasing focus on high-speed network connectivity
Cellular communication technologies are gaining prominence not only for data transfer but also for communication and other applications. Similarly, the advent of 5G telecommunication technology has addressed various drawbacks of mobile connectivity issues for IoT devices and enabled high bandwidth and low-latency communication. This is further expected to increase the deployment of cellular base stations in urban, rural, and suburban areas. These base stations are eventually expected to deploy cable tray systems to structure the cables traversing in the base stations. This demand is expected to have a positive impact on the overall market growth.
With the presence of several major players, the global cable tray market is highly fragmented. This robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading cable tray manufacturers, that include ABB Ltd., Atkore International Group Inc., Chatsworth Products Inc., Eaton Corp. Plc, Hubbell Inc., Legrand SA, OBO BETTERMANN Holding GmbH & Co. KG, Schneider Electric SE, TransDelta International Industries LLC, and voestalpine AG.
Also, the cable tray market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage on all forthcoming growth opportunities.
Read the full report: https://www.reportlinker.com/p05821780/?utm_source=GNW
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