June 22, 2024
Cable Management Accessories Market

Rising Infrastructure Development Projects To Boost Growth Of The Cable Management Accessories Market

The Cable Management Accessories Market includes a variety of products such as cable ties, cord grips, cable lacing, cable markers, and others that are used for organizing, identifying and protecting electrical cables and cords. These accessories help in increasing cable lifespan by protecting them from abrasion, moisture, and other environmental threats. They play a vital role in ensuring safety, improved aesthetics, and reliable operation of electrical systems in various industries including IT & telecom, manufacturing, healthcare, energy & utility, and others.

The global Cable Management Accessories Market is estimated to be valued at US$ 2.85 Bn 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 key trends:

One of the key trends in the Cable Management Accessories Market is growing infrastructure development activities across both developing and developed economies. Various countries are investing heavily in infrastructure projects related to transportation, communication networks, power transmission & distribution, and commercial construction. This is resulting in higher demand for cable management accessories from contractors and electricians engaged in infrastructure development. Furthermore, rapid industrialization and urbanization are also fueling the need for effective cable management systems to ensure safety, efficiency and connectivity of various electrical operations. Stringent regulations regarding cable safety and fire protection in industries are further promoting adoption of cable management accessories. Technological advancements offering enhanced features like easier installation and adaptability are also driving the market growth.

Porter’s Analysis

Threat of new entrants: The Global Cable Management Accessories Market Size features modest threat of new entrants due to high manufacturing costs and established players with strong brand presence and distribution capabilities.
Bargaining power of buyers: Buyers have moderate bargaining power due to availability of various product options from different manufacturers.
Bargaining power of suppliers: Suppliers have low to moderate bargaining power due to availability of substitute raw materials and dominance of buyers in the supply chain.
Threat of new substitutes: Threat of new substitutes is low as cable management accessories have well-established applications and no major substitute products available.
Competitive rivalry: Intense competition exists among the established players to increase market share through product launches and innovations.

Key Takeaways

The global cable management accessories market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing investments in network infrastructure development globally. The North America region is expected to dominate the market through the forecast period owing to rapid expansion of telecommunication networks in countries like US and Canada.

The cable management accessories market size was valued at US$ 2.85 Bn in 2023. Regional analysis indicates Asia Pacific as the fastest growing market owing to rising industrial and commercial construction activities in major economies like China and India.

Key players operating in the cable management accessories market are Partex Marking Systems USA, Cooper Wiring Devices (Eaton Corporation), Schneider Electric SE, Chatsworth Products, Inc., 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