Cable Management Accessories Market

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Market Overview

• Cable management accessories are physical systems
  that help to minimize planning process by
  adequately maintaining documented physical
  networks. These accessories are crucial in the
  majority of industrial applications to avoid
  financial losses and ensure high productivity.
  Company owners, especially from manufacturing
  domain, invest significantly in high-end cable
  management systems to maintain efficient
  electrical services in organizations. By
  reassessing surplus items, cable management
  accessories aid in improving lifecycle of data
  assets of telecommunications. Moreover, these
  systems manage telecommunication inventory to
  provide organizational efficiency. Cable
  management accessories also provide enhanced
  performance, functional flexibility, and safety.
  Moreover, these accessories help to avoid
  business damages. Manufacturers in the market are
  introducing novel accessories with lightweight
  yet durable materials, especially for the
  aerospace industry.

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• The Global Cable Management Accessories Market,
  By Product Type (Cable Lung, Cable Marker and
  Heat Shrink Tube), By End User (IT and Telecom,
  Manufacturing, Energy Utility, Health Care,
  Logistics and Transportation (Railways  and
  Other), Mining, Oil Gas, Construction,(Residenti
  al and Commercial)) and by Region (North America,
  Latin America, Europe, APAC and Middle East
  Africa) - Global Forecast to 2027, is expected
  to be valued at US 2889.0 million by 2027,
  exhibiting a CAGR of 7.9 during the forecast
  period (2019-2027), as highlighted in a report
  published by Coherent Market Insights.

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Market Dynamics- Drivers

• High demand for energy and constant investments
  in infrastructure are expected to drive growth of
  the global cable management accessories market
  during the forecast period
• The global infrastructure industry has witnessed
  significant investment in the recent past. Global
  energy infrastructure and public sector
  infrastructures such as railways, roads,
  airports, and communication networks need to be
  expanded and replaced. Increasing electricity
  consumption in emerging economies such as India,
  China, Brazil, and Russia is the major driving
  factor. According to Coherent Market Insights
  analysis, the electricity access percentage in
  2010 for China, India, Brazil, and Russia was
  99.7, 75.0, 98.9, and 100.0 respectively.
  Furthermore, according to the U.S. Energy
  Information Administration, the global energy
  consumption in 2010 stood at around 500
  quadrillion British units and is expected to
  register a CAGR of 2.17 to reach 620 quadrillion
  British units by 2020. Moreover, cable lugs are
  mainly indicated for electricity distribution or
  industrial networks where they can be subjected
  to short-circuit of relatively high intensity and
  long duration. Therefore, these factors are
  expected to drive the market growth over the
  forecast period.

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• Renewal and replacement of existing networks in
  mature economies is expected to propel the global
  cable management accessories market growth over
  the forecast period
• In majority of developed countries, electrical
  grid infrastructure is reaching its end of
  service lifespan, after strong investments that
  were made in the sector in the 1970s. The average
  life span of a transformer ranges from 25 to 30
  years. The aging equipment is not suitable for
  environmental and technical requirements of the
  modern generation. Hence, there is a constant
  demand for efficient and more compatible
  infrastructure, in order to lessen the impact of
  pollution on the environment. Moreover,
  governments in many countries are focused on
  extending the lifespan of transformer to past
  current average of 20 years. However, there is a
  strong requirement to replace pre-existing
  equipment and infrastructure with more suitable
  and efficient units. Hence, the renewal and
  replacement of existing infrastructure are
  expected to boost the global cable management
  accessories market growth in the near future.

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• North America region dominated the global cable
  management accessories market in 2019, accounting
  for 30.7 share in terms of value, followed by
  Europe and Asia-Pacific, respectively

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Market Dynamics- Restraints

• Price volatility of raw materials is expected to
  hamper the global cable management accessories
  market growth during the forecast period
• Some of the major materials used in manufacturing
  of cable management accessories are steel,
  copper, aluminum, plastics, and others. In the
  recent past, the prices of some of these
  materials such as plastic and steel have been
  volatile and unpredictable. Such volatility in
  prices makes cable manufacturers continue
  production at optimum prices. These manufacturers
  are reluctant to compromise their profit margins
  below a certain limit, which in turn, increases
  the prices of the end products. Thus, these
  factors are expected to hamper the market growth
  over the forecast period.

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• High fragmented market at regional level is
  expected to restrain growth of the global cable
  management accessories market over the forecast
  period
• The presence of a large number of local players
  in the market poses major threat to major market
  players, as high fragmentation indicates easy
  entry for new market players. Furthermore,
  regulatory policies for manufacturing of these
  products vary with each region and buying pattern
  of the local customers. Therefore, these factors
  are expected to restrain the global cable
  management accessories market growth in the near
  future.

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Market Opportunities

• Evolution of non-metallic lug insulators is
  expected to present lucrative growth
  opportunities over the forecast period
• Since the machine reliability increased
  enormously, cable management has become an
  important aspect within an organization. The
  non-metallic insulators have proven to be a
  significant initiative in the cable lug and
  marker market for enhancing the market growth.
  Moreover, the insulators protect the terminal
  connections from accidental shorts. Various
  material options facilitate manufacturers to
  design accessories suitable for high-temperature
  environments. These lug insulators can be used
  for alternators, starters, generators, and other
  devices

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• High demand in aerospace industry can provide
  major business opportunities
• Manufacturers in the global cable management
  accessories market can leverage new opportunities
  in the aerospace industry. There is a high demand
  for weight-reducing materials in the aerospace
  industry, where manufacturers can focus on
  prodding lightweight cable management accessories
  with customized and precision parts that cater to
  the specific needs of engineers in the industry.

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• Infographics Image opportunities in the form of
  infographics

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Market Trends

• Traditional cable management system
• IT industry requires frequent addition/
  removal/movement of data cables throughout the
  period of cable installation. The traditional
  method involves installment of fixed cables
  between cabling cabinets and closets. However,
  this results in entangling of cables or cable
  spaghetti. This, in turn, results in increased
  failures and breakdown in systems. However,
  advent of fiber-optic coaxial cables has led to
  rapid digitization in all fields worldwide. Thus,
  cable lugs and markers are increasingly being
  used in order to cope with rapidly evolving
  technologies.

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• Rapid evolution of information technology
• High growth in information technology sector and
  growing dependence on institutions and businesses
  that utilize high-performance cabling on IT are
  the major factors influencing growth of the
  market. The rapid developments in the
  communication technology indicate very fewer
  signs of slowing down in the near future. As a
  result of this, there is a high demand for
  markers for data/communication applications.
  Thus, cable management accessories manufacturers
  have been developing new products and systems
  that can adapt to these varying demands.

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Competitive Section

• Key players operating in the global 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.

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Key Developments

• Major companies in the market are focused on
  business expansion, in order to enhance the
  market presence. For instance, in August 2019,
  Legrand India, a subsidiary of Legrand SA,
  inaugurated its first experience center to
  showcase all Legrand products under one roof in
  Dehradun, India.
• Key players in the market are focused on
  partnership expansion, in order to enhance the
  market presence. For instance, in January 2017,
  Panduit Corp and General Cable extended their
  partnership to expand PanGen Fiber System
  Solution.

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