by Cable management accessories enable orderly arrangement and routing of cables in overhead cable trays, ladders, and conduits to protect them from damage and enhance aesthetics. They help in smooth transmission of power and signals by preventing entanglement. Some key cable management accessories include cable ties, cable clips, cable hooks, cable straps, cable manager brackets, and zip ties. Rising demand for high bandwidth and seamless internet connectivity from various industries has increased the installation of networking and communication infrastructure which drives the need for effective cable management. The global cable management accessories market is facing significant growth as industries are strengthening their digital transformation initiatives and aggressively building new data centers for cloud computing and big data applications.
The global Cable Management Accessories Market is estimated to be valued at US$ 12.5 billion in 2023 and is expected to exhibit a CAGR of 13% over the forecast period 2023-2033, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the prominent trends driving the cable management accessories market is growing investments in data center infrastructure. Data centers require neat cable routing and organization to ensure smooth operations and prevent cable entanglement issues. Data center operators are increasingly adopting comprehensive cable management systems and accessories to reduce maintenance costs and downtime. For example, in September 2022, Digital Realty, a leading data center provider, announced plans to invest $125 million to build a hyperscale data center campus in Paris, highlighting robust demand. Rapid digitalization and focus on edge computing are compelling several enterprises to either build private data centers or leverage colocation facilities which benefits the cable management accessories market.
Porter’s Analysis
Threat of new entrants: The threat of new players entering the cable management accessories market is moderate due to the presence of established players and requirement of high initial investment.
Bargaining power of buyers: The bargaining power of buyers is high due to availability of substitutes and differentiation in products offered by various players in the market.
Bargaining power of suppliers: The bargaining power of suppliers is moderate as there are many players supplying raw materials required for manufacturing cable management accessories.
Threat of new substitutes: The threat of new substitutes is moderate as cable lacing, straps and wire mesh pose a threat to cable trays and conduits used for cable management.
Competitive rivalry: The competitive rivalry in the cable management accessories market is high due to presence of numerous regional and global players offering differentiated products.
Key Takeaways
The Global Cable Management Accessories Market Size is expected to witness high growth.
Regional analysis: The Asia Pacific region dominates the global cable management accessories market. China holds the largest market share in the region owing to rising industrial and construction activities in the country.other asian countries such as India, Japan, South Korea are also witnessing rapid growth in cable management accessories market due to rapid industrialization.
Key players operating in the cable management accessories market are Legrand SA, Eaton Corporation, ABB, Schneider Electric, HellermannTyton, TE Connectivity, Chatsworth Products, nVent, Panduit, and Hubbell. Legrand SA and Eaton Corporation are acknowledged as the market leaders.
