USD 4.18 Billion
Cable Tray Market Size, Share, Growth Analysis, By Type(Ladder Type Cable Trays, Solid Bottom Cable Trays, Trough Cable Trays, Channel Cable Trays), By Material(Aluminium, Steel, Stainless Steel, Others), By Finishing(Galvanized Coatings, Pre-galvanized, Hot-dip Galvanized, and Others), By Application(Power, Construction, Manufacturing, IT & Telecommunication), By End User(Power, Construction, Manufacturing, IT & Telecommunication), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG25A2230 |
Region:
Global |
Published Date: April, 2024
Pages:
220
|Tables:
125
|Figures:
75
Cable Tray Market Insights
Global Cable Tray Market size was valued at USD 4.18 Billion in 2022 and is poised to grow from USD 4.52 Billion in 2023 to USD 8.49 Billion by 2031, growing at a CAGR of 8.2% in the forecast period (2024-2031).
Global cable tray market growth is driven by increasing demand from manufacturing industries, which in turn drives rapid urbanization in emerging economies. The open economy or mixed economy adopted by the government has boosted the private sector, creating more jobs and employment opportunities in developing countries. This has led to rapid urbanization in these countries. Cable trays are used in commercial and industrial construction to hold complex cable systems. For example, according to the UN World Urbanization Prospects 2018, 55% of the world’s population currently lives in cities, and this is expected to increase to 68% by 2050. The world’s population growth could add another 2.5 billion people cities of the country. It occurs in the Pacific Ocean.
Furthermore, rising energy consumption and growing electronics and telecommunications industry are expected to boost the global cable tray market.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Aluminum
Fastest Growth
Stainless Steel
Growth Rate
8.2% CAGR
Global Cable Tray Market ($ Bn)
Country Share for North America Region (%)
To get more reports on the above market click here to Buy The Report
Cable Tray Market Segmental Analysis
Global Cable Tray Market is segmented by type, material, finishing, end user and region. Based on type, the market can be segmented into Ladder Type Cable Trays, Solid Bottom Cable Trays, Trough Cable Trays, Channel Cable Trays, and Others. Based on material, the market is segmented into Aluminium, Steel, Stainless Steel, and Others. Based on finishing, the market is segmented into Galvanized Coatings, Pre-galvanized, Hot-dip Galvanized, and Others. Based on end user, the market is segmented into Power, Construction, Manufacturing, IT & Telecommunication, and Others. Based on region, the market is segmented into North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.
Analysis by Material
The aluminum segment dominated the global cable tray market. Aluminum’s corrosion resistance and ductility make it valuable in the industry. There is a huge demand for aluminum in the manufacturing industry, especially in developing countries. Because of its many advantages, aluminum is a lightweight and durable metal commonly used for cable trays. For cable trays, cable management systems are made of aluminum.
Stainless steel segment is expected to grow at a significant CAGR, offering distinct advantages, catering to different needs and applications in the industry. Stainless steel cable trays are highly corrosion resistant, making them ideal for harsh environments such as chemical plants, beachside platforms and industrial areas where corrosive materials are high. Their corrosion resistance makes them durable and durable, reducing maintenance costs and the need for frequent replacement. Stainless steel cables are known for their high strength and durability. They can stand heavy loads and intense prepare-galvanized cable trays provide a cost-effective solution for cable management compared to stainless steel trays. The galvanizing process includes coating the steel with zinc, which provides cost-effective corrosion resistance.
Analysis by Finishing
The galvanized coatings segment accounted for the largest cable tray market share and is expected to maintain its dominance over the forecast period. Advances in galvanizing processes and technologies enhance coatings performance and durability. Innovation focuses on achieving better adhesion, uniformity and thickness of the zinc layer to improve corrosion resistance and extend product life.
Pre-galvanized cable trays provide a cost-effective solution for cable management compared to stainless steel trays. The galvanizing process includes coating the steel with zinc, which provides cost-effective corrosion resistance. These trays are suitable for applications where corrosion resistance is essential, but budget is the main consideration. Pre-galvanized cable trays provide moderate corrosion resistance, making them suitable for indoor environments and outdoor applications with less sensitivity to corrosive elements. They are commonly used in commercial buildings, data centers and infrastructure projects where the risk of damage is minimal.
Global Cable Tray Market By Material (%)
To get detailed analysis on other segments, Request For Free Sample Report
Cable Tray Market Regional Insights
North America dominated the global due to increased demand from the IT and telecommunication sectors. The growing trend in renewable energy is also contributing to the growing market in North America. The Middle East & Africa region is expected to grow significantly during the forecast period. As the region's population grows and the economy grows, the demand for energy infrastructure such as power plants, substations and transmission lines will increase, and thus the demand is expected to increase in the coming years.
Asia-Pacific accounted for the largest share of the global cable tray market and is expected to be the fastest growing region in coming years. This is due to factors such as the construction boom in the region. Increasing investment in construction and infrastructure in developing countries such as China, India and Southeast Asia is increasing the need for cable management systems.
Global Cable Tray Market By Geography
- Largest
- Fastest
To know more about the market opportunities by region and country, click here to
Buy The Complete Report
Cable Tray Market Dynamics
Drivers
Developments in the Construction Industry to Increase Cable Tray Demand
- The construction industry has expanded rapidly, especially in emerging economies such as China, Brazil and India. Population growth, urbanization and rising disposable income have stimulated construction activity. These are infrastructure such as roads, new construction, bridges, and so on. Increased construction activity increases the demand for transmission power. These trays are key components to these wiring systems, making them an integral part of any construction project.
Growing Demand for Renewable Energy to Drive Market Growth
- Growing demand for renewable energy sources such as hydropower, wind power and solar power has been one of the major drivers of energy demand. Renewable energy requires composite grids to move electricity from source to grid. Cable trays provide a well-maintained means of insulating these wiring systems, ensuring the smooth functioning of transmitted power. In recent years, there has been a remarkable shift towards renewable energy as the world deals with the impacts of climate change. Countries worldwide are developing policies and regulations that encourage sustainable energy use to reduce carbon emissions. In addition, renewable energy is often installed in remote and harsh environments such as desert solar power plants, offshore wind turbines, etc. When these trays are used in dwelling land thus protecting wiring systems, reducing the risk of system shutdowns and power outages
Restraints
High Cost of Cable Tray System Installation and Acquisition of New Products
- Cable tray installation requires installation equipment, skilled labor, precise measurements, special installation techniques and more. Installing such systems requires additional components such as wrist straps, body mounts, wall mounts, fasteners, and supports, increasing the system's overall cost. In addition, the installation of nuclear plants, construction sites and large projects requires specific time, equipment and personnel, and can slow down construction processes and incur additional system costs. Furthermore, the modification and maintenance of such systems as well can be cost-effective, testing the entire system can be done in many ways. Tracking and detecting damaged cables is a major problem, including cable trays, can provide the time needed to reinstall has grown, hindering the growth of the market.
Adapted Standards and Compliance Requirements
- Standards and regulations for cable tray design are constantly evolving, driven by technological advances, safety concerns, and environmental considerations. Continuous awareness of these changes and ensuring compliance with today’s requirements can be a challenge for stakeholders throughout the supply chain. Failure to adhere to the latest standards may result in non-compliance penalties, recalls, or defamation.
Legal Division and Complexity
- Cable tray systems in different regions and markets worldwide are subject to various codes, standards and building codes. These standards are usually developed and implemented by regulatory bodies, creating a complex environment for developers, installers, and end users to navigate. This separation complicates compliance efforts and can lead to inconsistencies between product specifications and placement.
Request Free Customization of this report to help us to meet your business objectives.
Cable Tray Market Competitive Landscape
The competitive environment of the Global Cable Tray Market is dynamic and characterized by the presence of a mix of well-established brands, emerging players, and niche producers. Innovation is a key competitive factor. Established organizations within the industry leverage techniques inclusive of product innovation, strategic partnerships, and mergers and acquisitions to strengthen their market position. Additionally, the market is witnessing elevated opposition from local and neighborhood producers supplying cost-powerful options.
Top Player’s Company Profiles
- ABB
- Atkore International
- Schneider Electric
- Chalfant
- Basor Electric SA
- MP Husky
- Oglaend System Group
- SnakeTray
- TechLine Mfg.
- Eaton Corporation
- Panduit Corp
- Chatsworth Products, Inc.
- Niedax Group
- WIREMAID USA
- Vantrunk
- Enduro Composites Inc.
- Legrand
- Hubbell incorporated
Recent Developments
- In February 2023, Eastern Railway’s Howrah Power Division issued a tender for installation of a 2.2 MW on-grid solar roof. The tender is also for the design and supply of an on-grid connected solar PV plant without battery backup, consisting of mono/polycrystalline silicon solar cells connected in series, fire-resistant DC cables, suitable cable trays. Through and filled with fireproof AC cables.
- In August 2023, Snake Tray launched the Snake Tray 801 Series Mega Snake Cable Tray which is superior to all other wire basket trays. It is stronger than steel ladders but is infinitely more versatile and greatly reduces installation costs.
- In May 2022, Atkore Inc. acquired the assets of Talon Products, LLC. It is a supplier of stainless steel, injection-molded cable cleats for use in power distribution.
Cable Tray Key Market Trends
- Rapid Growth in the Use of Digital Technologies: The rapid growth of digital technologies may further drive the need for more digital infrastructure, such as data centers and advanced warehouse and distribution centers to support e-commerce. Factors such as steel framing and racking structures are needed, power cables & cable management such as cable trays. Primary applications include renovated and new buildings, electrical system upgrades, utilities, warehouses, data centers, and for connecting electric vehicle charging stations to electricity the energy grid. For example, in January 2023, India’s Maharashtra government announced at the World Economic Forum in Davos, Switzerland, that it had signed agreements with two companies to build two data centers in Pune at a cost of $3.9 billion.
Cable Tray Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
Increasing emphasis on sustainability and energy efficiency is impacting the manufacturing process in the global cable tray market. Manufacturers are introducing eco-friendly products and systems to meet the growing demand for green construction solutions to reduce environmental impact. The challenges in the cable tray market include price pressures, fluctuating raw material costs, competition from other cable management solutions such as conduit and raceway etc. Manufacturers focus on developing innovative cable trace solutions, including cable ladders, cable narrows, wire mesh and solid floor trays, to meet evolving customer needs for efficient cable management and installation role.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 4.18 Billion |
| Market size value in 2031 | USD 8.49 Billion |
| Growth Rate | 8.2% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
To get a free trial access to our platform which is a one stop solution for all your data requirements for quicker decision making. This platform allows you to compare markets, competitors who are prominent in the market, and mega trends that are influencing the dynamics in the market. Also, get access to detailed SkyQuest exclusive matrix.
Buy The Complete Report to read the analyzed strategies adopted by the top vendors either to retain or gain market share
Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Cable Tray Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Cable Tray Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Cable Tray Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Cable Tray Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Cable Tray Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Cable Tray Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
Cable Tray Market Report Snapshots
Want to customize this report?
Our industry expert will work with you to provide you with customized data in a short amount of time.
REQUEST FREE CUSTOMIZATION
USA (+1) 351-333-4748
