The global wire and cable management market is projected to reach USD 25.26 Billion by 2023, growing at a CAGR of 8.36%, from 2018 to 2023. This market growth is primarily driven by the growth in the construction sector, need for ease of handling of cables in data centers, growing demand from IT facilities, and investment in other industrial sectors such as power, oil & gas, and mining sector.
Asia Pacific would continue to be the largest market for wire and cable management, followed by North America, during the forecast period. The global market is dominated by major players including Legrand (France), Eaton (Ireland), Panduit (US), Atkore (US), Hellermann Tyton (England), and Obo Bettermann (Germany).
The market growth strategies adopted by the key players in the wire and cable management market include contracts & agreements, new product launches, expansions & investments, mergers & acquisitions, and joint ventures. New product launches were the most commonly adopted strategy by market players from February 2015 to December 2017. Industry players also entered into contracts & agreements in the stated period from 2015 to 2017.
Legrand is one of the leading manufacturers of cable management products and related customized solutions for industrial, commercial, and residential sectors. The company operates through various business segments, namely, user interface, energy distribution, building systems, cable management, digital infrastructure, Uninterruptible Power Supply (UPS), and installation components. It offers wire and cable management products through its cable management and installation component segment. The company has adopted mergers & acquisitions as its key strategy to gain a larger share of the wire and cable management market. In May 2016, the company acquired 80% stake in the Indonesian company Trias to extend its cable management business in the Asia Pacific region.
Eaton is a global manufacturer of cable management systems. The company provides cable management products through its electrical products business segment. The company adopted new product launches and expansions as its growth strategies to maintain its market position. In August 2016, Eaton extended its product offering of flex-tray accessories to minimize labor and time on cable management installation. Later, in December 2015, the company expanded its manufacturing facility of cable management systems in Saudi Arabia to cater the needs of oil & gas, mining, industrial, and other construction projects. This expansion would further increase its wire and cable management market presence in the Middle Eastern region.
Wire and Cable Management Market by Product (Trays & Ladders, Raceway, Connectors, Ties, Conduit), Cable Type (Power Cable, Communication Wire & Cable), Material (Metallic and Non-Metallic), End-User, and Region - Global Trends and Forecasts to 2023
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