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The global cable trays market is poised for substantial growth, with an expected valuation of US$ 4.8 Billion in 2022, projected to expand at a CAGR of 4.45%, reaching US$ 7.3 Billion by 2032. The market is anticipated to be driven by the perforated cable trays segment, constituting around 45.1% of the market value share by 2032. The top 3 countries are predicted to hold 30-35% of the market by the end of 2022.
According to FMI analysis, cable trays' revenue was US$ 4.6 Billion in 2021, with an estimated absolute incremental opportunity of US$ 2.8 Billion from 2022 to 2032. The demand for cable trays is fueled by the increasing need for cable bundling solutions, particularly in end-use industries such as telecommunications, energy, power, building, and construction.
The cable trays market has witnessed steady growth, with a 3.75% increase from 2015 to 2021, reaching US$ 4.51 Billion in 2021 from US$ 3.61 Billion in 2012. These efficient cable management tools, available in various types such as ladder, perforated, solid bottom, and wire mesh cable trays, offer enhanced cable support compared to traditional methods.
The development of industrial infrastructure is a significant factor driving the demand for cable trays. The rising number of setups in industries like energy and power, building, and construction necessitates effective wire management systems for safety and proper cable organization. The surge in demand for cable management solutions, coupled with increased expenditure on construction activities, is expected to contribute to market growth.
The metal cable trays segment holds a significant portion of the market, projected to expand 1.5x its current value, driven by benefits such as low maintenance, durability, and high quality. The telecommunication segment is expected to generate substantial demand, presenting a growth opportunity of US$ 1.21 Billion from 2022 to 2032.
Regionally, North America, particularly the USA, is set to dominate the cable trays market, holding around 81% of the share in the cable trays market during the forecast period. Stringent workplace safety laws and increasing power distribution contribute to the demand in the USA. Europe, led by the UK, is securing a relevant share, driven by a rising construction sector and infrastructure development. The Asia Pacific region, notably South Korea, is experiencing significant growth due to a booming telecommunication sector.
In the passive optical network (PON) market, Europe is witnessing growth due to increased budget allocations for PON infrastructure by the European Union. The USA holds a substantial share, driven by the need for higher bandwidth applications and environmentally friendly network solutions. Japan's PON market is expected to grow, supported by government initiatives and the demand for futuristic services.
South Korea's PON market is flourishing with the commercialization of WDM-PON, aimed at providing high-speed connectivity for future video-centric services. The overall global PON market is expanding, with key players investing in advanced technologies and partnerships.
In summary, the cable trays market is poised for robust growth, driven by the increasing demand for cable management solutions in various industries worldwide. Regionally, North America and the Asia Pacific, particularly South Korea, are expected to be key contributors to market expansion. The PON market is experiencing growth globally, with Europe, the USA, Japan, and South Korea playing significant roles in driving advancements in passive optical network technology.
The global cable trays market is poised for substantial growth, with an expected valuation of US$ 4.8 Billion in 2022, projected to expand at a CAGR of 4.45%, reaching US$ 7.3 Billion by 2032.
The global market is projected to grow at a CAGR of 4.45% during the forecast period, 2023-2032.
Research on the market is done by industry professionals who provide personalized insights on the industry structure, market segmentation, Type assessment, competitive landscape (CL), along with penetration, and emerging trends. In addition to years of professional experience in their various fields and sectors, their analysis is largely based on primary interview (60%) and secondary research (40%) as well as years of professional experience. In addition, our researchers forecast the market's direction over the following seven years by examining past trends and the market's current position. Additionally, various trends of segments and categories that are geographically portrayed are studied and estimated using primary and secondary research.
The key level executives (VP, CEO, Marketing Directors, and Business Development Managers) of the major industry participants who are active and prominent as well as mid-scale businesses operating in this market were interviewed in-depth for this supply-side report by overall Global Market Research.
Extensive primary research was conducted to gain a deeper grasp of the market and industry. Both primary and secondary research, as well as years of pertinent professional experience, are used to support the analysis. By analyzing past and present market patterns, our experts were able to forecast the market's course over the following seven years. For the geographically offered categories in the list of market tables, it differs per category. In connection with the Global Market research report, we also conducted a number of primary interviews with senior level executives (VP, CEO's, Directors, Marketing Directors, Business Development Managers, CFOs, Technical Consultants, Key Opinion Leaders, Industry Experts, Decision Matrix Authorities, and other crucial individuals) of the key industry players who dominated the Global market.
The primary purpose of secondary research was to gather, identify, and validate the information necessary for the thorough, technical, market-focused, and commercial analysis of the global market. With the use of this study, it was also possible to classify and segment the market in accordance with market trends, geographic markets, and regional considerations linked to market type. Analysts have gathered data in the Distribution Channel for the study of the market from reliable sources including annual reports, journals, white papers, corporate presentations, company websites, international organizations of Energy and Power manufacturers, credible paid databases, and many others to gather reliable intel.
Both top-down and bottom-up methodologies were employed to assess the accuracy of the global market size. The market for as a whole was estimated using these methods for a number of different dependent submarkets. Secondary research was used to address the major industry players, and primary and secondary research was used to calculate their market shares in the various regions. This complete intellectual process includes reading the annual and financial reports of the top market participants and conducting in-depth interviews with top industry executives (VP, CEO, Marketing Directors, and Business Development Managers) to gain important industry insights.
Through reliable secondary sources and validated primary sources, the classification of the global markets and their geographic percentage splits were established. To obtain the final qualitative and quantitative data, all relevant variables that might have an impact on the market under investigation have been taken into consideration, inspected in great depth, verified through primary research, and assessed. This information was collected, added to, and thoroughly examined by professional analysts before being provided in this report. The process used to estimate the overall market size for this study is depicted in the following image as an example.
Report Code :
RL65480
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