Pune, Oct. 07, 2019 (GLOBE NEWSWIRE) -- The global Cable Tray Market is likely to derive growth from the growing power needs and increasing number of sub-stations across the world. According to a report published by Fortune Business Insights, titled “ Cable Tray Market Size, Share & Industry Analysis, By Type (Ladder, Solid Bottom, Trough, Channel, Wire Mesh, Single Rail), By End-User (Power, Construction, Manufacturing, IT & Telecom, Others), By Material (Steel, Aluminium, Stainless Steel), and Regional Forecast, 2019-2026,” the market was valued at USD 2.75 Billion in 2018 is projected to reach USD 5.46 Billion by 2026, exhibiting a CAGR of 9.06% during the forecast period.
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The rising global population has led to a subsequent increase in the demand for basic necessities. As a result, industries and manufacturing units are being set up across the world. The growing industrialization, combined with the increasing number of IT and communication centres and corporate offices, will set the platform for a widespread adoption for cable tray market across the world. Cable tray allows safe transportation of wires that are used to transmit electricity. Besides power transmission, cable trays can be helpful in cases of overvoltage and overcurrent. Cable trays will help minimize the exposure to open wires, thereby reducing risks and injuries associated with open wire contacts. Such exceptional properties of cable trays will lead to a rising adoption for the product across the world, which in turn will favor the growth of the global Cable Tray Market in the coming years.
The report provides an in-depth analysis of the global Cable Tray Market with regard to aspects such as leading companies, growth drivers, and leading product types. Additionally, the report provides a detailed study of the market by classifying it into various regions. The report highlights a few of the leading business strategies adopted by the companies operating in the global market and states the impact of these strategies on the growth of the market.
Aluminium Segment to Account for a Dominating Cable Tray Market Share
Among the product types, Fortune Business Insights labels the aluminium type as the segment that holds a dominating share of the global Cable Tray Market. The properties of aluminium such as enhanced load bearing capacity and a high strength to weight ratio has led to a rising adoption for the product across the world. Additionally, the low maintenance cost associated with aluminium will contribute to the growing adoption of the product. Due to the aforementioned factors, the aluminium segment is likely to exhibit a high CAGR in the forecast period.
IT and Telecom Sector to Exhibit High Growth Rate
The increasing need for power utilities has, in turn, created the need for power cables and other products associated with sub-stations. Growing power needs will provide several growth opportunities for the Cable Tray Market. Increasing investment in power substations will help these companies generate substantial Cable Tray Market revenue. Additionally, the increasing need for technological facilities and data centres to enable enhanced virtual support will aid the growth of the IT and telecom segment.
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Some of the leading companies that are operating in the global Cable Tray Market are:
- ABB
- Schneider Electric
- Eaton
- Hubbell Incorporated
- MP Husky Cable Tray & Cable Bus
- Atkore International
- Chalfant Manufacturing Co.- OBO Bettermann Group
- Legrand
- Basor Electric SA
- MonoSystems
- Snake Tray
- WIREMAID USA
- Øglænd System Group
- WBT - PERFORMANCE CABLETRAY
- Techline Mfg.
- Chatsworth Products
- Panduit
- Niedax Group
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancement
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Global Cable Tray Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights, and Forecast – By Material (USD Billion)
- Steel
- Aluminium
- Stainless Steel
- Market Analysis, Insights, and Forecast – By Type (USD Billion)
- Ladder
- Swaged Ladder
- Welded Ladder
- Solid Bottom
- Trough
- Channel
- Wire Mesh
- Single Rail
- Ladder
- Market Analysis, Insights and Forecast – By End-User (USD Billion)
- Power
- Construction
- Manufacturing
- IT & Telecom
- Others
- Market Analysis, Insights and Forecast – By Region (USD Billion)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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