Cable management accessories refer to products that help in organizing and routing of cables in order to make the cable infrastructure neat and clean. Some of the common cable management accessories include cable ties, cable lace, cable clips, cable conduits, raceways, runway kits, cable organizers and others. These accessories play a vital role in reducing clutter, noise and damages to cables thereby increasing their life span and maintaining power integrity.
The global Cable Management Accessories Market is estimated to be valued at US$ 2.85 Bn in 2023 and is expected to exhibit a CAGR of 6.7% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends:
One of the key trends in the cable management accessories market is the growing demand for eco-friendly solutions. Plastic cable ties and non-biodegradable conduits pose serious environmental threats. Hence, manufacturers are focusing on developing bio-based and biodegradable cable management accessories using materials like coconut shells, banana fibers, bamboo etc. For instance, Panduit offers compostable cable management accessories made from biopolymers that fully decompose within 180 days. Similarly, HellermannTyton offers polyolefin cable ties which are recyclable and reusable to promote sustainability.
SWOT Analysis
Strength: Cable management accessories provide secure and organized cabling infrastructure with minimal clutter and safety. They ensure proper routing and protection of cables to avoid damage.
Weakness: Cable management accessories require continuous maintenance and incur additional costs. Higher adoption costs act as a barrier, especially for price-sensitive customers.
Opportunity: Emerging need for cable management in data centers, communication networks, and renewable industries present growth prospects. Rapid infrastructure development and urbanization in developing nations also offer opportunities.
Threats: Availability of low-cost alternatives and presence of local players increase competition. Stringent environmental regulations on plastic cable ties pose threats.
Key Takeaways
The Global Cable Management Accessories Market is expected to witness high growth, exhibiting CAGR of 6.7% over the forecast period, due to increasing demand for network infrastructure upgradation across industries. Rapid digitization and growing data traffic have led to increased network connectivity requirements.
Regional analysis: North America dominated the market, accounting for around 35% share in 2023 owing to high internet penetration and adoption of cloud-based services. Asia Pacific is expected to grow at the fastest pace during the forecast period, supported by ongoing infrastructure development projects and rising investments in network connectivity in countries like China and India.
Key players: Key players operating in the cable management accessories market include Partex Marking Systems USA, Cooper Wiring Devices (Eaton Corporation), Schneider Electric SE, Chatsworth Products, Inc., Legrand SA, Weidmuller Interface GmbH & Co. KG, Thomas & Betts Corporation, Anixter Inc., HellermannTyton Group PLC, Panduit Corp., TE Connectivity Ltd., Cembre SpA, Klauke GmbH, and CableOrganizer.com LLC. The market is highly fragmented with the presence of several global and regional players. Major players focus on new product development and expansion strategies to gain higher shares.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it