케이블 트레이 - 시장 점유율 분석, 산업 동향 및 통계, 성장 예측(2024-2029년)

The Cable Tray Market size is estimated at USD 4.54 billion in 2024, and is expected to reach USD 7.52 billion by 2029, growing at a CAGR of 10.54% during the forecast period (2024-2029).

Key Highlights

• Cable trays are structural systems that support and organize cables for power distribution, communication, and control in buildings and industrial settings. With the global surge in construction projects, the need for efficient cable management, like cable trays, is increasing. This demand is further fueled by urbanization and infrastructure advancements. Moreover, the push for adherence to safety standards and regulations focuses on the enhancement of cable trays.
• The growth of digital data is fueling a surge in demand for data centers. Within these centers, cable trays play a crucial role, providing efficient solutions for managing networking cables, power distribution, and fiber optics. As cloud computing services expand and the demand for data storage grows, data centers increasingly rely on these extensive cabling solutions.
• According to the JLL Report of 2023, the global count of hyperscale sites under development stands at 314, marking a substantial leap in data center technology. By the close of 2024, this tally is projected to exceed 1,000, doubling from approximately 500 sites just five years ago. While the United States is anticipated to retain its lead in hyperscale advancements, countries such as China, Ireland, India, Spain, Israel, Canada, Italy, Australia, and the United Kingdom are also experiencing notable growth.
• Installing cable trays demands specialized equipment, skilled labor, precise measurements, and unique techniques. These systems necessitate supplementary components like wrist straps, body mounts, wall mounts, fasteners, and supports, which increase the overall cost. Moreover, setting up cable trays in nuclear plants, construction sites, and sizable projects demands dedicated time, equipment, and personnel, potentially leading to construction delays and added expenses that hamper the market's growth.
• After COVID-19, cloud services experienced expansion as migration to cloud platforms increased, which involved ensuring extensive cabling solutions in hyperscale data centers. Moreover, there is an increased reliance on digital services, which is accelerating the growth of data centers and driving the demand for cable tray systems to support large-scale IT infrastructure.

Cable Tray Market Trends

Construction Segment Holds a Major Share

• The construction sector dominates the market, primarily driven by government-funded infrastructure projects that boost construction activities. This surge in construction, in turn, increases the need for cable trays to manage electrical and communication cabling. Additionally, a rising inclination toward integrating IoT devices and smart building technologies enhances energy management, security, maintenance, and occupant comfort. This trend is further propelling the growth of the cable tray market.
• Smart cable trays equipped with IoT sensors ensure real-time monitoring of cable conditions, which helps enhance maintenance and operational efficiency. It can also facilitate automation in the design and installation of cable trays through advanced software tools and robotics.
• In 2023, Zurich claimed the world's smartest city title, attributing its success to robust infrastructure, commitment to sustainability ethos, and an advanced transportation network. The city's initiatives span from smart traffic management and bike-sharing programs to energy-efficient structures. IBM's assessment highlighted Zurich's digital security and public transit expertise. IBM also highlighted Zurich's exceptional citizen engagement with its digital offerings.
• There is growth in sustainable and energy-efficient projects, which necessitates the use of sustainable materials and designs in the cable tray systems. Projects that incorporate renewable energy sources, such as solar panels, require robust cable management to handle additional wiring requirements. For instance, the Indian government, in its Interim Budget for 2024, allocated more than USD 1.38 billion (approximately INR 11,500 crore) to bolster the renewable energy sector and combat carbon emissions. This funding is allocated for Solar Power (Grid), the National Green Hydrogen Mission, and Wind Power (Grid) projects, covering the financial year until March 2025.
• In addition, there is an increase in the construction of modern residential complexes globally, which require comprehensive cable management for internet, television, and smart home systems. Some of the projects involve solar panel installations for electricity purposes. Thus, various cables are required to connect photovoltaic modules, inverters, charge controllers, batteries, etc. Cable trays help with the organization of the cables to prevent tangling and ensure safe installation. For instance, as per the International Energy Association (IEA), the solar renewable electricity capacity is expected to reach 3329.5 gigawatts by 2027 globally.

Asia-Pacific to Witness Major Growth

• The cable tray market in Asia-Pacific is expected to witness growth in the coming years, primarily driven by a robust construction sector. Rising investments in construction and infrastructure, particularly in nations like China, India, and Southeast Asia, fuel the demand for cable management systems.
• In the Asia-Pacific region, several markets have started building 5G infrastructure. South Korea set the global pace by launching a nationwide 5G network in April 2019. Subsequently, Australia, the Philippines, China, and New Zealand followed it, and every country is expected to improve its network infrastructure, driving the need for structured cabling. According to the Q2 2023 data from GSMA Intelligence, South Korea, China, and Japan emerged as frontrunners in 5G adoption, with China having a 41.1% penetration rate in 5G connections, signifying a higher percentage of 5G connections than the European markets highlighted in this report.
• Moreover, investments in smart city projects across the region are expected to drive the demand for advanced cable tray systems to support smart infrastructure, IoT devices, and communication networks. For instance, Smart City Summit Expo (SCSE) 2025 is scheduled to take place in Taipei, Taiwan. This event marks the largest hybrid smart city tradeshow, featuring a range of IoT and smart city solutions. These initiatives drive the demand for cable trays in the market.
• Asia-Pacific is a hub for manufacturing industries, and the growth of automation, robotics, and Industry 4.0 technologies in factories drives the demand for the cable tray system to support electrical wirings. Cable trays help protect the cable from damage due to environmental factors such as mechanical wear and inference, which is helpful in the safety of automated systems.
• Companies are more focused on safety features. They make investments in cable tray systems to protect cables from fire in critical infrastructure facilities. Thus, there is a need to develop fire-resistant cable trays to ensure safety in data centers and critical infrastructure facilities.
• For instance, in June 2024, Covestro, a materials manufacturer, unveiled its latest innovation, which is the Desmopan FR (Flame Retardant) thermoplastic polyurethane (TPU) series. TPUs have a new application in this series, tailored for premium flame-retardant cable jackets. These jackets are crucial in industries like automotive charging and consumer electronics, where fire safety is a crucial factor.

Cable Tray Industry Overview

The cable tray market is fragmented, with numerous competitors and competing technologies that provide intense rivalry among the players. Furthermore, acquisitions and collaborations of large companies with startups are expected, focusing on innovation. Some of the players include Atkore International Group Inc., Legrand SA, Thomas & Betts (ABB), Schneider Electric, and Eaton Corporation.

• January 2024: Panduit, a network and electrical infrastructure solutions player, unveiled its latest innovation: the Wire Basket Cable Tray Routing System. This system is tailored to efficiently handle copper data cables, fiber optics, and power cables in data centers, interlinked buildings, and industrial settings. The Wire Basket features an innovative design and a superior strength-to-weight ratio over its competitors. Notably, it is robust and offers a swift and straightforward installation, making it a cost-effective choice.
• December 2023: The Prysmian Group, a global energy and telecom cable system player, announced a pivotal service level agreement (SLA) with TenneT, the German-Dutch transmission system operator. Under this agreement, Prysmian provides comprehensive nearshore and offshore cable maintenance, inspection, and repair services for TenneT's HVDC and HVAC submarine power cables in the North Sea. This collaboration will see N-Sea providing expertise in surveying, IMR, construction, subsea cable operations, and even UXO identification and disposal.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

TABLE OF CONTENTS

1 INTRODUCTION

• 1.1 Study Assumptions and Market Definition
• 1.2 Scope of the Study

2 RESEARCH METHODOLOGY

3 EXECUTIVE SUMMARY

4 MARKET INSIGHTS

• 4.1 Market Overview
• 4.2 Industry Attractiveness - Porter's Five Forces Analysis
  • 4.2.1 Bargaining Power of Suppliers
  • 4.2.2 Bargaining Power of Consumers
  • 4.2.3 Threat of New Entrants
  • 4.2.4 Threat of Substitutes
  • 4.2.5 Intensity of Competitive Rivalry
• 4.3 Overview of the Impact of Macroeconomic Trends

5 MARKET DYNAMICS

• 5.1 Market Drivers
  • 5.1.1 Ongoing Demand for Construction-based Activity in Emerging Regions
  • 5.1.2 Demand in Renewable Energy Commercialization
  • 5.1.3 Growth in Data Centers and Telecommunications Infrastructure
  • 5.1.4 Emphasis on Workplace Safety and Compliance
• 5.2 Market Challenges
  • 5.2.1 High Cost of Raw Materials
• 5.3 Types of Cable Trays and their Key Applications
  • 5.3.1 Including Ladder, Solid Bottom, Wire Mesh, Single Rail, etc.

6 MARKET SEGMENTATION

• 6.1 By Material (Market Estimates and Forecast | CAGR| Growth Trends and Other Market Dynamics)
  • 6.1.1 Aluminum
  • 6.1.2 Steel
  • 6.1.3 Fiber-reinforced Polymers (FRP)
• 6.2 By End-user Industry (Market Estimates and Forecast | CAGR| Growth Trends and Other Market Dynamics)
  • 6.2.1 Power and Utilities
  • 6.2.2 Construction
  • 6.2.3 Industrial
  • 6.2.4 Other End-user Industries (IT & telecom, Data Centers, etc.)
• 6.3 By Region (Market Estimates and Forecast | CAGR| Growth Trends and Other Market Dynamics)
  • 6.3.1 North America
  • 6.3.2 Europe
  • 6.3.3 Asia
  • 6.3.4 Middle East and Africa
  • 6.3.5 Latin America

7 COMPETITIVE LANDSCAPE

• 7.1 Company Profiles
  • 7.1.1 Atkore International Group Inc.
  • 7.1.2 Legrand SA
  • 7.1.3 Thomas & Betts (ABB)
  • 7.1.4 Schneider Electric
  • 7.1.5 Eaton Corporation
  • 7.1.6 Chalfant Manufacturing Co.
  • 7.1.7 OBO Bettermann GmbH & Co. KG
  • 7.1.8 Hubbell Inc.
  • 7.1.9 Panduit Corporation
  • 7.1.10 OGLAEND Group Holding AS (Hilti)
  • 7.1.11 Prysmian Group

8 MARKET OPPORTUNITIES AND FUTURE TRENDS