Cable Tray Market - By Material (Aluminum Steel, Stainless Steel, Fiberglass), By Finishing (Galvanized Coatings, Pre-galvanized, Hot-dip Galvanized), By Application (Power, Construction, Manufacturing, Utilities, IT & Telecommunication), By Type & Forecast 2023 - 2032

Cable Tray Market Size

Cable Tray Market size was valued at over USD 2.5 billion in 2022 and is anticipated to grow at a CAGR of over 5% between 2023 and 2032 owing to the demand for supporting equipment in electrical signals, power & instrumentation control, and communication cables in various industries. This requirement is met by a cable system, of which a cable tray is an important component as it provides safety, improves space utilization, is cost-effective, and has a flexible style. The growing demand for cable trays in the construction industry is expected to drive market growth.

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A cable tray is an electrical wiring system component that holds & routes cables and wires. This system will manage the cables & wires used in various industrial, commercial, and residential applications in a safe & orderly manner. Cable trays come in a variety of sizes, shapes, and materials including metal, plastic, and fiberglass. They can be used to support a variety of electrical wire systems and are frequently located above, adjacent to, or beneath elevated floors.
 

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There are significant constraints that may hinder market growth. Changes in raw material prices may affect the profitability of cable tray manufacturers and increase product cost for consumers. Another constraint, particularly in developing countries, is the lack of skilled labor in cable tray installation & maintenance. Furthermore, due to strict government regulations governing safety & quality standards, the high cost of cable tray production & installation may be a barrier to market expansion.

COVID-19 Impact

The COVID-19 outbreak hindered the entire logistics of cable tray products as well as threatened production & use all over the world. The COVID-19 pandemic had negative impacts on communities & businesses. While the growth of multiple industries has been significantly hampered, many other markets remained unaffected and accounted for good growth prospects. The COVID-19 pandemic severely impacted the upstream raw material market, thereby hampering the cable tray market due to the declining demand for end-use products and the suspension or reduction in production.

Cable Tray Market Trends

The rapid industrialization & urbanization of emerging nations is driving the demand for cable trays due to the necessity of these systems in the effective distribution of power & control cables. Construction & infrastructure development is expanding rapidly in the emerging markets, which is increasing the demand for cable trays. Another major factor driving the global market growth is the increased demand for dependable power distribution systems. Cable trays are used to support & protect cables, thereby reducing the risks of damage and power outages. Furthermore, they provide effective cable routing, which can reduce installation & maintenance costs. The rising number of renewable energy installations is driving the demand for cable trays.

Cable Tray Market Analysis

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Based on material, the tray material market is segmented into aluminum steel, stainless steel, and fiberglass. The aluminum steel material segment held a market share of around 55% in 2022 and is expected to grow at a lucrative pace through 2032. The aluminum cable trays are estimated to occupy a considerable market share over the forecast period. Aluminum cable trays are lightweight, resistant to corrosive environments, and easy to install. Therefore, this material is preferred in various industries for a significant number of applications. Furthermore, the cost-effectiveness of the product is expected to significantly enhance its demand.

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Based on product, the market is segmented into ladder cable trays, solid bottom cable trays, through (ventilated) cable trays, channel (perforated) cable trays, wire mesh cable trays, and single rail cable trays. The ladder cable trays segment held a market value of over USD 1 billion in 2022. They are suitable for applications that require the routing of multiple cables due to their high cable capacity. They are a versatile & adaptable option as they are easily modified to accommodate changes in cable configurations. Furthermore, ladder cable trays provide better ventilation than other types of cable trays. The open design of the ladder rungs allows for better airflow around wires, which is important in hot environments. As they are lightweight, they are simple to install & transport. They can also save money as they require fewer support brackets than other types of cable trays. They also have an easy-to-understand design that makes them simple to inspect & maintain.
Based on application, the cable tray market is segmented into power, manufacturing, construction, IT & telecommunication, and others. The construction segment held a dominant market share in 2022 and is anticipated to grow at a CAGR of over 4.5% by 2032. Construction accounted for a significant market share and is expected to grow at a rapid pace during the forecast period. The rise in construction activities and rapid urbanization, particularly in emerging economies, can be attributed to the increasing use of cable trays. The construction of residential buildings, hospitals, and shopping malls is expected to drive the demand for cable trays. Due to the product flexibility, the ability of cable trays to adapt to complex structures will further drive segment demand.

Cable Tray Regional Analysis

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Asia Pacific is the fastest growing region in the global cable tray market, accounting for over 30% of the business share in 2022. Rising construction activities, rapid urbanization, the growing population, increasing disposable incomes, and the expansion of the IT & telecommunications industry are some of the major factors driving market growth in Asia Pacific. China's expanding residential construction and healthcare infrastructure are expected to help in market growth over the forecast period.

Cable Tray Market Share

Some of the major players operating in the cable tray market are

• ABB
• Atkore International
• Schneider Electric
• Chalfant
• Basor Electric SA
• MP Husky
• Oglaend System Group
• SnakeTray
• TechLine Mfg.
• Eaton Corporation
• Panduit Corp
• Chatsworth Products, Inc.
• Niedax Group
• WIREMAID USA
• Vantrunk
• Enduro Composites Inc.
• Legrand
• Hubbell incorporated

These players focus on strategic partnerships, new product launches, and commercialization methods for market expansion. Furthermore, these players are heavily investing in research, allowing them to introduce innovative products and garner maximum market revenue.

Cable Tray Industry News

• In September 2022, ABB invested USD 13 million in its Quebec manufacturing facility. The installation products division of the company operates the facility. The funds were estimated to be used to expand production capacity as well as establish a research & development facility at the company's global center of excellence for cable tray manufacturing.
• In July 2022, Niedax India designed industry-specific cable trays. These special box-type cable trays represent a new cable tray design that is designed specifically for tunnel projects.

The cable tray market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD million from 2018 to 2032 for the following segments

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By Type

• Ladder Cable Trays
• Solid Bottom Cable Trays
• Through (Ventilated) Cable Trays
• Channel (Perforated) Cable Trays
• Wire Mesh Cable Trays
• Single Rail Cable Trays

By Material

• Aluminum Steel
• Stainless Steel
• Fiberglass

By Coating

• Galvanized Coatings
• Pre-Galvanized
• Hot-Dip Galvanized

By Application

• Power
• Manufacturing
• Construction
• Utilities
• IT & Telecommunications
• Others

The above information is provided for the following regions and countries

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • ANZ
  • Singapore 
• Latin America
  • Brazil
  • Mexico
• MEA
  • UAE
  • Saudi Arabia
  • South Africa