Standardized Cable Lugs Support Crimp Connectivity
Cable management accessories are a mandate in most industrial applications to ensure high productivity and avoid financial losses. Stakeholders in the manufacturing domain are increasingly investing in high-end cable management systems to maintain efficient electrical services in organizations. This has led to the development of efficacious cable lugs. Manufacturers in the cable management accessories market are competing to develop insulated and non-insulated cable lugs that guarantee consistent electrical connection in various applications. Thus, end users are increasingly benefitting from the advantageous attributes of cable lugs.
Request a sample to get extensive insights into the Cable Management Accessories Market
In terms of value, cable lugs type segment of the cable management accessories market is expected to reach a value of ~US$ 1.6 Bn by 2027. Hence, manufacturers are increasing production capabilities of cable lugs that meet international standards. For instance, Weidmuller – a provider of industrial solutions, excels in the production of multi-purpose cable lugs that comply with global standards of DIN and UL. Companies in the cable management accessories market landscape are developing cable lugs that offer best crimp connections with various crimping tool sets.
Demand for Tubular Cable Lugs to Generate Incremental Opportunities
Amongst regions, the cable management accessories market in Asia Pacific and North America is likely to experience exponential growth during the forecast period. Developing economies of Asia Pacific, such as India, are targeted for growth, owing to the booming infrastructure sector in these countries. This trend has fueled the demand for cable management accessories, since electricity demand is projected to grow two-fold with increased urbanization. Moreover, there is a steady demand for quality electrical infrastructure that supports electricity demands in the future.
Tubular cable lugs are being increasingly used in the ultrasonic crimping process. These cable lugs are a novel introduction in the production of electrical drives in the cable management accessories market landscape. Tubular cable lugs ensure stability in high-frequency energy consumption for ultrasonic crimping processes. Thus, tubular cable lugs are a time and energy-efficient alternative in ultrasonic crimping processes.
Growing Demand for Cable Management Accessories in Aerospace and IT Sectors
Manufacturers in the cable management accessories market are leveraging new opportunities in the aerospace industry, since there is a growing demand for weight-reducing materials in the aerospace industry. Thus, manufacturers in the cable management accessories market are increasing the production of customized and precision parts that cater to the needs of engineers in the aerospace industry. They are focusing on weight savings for performance gains. Moreover, various companies are collaborating to develop reliable wiring solutions for in flight entertainment systems.
To understand how our report can bring difference to your business strategy, Ask for a brochure
Furthermore, companies operating in the cable management accessories market are developing heat shrink closures that enhance network performance. As such, heat shrink tubes type segment is projected to reach a value of ~US$ 450 Mn by 2027. Thus, the pervasively growing IT & telecom sector is propelling the demand for heat shrink closures. Additionally, tried and tested efforts have led to innovations in splice closures that support cable diameters and joint dimensions.
Companies Develop Laser Marking Systems to Address Problems of Counterfeit Cables
The cable management accessories market is consolidated with four major players accounting to ~45-50% of the total market share. However, certain issues in the market landscape are slowing down market growth. For instance, finding a suitable marking solution for steel wires is one of the challenges for end users in the cable management accessories market landscape. In order to improve the traceability of wires, there is a growing need for innovative solutions that prevent counterfeit cables. Hence, manufacturers in the cable management accessories market are increasing their efficiency in laser marking solutions.
Laser marking systems are being increasingly used to improve traceability and generate identification codes for cable and wire markings. As such, cable markers type segment of the cable management accessories market is anticipated to reach a value of ~US$ 800 Mn by the end of 2027. Hence, companies are catering to the needs of end users by developing easy-to-use software integrated systems. These systems are being increasingly adopted in the rapidly growing industrial production sector. Moreover, companies in the cable management accessories market are increasing R&D activities to develop systems based on maintenance-free fiber laser sans the need for additives or pigments.
Buy Complete Report@:
https://www.transparencymarketresearch.com/checkout.php?rep_id=13196<ype=S
Cable Management Accessories Market: Overview
- According to Transparency Market Research’s latest research report on the global cable management accessories market for the historical period of 2017–2018 and the forecast period of 2019–2027, major advancements in the global infrastructure sector, rise in renewable energy generation, increase in the number of infrastructure developmental projects in Middle East & Africa, growth of the global construction industry, and stringent regulations on cable management accessories are likely to fuel the global cable management accessories market during the forecast period
- In terms of revenue, the global cable management accessories market is estimated to reach a value of ~US$ 2.9 Bn by 2027, expanding at a CAGR of ~8% during the forecast period
Advancements in Global Infrastructure Sector and Increase in Renewable Energy Generation: Key Drivers of Cable Management Accessories Market
- Investments in the global infrastructure sector have been increasing over the years, owing to rise in focus on the infrastructure sector in developed as well as developing economies. Suring demand for innovative solutions to fulfill requirements of end users is also likely to fuel the global cable management accessories market during the forecast period.
- Energy infrastructure and public sector infrastructure, such as railways, roads, airports, and communication networks across the globe need to be expanded and replaced. This factor is driving the demand for cable installations, subsequently augmenting the demand for cable lugs and markers.
- Increasing electricity access percentage (%) in developing economies, such as China, India, Brazil, and Russia, acts as a key factor driving the demand for power generation
- Rising investments in energy generation, distribution, and transmission infrastructure are expected to create significant demand for cable lugs and cable markers in the near future. These factors are primarily fueling the global cable management accessories market.
- In 2019, the Abu Dhabi Fund for Development (ADFD) announced to provide US$ 350 Mn for the implementation of government-supported renewable energy projects worldwide
Constant Growth of Information Technology Sector: Latest Trend in Cable Management Accessories Market
- A key trend that is witnessed in the global cable management accessories market is growth in the adoption of information technology (IT) and rise in the dependence of institutions and businesses that use high-performance cabling for IT
- Rapid advancements in the communication technology last long, due to constant innovations in the communication sector and increasing demand among customers
- Due to this, the demand for markers for data/communication applications is increasing. As a result, manufacturers of cable management accessories have started developing new products and systems that can adapt to varying requirements.
Fluctuations in Prices of Raw Materials a Major Challenge for Cable Management Accessories Market
- Some of the key raw materials required to manufacture cable management accessories include steel, copper, aluminum, and plastics
- Prices of some of these raw materials such as steel and plastics have been volatile and unpredictable historically
- This factor makes it difficult for cable manufacturers to continue production at optimum prices. Manufacturers are reluctant to compromise on their profit margins below a certain limit and thus, the load of additional prices is reflected on the end user price.
- The impact of this factor is expected to remain moderate during the forecast period
Cable Management Accessories Market: Competition Landscape
- Detailed profiles of providers of cable management accessories have been provided in the report to evaluate their financials, key product offerings, recent developments, and strategies
- Key players operating in the global cable management accessories market are
- Cembre S.p.A.
- Chatsworth Products, Inc.
- Eaton Corporation Inc.
- HellermannTyton Group PLC
- Gustav Klauke GmbH (Emerson Electric Co.)
- Legrand S.A.
- Panduit Corporation
- Partex Marking Systems AB
- Schneider Electric SE
- TE Connectivity Ltd.
- Thomas & Betts Corporation (ABB Ltd)
Cable Management Accessories Market: Key Developments
Key providers of cable management accessories, such as Schneider Electric SE, Thomas & Betts Corporation (ABB Ltd), Eaton Corporation Inc., TE Connectivity Ltd., HellermannTyton Group PLC, and Lagrand S.A., are focusing on acquisitions and development of innovative products to offer a diversified range of products and gain customers. Some other key developments in the global cable management accessories market are:
- In August 2018, HellermannTyton Group PLC designed an innovative flexible mounting solution i.e. FlexTack. This flexible cable tie mount is designed for use on angled and curved surfaces.
- In July 2018, Panduit Corp. introduced its newly developed and the smallest Vari-MaTriX line of Category 6A copper cables with 0.25 inches diameter. These lightweight, small-sized cables offer improved cable management and fill capacity.
- In October 2017, TE SubCom, a subsidiary of TE Connectivity Ltd., announced a contract in force for JUPITER cable, which is designed to boost high-capacity connectivity between Asia and the U.S.
In the report on the global cable management accessories market, we have discussed individual strategies, followed by company profiles of providers of cable management accessories. The ‘Competition Landscape’ section has been included in the report to provide readers with a dashboard view and company market share analysis of key players operating in the global cable management accessories market.
Read Our Latest Press Release:
About Us
Transparency Market Research is a next-generation market intelligence provider, offering fact-based solutions to business leaders, consultants, and strategy professionals.
Our reports are single-point solutions for businesses to grow, evolve, and mature. Our real-time data collection methods along with ability to track more than one million high growth niche products are aligned with your aims. The detailed and proprietary statistical models used by our analysts offer insights for making right decision in the shortest span of time. For organizations that require specific but comprehensive information we offer customized solutions through ad-hoc reports. These requests are delivered with the perfect combination of right sense of fact-oriented problem solving methodologies and leveraging existing data repositories.
Contact
Transparency Market Research State Tower,
90 State Street,
Suite 700,
Albany NY – 12207
United States
USA – Canada Toll Free: 866-552-3453
Email: [email protected]
