The market for cable trays is expanding as a result of rising construction sector demand, which in turn is fueling emerging economies' rapid urbanisation. Adopting a free-market or mixed-economy strategy has encouraged private sector expansion, which has increased employment and economic prospects in rising economies. As a result, these nations' urban populations are growing quickly. The sophisticated wiring system in the commercial and industrial construction industry is held in place by cable trays. For instance, the World Urbanisation Prospects 2018 report by the United Nations projects that by the year 2050, 68% of the world's population would reside in urban areas, up from the present 55%. By 2050, the world's population could increase by another 2.5 billion, with about 70% of that growth occurring in Asia Pacific. The expanding electronics and telecommunications sectors, as well as the rising energy consumption, are both expected to drive growth in the global market for cable trays. Due to rising demand for cable trays from the industrial and construction industries, North America is anticipated to have considerable expansion over the projected period.
Coherent Market Insights projects that the market for Cable Trays was worth USD 2.75 billion in 2018 and is expected to grow to USD 5.46 billion by 2026, at a CAGR of 9.06%.
Top Companies in the Cable Trays Industry:
1. Atkore International Group Inc.
The company was established in 1959 and has its main office in Illinois, United States. Electrical goods are produced by Atkore Inc. (Atkore). Electrical conduit, armoured cable, cable trays, cable systems, and mounting systems are all included in the company's range of electrical subway goods. Elite Polymer Solutions will be acquired by Atkore Inc. in November 2022.
2. Hoffman
The firm was established in 2002 and is based in Silicon Valley. The company provides workstations and storage equipment, mono machining, clamping technology, grinding and cutting machines, hand tools, and spare components. The business of the company comprises offering public relations services.
3. Enduro Composites
The company was started in 1954 and has its main office in Houston, Texas, United States. Distributing roofing, siding, and insulation products in bulk is one of the company's business activities. Enduro is a developer, producer, and distributor of engineered composite products, especially for the infrastructure and industrial sectors. Enduro Composites was purchased by Creative Composites Group in March 2023.
4. Cooper Industries
The business was established in 1833 and is located in Houston, Texas, United States. The business manufactures a variety of electrical tools and goods on a global scale. The company sells fuses, non-power hand tools, industrial power tools, lighting fixtures, wiring devices, support systems, hazardous duty electrical equipment, and electrical distribution equipment. Eaton announced in March 2020 that Signify N.V. would purchase its lighting division.
5. Legrand SA
The business was founded in 1860 and has its headquarters in Limoges, France. The company sells circuit breakers, security systems, switches, sockets, fuses, cables, solar energy panels, energy management parts, and accessories. The company purchased French electrical power Force Company Voltadis and UK cooling firms USystems in 2022. The business announced the acquisition of Chicago-based private architectural lighting producer Focal Point LLC in 2020.
6. Oglaend System
The company was started in 1977 and is based in Norway. Leading manufacturers of multidiscipline support systems, cable trays, ladders, and other accessories include Oglaend System. The business provides project management, installation, structural analysis, 3D creating, and other associated services.
7. Panduit Corporation
The business was founded in 1953 and has its headquarters in Illinois, United States. The Panduit Corporation creates and offers commercial clients physical infrastructure solutions. The business makes installation tools, cabinets, racks, cable ties, grounding systems, identification and labelling systems, and copper and fibre optic systems. Vigilent acquired Panduit's SynapSense business in May 2023 in order to increase customer value and speed up growth.
Definition: To support electrical wires for power distribution, communication, and control panels, cable trays are employed. In the commercial and industrial construction industry, these cable trays are utilised for cable management.
