Cable Tray Global Market Opportunities And Strategies To 2034

This report describes and explains the cable tray market and covers 2019-2024, termed the historic period, and 2024-2029, 2034F termed the forecast period. The report evaluates the market across each region and for the major economies within each region.

The global cable tray market reached a value of nearly $5.07 billion in 2024, having grown at a compound annual growth rate (CAGR) of 4.45% since 2019. The market is expected to grow from $5.07 billion in 2024 to $6.79 billion in 2029 at a rate of 5.99%. The market is then expected to grow at a CAGR of 5.38% from 2029 and reach $8.82 billion in 2034.

Growth in the historic period resulted from rising investments in infrastructure development, rise in data centers, expansion of telecom and 5g infrastructure and increasing demand for electric vehicle charging stations. Factors that negatively affected growth in the historic period were the volatility in raw material prices and logistical and handling challenges.

Going forward, rapid growth in the construction industry, rising investments in renewable energy infrastructure, increasing industrial automation and rapid growth of the manufacturing sector will drive growth. Factors that could hinder the growth of the cable tray market in the future include stringent and evolving certification standards, intense competition from alternative cable management systems and impact of trade war and tariff.

The cable tray market is segmented by type into ladder type cable trays, solid bottom cable trays, trough cable trays, channel cable trays, wire mesh cable trays, single rail cable trays and other cable trays. The ladder type cable trays market was the largest segment of the cable tray market segmented by type, accounting for 32.26% or $1.64 billion of the total in 2024. Going forward, the wire mesh cable trays segment is expected to be the fastest growing segment in the cable tray market segmented by type, at a CAGR of 7.93% during 2024-2029.

The cable tray market is segmented by finishing into pre-galvanized, hot-dip galvanized, powder coated and others. The pre-galvanized market was the largest segment of the cable tray market segmented by finishing, accounting for 37.26% or $1.89 billion of the total in 2024. Going forward, the others segment is expected to be the fastest growing segment in the cable tray market segmented by finishing, at a CAGR of 6.54% during 2024-2029.

The cable tray market is segmented by material type into steel, stainless steel, aluminum and other material types. The steel market was the largest segment of the cable tray market segmented by material type, accounting for 42.17% or $2.14 billion of the total in 2024. Going forward, the aluminum segment is expected to be the fastest growing segment in the cable tray market segmented by material type, at a CAGR of 7.12% during 2024-2029.

The cable tray market is segmented by application into power, construction, manufacturing, information technology (IT) and telecommunication and other applications. The construction market was the largest segment of the cable tray market segmented by application, accounting for 31.17% or $1.58 billion of the total in 2024. Going forward, the information technology (IT) and telecommunication segment is expected to be the fastest growing segment in the.

cable tray market segmented by application, at a CAGR of 7.84% during 2024-2029.

Asia-Pacific was the largest region in the cable tray market, accounting for 41.49% or $2.1 billion of the total in 2024. It was followed by North America, Western Europe and then the other regions. Going forward, the fastest-growing regions in the cable tray market will be Asia-Pacific and Africa where growth will be at CAGRs of 6.78% and 6.20% respectively. These will be followed by Western Europe and South America where the markets are expected to grow at CAGRs of 5.87% and 5.82% respectively.

The global cable tray market is fairly fragmented, with a large number of small players operating in the market. The top 10 competitors in the market made up 14.50% of the total market in 2024. Legrand SA (Cablofil) was the largest competitor with a 2.76% share of the market, followed by Eaton Corp. (Crouse-Hinds Electric Company) with 2.05%, Atkore International Group Inc. (Unistrut) with 1.45%, Schneider Electric SE, with 1.33%, ABB Ltd. (Thomas & Betts), with 1.29%, OBO Bettermann Group with 1.21%, nVent Electric plc (Hoffman) with 1.16%, DKC Group with 1.14%, Hilti Corporation (Øglænd Group Holding AS) with 1.11% and El Sewedy Electric with 1.00%.

The top opportunities in the cable tray market segmented by type will arise in the ladder type cable trays segment, which will gain $531.78 million of global annual sales by 2029. The top opportunities in the cable tray market segmented by material type will arise in the aluminum segment, which will gain $667.53 million of global annual sales by 2029. The top opportunities in the cable tray market segmented by finishing will arise in the hot-dip galvanized segment, which will gain $791.95 million of global annual sales by 2029. The top opportunities in the cable tray market segmented by application will arise in the construction segment, which will gain $530.38 million of global annual sales by 2029. The cable tray market size will gain the most in China at $392.93 million.

Market-trend-based strategies for the cable tray market include adoption of advanced coated steel technologies in cable trays, introduction of UL-listed motor cables for cable tray applications and rise in wire mesh cable trays expand use cases in modern buildings.

Player-adopted strategies in the cable tray market include focus on expanding its business capabilities through new investments to expand its operational capabilities and through strategic partnership.

To take advantage of the opportunities, the analyst recommends the cable tray market companies to focus on advanced coated steel solutions, focus on ul-certified motor cables, focus on wire mesh cable trays, focus on aluminum for automotive electronics, focus on wire mesh cable trays, focus on hot-dip galvanized coatings, expand in emerging markets, continue to focus on developed markets, focus on expanding distribution networks, focus on value-based and competitive pricing, focus on digital marketing and industry engagement, focus on technical education and collaborative promotion, focus on it and telecommunication applications.

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