Industrial revolution that is taking place all across the world has facilitated the growth of a lot of B2B manufacturing sectors. With increasing demands in infrastructure, there is a growing necessity of heavy wiring as well. This is where the cable tray market is gaining acceptance all over the business ecosystem. Cable trays act as a primary requirement in heavy wiring systems. They prevent the mix up of cables and restrict them from getting over heated. During the forecast period of 2019-2023, the global market for cable trays is likely to grow at a CAGR of nine percent and achieve a net market value of $3.24 Billion.
The industrial cable tray market is a very fragmented one and has been said to get more during the forecast period. There are several technological sectors that will put volumes of cables trays into use. If we first talk about the construction and infrastructure industry, there is a huge potential for the cable tray market to grow as a whole.
Because, in the B2B sector, strategic business alliances are primary, all the cable tray manufacturers have started catering to more and more sectors and improving brand visibility. The fact that industrialization has picked its pace in India and businesses from all across the world are trying to set up offices in here is acting as an advantage for all the native cable tray manufacturers.
The sector of construction and infrastructure is growing by the day. And as new structures are getting built, there is also a growing necessity for electrical wiring. This is where the cable tray segment comes to place. It is very evident that gigantic electrical wiring systems require quality cable trays which are heat resistant and can provide strong support to all the wiring connections in a big building. The construction and the infrastructure companies require huge supplies of perforated cable trays and normal cable trays for the proper implementation of electrical wiring systems in buildings and offices. The innovation of new generation wiring systems is also a driving factor for the growth of the global cable tray market.
Cable tray types vary on their use cases. There are normal cable trays available in the market that is used generally used for small scale wiring and there are perforated cable trays in the market which can be termed as industrial cable trays that are used for heavy wirings. They are mainly used for industrial grade wiring system implementations. On the other hand, the advent 5G mobile networks are also one of the major factors driving the growth of the cable tray market globally.
Advanced wiring systems that include new generation cables need proper management and prevention from future damage which is why cable trays are used to keep all systems safe and secure at all times. Not only will it improve the stability of the network but also will save heavy wiring from any potential damage.
Moreover, innovation of advanced cloud management systems, IoT implementations and AI implementations need a lot of wire management from the root source. These systems make processes wireless but for the implementation of these systems, a lot of wiring is necessary which makes cable trays an integral part of these systems. Most of the cable tray manufacturers in India are focusing more into quality production and creating strategic business alliances and taking this market forward.