Cable Tray Market Expected to Reach $9.2 Billion by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Cable Tray Market," The cable tray market value was $5.0 billion in 2022, and is estimated to reach $9.2 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

A cable tray is a structure used in the construction industry to support and manage electrical cables and wires. It is designed to organize and protect these cables, keeping them secure and easily accessible for maintenance or future installations. They are commonly made of metal or other materials and are used in various settings, such as commercial buildings, industrial facilities, and data centers. They come in different types such as ladder, trough, and wire mesh trays, offering versatility in cable management solutions.

As technology evolves in cables and wiring systems, cable trays need to adapt to accommodate newer, specialized cables used in telecommunications, data centers, renewable energy, and other emerging sectors. In addition, growth of industries such as manufacturing, oil and gas, telecommunications, and IT, the need for efficient cable management systems becomes crucial. Cable trays provide an organized and safe way to manage extensive wiring systems in these sectors. All these factors increase the demand for cable trays during the forecast period.

However, the high installation costs associated with cable trays are significant restraints for some customers. This is especially true for large-scale projects that require extensive cable tray networks. In addition, cable tray systems need fitting tools, skilled labor, accurate measurement, specialized installation techniques, and others. The installation of such systems needs additional materials, such as elbow fittings, brackets, wall mounts, fasteners, and supports, which add to the system total cost. All these factors hamper the cable tray market growth.

Industries such as manufacturing, oil and gas, pharmaceuticals, and automotive sectors require robust cable management systems due to the complex and extensive wiring in their facilities. Cable trays provide a reliable solution for these industrial settings. In addition, increasing focus on renewable energy sources such as solar and wind power, there is a growing need for effective cable management solutions.

Cable trays provide a structured way to manage the extensive wiring systems in solar farms, wind turbine installations, and other renewable energy projects. All these factors are anticipated to offer new growth opportunities for the cable tray market during the forecast period.

The cable tray market size is segmented on the basis of type, material, finishing, application, and region. By type, the market is segmented into ladder type cable trays, solid bottom cable trays, trough cable trays, channel cable trays, wire mesh cable trays, single rail cable trays, and others. The ladder type cable trays segment accounted for 25.2% cable tray market share in 2022 and is expected to maintain its dominance during the forecast period.

By material, the market is classified into aluminum, steel, stainless steel, and others. The aluminum segment accounted for major market share in 2022 and is expected to maintain its dominance owing to recent Cable Tray Market Trends. By finishing, the market is segmented into galvanized coatings, pre-galvanized, hot-dip galvanized, and others. The galvanized coatings segment accounted for highest market share in 2022 and is expected to maintain its dominance during the cable tray market forecast period.

By application, the market is divided into power, construction, manufacturing, IT & telecommunication, and others. The construction segment accounted for one-third of the  cable tray market share in 2022 and is expected to benefit from several cable tray market opportunities. Region-wise, the cable tray market analysis is done across North America, Europe, Asia-Pacific, and LAMEA. On the basis of region, Asia-Pacific accounted for major market share in 2022 and is expected to maintain its dominance during the forecast period.

Key players in the cable tray industry include ABB Ltd., Atkore Inc. Basor Electric S.A, Chatsworth Products, Inc. Eaton, Hubbell Inc. Legrand, Niedax Group, OBO Bettermann Holding GmbH & Co. KG, and Superfab Inc.

Recent Developments In Cable Tray Market:

• In April 2023, Chatsworth Products launched manufacturing of its industry leading zetaframe cabinet in Asia-Pacific region. Through this, the company expanded its product portfolio in the Asia-Pacific region.
• In January 2021, the Niedax group acquired MonoSystems, a prominent manufacturer of cable management systems. It helped to increase Niedax group’s portfolio in the North America market.
• In September 2023, Legrand collaborated with Microsoft to develop an innovative hybrid conferencing environment. It enhances living and working spaces by introducing inventive products and solutions that effectively handle power, lighting, and data management.

Key Findings Of The Study:

• By type, the ladder type cable tray segment is anticipated to grow with CAGR 6.6%, in terms of revenue, during the forecast period.
• By material, the aluminum segment is anticipated to grow with CAGR 6.3%, in terms of revenue, during the forecast period.
• By finishing, the galvanized coatings segment is anticipated to grow with high CAGR, in terms of revenue, during the forecast period.
• By application, construction is projected to grow at the highest CAGR, in terms of revenue, during the forecast period. 
• Asia-Pacific dominated the cable tray market share with more than 40% in 2022.