June 14, 2022 06:05 ET | Source: Fortune Business Insights Fortune Business Insights
Pune, India, June 14, 2022 (GLOBE NEWSWIRE) -- The global cable tray market size was valued at USD 2.75 Billion in 2018 is projected to reach USD 5.46 Billion by 2026, exhibiting a CAGR of 9.06% during the forecast period. The global cable tray market is likely to derive growth from the growing power needs and increasing number of sub-stations across the world. According to a report published by Fortune Business Insights, titled “Cable Tray Market Size, Share & Industry Analysis, By Type (Ladder, Solid Bottom, Trough, Channel, Wire Mesh, Single Rail), By End-User (Power, Construction, Manufacturing, IT & Telecom, Others), By Material (Steel, Aluminium, Stainless Steel), and Regional Forecast, 2019-2026”.
The rising global population has led to a subsequent increase in the demand for basic necessities. As a result, industries and manufacturing units are being set up across the world. The growing industrialization, combined with the increasing number of IT and communication centres and corporate offices, will set the platform for a widespread adoption for cable tray market across the world.
Request a Sample Copy of the Research Report: https://www.fortunebusinessinsights.com/enquiry/sample/cable-tray-market-101529
IT and Telecom Sector to Exhibit High Growth Rate
The increasing need for power utilities has, in turn, created the need for power cables and other products associated with sub-stations. Growing power needs will provide several growth opportunities for the cable Tray market. Increasing investment in power substations will help these companies generate substantial cable Tray market revenue. Additionally, the increasing need for technological facilities and data centres to enable enhanced virtual support will aid the growth of the IT and telecom segment.
Cable tray allows safe transportation of wires that are used to transmit electricity. Besides power transmission, cable Tray can be helpful in cases of overvoltage and overcurrent. Cable Tray will help minimize the exposure to open wires, thereby reducing risks and injuries associated with open wire contacts. Such exceptional properties of cable Tray will lead to a rising adoption for the product across the world, which in turn will favor the growth of the global cable Tray market in the coming years.
The report is based on extensive research on the market and its growth parameters, including drivers, restraints, challenges, and opportunities in the market. It also includes the table of segmentation, along with a list of segments dominating the market and its attributed factors. The report throws light on the significant industry developments, current Cable Tray Market trends, and other interesting insights offered by the market. For more information on the market, log on to the company website.
Click here to get the short-term and long-term impacts of COVID-19 on this Market. Please visit: https://www.fortunebusinessinsights.com/industry-reports/cable-tray-market-101529
Aluminium Segment to Account for a Dominating Cable Tray Market Share
Among the product types, Fortune Business Insights labels the aluminium type as the segment that holds a dominating share of the global cable Tray market. The properties of aluminium such as enhanced load bearing capacity and a high strength to weight ratio has led to a rising adoption for the product across the world. Additionally, the low maintenance cost associated with aluminium will contribute to the growing adoption of the product. Due to the aforementioned factors, the aluminium segment is likely to exhibit a high CAGR in the forecast period.
The report provides an in-depth analysis of the global cable Tray market with regard to aspects such as leading companies, growth drivers, and leading product types. Additionally, the report provides a detailed study of the market by classifying it into various regions. The report highlights a few of the leading business strategies adopted by the companies operating in the global market and states the impact of these strategies on the growth of the market.
Quick Buy - Cable Tray Market Research Report: https://www.fortunebusinessinsights.com/checkout-page/101529
List of Players Operating in the Cable Tray Market are as follows:
Have Any Query? Ask Our Experts: https://www.fortunebusinessinsights.com/enquiry/speak-to-analyst/cable-tray-market-101529
4.1. Key Industry Developments - Merger, Acquisitions, and Partnerships
4.2. Porter’s Five Forces Analysis
4.6. Impact of COVID-19 on Cable Tray Market
5. Global Cable Tray Market Analysis, Insights and Forecast, 2017-2028
Get your Customized Research Report: https://www.fortunebusinessinsights.com/enquiry/customization/cable-tray-market-101529
Fortune Business Insights™ offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them to address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Fortune Business Insights™ Pvt. Ltd.