New York, United States, May 14, 2024 (GLOBE NEWSWIRE) — The Global Wire and Cable Management Market Size is to Grow from USD 25.20 Billion in 2023 to USD 57.24 Billion by 2033, at a Compound Annual Growth Rate (CAGR) of 8.55% during projected period.
On the basis of product, the global wire and cable management market is divided into trays & ladders, raceway, connectors, ties, and conduit. Among these, the trays & ladders segment is anticipated to hold the greatest share of the global wire and cable management market during the projected timeframe. The growth can be attributed to the trays and ladders are an affordable solution for wire and cable management due to their ease of installation, preventing downtime and personnel costs.On the basis of cable type, the global wire and cable management market is divided into power cable, communication wire & cable. Among these, the power cable segment is predicted to hold the greatest share of the global wire and cable management market during the estimated period. The segmental growth can be attributed to the Increased investment in renewable energy sources and the electricity distribution sector.On the basis of material, the global wire and cable management market is divided into metallic and non-metallic. Among these, the metallic segment is predicted to hold the greatest share of the global wire and cable management market during the estimated period. The segmental growth can be attributed to metallic cable management systems are frequently utilized in applications that need high material strength, durability, and installation in extreme locations.Asia-Pacific is expected to hold the largest share of the global wire and cable management market over the forecast period. The rising construction sector, together with greater investment in energy and utilities, is boosting demand for efficient cable solutions. The enormous population base, rapid urbanization, infrastructure development, and favorable government initiatives all present excellent opportunities for market players to expand in the region of Asia-Pacific. Renewable energy sources, smart cities, and IoT usage all contribute to increased demand for specialty cables. The region’s excellent communication and power infrastructure is essential for these technologies.In January 2024, This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global wire and cable management market based on the below-mentioned segments:
(GlobeNewsWire)