The wire mesh cable tray market has demonstrated strong growth, increasing from $0.74 billion in 2023 to $0.79 billion in 2024, achieving a CAGR of 6.3%. This growth is attributed to the demand for efficient cable management solutions and the expansion of data centers. The market is projected to grow to $1.01 billion by 2028, with a CAGR of 6.5%. Future trends include technological advancements and the emergence of 5G technology.
Major Driver In The Wire Mesh Cable Tray Market
The wire mesh cable tray market is expected to benefit from the growing demand for trays in the construction industry. This demand is driven by a focus on infrastructure development and increased government investments. Wire mesh cable trays are essential for efficient cable management in electrical systems. The Office for National Statistics noted a record 12.7% increase in the annual construction sector in 2021, with the market valued at $1 billion in 2023 and projected to grow to $1.3 billion in 2024 and $2 billion by 2028.
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Wire Mesh Cable Tray Market Competitive Landscape
ABB Ltd., Hubbell Incorporated, Eaton Corporation, Legrand SA, Atkore International Inc., Panduit Corp., Chatsworth Products Inc., PUK Group, Oglaend System, MP Husky Corp., Pemsa SA, Marco Cable Management, Unitrunk, Quest Manufacturing Inc., Calpiping Industries LLC, TechLine Mfg, Profab Engineering Pvt. Ltd., Gerpaas, Schneider Electric SE, Navagraha Enterprises, Cablofil Inc., The Niedax Group, Patny Systems Pvt. Ltd., nVent, Elcon Group
Key Wire Mesh Cable Tray Market Trend
In the wire mesh cable tray market, major companies are innovating with products like basket cable trays, which cater to customer needs through advanced features. These lightweight, open-grid structures made from high-strength steel wires are designed to support and route electrical and data cables while providing excellent ventilation and maintenance access. In January 2024, Panduit Corp., a U.S.-based provider of infrastructure solutions, launched the Wire Basket Cable Tray Routing System, specifically engineered for managing copper data cables, fiber optics, and power cables in data centers and industrial settings. Its innovative design enhances the strength-to-weight ratio compared to competitors, facilitating quicker installation and creating a safer environment for network engineers.
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Wire Mesh Cable Tray Market Segmentation
The wire mesh cable tray market covered in this report is segmented –
1) By Type: Electro Zinc (EZ) Wire Mesh Cable Tray, Hot Dip Galvanized (HDG) Wire Mesh Cable Tray, Aluminum Wire Mesh Cable Tray, Stainless Steel Wire Mesh Cable Tray, Other Types
2) By Duty Type: Light Duty, Medium Duty, Heavy Duty
3) By Width: Below 100 Millimeter (Mm), 101 Millimeter (Mm) To 300 Millimeter (Mm), 301 Millimeter (Mm) To 500 Millimeter (Mm), 501 Millimeter (Mm) To 700 Millimeter (Mm), Above 700 Millimeter (Mm)
4) By Sales Channel: Direct, Indirect
5) By Application: Data Center Or Computer Room, Office, Factory, Other Applications
By Geography:The regions covered in the wire mesh cable tray market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
Asia Pacific was the largest region in the wire mesh cable tray market in 2023. North America is expected to be the fastest-growing region in the forecast period.
The Wire Mesh Cable Tray Global Market Report 2024 furnishes information about the global wire mesh cable tray market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
