Cable management accessories are physical systems that help to minimize planning process by adequately maintaining documented physical networks. These accessories are crucial in the majority of industrial applications to avoid financial losses and ensure high productivity. Company owners, especially from manufacturing domain, invest significantly in high-end cable management systems to maintain efficient electrical services in organizations. By reassessing surplus items, cable management accessories aid in improving lifecycle of data assets of telecommunications. Moreover, these systems manage telecommunication inventory to provide organizational efficiency. Cable management accessories also provide enhanced performance, functional flexibility, and safety. Moreover, these accessories help to avoid business damages. Manufacturers in the market are introducing novel accessories with lightweight yet durable materials, especially for the aerospace industry.
The global cable management accessories market was valued for US$ 1573.5 Mn in 2019 is expected to exhibit a CAGR of 7.9% during the forecast period.
In majority of developed countries, electrical grid infrastructure is reaching its end of service lifespan, after strong investments that were made in the sector in the 1970s. A transformer has an average life span of 25 to 30 years. The outdated equipment is unsuitable for the present generation's environmental and technological standards. As a result, there is a continuing demand for more efficient and compatible infrastructure in order to reduce the environmental impact of pollution. Furthermore, governments in several countries are working to increase the lifespan of transformers beyond the existing average of 20 years. However, there is a pressing need to replace outdated equipment and infrastructure with more appropriate and efficient units. As a result, the renewal and replacement of existing infrastructure is projected to drive growth in the global cable management accessories market in the near future.
Major players operating in the global cable management accessories market include Partex Marking Systems USA, Cooper Wiring Devices (Eaton Corporation), Schneider Electric SE, Chatsworth Products, Inc., Legrand SA, Weidmuller Interface GmbH & Co. KG, Thomas & Betts Corporation, Anixter Inc., HellermannTyton Group PLC, Panduit Corp., TE Connectivity Ltd., Cembre SpA, Klauke GmbH, and CableOrganizer.com LLC.
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