As per Future Market Insights, the cable racks market is anticipated to attain a value pool of US$ 3 billion by 2023-end. As per the report, global demand for cable racksis expected to rise at a CAGR of 9% to US$ 7 billion in 2033.
Data Points
Key Statistics
Expected Market Value of Cable Racks in 2023
US$ 3 billion
Projected Market Value of Cable Racks in 2033
US$ 7 billion
Growth Rate (2023 to 2033)
9% CAGR
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Untangling the Growth: Top Drivers Fuelling the Expansion of the Cable Racks Market
Growing demand for data centres: The demand for data centres is increasing due to the rapid growth of data-intensive applications such as cloud computing, big data analytics, and artificial intelligence. Cable racks are essential components of data centres and provide efficient cable management, which is driving the demand for cable racks
Expansion of the telecommunications industry: The telecommunications industry is expanding, driven by the increasing demand for high-speed internet and mobile connectivity. Cable racks are essential components of telecommunications infrastructure and are used for organizing and managing cables, which is driving the demand for cable racks.
Emphasis on cable management: Proper cable management is essential for maintaining the efficiency and reliability of data centres and telecommunications networks. Cable racks play a critical role in cable management, and as a result, there is a growing emphasis on the use of high-quality cable racks that are designed to meet strict performance and safety standards.
Connecting for Growth: Top Opportunities in the Cable Racks Market to Drive Business Success
Growing demand for cloud computing: The demand for cloud computing is growing rapidly, and this presents a noteworthy opportunity for the cable racks market. Cable racks are essential for organizing and managing cables in data centres that support cloud computing applications.
Increasing demand for modular data centres: Modular data centres are becoming increasingly popular due to their flexibility and scalability. Cable racks are an essential component of modular data centres, creating substantial opportunities for the cable racks market to provide innovative and customizable cable management solutions.
Expansion of 5G networks: The expansion of 5G networks presents an eminent opportunity for the cable racks market. Cable racks will play a critical role in managing the complex and high-density cabling infrastructure required to support 5G networks, creating opportunities for cable rack manufacturers to provide specialized solutions for this growing market.
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Streamlining Cable Management: Top Trends Shaping the Future of Cable Racks for Data Centers and Telecommunications Networks
Modular designs: Cable racks with modular designs are becoming increasingly popular in the market. These racks allow for easier customization and reconfiguration as the needs of data centres or telecommunications network change.
Increased adoption of fiber optic cables: The adoption of fiber optic cables is on the rise due to their superior performance characteristics. As a result, there is a growing trend toward the use of cable racks that are specifically designed to manage fiber optic cables.
Rise of edge computing: Edge computing is becoming increasingly popular as a way to reduce latency and improve application performance. This trend is creating new opportunities for the cable racks market, as cable racks are essential for managing the cabling infrastructure in edge computing facilities.
Increasing demand for energy efficiency: Energy efficiency is becoming an increasingly important consideration in the design and operation of data centres and telecommunications networks. There is a growing trend towards the use of cable racks that are designed to minimize heat build-up and reduce power consumption, helping to improve energy efficiency and reduce operating costs.
Steady rise in industrial infrastructure, including manufacturing sectors, power generation and IT & telecommunication centers is expected to contribute towards the growth of the market.
What is Driving Demand for the Cable Racks Market
Cable racks are used in the electrical wiring of buildings, for supporting insulated electrical cables which is then used for power control, distribution and communication.
Demand from commercial buildings incorporating power supply provision is deemed to be a key end use of the device. With hefty new construction projects as well as refurbishment jobs spanning offices, airports, shopping centers, etc. the cable racks market is set to get a boost from the mentioned sector.
They are also a feasible solution for supporting requirements of power, electric signals, and instrumentation control and in communication cables. Moreover, the availability of cable racks in several styles and sizes which make them flexible and convenient for changes in wiring systems, which is further expected to boost the growth of the market. Also, substantial demand from industrial facilities and warehouses are likely to support the market growth.
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Growing Demand From Construction Industry to Boost the Sales of Cable Racks
High demand in the construction industry, due to rapid urbanization and rising investments in industrial infrastructure is anticipated to grow the market. The racks are utilized during the installation of new cables. It provides huge benefits as a cable management product for wiring systems across various industries.
They are also hugely adopted in industrial and commercial infrastructure for distributing a large amount of electricity in any equipment, also by resisting fire in spite of carrying heavy loads.
How is Asia Pacific Proving as an Attractive Region for The Growth of the Cable Racks Market
Growth in industrialization, higher migration to urban areas and depleting space are the factors driving the demand for the market. Lower space and the requirement of efficient insulation of electric cables without any damage to cables is also anticipated to increase the size of the market in the region.
Investments in emerging information technology and telecommunication in developing economies of India and China will further propel the market.
USA - A lucrative Country for High Growth of the Cable Racks Market
A high presence of large IT companies such as AOL, Yahoo, Facebook, and Google amongst many others, and stringent organizational policies for operations of workplaces and safe monitoring will favor the growth of the market in USA.
High developments and investments in residential, commercial and industrial infrastructure in the country will also contribute towards the growth of the market in the same.
Who are the Key Manufacturers and Suppliers in the Cable Racks Market
Some of the leading manufacturers and suppliers of Cable racks include
Eaton Corporation
Legrand
Schneider Electric
Thomas and Betts
Atkore International
Hoffman, MP Husky
Oglaend System
Techline Manufacturing
Chalfant Manufacturing Company
RS Pro
Marco Cable Management
Unitrunk
Chatsworth Products
Panduit
Enduro Composites
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments.
The report also maps the qualitative impact of various market factors on market segments and geographies.
