LONDON--(BUSINESS WIRE)--Aug 8, 2018-- analysts forecast the global cable tray market to grow at a CAGR of over 9% during the forecast period, according to their latest market research report.
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Technavio has published a new market research report on the global cable tray market from 2018-2022. (Graphic: Business Wire)
The building automation systems (BAS) is one of the major trends being witnessed in the . Building automation systems that control and monitor HVAC and other facilities of a given building are getting improved with computing and digital communication tools, which allow them to enhance energy efficiency.
According to Technavio analysts, one of the key factors contributing to the growth of the global cable tray market is the growing preference for cable trays over conduits:
Global cable tray market: Growing preference for cable trays over conduits
Cable conduits have been the preferred choice for cable management in commercial and industrial facilities. They are usually of three types including rigid metal conduit, intermediate metal conduit, and electrical metallic tubing. Conduits enclose the cables completely and therefore, provide excellent protection from electromagnetic interferences.
According to a senior analyst at Technavio for research on engineering tools, “Cable trays provide advantages over cable conduits in terms of design complexity, installation simplicity, and low cost. Cable trays include fewer components when compared with cable conduits and thus, require less material.”
Global cable tray market: Segmentation analysis
The global cable tray market research report provides market segmentation by product (channel cable trays, ladder cable trays, single rail cable trays, solid bottom cable trays, and trough cable trays), by end-user (commercial, industrial, and residential), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major end-users, the commercial segment held the largest market share in 2017, contributing to over 40% of the market. This end-user segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2017, accounting for close to 40% share. It was followed by EMEA and APAC respectively. The APAC region will project the highest growth during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket sizing Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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SOURCE: Technavio Research
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PUB: 08/08/2018 12:05 PM/DISC: 08/08/2018 12:05 PM