The global wire and cable management market will reach $16.9 billion in 2018

MarketsandMarkets, an international market research institution, recently released a report that the global wire and cable management market is expected to reach a market size
of $16.
91 billion in 2018.

With the growing demand from the IT sector and increasing investments in infrastructure, especially in developing countries in Asia Pacific and the Middle East, the market is expected to grow
at a CAGR of 8.
36% from 2018 to 2023.

The report segments the wire and cable management market into power cables and communication cables
based on cable type.
Driven by investment growth in the renewable energy and power distribution industries, the power cable market led the wire and cable management market
in 2017.

The global wire and cable management market is segmented on the basis of material and non-metallic
.
By 2023, the growth rate of metal wire and cable is expected to be higher than that of non-metal.

Metal cable management products are widely used in applications that require high-strength materials, durability, and installation in
harsh environments.
The number of installations of metal cable management products is expected to increase significantly during
the forecast period, driven by efficiency gains and increasing investments in the industrial sector.

The report further segments the end-user wire and cable management market into commercial, industrial, and residential
.
The commercial sector is expected to grow
at the highest CAGR during the forecast period.
The growth of urban population, increasing investment in the construction industry, and the demand for data centers that can easily handle data cables are driving the business sector, especially in developing countries
such as India, Saudi Arabia, Thailand, Vietnam, Malaysia, etc.

In this report, the wire and cable management market also analyzes five regions, namely Asia Pacific, Europe, North America, South America, Middle East, and Africa
.
Asia Pacific is expected to dominate the wire and cable management market during the forecast period, mainly due to increasing investments in renewable energy in India and Southeast Asian countries and increasing industrialization
in the region.

It is important to note that price fluctuations of raw materials such as rubber, aluminum, copper, and plastics will be the primary factor
restraining the growth of the wire and cable management market.
These raw materials are not only raw materials for wire and cable, but also for manufacturing cable management products, such as cable trays, ladders, cable runways, cable ties, etc
.
Raw material prices directly affect the value chain, which includes procurement and operating costs
.

In terms of enterprises, Legrand of France, Eaton of Ireland, Obo Bettermann of Germany, Panduit and Atkore of the United States will become the world's leading wire and cable management market suppliers
.