Albany, NY -- (SBWire) -- 04/20/2018 --The competitive landscape of the global cable management accessories market features a high level of fragmentation, especially in regional pockets, says Transparency Market Research (TMR) in a recent report. Local players have a stronghold on regional markets and pose intense competition and entry barriers for international companies. TMR identifies product development through continuous innovation and attempts for consolidation with prominent regional players across emerging economies as the key to success in the market.
"Increasing investments aimed at product innovation and development is a key strategy adopted by most leading vendors in the market. So as to survive the stiff competition in the global market, companies are aligning their expansion strategies towards the emerging economies, which have demonstrated excellent growth opportunities in the industrial and construction sector," a TMR analyst quotes.
Some of the leading players in the market are Schneider Electric SE, Thomas & Betts Corporation (ABB Ltd), Legrand SA, TE Connectivity Ltd., and HellermannTyton Group PLC.
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Infrastructure Development Activities in MENA to Boost Opportunities for Cable Management Accessories
There has been a huge surge in the number of new infrastructure development projects in the Middle East and North Africa in the past few years. This has favored the growth of many industries, including the cable management accessories industry. In the next few years, these construction projects across countries such as Qatar, UAE, and Saudi Arabia will present the demand for increased volumes of cable lugs, heat shrink tubes, and cable markers to support the expanding networks of a variety of cables.
Infrastructure development activities across emerging countries in Latin America and Asia Pacific will also stimulate the consumption of a variety of cable management accessories in the next few years. The recovering construction industry in European countries post the recent economic depression is also slated to present lucrative growth opportunities for the market in the next few years.
Rising Demand for Energy to Drive Development of Power Generation and Transmission Infrastructure
The overall global investment in the power generation and transmission infrastructure has significantly increased in the past few years. Owing to the mounting global demand for electricity, especially across developing regions, sweeping developments will be observed in the power sector in the next few years. The installation of new transmission lines, upgrade of existing grid infrastructures to support the constantly rising power loads, and inclusion of renewable sources in existing transmission systems will boost the cable management accessories market in developing regions.
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Cable Management Accessories Market: Rapid Industrialization Stokes Demand
Infrastructural Development of Power Sector to Fuel Global Cable Management Accessories Market