Cable Management Accessories Market to Witness Robust Growth in the Asia Pacific, especially in India

Cable management refers to the management of electrical or optical cable in a cabinet or an installation. The management both supports and contains cables during installation, and makes subsequent maintenance or changes to the cable system easier. Whereas, cable management accessories are physical systems help minimize planning process by adequately maintaining documented physical networks. Moreover, these accessories play an important role in various industrial applications to ensure high productivity and avoid financial losses. These accessories also provide safety, functional flexibility, and high performance. Thus, there is an increasing demand for cable management accessories worldwide.

The aforementioned factors are expected to augment the growth of the cable management accessories market. Market players are focused on introducing accessories with lightweight yet durable materials to meet the increasing demand. Moreover, growth of the cable management accessories market is driven by the increasing demand for energy and constant investments in infrastructure. The demand for energy is constantly rising worldwide. This increased demand is caused in part by the increase in population, and by economic development. According to the International Energy Agency (IEA), the global energy demand is set to increase by 4.6% in 2021, more than offsetting the 4% contraction in 2020 and pushing demand above 2019 levels.

There is an increasing demand for electricity in emerging economies such as Russia, Brazil, China, and India, in turn is expected to propel the growth of the cable management accessories market in the aforementioned regions. Some of the major materials used to manufacture such accessories are plastics, aluminum, copper, and steel, among others. However, the prices of some materials, particularly steel and plastics, have been volatile. Such volatility allows cable management accessories manufacturers to continue to produce at optimum prices, this in turn, increases the prices of the end products. This in turn is expected to restrain the growth of the cable management accessories market.

Managing cables or wires helps to maintain basic functionality and also protect the devices from the clogged airflow due to unorganized and disordered wires. The growth of the cable management accessories market is also attributed to the rapid developments in the information technology sector. According to the India Brand Equity Foundation (IBEF), over the years, the Information Technology industry has become one of the fastest growing industries worldwide, especially in India. Thus, there is an increasing demand for cable management accessories.