Industry News

The construction industry has been expanding rapidly in recent times, especially in emerging countries such as China, Brazil, India, etc. Population growth, urbanization, and rising disposable income have fueled construction activities. These constitute the development of infrastructure such as roads, new buildings, bridges, etc. With the growth in construction activities, the demand for electrical and communication wiring systems has been growing. These trays are the essential components that support these wiring systems, making them an essential part of any construction project. Hence, the growth of the cable tray market is due to the growing demand for cable trays in the construction industry.

In recent years, renewable energy has been adopted in many regions due to its application. Various energy sources such as wind power, hydropower and solar power require strong network resources. Cable trays play an important role in the network construction of wiring systems.

The recent shift towards renewable energy sources is a major driver for the cable tray market. Furthermore, challenging remote locations, such as offshore wind farms, require a large number of cable tray systems to manage the network. Such renewable energy projects are supporting the cable tray market, which is likely to continue to grow in the coming years.