Cable Cleats Market Size, Share, Growth, and Industry Analysis, By Type (Single Type, Multicore Type, and Trefoil Type), By Application (Power & Energy, Communication, Construction and Manufacturing Industry, Gas & Oil Industry and Others), Regional Insights, and Forecast From 2024 To 2031

Updated On: 08 April 2024

Cable Cleats Market Report Overview

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The global cable cleats market size is USD 286.3 million in 2022 and is projected to touch USD 387.04 million by 2031, exhibiting a CAGR of 3.4% during the forecast period.

Devices designed to ensure the support and retention of cable users globally are called cable cleats. It offers useful short circuit support, protection, and retention to high, medium, and low-voltage cable systems. It also helps in securing electrical installation. These are made of standard-quality raw materials, with reinforced polyamide raw materials as the main component. These cleats are bio-degradable, non-conductive, non-magnetic, and easy to install. Moreover, these are resistant to heat, acids, corrosion, UV, heat, and oils. It does not include sharp angles and is made of non-metallic and metallic materials.

Products used to secure the retention and support of cables are referred to as cable cleats. These are frequently used in a wide range of end-use applications, including information technology and communications, business, industrial, energy and utility, transportation, and mining and metal. The market for cable cleats is anticipated to increase steadily over the coming years as a result of the continued growth in electrification and infrastructural development. The global construction industry is the primary driver of cable cleat market expansion. The main applications for cable cleats are commercial and industrial structures, power lines, and transportation. The need for associated cable management solutions (such as cable cleats) is anticipated to continue growing as these construction sectors continue to grow.

COVID-19 Impact: Availability of a Minimal Workforce Impeded Growth in the Market

The global COVID-19 pandemic has been unprecedented and staggering, with cable cleats experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The spike in CAGR is attributable to cable cleats market growth and demand returning to pre-pandemic levels once the pandemic is over.

The pandemic outbreak forced the government to declare a worldwide health emergency. It adversely negatively impacted all industries. The industries were shut down owing to government instructions. A minimal workforce was working during the lockdown, which affected the manufacturing rate in the industries. The availability of a minimal workforce led to lower product supply and resulted in a decline in the production rate. The pandemic affected the supply chain and disrupted market stability. The construction projects were also kept on hold, which hampered the growth rate during the pandemic. 

LATEST TRENDS

"Rising Demand for Products in Electrical Applications to Propel Market Growth"

A cable cleat is intended to guarantee that lines are properly secured, maintained, and supported so that they can be contained without being damaged. Since they are so important in preventing cable damage from short circuits, cleats of cable are widely utilized in power generating and allocation applications. In the power industry, and are used to retain high, medium and low voltage cables, including 11kV/33kV MV-HV power cables, in short circuits. Due to its critical role in various electrical applications, developing nations are concentrating on producing cable cleats in accordance with international standards to reduce the risk to mortal life where electric cables are used. These factors are anticipated to foster market growth. It plays an important role in the market due to the rising focus of countries on the manufacturing of the product, which is estimated to augment product demand. 

Cable Cleats Market Segmentation

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• By Type Analysis

By type, the market is segmented into a single type, multicore type, and trefoil type. 

• By Application Analysis

Based on application, the market is classified into power & energy, communication, construction and manufacturing industry, gas & oil industry, and others. 

DRIVING FACTORS

"Product Application in Power Generation to Foster Product Demand"

The market is anticipated to develop as their application in power generating and distribution systems increases. These cleats are used in the power industry to clamp and hold low, medium, and high voltage in the event of a short circuit. The cable cleats are also useful in a variety of applications, including IT and communications, industrial, commercial, energy, utility, transportation, metal, mining, and others. These characteristics all contribute to an increase in demand for cable. These factors are expected to propel growth in the market. 

"Rising Security Concerns and Expanding Construction Sector to Boost Growth"

The cable cleats market growth is expected to be backed by the steady growth of the building industry worldwide. The principal applications for this product include industrial structures, commercial structures, power lines, and transportation. Additionally, because cable cleats lessen physical stress on the cables, they last longer. As a result, it is projected that the growth of the construction industry will propel the market. Safety is one of the most important aspects that need to be guaranteed in power and distribution applications. These cleats are crucial for safeguarding the cables since they guarantee their safety in the event of short circuits or other accidents.

RESTRAINING FACTORS

"Volatility in the Price of Raw Materials to Hamper Market Growth"

The price of raw materials is fluctuating, which is expected to create challenges in the growth of the market. The price of rubber and plastics-based ingredients is fluctuating, which may limit the cable cleats' market growth. 

Cable Cleats Market Regional Insights

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"Asia Pacific to Lead the Market Due to Expanding Commercial and Transportation Sectors"

Asia Pacific is forecasted to hold a major part of the cable cleats market share owing to the expanding transportation and commercial infrastructure in the region. Developing economies such as India, China, and Japan foster a major part of the growth in the region. 

North America is anticipated to show significant growth in the regional market attributable to the rising awareness of brands among the general population. 

KEY INDUSTRY PLAYERS

"Key Players Focusing On Innovative Technology Development to Grow in Market"

The cable cleats market is fragmented into various sized companies, including small-size, medium-sized, and large-sized. The key market players are adopting organic and inorganic growth ventures coupled with mergers, agreements, and contracts between key players. The companies are striving to gain popularity in the global market to gain growth in the market.  The key companies are striving to adopt advanced technology and growth strategies to enhance their product portfolio. The key competitors are trying to gain collaborations and mergers in the market. Companies strive to gain a higher market share by launching new products. 

List of Market Players Profiled

• CMP Products (U.K.)
• Prysmian Group (Italy)
• Ellis Patents (U.K.)
• Panduit (U.S.)
• Eaton (Ireland)
• Dutchclamp (Netherlands)
• KOZ Products BV (Netherlands)
• Axis Electrical Components (India)
• Emelec (U.K.)
• SS Engineering India (India)
• BICC Components (U.K.)
• Novoflex Marketing (India)
• Oglaend System (Norway)
• Nantong Naco Fluid Equipment (China)

REPORT COVERAGE

An overview of the product is provided along with the product description. Numerous industry elements are included in the research. The market insights are prepared by utilizing large sample sizes for data-gathering modules. The study provides in-depth market insights. The stage includes gathering market data or related data using a variety of sources and tactics. It involves going over and organizing all the information gathered during the previous advance. It also covers the investigation of information discrepancies found across various information sources. Market statistical and coherent models are used to assess and estimate market data.