This led to the shutting of production activities, leading to a decline in demand that led to disruptions in supply chains. According to the World Bank, the global construction sector contracted by 3.1% in 2020.Īfter imposing rules by the government bodies globally, trade activities were shut down. In addition, the pandemic put a halt on global supply chains, resulting in shortages and price increases for equipment and materials needed for the trays. COVID-19 IMPACTĬOVID-19 Pandemic Significantly Impacted the Market Growth Considering the Decreased Product Demandĭue to lockdowns and government restrictions on mobility and workforce, many construction projects and power plant installations, which use a huge cable tray, were delayed. Almost all types of cables are sorted and maintained with the help of cable trays as an option to open wiring systems or electrical conduits. It provides wiring simplicity, system design flexibility, and lower installation cost to the consumer. The trays are essential for cable managing, organizing cables, and conserving the infrastructure carrying electricity. The market is projected to grow from USD 4.81 billion in 2023 to USD 12.07 billion by 2030, exhibiting a CAGR of 14.05% during the forecast period. The global cable tray market size was valued at USD 4.13 billion in 2022.
