Australia Cable Tray Market size is anticipated to grow at a CAGR of 8.3% during 2023-2029

Steel cable tray segment on the basis of material types registered the highest revenue share in Australia Cable Tray Market – 6Wresearch

The steel cable segment acquired the largest revenue share in the market and during the forecast period, the steel cable tray material is projected to hold a significant share. This is attributed to its enhanced load-bearing capacity, high strength-to-weight ratio, and low maintenance requirements, which are key properties driving the growth of this segment. Aluminum cable tray is also expected to register substantial growth in the forecast period due to its growing usage in the mounting construction and power utility sector of Australia.

According to 6Wresearch, Australia Cable Tray Market size is anticipated to grow at a CAGR of 8.3% during 2023-2029.  The cable tray market in Australia is expected to grow in the coming years, driven by several key industries such as construction and power utilities. The renewable energy sector is anticipated to contribute significantly to the cable tray demand, as the country continues to invest in sustainable energy sources. Additionally, the ongoing development of data centers and the increasing adoption of cloud computing services would boost the demand for cable trays to support efficient data and power cable routing. The Australian Government has planned to invest $120 billion in their infrastructure pipeline which includes road and rail projects such as Tasmanian Freight Rail Revitalization, Railway Avenue - Streich Avenue, and Railway Crossing, which is expected to drive the construction sector growth and subsequently act as a catalyst for the demand generation of cable trays market in Australia in upcoming years.

According to Abhishek Mishra, Senior Research Analyst, 6Wresearch, the booming construction industry in Australia, fueled by infrastructure development, and commercial, and residential projects, has created a significant demand for efficient cable routing due to which construction has accounted for the highest revenue share in 2022.

The Australia Cable Tray Market (2023-2029) report provides an in-depth analysis with 24 figures and 6 tables, covered in 86 pages. The report comprehensively covers the market by material types, types, thickness, and application. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.