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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
Global FRP Cable Tray Market Outlook
The global FRP cable tray market is projected to grow at a CAGR of 7% between 2024 and 2032, to attain USD 510.84 million by 2032.
| Global FRP Cable Tray Market Summary | Description | Value |
| Base Year | USD Million | 2023 |
| Historical period | USD Million | 2018-2023 |
| Forecast Period | USD Million | 2024-2032 |
| Market Size 2023 | USD Million | 277.9 |
| Market Size 2032 | USD Million | 510.84 |
| CAGR 2018-2023 | Percentage | XX% |
| CAGR 2024-2032 | Percentage | 7.0% |
| CAGR 2024-2032 - Market by Region | Asia Pacific | 7.9% |
| CAGR 2024-2032 - Market by Country | China | 8.3% |
| CAGR 2024-2032 - Market by Country | Brazil | 7.9% |
| CAGR 2024-2032 - Market by Type | Channel | 7.4% |
| CAGR 2024-2032 - Market by Application | Power | 7.9% |
| Market Share by Country 2023 | Japan | 5.1% |
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Increasing Development of Chemical Plants to Propel Market Growth in the Asia Pacific
Due to rapid urbanisation and industrialisation, the size of the market in the Asia Pacific is projected to lead the global market during the forecast period. Growing government funding for the construction of chemical infrastructures and plants would help support business growth. Inflated demand for hydrocarbons is projected to stimulate prospects for the regional market. Due to the increasing tendency for renewable power generation, Europe is expected to experience a high growth rate. High hydrocarbon production in offshore locations such as the North Sea is expected to fuel the regional demand. In addition, increasing residential and commercial building development would further promote the demand in Europe. The imposition by the European Union of stringent rules for improving productivity would increase the demand for FRP cable in Europe.
| CAGR 2024-2032 - Market by | Country |
| China | 8.3% |
| Brazil | 7.9% |
| UK | 7.3% |
| Canada | 7.0% |
| Germany | 6.5% |
| USA | XX% |
| France | XX% |
| Italy | XX% |
| India | XX% |
| Australia | 5.7% |
| Saudi Arabia | XX% |
| Mexico | XX% |
| Japan | 5.1% |
FRP Cable Tray: Market Segmentation
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Fiberglass reinforced plastic (FRP) cable trays are manufactured in various styles to withhold a bulk bunch of wires and cables laid in different structures in order to preserve the operating protection and aesthetic appeal of the location. Different raw materials, including titanium, steel, and reinforced plastic, are processed for the goods.
| CAGR 2024-2032 - Market by | Type |
| Channel | 7.4% |
| Ladder | XX% |
By type, the market is divided into:
- Ladder
- Channel
- Others
| CAGR 2024-2032 - Market by | Application |
| Power | 7.9% |
| Construction | 7.5% |
| Oil and Gas | 7.1% |
| Chemical | XX% |
| Others | XX% |
On the basis of application, the market is bifurcated into:
- Construction
- Power
- Oil and Gas
- Chemical
- Others
| CAGR 2024-2032 - Market by | Region |
| Asia Pacific | 7.9% |
| North America | 6.8% |
| Europe | XX% |
| Latin America | XX% |
| Middle East and Africa | XX% |
The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
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Increasing Energy Demand to Propel the Market Growth of FRP Cable Tray
The surging demand for power around the world is expected to have a great impact on the market for FRP cable trays. The rising development of new generation, distribution and transmission networks will reinforce the market's healthy growth. The increasing inclination for green technologies such as hydro, wind, and solar will facilitate the adoption of FRP products. In addition, the flourishing oil and gas industry is expected to uplift the market in the coming years. The disruption caused by coronavirus has suspended operations in different industries around the world. The global market has been negatively affected by the halt in manufacturing and processing facilities. Constraints in capital investment and new projects in the oil and gas, construction, chemicals, and other industries will reduce demand for FRP cable trays, thereby hindering market growth during the pandemic.
| 2023 Market Share by | Country |
| Japan | 5.1% |
| USA | XX% |
| Canada | XX% |
| UK | XX% |
Key Industry Players in the Global FRP Cable Tray Market
The report gives a detailed analysis of the following key players in the global FRP cable tray market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:
- Sintex Group
- Ercon Composites
- Oglaend System Group
- MP Husky
- Others
The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Type |
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| Breakup by Application |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Competitive Landscape |
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| Companies Covered |
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| Report Price and Purchase Option | Explore our purchase options that are best suited to your resources and industry needs. |
| Delivery Format | Delivered as an attached PDF and Excel through email, with an option of receiving an editable PPT, according to the purchase option. |
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
The global FRP cable tray market is projected to grow at a CAGR of 7% between 2024 and 2032.
The rising global demand for power, rapid urbanisation and industrialisation, increasing construction activities, and the flourishing oil and gas sector are the major drivers of the market.
The key trends guiding the market growth include the growing popularity of green technologies and the rising development of advanced transmission and distribution networks.
The major regions in the market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
Ladder and channel, among others, are the major types of FPR cable tray.
The various applications of FPR cable tray include construction, power, oil and gas, and chemical, among others.
The major players in the market are Sintex Group, Ercon Composites, Oglaend System Group, and MP Husky, among others.
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