The global FRP cable tray market size is expected to reach USD 445.63 million by 2027, exhibiting a CAGR of 7.7% during the forecast period. The increasing application of Fibre-reinforced plastic (FRP) products in sea structures with endurance and non-corrosive abilities will create new opportunities for the market, states Fortune Business Insights in a report, titled “FRP Cable Tray Market Share, Size & COVID-19 Impact Analysis, By Type (Ladder, Channel, and Others), By End User (Chemicals, Oil & Gas, Power, Construction, and Others), and Regional Forecast, 2020-2027.” The market size stood at USD 253.48 million in 2019.
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- Comprehensive analysis of the Medical Lighting Technologies Market growth drivers, obstacles, opportunities, and other related challenges.
- Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
- Identifies market restraints and boosters.
- Identifies all the possible segments present in the market to aid organizations in strategic business planning.
The coronavirus incident has triggered immense damage to all the industries across the globe. The governments of several countries have instigated lockdown to thwart the spread of this deadly virus. Such plans have caused disturbances in the production and supply chain. But, with time and resolution, we will be able to combat this stern time and get back to normality. Our well-revised reports will help companies to receive in-depth information about the present scenario of every market so that you can adopt the necessary strategies accordingly.
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List of Key Players for FRP Cable Tray Market
- Øglænd System Group (Norway)
- Aeron Composite Private Limited (India)
- Legrand (France)
- Sintex Plastics Technology Limited (India)
- Schneider Electric (France)
- FiberTech Composite Pvt. Ltd. (India)
- Ercon Composites (India)
- Eaton Corporation (Ireland)
- MP Husky Cable Tray & Cable Bus (U.S.)
- Sai Industries (India)
- Atkore International (U.S.)
- Sonal Group (India)
The report on FRP cable tray market involves:
- Extensive study of the FRP cable tray market size
- Important insights into the industry
- Significant developments of competitors
- Coronavirus influence on the market
- Main regions holding the maximum share
Ever-increasing Energy Demand to Spur Sales Opportunities
The surging power demand around the world is expected to have an excellent impact on the FRP cable tray market. The growing development of new generation, distribution, and transmission networks will bolster the healthy growth of the market. The rising inclination towards green technologies such as hydro, wind, and solar will facilitate the adoption of FRP products. For instance, in September 2020, the U.S. Energy Information Administration (EIA) estimated that the global energy consumption will escalate by 50% by 2050 with the total intake in residential and commercial buildings rising from 91 quadrillion British thermal units (Btu) to 139 Btu. Besides, the flourishing oil & gas industry is expected to uplift the market in the forthcoming years.
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Major Segments for FRP Cable Tray Market
- Oil & Gas
- North America (U.S. and Canada)
- Europe (U.K., Germany, France, Italy, Spain, Russia, and Rest of Europe)
- Asia Pacific (China, India, Japan, Australia, Southeast Asia, and Rest of Asia Pacific)
- The Middle East & Africa (GCC, South Africa, and Rest of the Middle East & Africa)
- Latin America (Brazil, Mexico, and Rest of Latin America)
Development of Chemical Plants to Augment Growth in Asia Pacific
The market size in Asia Pacific is expected to lead the global market during the forecast period owing to the rapid urbanization and industrialization. The growing government support for the establishment of chemical infrastructures and plants will further aid the expansion of the market. The inflated demand for hydrocarbons is expected to spur opportunities for the market in the region. Europe is expected to witness a rapid growth rate owing to rising proclivity towards clean power generation. The high production of hydrocarbon in offshore locations such as the North Sea is likely to boost the market in the region. Moreover, the growing construction of residential and commercial buildings will further promote the market in Europe. The imposition of strict guidelines by the European Union to enhance production will elevate the market in Europe.
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Table of Contents FRP Cable Tray Market:
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
2. Executive Summary
3. Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
4. Key Insights
- Key Emerging Trends – For Major Countries
- Latest Technological Advancements
- Regulatory Landscape
- Industry SWOT Analysis
- Porters Five Forces Analysis
- Value Chain Analysis
5. Qualitative Analysis – Impact of COVID-19
- Impact of COVID-19 on the FRP Cable Tray Market
- Steps Taken by the Government to Overcome the Impact
- Key Developments by the Industry Players in Response to COVID-19
- Potential Opportunities and Challenges due to COVID-19 Outbreak
6. Global FRP Cable Tray Market Analysis (USD Million), Insights and Forecast, 2016-2027
6.1 Key Findings / Summary
6.2 Market Analysis, Insights and Forecast – By Type
6.3 Market Analysis, Insights and Forecast – By Application
- Oil & Gas
6.4 FRP Cable Tray Market Analysis, Insights and Forecast – By Region
- North America
- Asia Pacific
- Middle East & Africa
- Latin America
7. North America FRP Cable Tray Market Analysis (USD Million), Insights and Forecast, 2016-2027
7.1 Key Findings / Summary
7.2 Market Analysis, Insights and Forecast – By Type
7.3 Market Analysis, Insights and Forecast – By Application
- Oil & Gas
7.4 Market Analysis, Insights and Forecast – By Country
7.4.1 U.S. FRP Cable Tray Market Analysis, Insights and Forecast – By Application
- Oil & Gas
7.4.2 Canada Market Analysis, Insights and Forecast – By Application
- Oil & Gas
KEY QUESTIONS ANSWERED:
- What is the FRP cable tray market size and growth rate of the global and regional market by various segments?
- What is the market size and growth rate of the market for selective countries?
- Which region or sub-segment is expected to drive the market in the forecast period?
- What Factors are estimated to drive and restrain the Medical Lighting Technologies Market growth?
- What are the key technological and market trends shaping the market?
- What are the key opportunities in the FRP cable tray market?
- What are the key companies operating in the market?
- Which company accounted for the highest market share?
February 2018: Ercon Composites signed in an agreement to deliver its complete range of GRP cable management systems to a desalination plant in Oman. The products include GRP fasteners and others
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