Cable Conduit Systems Market to Exhibit CAGR of 11.0% Till 2027

The Global Cable Conduit System Market, By By Product Type (Rigid Cable Conduit Systems and Flexible Cable Conduit Systems), By Type of Material (Rigid Cable Conduit Systems (Aluminum, Electrical, Fiberglass, Galvanized Steel, Intermediate Metallic, PVC, PVC-coated, Stainless Steel), Flexible Cable Conduit System (Aluminum, Galvanized Steel, Non-metallic, Stainless Steel)), By End-use Industry (Energy & Utility, Industrial Manufacturing, Transportation, IT & Telecommunication, Healthcare, Residential Construction, Commercial Construction and Other Industries) and by Region (North America, Latin America, Europe, Asia Pacific, Middle East and Africa) - Global Forecast to 2027”, is expected to be valued at US$ 12,635.2 Million by 2027, exhibiting a CAGR of 11.0% during the forecast period (2020-2027), as highlighted in a report published by Coherent Market Insights.

Overview

Cable conduits are wiring systems that use hollow tubing to enclose power wiring and cables. These conduits are manufactured using materials such as steel, PVC, aluminum, and fiberglass. Cable conduits can be used for both overhead and underground wiring systems. Some of the common types of cable conduits are rigid metal conduits, intermediate metal conduits, electrical metal conduits, PVC conduits, flexible metallic conduits, and flexible non-metallic conduits. Cable conduits offer superior protection and durability advantages over other wiring methods such as casing and capping and batten wiring, thereby fueling the demand for these wiring systems.

The global Cable Conduit System Market was accounted for US$ 5,585.3 Mn in terms of value in 2019 and is expected to grow at CAGR of 11.0% for the period 2020-2027.

Market Drivers

Rising construction projects in MENA is expected to boost the global cable conduit systems market growth over the forecast period

Countries such as the UAE, Oman, and Kuwait are investing substantially in infrastructural development and hold strong potential for the growth of the cable conduit systems market in the next few years. Thus, rising construction activities and an increase in infrastructure investments are expected to propel the demand for the cable conduit systems market in MENA even further. Furthermore, the developed economies of North America and Europe have significantly recovered from the global recession that continued from 2008 to 2012. The construction market is showing signs of strengthening in the U.S. and other developed countries in Europe. The U.S. Federal Reserve has indicated that the interest rates would be kept near or at current levels throughout 2014. Therefore, these factors are expected to boost the global cable conduit systems market growth in the near future.

Market Opportunity

Superior advantages of cable conduit wiring over wiring technologies can present lucrative growth opportunities

Common electrical wiring systems include conduit wiring, cleat wiring, batten wiring, and case and capping wiring. Some of the most important safety parameters to be considered for wiring systems are high fire and short circuit protection, corrosion resistance, high durability, water, and shock resistance. Cable conduit systems are designed to meet all of the aforementioned safety parameters. This makes cable conduit systems safer, more reliable than, and preferable to other wiring systems.

Cable Conduit System Market - Impact of Coronavirus (Covid-19) Pandemic

The Cable conduits are widely used in the construction industry. Owing to the lockdown imposed by countries such as India and Spain, the construction industry is adversely affected. Moreover, delays are created in construction projects due to the imposed lockdown. There is also shortage of skilled workers and raw materials at the construction sites. According the our study, the cost of skilled construction labor is also expected to increase by 10% -20% during the year 2020-21. Owing to this, the overall cost of construction projects is also expected to increase. Due to all the above mentioned factors, the COVID-19 Pandemic is expected to restrain the cable conduit system market growth during the year 2020-21.

Market Restraint

Highly fragmented regional market is expected to hamper the global cable conduit systems market growth over the forecast period

The global cable conduit systems market is highly fragmented with the presence of both organized and unorganized players operating in the market. The presence of a large number of local players poses significant threats to global cable conduit systems manufacturers. Therefore, high market fragmentation at the regional level hinders the growth of major cable conduit systems manufacturers globally. Hence, these factors are expected to hamper the global cable conduit systems market growth over the forecast period.

Market Trends

Cable conduit system manufacturers generate a majority of their revenue from the industrial manufacturing segment. This is due to the fact that industrial applications require high-performance conduit systems manufactured using high-quality materials. Examples of industrial applications requiring high-end conduit system products are oil & gas, metal & mining, and food & beverage manufacturing. For end-use applications such as oil & gas, wastewater treatment plants, and metal & mining, liquid-tight cable conduit systems are expected to emerge as the most profitable segment. Food & beverage processing has some of the most stringent regulations for the installation of cable conduit systems. The conduit systems installed in the food processing industry have to be manufactured using materials in compliance with regulations such as FDA CFR-21.
Another major lucrative segment is the manufacturing of halogen-free conduit systems. Halogen-free conduit systems are fire retardant, meaning the safety of wiring system is heightened with their use. Thus, these types of conduit systems are highly recommended across sectors such as residential, commercial, public infrastructure, and government buildings.

To know the latest trends and insights prevalent in the Global Cable Conduit System Market, click the link below:

https://www.coherentmarketinsights.com/market-insight/cable-conduit-systems-market-4093

Competitive Section

Key companies operating in the global cable conduit systems market are Atkore International, Inc., Calpipe Industries, Inc., Appleton Group (Emerson Electric Co.), Hubbell, Inc., Legrand S.A., Robroy Industries, Inc., Schneider Electric SE, ANAMET Electrical, Inc., Electric-Flex Company, Flexa GmbH, Schlemmer GmbH, Southwire Company, LLC, Teaflex Spa, Dura-Line Corporation (Mexichem SAB de CV), Flexicon Limited, FRÄNKISCHE ROHRWERKE Gebr., Kirchner GmbH & Co. KG, Eaton Corporation plc, Arlington Industries, Inc., Bimed AS, Bridgeport Fittings, Inc., and PFLITSCH GmbH Co. & KG.

Key Developments

Major companies are focused on mergers and acquisitions, in order to enhance the market presence. For instance, in August 2019, NSI Industries LLC acquired Bridgeport Fittings, Inc., a manufacturer of electrical products.

Segmentation

Market Taxonomy: