Cable Conduit Market to Reach $9.3 Billion, Globally, by 2032 at 8.2% CAGR: Allied Market Research

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Oct 11, 2023, 10:10 ET

PORTLAND, Ore., Oct. 11, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Cable Conduit Market by Type (Rigid Cable Conduit, and Flexible Cable Conduit) by Product Type (Metal Conduit, Nylon Conduit and Polyamide Conduit) by End-User (Commercial Construction, IT & and Telecommunication, Railways, Energy, Manufacturing, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2023-2032". According to the report, the global cable conduit market was valued at $4.4 billion in 2022 and is projected to reach $9.3 billion by 2032, growing at a CAGR of 8.2% from 2023 to 2032.

Cable conduits offers a structured and protective pathway for electrical wiring and communication cables. It is a preferred choice for applications requiring high levels of protection and compliance with electrical codes.

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Prime determinants of growth

The global cable conduit market is experiencing growth due to several factors such as a high demand for cable conduit due to their beneficial properties and surge in demand for highly secure and safe wiring systems, and an increase in commercial construction activities as cable conduit is integral to these activities as they ensure organized and secure cable routing, meeting stringent building codes and regulations. However, the fluctuations in the prices of raw materials and difficulty in identifying defects & and managing/adding additional connections in the future hinder market growth to some extent. Moreover, escalating demand for cable conduits for electricity/power generation offers remunerative opportunities for the expansion of the Cable Conduit market.

Report coverage & details:

Report Coverage	Details
Forecast Period	2023–2032
Base Year	2022
Market Size in 2022	$4.4 billion
Market Size in 2032	$9.3 billion
CAGR	8.2 %
No. of Pages in Report	287
Segments covered	Type, Product Type, End-user, and Region.
Drivers	Surge in demand for highly secure and safe wiring systems, and an increase in commercial construction activities.
Drivers	High demand for cable conduit due to their beneficial properties
Opportunities	Escalating demand for cable conduit for electricity/power generation
Opportunities	Fluctuations in the prices of raw materials
Restraints	Difficulty in identifying defects & managing/adding additional connections in the future

Impact of the Russia-Ukraine War on the Cable Conduit Market

The Russia-Ukraine war has had a significant impact on the cable conduit market. Supply chain disruptions increased geopolitical tensions, and economic uncertainty led to fluctuations in the prices of raw materials like metals and plastics, which are crucial for manufacturing conduits. Companies in the industry faced challenges in sourcing materials, transportation, and market instability.
In addition, infrastructure development projects in the region were slowed down, affecting demand. As a result, the cable conduit market experienced volatility, making it essential for businesses to closely monitor geopolitical developments and adapt their strategies accordingly to mitigate risks and seize opportunities.

The Flexible cable conduit segment is expected to grow fast throughout the forecast period.

Based on the type, the rigid cable conduit segment held the highest market share in 2022, accounting for more than two-thirds of the global cable conduit market revenue and is likely to retain its dominance throughout the forecast period. The rigid conduit commonly used in both commercial and industrial settings where wiring needs to be shielded from external factors such as mechanical stress, chemical exposure, or extreme temperatures. It provides a secure and durable pathway for electrical conductors, ensuring the safety and integrity of the wiring system. However, the flexible cable conduit segment is projected to manifest the highest CAGR of 8.6% from 2023 to 2032. A flexible cable conduit is a protective, flexible tubing system designed to encase and shield electrical cables and wires from external factors, ensuring safety and organization in various applications. It finds extensive use in residential, commercial, and industrial settings, such as wiring systems in buildings, data centers, automotive wiring harnesses, and machinery.

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The Metal Conduit segment is expected to lead the trial by 2032.

Based on the product type, the metal conduit segment held the highest market share in 2022, accounting for more than three-fifths of the global cable conduit market revenue and is likely to retain its dominance throughout the forecast period. The metal conduit provides essential protection against physical damage, moisture, and electromagnetic interference, ensuring the safety and longevity of electrical circuits. It is commonly used in both commercial and residential applications, such as wiring in buildings, industrial facilities, and outdoor installations. Its durability and fire-resistant properties make it a reliable choice for electrical wiring, enhancing the overall safety of electrical systems. However, the nylon conduit segment is projected to manifest the highest CAGR of 8.7% from 2023 to 2032. Nylon conduit is known for its durability and resistance to chemicals and oils, making it suitable for both indoor and outdoor installations. It is commonly used in automotive wiring, industrial machinery, and construction projects to organize and secure wiring systems. This conduit also offers ease of installation due to its flexibility and lightweight nature, making it a preferred choice for many electrical and wiring applications.

The Commercial Construction segment is expected to grow faster throughout the forecast period.

Based on the end-user, the commercial construction segment held the highest market share in 2022, accounting for nearly one-third of the global cable conduit market revenue and is likely to retain its dominance throughout the forecast period. This segment also held the major CAGR of 8.8% in 2032. Cable conduits play a pivotal role in the commercial construction industry, as it offers a structured and protective pathway for electrical wiring and communication cables. These rigid or flexible tubes safeguard wires from physical damage, moisture, and environmental factors, ensuring safety and longevity. In commercial buildings, conduits are strategically installed within walls, ceilings, and floors, maintaining a neat appearance while allowing easy access for maintenance and upgrades. Conduits also help in complying with building codes and regulations, enhancing fire safety, and preventing hazards.

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Asia-Pacific to maintain its dominance by 2032.

Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global Cable Conduit market revenue and is expected to rule the roost in terms of revenue throughout the forecast timeframe. The cable conduit market in the Asia-Pacific region has experienced substantial growth in recent years, driven by increasing urbanization, infrastructure development, and the expansion of industries such as telecommunications, construction, and manufacturing. The demand for cable conduits, which provide protection and organization for electrical wiring, data cables, and communication lines, has surged as a result. In addition, stringent safety regulations and the need to prevent damage to sensitive cables have further fueled market growth. Key players in the region are actively innovating to offer durable and environmentally friendly conduit solutions, making the Asia-Pacific cable conduit market highly competitive and potential for future expansion.

Players: -

ANAMET ELECTRICAL, INC.
EATON CORPORATION PLC
HUBBELL INC.
LEGRAND
SCHNEIDER ELECTRIC
SHANGHAI QINKAI INDUSTRY CO., LTD.
ATKORE
ELECTRI-FLEX COMPANY
GUANGDONG CTUBE INDUSTRY CO., LTD.
ZEKELMAN INDUSTRIES
FLUCON COMPONENTS PVT. LTD.
TRINITY TOUCH
SUPA FLEX
AEROSUSA INC.

The report provides a detailed analysis of these key players in the global cable conduit market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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