Cable Conduit Systems Market Outlook - 2030
The global cable conduit systems market was valued at $6.13 billion in 2020, and is projected to reach $12.24 billion by 2030, growing at a CAGR of 7.8% from 2021 to 2030.
A cable conduit system is a network of tubes that allows electrical wires to be protected and routed through structures, providing a path for power and low-voltage communication. Its structure is mostly tubular, and it can be rigid or flexible, and constructed of metals (stainless steel, galvanized steel, or aluminum) or non-metals.
Growth of the global cable conduit systems market is anticipated to be driven by surge in use of submersible electric conduits, liquid tight conduits, and conduits providing protection against fire. In addition, rapid urbanization in developing economies leads to increase in construction projects, which drive the overall market growth. However, complex installation process acts as a major restraint for the global cable conduit systems industry. On the contrary, surge in demand for cable conduit systems from renewable power generation projects is expected to create lucrative opportunities for the cable conduit systems market.
Segmentation
The global cable conduit systems market is segmented on the basis of type, end user, and region. By type, the market is classified into rigid cable conduit systems, and flexible cable conduit systems. Depending on end user, it is categorized into manufacturing, commercial construction, IT & telecommunication, healthcare, energy, and others.
Region wise, the cable conduit systems market trends are analyzed across North America (the U.S., Canada, and Mexico), Europe (UK, Germany, France, and rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). North America dominated the cable conduit systems market in 2020, and is projected to register significant growth rate during the forecast period, owing to surge in demand for flexible cable conduits. However, Asia-Pacific is expected to witnesses significant growth by the end of the forecast period, followed by LAMEA.
Leading cable conduit systems market manufacturers such as ABB, Schneider Electric, Eaton Corporation Plc, and Atkore International Group Inc. are focusing on their investments on technologically advanced, cost-effective, and more secure products and solutions for various applications.
By Type
Flexible Cable Conduit Systems segment will grow at a highest CAGR of 10.6% during 2021 - 2030.
Top Impacting Factors
The prominent factors that impact the cable conduit systems market growth include surge in demand for highly secure & safe wiring system, increase in commercial construction activities, and frequent alterations of wiring systems. However, rise in prices of raw materials such as steel, plastic, and aluminum restricts the market growth. On the contrary, new innovation & technology advancements in conduit products are expected to create lucrative opportunities for the market.
Competitive Analysis
Competitive analysis and profiles of the major cable conduit systems market players such as Atkore International Group Inc., S&C Electric, Champion Fiberglass Inc., Dura-Line Holdings Inc., Eaton Corporation Plc., Hubbell Incorporated, Legrand, Schneider Electric, ABB, and Igus Inc. have been covered in the report.
By End User
IT and Telecommunication segment is projected as one of the most lucrative segments.
Covid-19 Impact Analysis
The outbreak of COVID-19 has significantly affected the electronics & semiconductor sector. Business and manufacturing units across various countries were closed, owing to increase in number of COVID-19 cases, and are expected to remain closed in first quarter of 2022. Furthermore, partial or complete lockdown has disrupted global supply chain posing challenges for manufactures to reach customers.
The COVID-19 pandemic is impacting the society and overall economy across the globe. The impact of this outbreak is growing day-by-day as well as affecting the overall business globally. The crisis is creating uncertainty in the stock market and is resulting in falling business confidence, massive slowing of supply chain, and increasing panic among customers.
Asian and European countries under lockdown have suffered major loss of business and revenue, owing to shutdown of manufacturing units. Operations of the production and manufacturing industries have been heavily impacted by the outbreak of the COVID-19 disease, which further impacted growth of the cable conduit systems market.
In addition, the COVID-19 pandemic has impacted the electronics sector as production facilities have stalled, which, in turn, boosts the demand for electronics and semiconductor products in these industries. Its major impact includes a large manufacturing interruption across Europe and interruption in Chinese parts exports, which hinder the cable conduit systems market opportunity. It is expected that the demand for new and innovative products could surge once the economy begins to recover. Companies are looking forward to invest in next-generation products using new technologies, once customer demand surges.
By Region
Asia-Pacific would exhibit the highest CAGR of 9.6% during 2021-2030
Key Benefits For Stakeholders
- This study comprises analytical depiction of the global cable conduit systems market size along with current trends and future estimations to depict imminent investment pockets.
- The overall cable conduit systems market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current cable conduit systems market forecast is quantitatively analyzed from 2020 to 2030 to benchmark the financial competency.
- The Porter’s five forces analysis illustrates the potency of the buyers and the cable conduit systems market share of key vendors.
- The report includes the market trends and the market share of key vendors.
Cable Conduit Systems Market Report Highlights
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Analyst Review
The global cable conduit systems market is flourishing at a rapid pace. However, increasing prices of raw materials is still a concern for new entrants. Market players are generously investing in R&D activities to develop improved solutions to reduce overall costs of cable conduit systems products. In addition, according to industry experts, it is essential to optimize affordable prices for cable conduit systems products for long-term growth.
Growth of the global cable conduit systems market is anticipated to be driven by surge in use of submersible electric conduits, liquid tight conduits, and conduits providing protection against fire. In addition, rapid urbanization in the developing economies leads to an increase in construction projects, which, in turn, drives the overall market growth. However, complex installation process acts as a major restraint for the global cable conduit systems industry. On the contrary, surge in demand for cable conduit systems from renewable power generation projects is expected to create lucrative opportunities for the cable conduit systems market.
Key players of the market focus on introducing technologically advanced products to remain competitive in the market. Partnership, acquisition, and product launches are expected to be the prominent strategies adopted by the market players. North America accounted for a major share of the market in 2020, owing to the presence of major players in the region. However, Asia-Pacific is expected to grow at the highest CAGR, owing to rise in adoption of cable conduit systems in a variety of fields.
The cable conduit systems Market is estimated to grow at a CAGR of 7.8% from 2021 to 2030.
The cable conduit systems Market is projected to reach $12.24 billion by 2030.
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Factors such assurge in demand for highly secure & safe wiring system, increase in commercial construction activities, and frequent alterations of wiring systems drives the growth of the cable conduit systems market
The key players profiled in the report include Atkore International Group Inc., S&C Electric, Champion Fiberglass Inc., Dura-Line Holdings Inc., Eaton Corporation Plc., Hubbell Incorporated, Legrand, Schneider Electric, ABB, and Igus Inc, and many more.
On the basis of top growing big corporations, we select top 10 players.
The cable conduit systems Market is segmented on the basis of type, end user, and region.
The key growth strategies of cable conduit systems market players include product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations.
Subsegments of end user are manufacturing, commercial construction, IT & telecommunication, healthcare, energy.
Flexible Cable Conduit Systems segment will grow at a highest CAGR of 10.6% during 2021 - 2030.
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