Electrical Conduit Pipe Market to Witness Heightened Revenue Growth in the Next Decade

Growing need for building and structure safety measures across residential, commercial, and industrial sectors is a driving factor for rising demand for the use of electrical conduit pipes. The residential and commercial sectors, especially, have witnessed significant growth in recent years, which is estimated to persevere over the coming years. Demand for plastic variants of electrical conduit pipes is surging, more so across the regions of Asia and North America.

As per Persistence Market Research analysis, the global electrical conduit pipes market is estimated to expand at a value CAGR of around 5% over the forecast period of 2021-2031.

You can request sample here @ https://www.persistencemarketresearch.com/samples/19402

Key Takeaways from Electrical Conduit Pipes Market Study

• Demand for PVC electrical conduit pipes has seen prominent growth in recent years, and expected to spectacle over the forecast period. These pipes are reliable and durable, with lightweight, flexibility, and flame-resistant properties.
• Demand for conduit pipes from the residential and commercial sectors is expected to surge over the coming years. Electrical conduit pipes are extensively used to protect and route electrical wiring.
• Countries in East Asia and South Asia Pacific have significant growth opportunities over the forecast period due to rapid industrialization and urbanization.
• Increasing demand for highly-insulated nonconductor and corrosion-free electrical conduit pipes is expected to push global sales.
• Demand for high standard material pipes has seen tremendous growth. Demand in applications such as electrical wire cables and IT & telecommunication has been rising steadily in recent times.
• The market in China and India is projected to expand at a healthy CAGR of around 5% through 2031.
• The electrical conduit pipes market in the U.S. is expected to surge ahead at a CAGR of more than 5% over the next ten years.
• Due to the COVID-19 pandemic, the market saw a drastic fall and witnessed a CAGR of -6.1 in 2020. Recovery will be gradual, with the growth rate pegged at -2.2% for 2021, and 4.3% for 2022.

“Growing demand for electrical conduit pipes with low cost, heat resistance, and flexibility traits are increasing day by day, and this expected to drive the market substantially through the forecast period of 2021-2031,” says a Persistence Market Research analyst.

Get Methodology Report here @ https://www.persistencemarketresearch.com/methodology/19402

Market Landscape Continues to Remain Moderately Fragmented

The global electrical conduit pipes market has been identified as a significantly fragmented market space with the unorganized sector occupying a major section of the overall market. Tier-1 manufacturers account for a minimal share in the global market. Some of the leading players included in the report are Wienerberger AG, Aliaxis Group S.A., Sekisui Chemical Co., Ltd., Orbia Advance Corporation, Atkore International Group Inc., and China Lesso Group Holdings Ltd., OPW Corporation, Zekelman Industries Inc., and Nan Ya Plastics Corp. Tier-2 manufacturers such as Astral Poly Technik Ltd., National Pipe and Plastics Inc., Cantex Inc., D.P. Jindal Group, and JM Eagle, Inc., and tier-3 manufacturers such Pipelife International GmbH, International Metal Hose Company, Sanco Industries Ltd., Premier Conduit Inc., and many regional manufacturers across the globe are anticipated to create a tough competitive environment on a global level.

Global Electrical Conduit Pipes Market: Conclusion

The global electrical conduit pipes market is anticipated to progress substantially owing to growing residential and commercial sectors with rapid urbanization across the globe. Fluctuations in raw material prices are expected to have a significant impact on the market. The trend of offering electrical conduit pipes with a wide variety of materials has been adopted by manufacturers. Sales of electrical conduit pipes are estimated to rise over the forecast period, owing to increasing demand for high-resistant and flame-resistant conduit pipes over the coming years.

You can purchase this report here @ https://www.persistencemarketresearch.com/checkout/19402

Contact us:

Persistence Market Research
Address – 305 Broadway, 7th FloorNew York City,
NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
Website – https://www.persistencemarketresearch.com

About us:

Persistence Market Research is always way ahead of its time. In other words, it tables market solutions by stepping into the companies’/clients’ shoes much before they themselves have a sneak pick into the market. The pro-active approach followed by experts at Persistence Market Research helps companies/clients lay their hands on techno-commercial insights beforehand, so that the subsequent course of action could be simplified on their part.

This release was published on openPR.