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Electrical Conduit Market Analysis 2024 -2033: Forecasted Market Size, Top Segments, And Largest Region
Electrical Conduit Market
The Business Research Company offers in-depth market insights through Electrical Conduit Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The electrical conduit market size has grown strongly in recent years. It will grow from $6.83 billion in 2023 to $7.37 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased building and construction activity, electrical wiring and cable installations, industrial and commercial development, increased demand for safety and protection of electrical wiring, and rapid urbanization and infrastructure development
.
The electrical conduit market size is expected to see strong growth in the next few years. It will grow to $9.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to infrastructure upgrades and maintenance, expansion of renewable energy projects, increased demand for fiber optic conduits, smart grid and electrical infrastructure modernization, global market expansion and emerging market growth, and data center and it infrastructure expansion. Major trends in the forecast period include smart building integration, sustainability and eco-friendly conduits, technological advancements in conduit materials, advanced conduit material innovations, and introduction of flexible and rigid conduit solutions.
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Market Segmentation:
The main types of electrical conduit are rigid and flexible. Rigid electrical conduit is typically used outdoors to provide protection from damage and can provide structural support for electrical cables, panels, and other equipment. Flexible electrical conduit has a spiral construction that makes it flexible so it can snake through walls and other structures. It is generally used in dry indoor locations, often for short runs between a wall box and a motor or fixed appliance, such as a garbage disposer. The different electrical conduit materials include metallic and non-metallic and are used in various end-use industries such as building and construction, industrial manufacturing, IT and telecom, oil and gas, energy and utility, and others.
Major Driver - Surging Demand For Electricity Generation Fuels Growth In The Electrical Conduit Market
The rise in demand for electricity or power generation is expected to drive the electrical conduit market. The rise in demand for electricity generation is caused by the rapid pace of industrialization and urbanization, which creates the need for electrical conduits. According to the new IEA (International Energy Agency) report in 2021, there is an expected rise of 5% in electricity demand. In another instance, according to Canada's Upstream Oil & Natural Gas Industry, with the global population expected to increase by about two billion over the next two decades, it is estimated that by 2040, electricity generation is expected to increase by 49%. Therefore, the rise in demand for electric power generation is expected to drive the growth of the electrical conduit market.
Competitive Landscape:
Major companies operating in the electrical conduit market include ABB Ltd., Ali Axis Group, Atkore International Group Inc., Cantex Inc., Champion Fiberglass Inc., China Lesso Group Holdings Ltd., Dura-Line Corporation, HellermannTyton Group PLC., Hubbell Incorporated, Legrand, Alary & Joquel Company., Nan Ya Plastics Corporation, OPW Corporation, Robroy Industries Inc., Schneider Electric SE, Sekisui Chemical Co., Thomas and Betts Corporation, Wienerberger AG, Zekelman Industries Inc., AFC Cable Systems, AKG Group GmbH, Anamet Electrical Inc., Astral Poly Technik Ltd., Calpipe Industries Incorporated, D.P. Jindal Group, Eaton Corporation PLC., Electri-Flex Company, igus inc., International Metal Hose Company, JM Eagle Inc., Calpipe Industries Inc., Conduit Pipe Products Company, Eaton Corporation, Flex-It Co. Inc., Graybar Electric Company Inc., HellermannTyton Ltd., IPEX USA LLC, Kaf-Tech Inc., National Pipe & Plastics Inc., Ocal Ltd.
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Top Trend - Rising Technological Advancements And Safety Innovations In The Electrical Conduit Market
Technological advancements are a key trend gaining popularity in the electrical conduit market. Companies in the electrical conduit market are continuously focusing on innovations for better and safer conduit systems. For instance, in 2021, Finolex Cables, an India-based electric cable company, added conduits and fittings for its repository. The specially formulated PVC is made up of high-impact resistant materials, which makes them safe for use across diverse environmental conditions and meets the most stringent international standards.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Electrical Conduit Market Characteristics
3. Electrical Conduit Market Trends And Strategies
4. Electrical Conduit Market - Macro Economic Scenario
5. Electrical Conduit Market Size And Growth
…..
27. Electrical Conduit Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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