Cable Conduit Systems Market to Hit $12.24 billion by 2030, Driven by Surge in Use of Submersible Electric Conduits

The global cable conduit systems market size 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%. Asia-Pacific is expected to be the leading contributor toward the cable conduit systems market during the forecast period, followed by LAMEA and Europe.

In recent times, manufacturing and commercial construction sectors demand for efficient wiring systems with frequently alterable properties. Better safety and security are matter of concern during installation of wiring systems. The success of cable conduit systems industry depends upon innovating products according to installation and cost convenience.

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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, in turn, escalates the overall market growth. However, complex installation process acts as a major restraint of 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.

Moreover, developing nations tend to witness high penetration of cable conduit systems products, especially in healthcare and energy segments, which is anticipated to augment the market growth. Furthermore, rise in adoption of automation in the manufacturing sector accelerates the cable conduit systems market growth.

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The global cable conduit systems market is segmented on the basis of type, end user, and region.

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.

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.

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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.

Region wise, the cable conduit systems market trends have been analyzed across North America, Europe, Asia-Pacific, and LAMEA. North America contributed maximum revenue in 2020. However, between 2020 and 2030, the cable conduit systems market in Asia-Pacific is expected to grow at a faster rate as compared to other regions. This is attributed to increase in demand from emerging economical countries such as India, China, Japan, Taiwan, and South Korea.

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. These players have adopted various strategies such as partnership, acquisition, and product launch to strengthen their foothold in the industry.

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Key Findings Of The Study
• The rigid cable conduit systems segment is projected to be the major type, followed by flexible cable conduit systems.
• Asia-Pacific and North America collectively accounted for more than 60% of the cable conduit systems market share in 2020.
• India is anticipated to witness highest growth rate during the forecast period.
• U.S. was the major shareholder in the North America cable conduit systems market, accounting for approximately 70% share in 2020.
• Depending on end user, the IT & telecommunication segment generated the highest revenue in 2020. However, the manufacturing segment is expected to witness the highest growth rate in the future.
• Region wise, the cable conduit systems market was dominated by North America. However, Asia-Pacific is expected to witness significant growth in the coming years.

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