Electrical Conduit Market Set to Surpass USD 12.68 Billion by 2030, Fueled by Rising Concerns for Safety and Rapid Industrialization

Increasing awareness of safety, rapid industrialization, and urbanization drive the robust growth of the Electrical Conduit Market.

According to the latest SNS Insider report, the Electrical Conduit Market Size was valued at USD 7.3 billion in 2022 and is expected to reach USD 12.68 billion by 2030, boasting a commendable CAGR of 7.0% during the forecast period 2023-2030.The electrical conduit market is witnessing steady growth driven by the expanding construction sector, rapid urbanization, and increasing infrastructural development projects worldwide. Electrical conduits play a vital role in protecting and routing electrical wiring in buildings, ensuring safety, and complying with building codes and regulations. With the growing demand for electricity in residential, commercial, and industrial applications, the need for reliable and efficient electrical conduit systems is escalating, propelling market growth.

Furthermore, the integration of smart technologies and IoT (Internet of Things) in building automation and control systems is fueling the demand for electrical conduit systems capable of accommodating complex wiring configurations and supporting data communication networks. This trend is expected to drive innovation in the electrical conduit market, with manufacturers focusing on designing conduit solutions that can accommodate future technological advancements while ensuring ease of installation, maintenance, and scalability. Additionally, stringent safety regulations and the need to protect electrical systems from external elements such as moisture, dust, and mechanical damage are driving the adoption of robust and durable electrical conduit systems, further stimulating market growth.

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Some of the Key Players Included are:

Hubbell Incorporated, Atkore International Group Inc., Schneider Electric SE, Legrand S.A. Sekisui Chemical Co., Ltd., and other players.

Market Report Scope:

With the demand for continuous and reliable electricity growing globally, the Electrical Conduit Market plays a crucial role in ensuring the safety and reliability of electric supply routes. The surge in the market is attributed to increased awareness of public safety, the implementation of safety regulations by governments, and the adoption of electrical conduits in various residential and commercial structures. The industry benefits from diverse material options, technological advancements, and initiatives for rural electrification and renewable energy adoption.

Market Analysis:

Electrical conduit systems, a reliable and popular wiring solution, safeguard cables, wires, and data links from external influences in the mechanical and electrical engineering industry. This wiring system is gaining popularity due to its safety features, aesthetic appeal, and ability to protect against impact, moisture, and chemical vapors. Raw material and energy price volatility pose challenges to the industry, impacting manufacturing and transportation costs. Fluctuations in these prices directly affect the profit margins of manufacturers, leading to potential challenges in market growth.

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Segment Analysis:

By Type: Flexible electrical conduit is anticipated to be the fastest-growing segment, offering versatility, ease of installation, and cost-effectiveness. Its lightweight nature and flexibility make it a preferred choice over rigid options.

By Material: The non-metallic segment is expected to grow at a higher CAGR, given its ease of installation, lightweight properties, corrosion resistance, and protection against moisture ingress.

By End-use Industry: Building and construction dominate the market, accounting for 52% in 2022, driven by the need for safe and reliable wire and cable management solutions.

Key Regional Development:

Asia Pacific (APAC) leads the global electrical conduit market with a 35% share in 2022. The region benefits from the ready availability of raw materials, technological innovations, and economic growth fueled by infrastructural developments. Emerging economies in APAC witness a surge in demand for electrical conduit due to rapid economic development, government initiatives, and a growing population, making it a dominant force in the global market.

By Type

Rigid
Flexible
 
By Material

Metallic
Stainless steel
Aluminum
Non-metallic
PVC
HDPE
PP
Others
 
By End-Use Industry

Building & Construction
Residential
Commercial
Industrial Manufacturing
IT & Telecommunication
Oil & Gas
Energy & Utility
Others
Healthcare
Marine
 
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Key Takeaways for the Electrical Conduit Market Study:

The electrical conduit market is experiencing growth due to the increasing need for safe and reliable wire and cable management solutions.
Price volatility in raw materials and energy poses challenges to profit margins and overall market growth.
Technological advancements provide flexibility and enable the utilization of electrical conduits in structures with sophisticated designs.
Asia Pacific leads the market, driven by economic growth, technological advancements, and government initiatives.
Recent Developments:

In October 2020, Atkore International Group Inc. expanded its portfolio by acquiring the assets of Queen City Plastics, Inc., a manufacturer of PVC conduit, elbows, and fittings.
In February 2021, Atkore International Group Inc. further strengthened its position in the market by acquiring FRE Composites Group, a leading manufacturer of fiberglass conduit solutions for various industries.
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Table of Contents - Major Key Points

Introduction
Research Methodology
Market Dynamics
Impact Analysis
COVID-19 Impact Analysis
Impact of Ukraine- Russia war
Impact of ongoing Recession
Value Chain Analysis
Porter's 5 Forces Model
PEST Analysis
Electrical Conduit Market Segment, By Type
Electrical Conduit Market Segment, By Material
Electrical Conduit Market Segment, By End-Use Industry
Regional Analysis
Company Profiles
Competitive Landscape
Use Case and Best Practices
Conclusion

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SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world.

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