Cable Conduit Systems Market - Urbanization to boost deployment of cable conduit systems across BRICS nations

The cable conduit systems market features the presence of both organized and unorganized players across the world, which has split the market into many small fragments. Due to the intense competition, the development of high quality products to cater to industries such as industrial manufacturing, food and beverages, oil and gas, and other heavy industries remains the surest path to revenue growth.

As per a new study by Transparency Market Research, besides product innovation and differentiation, these companies are expanding and strengthening their sales channel to gain a competitive edge in the global cable conduit systems market. Mergers and acquisitions are seen as the most banked-on strategies by companies looking to gain a strong global footprint. As per TMR, the global cable conduit systems market is led by Atkore International, Inc., Thomas & Betts Corporation, and Eaton Corporation Plc.

Economic Development to Boost Deployment of Cable Conduit Systems across BRICS Nations

Economic development runs parallel to the urbanization witnessed in any country. The growth trends witnessed in BRICS economies haven’t been much different either. As per a lead TMR analyst, “Urbanization and population growth reported by the emerging economies of Asia Pacific have given a major thrust to the economic activities across BRICS nations. These activities have fuelled the demand for residential and commercial projects, thus boosting opportunities for cable conduit systems deployment in BRICS.”

Due to the influx of people in large cities, BRICS nations have been exhibiting a high demand for better infrastructure, sanitation, and electricity. Such developments provide lucrative opportunities for cable conduit systems sales.

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Market to Gain Momentum from Infrastructural Development in MENA
In the last couple of years, infrastructural development has significantly paced up in MENA. The recovery of the construction industry has proven to be a boon for cable conduit systems manufacturers in the region. Combined with this, the infrastructural development plans adopted by countries such as the UAE, Saudi Arabia, and Qatar have significantly bolstered sales opportunities for cable conduit systems in the region.

Furthermore, the intrinsic advantages of cable conduit systems over other wiring technologies are expected to fuel demand for the former in the forthcoming years. As per TMR, the rising energy demand and the rising bandwidth will also augur well for the cable conduit systems market.

High Installation Costs May Limit Deployment of Cable Conduit Systems
The high installation costs associated with cable conduit systems, limit their deployment to an extent. Furthermore, once installed, these wiring systems are quite difficult to alter, which has emerged as a major challenge for the market. “Volatility witnessed in the prices of raw materials such as aluminum, plastics, and steel used in the manufacture of cable conduit systems also threatens their growth prospects,” said a TMR analyst. Additionally, the fragmented competitive landscape at regional level is adversely influencing the cable conduit systems sales as well.
Production of Cable Conduits Using Advanced Composites to Augur Well for the Market

The production of cable conduit systems using composites such as fiberglass, which offers numerous advantages than conventional materials, will help the market’s growth in the forthcoming years. These materials boast low conductivity, high tensile strength, and chemical resistance, and are available at low costs. This subsequently is likely to reduce costs of cable conduits, thus boosting their application in electrical wiring systems.

The industrial manufacturing segment emerged as the largest end-use industry in the market in 2014. The segment held over 28% of the market in the year. Regionally, the global cable conduit systems market was led by North America with a share of 35.6% in 2014.

According to TMR, the global cable conduit systems market stood at US$3.2 bn in 2014 and is forecast to reach US$7.4 bn by the end of 2022. The market will exhibit a CAGR of 11.0% between 2015 and 2022.

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This release was published on openPR.