Press release
Cable Conduit Systems Market - Technological Advancements, Evolving Industry Trends and Insights 2015 - 2022
The rising urbanization across BRICS nations and increasing infrastructural investment in MENA have created lucrative opportunities for the global cable conduit systems market. As per Transparency Market Research (TMR), population growth and urbanization witnessed across developing countries are compelling governments to focus on various residential and commercial projects. These developments not only aided the construction industry’s robust growth, but also fuelled the deployment of advanced cable conduit systems across the world.Get an exclusive sample of this report @
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Despite witnessing positive growth, fluctuations in prices of raw materials such as plastic, steel, and aluminum restrict the market’s expansion to an extent. The market’s growth is also compromised by the intense rivalry prevailing among the leading market players. Nevertheless, the use of advanced composites such as fiberglass in the production of cable conduit systems is expected to lower their overall manufacturing cost, subsequently boosting the sales of cable conduit systems in the forthcoming years.
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The global cable conduit systems market was worth US$3.2 bn in 2014, says TMR. Exhibiting a CAGR of 11%, the market is expected to reach US$7.4 bn by the end of 2022.
Regionally, North America held the largest share of 35.6% in the global cable conduit market in 2014. The U.S. currently dominates the cable conduit systems market in North America and is likely to maintain its lead through the forecast period. The country has strong regulations mandating the use of conduit systems installations, particularly in the industrial manufacturing sector. This significantly fuels the demand for cable conduit systems from North America. The residential and construction projects are among the most important contributors to the North America cable conduit market.
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About TMR
Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.
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