Electrical Conduit Market predicted to to witness a high growth by 2024
Date: 2018-10-02   Author: Rahul Sankrityayan  Category: #market

Electrical Conduit Market predicted to to witness a high growth by 2024

Electrical Conduit Market will grow on account of growing demand for highly safe, secure, and effective wiring systems along with increasing demand for cable management systems. The increasing need for simpler, safer and frequently alterable electrical conduits will drive the industry growth. Growing urbanization in the emerging economies will further boost the demand for these products.

China electrical conduit market share will witness strong growth on account of positive outlook toward the building and construction industry in the country. Sizeable investments supported by legislative funding in electrification and power supply projects will further augment the industry growth. For instance, the Government of China through its 3-year action plan achieved full electrification, with an investment of approximately USD 4 billion between 2013-2015.

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Rapid technological advancements along with several ongoing R&D ventures toward developing shockproof and enhanced waterproof conduits will stimulate the electric conduit market size. Furthermore, the growing need to develop specialized equipment for encasing and routing will fuel the industry growth. Provision of halogen free and green conduit systems specific to food and healthcare segments will create new opportunities in the electrical conduit market.

Flexible electrical conduit market is expected to grow at a faster pace owing to the product’s simple wiring, ease of installation and cheaper raw material costs. Better corrosion resistance properties, higher adoption rates, and ability to offer cost-effectiveness than available alternatives are some of the underlying features supporting the product penetration.

Ability to offer a viable means for replacement of conductors with low disruption rates along with rising adoption of repeatedly alterable wiring systems in buildings will drive the electrical conduit market share. Furthermore, effective protection capabilities from harsh environmental conditions including chemical vapors, electromagnetic waves, and hazardous locations will further strengthen the product’s deployment.

Revival of construction activities across the industrial, commercial and residential segments will propel the electrical conduit market size. According to Timetric, the global construction industry stabilized in 2016 at 2.4% and is projected to improve at an average growth of 2.8% by 2021.The industrial segment including the IT & Telecommunications industry will further propel the product owing to cost effective installations.

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The global electrical conduit market exhibits a diversified nature of industrial rivalry across different regions. For instance, the Asia-Pacific industry is characterized by several regional and unorganized players holding a significant share. On the contrary, the North American and European industries demonstrate consolidated nature.

Eminent participants in the electrical conduit market include Atkore International Wheatland Tube, Legrand, Schneider Electric, Robroy Industries, Dura-Line, Thomas and Betts, Conduit Pipe Products, Allied Tube & Conduit, Hubbell, Aliaxis Group, Calpipe Industries, Eaton Corporation, Electri Flex, IPEX, National Pipe & Plastics, Heritage Plastics, Sekisui Chemical, JM Eagle, China Lesso Group and ANAMET Electrical.

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Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for AlgosOnline, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in t...

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