Portland, March 10, 2020 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global plastic conduit market was estimated at $16.24 billion in 2018 and is expected to hit at $25.67 billion by 2026, registering a CAGR of 5.7% from 2019 to 2026. The report provides a detailed analysis of the market size & estimations, top investment pockets, top winning strategies, drivers & opportunities, competitive scenario, and wavering market trends.
Increase in demand for highly secure and safe wiring system, and development in commercial construction fuel the growth of the global plastic conduit market. On the other hand, high installation cost of conduits and surge in prices of non-metallic raw materials hinder the growth to some extent. However, emerging trends toward cable-in conduits system and rise in opportunities in residential buildings are anticipated to pave the way for a number of opportunities in the industry.
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The flexible conduits segment to lead the trail by 2026-
By type, the flexible conduits segment accounted for more than two-thirds of the total market revenue in 2018 and is projected to dominate during 2019–2026. Simultaneously, the rigid conduits segment would register at the fastest CAGR of 7.1% throughout the forecast period.
The HDPE segment to retain its dominance in terms of revenue-
By material, the HDPE segment held the major share in 2018, garnering nearly one-third of the global market. At the same time, the PP segment is expected to portray the fastest CAGR of 7.0% by the end of 2026.
North America garnered the highest share in 2018-
By region, North America contributed to one-third of the global market share in 2018, and is anticipated to maintain the lion’s share by 2026. The Asia-Pacific region, on the other hand, would showcase the fastest CAGR of 7.7% from 2019 to 2026. The other two regions discussed in the market report include Europe and LAMEA.
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Leading market players-
The key market players analyzed in the global plastic conduit market include AKG Group, Precision Plastic Industry, Cantex Inc., Allied Tube & Conduit, Duraline holdings Inc., Calpipe Industries, Eaton Corporation, Prime Conduit, Atkore International, and Mitsubishi Corporation. They have incorporated a number of strategies including partnership, expansion, collaboration, joint ventures, and others to heighten their stand in the industry.
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