New York, United States , Sept. 04, 2024 (GLOBE NEWSWIRE) -- The Global Electrical Conduit Market Size is to Grow from USD 8.9 Billion in 2023 to USD 17.9 Billion By 2033, at a Compound Annual Growth Rate (CAGR) of 7.2% during the projected period.
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Electrical conduits are tubes that contain electrical wires for a variety of building or structural purposes. It protects and routes electrical wiring throughout a building or structure. An electrical conduit protects wires from external damage for an extended period of time while also providing a proper passage. The two most common types of electrical conduits are rigid and flexible. A rigid electrical conduit is typically used outside to protect against damage and provide structural support for electrical cables, panels, and other equipment. The flexible electrical conduit's spiral design allows it to snake through walls and other structures. These electrical conduit systems are among the most dependable and popular wiring systems on the market, and they are primarily used for safety purposes. Electrical conduit is one of the most secure wiring systems and offers a visually appealing view of electrical wiring. These conduit systems are highly sought after because they protect the enclosed conductors from impact, moisture, and chemical vapors. Also, it is long-lasting. Also, the electrical conduit protects the insulation from accidental damage. When properly sealed, a conduit prevents the flow of flammable gases and vapors, protecting against fire and explosion hazards in areas that handle volatile substances. These properties of electrical conduit make it a popular wiring system. However, when raw material costs rise, vendors raise their product prices or reduce their profit margins, causing market growth to slow down.
Browse key industry insights spread across 220 pages with 115 Market data tables and figures & charts from the report on the "Global Dairy Alternatives Market Size, Share, and COVID-19 Impact Analysis, By Type (Rigid and Flexible), By Material (Metallic and Non-Metallic), By Application (Energy, Rail Infrastructure, Manufacturing Facilities, Shipbuilding & Offshore Facilities, Process Plants, and Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033."
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The rigid segment dominates the market with the highest market share of the global electrical conduit market during the projected period.
Based on the type, the global electrical conduit market is divided into rigid and flexible. Among these, the rigid segment dominates the market with the highest market share of the electrical conduit market during the projected period. Electric conduit is strong and durable, making it ideal for heavy-duty industrial and commercial applications. They are made of steel, aluminum, or PVC and offer excellent protection from physical damage, moisture, and corrosion while adhering to strict safety regulations. Their durability makes them ideal for environments that require extensive mechanical protection, such as factories and warehouses.
The metallic segment is anticipated to grow at the fastest pace during the projected period.
Based on the material, the global electrical conduit market is categorized into metallic and non-metallic. Among these, the metallic segment is anticipated to grow at the fastest pace during the projected period. These steel and aluminum conduits are extremely durable and offer excellent shielding for electrical wiring in industrial and commercial settings. Their strength and resistance to impact, moisture, and chemicals make them the best choice for environments that require high mechanical protection and adherence to safety protocols.
The energy segment is anticipated to grow at the fastest pace during the projected period.
Based on the application, the global electrical conduit market is categorized into energy, rail infrastructure, manufacturing facilities, shipbuilding & offshore facilities, process plants, and others. Among these, the energy segment is anticipated to grow at the fastest pace during the projected period. Electric conduits are widely used in the power generation, transmission, and distribution infrastructure. The integration of renewable energy sources such as solar and wind, along with ongoing power grid modernization, are driving the demand for robust and dependable conduit systems.
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North America is expected to hold the largest share of the global electrical conduit market over the forecast period.
North America is expected to hold the largest share of the global electrical conduit market over the forecast period. Due to significant investments in infrastructure modernization and smart grid technologies. The United States contributes significantly to this dominance, as evidenced by initiatives like the Biden Administration's infrastructure plan, which invests billions of dollars in electrical infrastructure. These initiatives seek to upgrade the national grid and incorporate renewable energy sources.
Asia Pacific is predicted to grow at the fastest pace in the global electrical conduit market during the projected period. due to rapid industrialization, urbanization, and significant investments in infrastructure development, particularly in China and India. These countries make significant investments in expanding and upgrading their electrical infrastructure to support their growing economies. Large-scale projects like China's Belt and Road Initiative and India's Smart Cities Mission are driving demand for electrical conduits.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in the global electrical conduit market are MDM Analytics, ABB, Schneider Electric, Legrand, Siemens, General Electric, Atkore International, Eaton Corporation, Southwire Company, Cooper Industries, Hubbell, Robroy Industries, Sekisui Chemical Co., Ltd., Aliaxis SA, Dura-Line Corporation, Anamet Electrical, Inc., Others Key Players.
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Recent Developments
- In November 2022, Atkore International announced the acquisition of Elite Polymer Solutions for USD 91.6 million. This strategic move aims to improve Atkore's product offerings and market presence in the electrical conduit industry by incorporating Elite Polymer Solutions' advanced polymer technologies and innovative solutions.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global electrical conduit market based on the below-mentioned segments:
Global Electrical Conduit Market, By Type
- Rigid
- Flexible
Global Electrical Conduit Market, By Material
- Metallic
- Non-Metallic
Global Electrical Conduit Market, By Application
- Energy
- Rail Infrastructure
- Manufacturing Facilities
- Shipbuilding & Offshore Facilities
- Process Plants
- Others
Global Electrical Conduit Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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