Portland, OR, June 01, 2020 (GLOBE NEWSWIRE) -- According to the report, the global optical fiber and plastic conduit industry generated $4.15 billion in 2018, and is expected to reach $11.77 billion by 2026, registering a CAGR of 20.6% from 2019 to 2026. The report offers a detailed analysis of key market dynamics, key winning strategies, major segments, pricing, Porter’s Five Forces, and competitive landscape.
Widespread implementation of 5G, increase in adoption of fiber to the home (FTTH) connectivity, advent of the internet of things (IoT), and demand for highly secure and safe wiring systems augment the growth of the global optical fiber and plastic conduit market. However, high installation cost of optical fiber and conduits and increase of the wireless communication systems impede the market growth. Conversely, rise in investments in optical fiber cable (OFC) network infrastructure and emerging trends toward cable-in-conduits systems offer new opportunities to the market.
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COVID-19 Scenarios:
- The market has witnessed increased demand for optical fiber amid the COVID-19 outbreak due to a surge in work from home policies and internet applications.
- The continuity of essential services including food and agriculture, pharmaceuticals, health care, utilities, warehousing and logistics, oil and gas, emergency amid lockdown has further augmented the demand for optical fiber.
The global market is categorized based on mode, product type, connectivity, industry vertical, product, and region. Based on product type, the plastic optical fiber segment contributed to more than three-fifths of the total share of the global optical fiber market in 2018 and is expected to maintain its lead position during the forecast period. Moreover, the glass optical fiber segment is estimated to register the largest CAGR of 22.3% from 2019 to 2026.
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Based on connectivity, the segment of the flexible conduit held the highest market share of the global plastic conduit market in the IT and telecom market, contributing to more than two-thirds of the total share in 2018, and is estimated to continue its lead position in terms of revenue during the forecast period. However, the rigid conduits segment is estimated to grow at CAGR of 10.2% from 2019 to 2026.
Based on region, North America accounted for the highest market share in terms of revenue, accounting for nearly two-fifths of the global optical fiber and plastic conduit market in 2018, and is expected to maintain its dominance during the forecast period. However, Asia-Pacific is expected to maintain the fastest CAGR of 13.4% from 2019 to 2026. The report also analyzes regions including Europe and LAMEA.
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Key market players in the report include Hexatronic Cables & Interconnect Systems, Kuhkenah Network (K-Net), Cantex Inc., Atkore International, Dura-Line, Prime Conduit, Fujikura Ltd., Corning Incorporated, Sterlite Technologies Ltd., Furukawa Electric Co., Ltd., The Prysmian Group, and Emtelle.
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