Dublin, Oct. 27, 2021 (GLOBE NEWSWIRE) -- The "Global Electrical Conduit Market by Type (Rigid & Flexible), Material (Metallic & Non-Metallic), End-use Industry (Building & Construction, Industrial Manufacturing, IT & Telecommunication, Oil & Gas, Energy & Utility, Others) and Region - Forecast to 2026" report has been added to ResearchAndMarkets.com's offering.
The global electrical conduit market is estimated to be USD 6.5 billion in 2021 and is projected to reach USD 9.1 billion by 2026, at a CAGR of 6.9% from 2021 to 2026.
The driving factors for the electrical conduit market is rapid pace of industrialization and urbanization, and rise in demand for electricity or power generation across the globe. The growth of the electrical conduit market is supported by increasing awareness regarding public safety and the implementation of safety regulations by governments.
Flexible electrical conduit is expected to be the fastest-growing type in the electrical conduit market during the forecast period
The flexible segment is projected to be the fastest-growing segment in the electrical conduit market. This electrical conduit is lightweight, typically less expensive than other options, and versatile & easy to install. Flexible electrical conduit is much easier to work with than rigid metal or plastic conduit. This is because there is no bending involved. However, flexible electrical conduit will not offer quite as much protection as rigid electrical conduit. It is flexible and can snake through walls and other structures. This electrical conduit is used owing to its advantages such as lightweight conduit, typically less expensive than other options, and versatile & easy to install.
Non-metallic segment is expected to grow at higher CAGR in the electrical conduit market during the forecast period
Non-metallic conduit is common both in rigid and flexible conduits. These conduits are easy to install, lightweight, and hand bendable. Furthermore, non-metallic conduit also offers resistance to corrosion and good protection from moisture ingress. Non-metallic materials used for electrical conduit include PVC, PP, HDPE, and other materials. For use above ground, non-metallic conduit must be flame retardant, tough, and resistant to heat, sunlight, and low-temperature effects.
Building & construction segment accounted for the largest in the electrical conduit market during the forecast period
The building & construction segment accounted for the largest share of 54.6% of the overall electrical conduit market in 2020. Building & construction is the dominant end-use industry in the electrical conduit market. The building & construction industry can be divided into residential and commercial segments. Commercial buildings include shops, shopping malls, restaurants, banks, hotels, warehouses, offices, and so on. According to the National Fire Protection Association, "Electrical failures were considered to be the second-leading cause for fires, and it resulted in around 13% of the US homes catching fire due to unattended equipment and wires. Also, 18% of the civilian deaths with around 20% of property damage are due to electrical failures.
Wiring systems in buildings may be subject to frequent alterations. Frequent wiring changes are made simpler and safer through the use of electrical conduit, as existing conductors can be withdrawn and new conductors installed, with little disruption along the path of the conduit. Furthermore, an electrical conduit is used to protect and route electrical wiring in a building or structure. For workshops and public buildings, conduit wiring is the best and most desirable system of wiring and also provides protection and safety against fire.
APAC is the largest market for electrical conduit
APAC led the global electrical conduit market, accounting for a share of 37.8% in 2020. APAC is segmented into China, Japan, India, South Korea, and the Rest of APAC. Factors such as ready availability of raw materials and manpower, along with sophisticated technologies and innovations, have driven economic growth in the APAC region. According to the World Bank, the two economic giants of the APAC region, China and Japan, were the world's second and third-largest economies as of 2020.
APAC was the largest market for electrical conduit, in terms of value, in 2020. Emerging economies in APAC are expected to have significant demand for electrical conduit due to the growth of the construction industry led by the rapid economic development and government initiatives in infrastructural developments. In addition, the rising population in these countries represents a strong customer base.
APAC is expected to be the fastest-growing market for electrical conduit globally during the forecast period. Significant consumer base, rising urban population, low labor costs, and easy availability of raw materials are attracting international companies to shift their production facilities to the region, thus creating a high demand for electrical conduits in these industries. The increase in demand for electrical conduit can be largely attributed to the growing infrastructure and building & construction industries. The demand for electrical conduits is rising rapidly in the region owing to the high demand from the infrastructural sector.
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Premium Insights
4.1 Emerging Economies to Witness Higher Demand for Electrical Conduit
4.2 APAC: Electrical Conduit Market, by End-Use Industry and Country
4.3 Electrical Conduit Market, by Type
4.4 Electrical Conduit Market, by Material
4.5 Electrical Conduit Market, by End-Use Industry
4.6 Electrical Conduit Market, by Country
5 Market Overview
5.1 Introduction
5.2 Market Dynamics
5.2.1 Drivers
5.2.1.1 High Demand for Electrical Conduit due to Their Beneficial Properties
5.2.1.2 No/Less Risk of Electric Shock & Fire When Using Electrical Conduits
5.2.2 Restraints
5.2.2.1 Volatility in Raw Material Prices
5.2.3 Opportunities
5.2.3.1 Increasing Demand for Electrical Conduit for Electricity/Power Generation
5.2.3.2 Population Growth and Rapid Urbanization Translating to Large Number of Construction Projects
5.2.4 Challenges
5.2.4.1 Difficulty in Finding Defects & Managing/Adding Additional Connections in the Future
6 Industry Trends
6.1 Supply Chain Analysis
6.1.1 Prominent Companies
6.1.2 Small & Medium Enterprises
6.2 Porter's Five Forces Analysis
6.2.1 Threat of New Entrants
6.2.2 Threat of Substitutes
6.2.3 Bargaining Power of Suppliers
6.2.4 Bargaining Power of Buyers
6.2.5 Intensity of Competitive Rivalry
6.3 YC-YCC Drivers
6.4 Market Mapping/Ecosystem Map
6.5 Patent Analysis
6.5.1 Introduction
6.5.2 Methodology
6.5.3 Document Type
6.5.4 Insight
6.5.5 Top Companies/Applicants
6.5.6 Disclaimer
6.6 Technology Analysis
6.7 Regulatory Analysis
6.8 Pricing Analysis
6.8.1 Rigid Metal Conduit
6.8.2 Flexible Metal Conduit
6.8.3 Rigid Non-Metallic Conduit
6.8.4 Flexible Non-Metallic Conduit
6.9 Trade Analysis
6.10 Case Study Analysis
6.11 Impact of COVID-19
6.11.1 Introduction
6.11.2 Impact of COVID-19 on Electrical Conduit Market
6.12 End-Use Industries
6.12.1 Impact of COVID-19 on Building & Construction Industry
6.12.2 Impact of COVID-19 on Oil & Gas Industry
6.12.3 Impact of COVID-19 on Energy Industry
7 Electrical Conduit Market, by Type
7.1 Introduction
7.2 Rigid
7.3 Flexible
8 Electrical Conduit Market, by Material
8.1 Introduction
8.2 Metallic
8.2.1 Stainless Steel
8.2.2 Aluminum
8.3 Non-Metallic
8.3.1 PVC
8.3.2 HDPE
8.3.3 PP
8.3.4 Others
9 Electrical Conduit Market, by End-Use Industry
9.1 Introduction
9.2 Building & Construction
9.3 IT & Telecommunication
9.4 Industrial Manufacturing
9.5 Energy & Utility
9.6 Oil & Gas
9.7 Others
10 Electrical Conduit Market, by Region
11 Competitive Landscape
11.1 Overview
11.2 Companies Adopted Expansion as the Key Growth Strategy Between 2019 and 2021
11.3 Market Ranking Analysis
11.4 Market Share Analysis
11.5 Revenue Analysis of Top Five Market Players
11.5.1 Star
11.5.2 Emerging Leaders
11.5.3 Pervasive
11.6 SME Matrix, 2020
11.6.1 Progressive Companies
11.6.2 Responsive Companies
11.6.3 Dynamic Companies
11.6.4 Starting Blocks
11.7 Competitive Scenario
11.7.1 Recent Developments
12 Company Profiles
12.1 Major Players
12.1.1 Atkore International Group Inc.
12.1.2 Hubbell Incorporated
12.1.3 Legrand S.A.
12.1.4 Schneider Electric SE
12.1.5 Sekisui Chemical Co. Ltd.
12.1.6 Aliaxis S.A.
12.1.7 Thomas and Betts
12.1.8 Robroy Industries
12.1.9 Hellermanntyton Group plc
12.1.10 Dura-Line Corporation
12.1.11 National Pipe & Plastics, Inc.
12.1.12 Cantex Inc.
12.1.13 Zekelman Industries Inc.
12.1.14 JM Eagle Inc.
12.1.15 OPW Corporation
12.1.16 Premier Conduit Inc.
12.1.17 Helenge Sul - Industrial Supplies Corp.
12.1.18 International Metal Hose Company
12.1.19 Anamet Electrical Inc.
12.1.20 Asperbras Group
12.2 Other Company Profiles
12.2.1 Tigre Group S.A.
12.2.2 Daltco Electric
12.2.3 Puhui Industry Co. Ltd
12.2.4 Conduit S.A. de C.V.
12.2.5 Krona Tubos e Conexoes
13 Appendix
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