Selbyville, Delaware,, Jan. 08, 2024 (GLOBE NEWSWIRE) --
The flexible electrical conduit market is expected to reach USD 3.6 billion by 2032, as reported in a research study by Global Market Insights Inc. The proliferation of solar and wind energy projects globally and the surging demand for flexible conduits to accommodate intricate wiring systems may boost the preference for flexible electrical conduit.
For instance, in October 2023, Amazon launched 39 new renewable energy projects in Europe for providing more than one gigawatt of clean energy capacity to European grids. Flexible conduits provide essential protection for cables for ensuring durability and safety in renewable energy applications. Adaptability to dynamic requirements of renewable energy projects combined with the incessant need for efficient cable management will also add to the market growth.
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Flexible electrical conduit market from the flexible metallic configuration segment is projected to gain significant traction from 2023 to 2032 owing to their superior durability, flexibility, and robustness in various applications. Given their ability to withstand extreme conditions, such as high temperatures and mechanical stress, flexible metallic conduits have emerged essential components in demanding environments in construction, manufacturing, and infrastructure for efficient cable protection.
The industrial end-use segment generated substantial market is estimated to depict a notable growth rate between 2023 and 2032 attributed to the growing adoption of flexible electrical conduits across multiple industries due to their resilience and adaptability. With the expansion of manufacturing and industrial facilities, the demand for flexible conduits is rising to accommodate intricate electrical installations. The ability of flexible electrical conduits to withstand harsh conditions, resist corrosion, and facilitate easy maintenance will also contribute to its widespread adoption.
North America flexible electrical conduit market is set to exhibit robust growth through 2032 fueled by expanding construction activities, infrastructure development, and the increasing adoption of smart buildings in the region. The growing emphasis on energy efficiency coupled with the influx of stringent safety standards is boosting the adoption of flexible conduits in electrical systems. Furthermore, massive investments for promoting the integration of renewable energy sources is anticipated to boost the regional industry expansion.
The competitive landscape of the flexible electrical conduit market comprises leading companies, such as CANTEX INC, ABB, Schneider Electric, Wienerberger AG, Hubbell, Electri-Flex Company, HellermannTyton, Southwire Company LLC, legrand, Atkore, Kaiphone Technology Co. Ltd., and many others. These firms are introducing new and upgraded products to meet the evolving industry needs, further contributing to the dynamic growth of the market. For instance, in February 2023, Atkore expanded its Calbond product range to include PVC-coated color conduit, struts, fittings, and accessories to offer clients various color choices for coated conduit projects, including aesthetics, corporate branding and specialized system designation.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Flexible electrical conduit industry 3600 synopsis, 2019 - 2032
Chapter 3 Flexible Electrical Conduit Market Insights
3.1 Industry ecosystem analysis
3.2 Regulatory landscape
3.3 Industry impact forces
3.4 COVID- 19 impact on the industry outlook
3.5 Growth potential analysis
3.6 Porter's Analysis
3.6.1 Bargaining power of suppliers
3.6.2 Bargaining power of buyers
3.6.3 Threat of new entrants
3.6.4 Threat of substitutes
3.7 PESTEL Analysis
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
