What Has Been The Evolution of the Cable Conduit Systems Market in Recent Years?
The cable conduit systems market has seen considerable growth due to a variety of factors.
• There has been robust growth in the size of the cable conduit systems market in the past few years. The market is anticipated to expand from $7.44 billion in 2024 to $8.08 billion in 2025, following a compound annual growth rate (CAGR) of 8.6%.
This growth in the previous period can be credited to swift urban growth, rising income levels, increase in the number of data centers, enhanced investments in the development of urban infrastructure, and a heightened focus on working area safety.
How Will the Cable Conduit Systems Market?
The cable conduit systems market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of cable conduit systems is predicted to witness robust growth in the upcoming years, reaching $11.16 billion by 2029 with an 8.4% Compound Annual Growth Rate (CAGR). The surge in the projected period is due to the focus on energy-saving cabling, the emergence of electric vehicles, advancements in industrial automation, escalating concerns for fire safety, and the growth of commercial real estate. Notable trends for the foreseen period include the development of advanced materials, intelligent conduit systems, installation-compliant designs, incorporation of smart home technologies, and the embracement of digital technologies.
Which Factors Are Boosting Growth In The Cable Conduit Systems Market?
The cable conduit systems market is anticipated to flourish due to the rise in housing projects. These projects, which refer to the construction of new residential buildings like houses and apartments, occur due to factors such as population growth, urbanization, and greater need for residential spaces. Cable conduit systems positively contribute to these housing schemes by safeguarding the electrical wiring against possible harm and ensuring it adheres to safety codes. Furthermore, these systems aid in easier maintenance and upgrades and enhance the overall beauty of these spaces. For example, the Australian Bureau of Statistics, a government administration based in Australia, reported that 240,813 dwellings were under construction in the March quarter of 2023, a rise from 240,065 in March 2022. What's more, 103,778 of these in 2023 were new houses, compared to 101,240 in 2022. Consequently, the surge in housing projects is fueling the growth of the cable conduit systems market.
What Key Areas Define The Segmentation Of The Global Cable Conduit Systems Market?
The cable conduit systemsmarket covered in this report is segmented –
1) By Type: Rigid Cable Conduit Systems, Flexible Cable Conduit Systems
2) By Material: Metallic, Non-Metallic
3) By End User: Manufacturing, Commercial Construction, Information Technology (IT) And Telecommunication, Healthcare, Energy, Other End Users
Subsegments:
1) By Rigid Cable Conduit Systems: Rigid PVC Conduit, Rigid Metal Conduit (RMC), Intermediate Metal Conduit (IMC), Electrical Metallic Tubing (EMT)
2) By Flexible Cable Conduit Systems: Flexible Non-Metallic Conduit, Flexible Metallic Conduit, Liquid Tight Flexible Conduit, Braided Conduit
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What Trends Are Reshaping The Future Of The Cable Conduit Systems Market?
Leading companies involved in the cable conduit systems industry are pioneering new products like electrical conduit solutions to increase safety, lifespan, and ease of setup. These electrical conduit solutions bolster the cable conduit systems by providing superior protection, order, and pathing for electrical wires, safeguarding against risks and adhering to industry regulations, while also diminishing potential damage and safety threats. For example, in July 2023, Franklin Electric, a company based in the United States, unveiled their CableTight System. This innovative watertight electrical conduit solution is tailored for harsh subterranean settings. The system encompasses uninterrupted runs of high-density polyethylene (HDPE) conduit, furnished with press-fit connectors for swift and precise installation, and guarantees a watertight seal. The CableTight System is made from pliable HDPE, ensuring it doesn't crack or kink during installations in cold climate. It is built to bear impacts, thereby confirming its reliability in bustling construction sites.
Who Are the Key Players In The Cable Conduit Systems Market?
Major companies operating in the cable conduit systems market are:
• Panasonic Corporation
• ABB Ltd.
• Southwire Company LLC
• Legrand S.A.
• Aliaxis Group SA/NV
• Atkore International Group Inc.
• Schneider Electric SE
• nVent Electric plc.
• Franklin Electric Co. Inc.
• Lapp Tannehill Inc.
• Supreme Industries Limited
• IPEX USA LLC.
• Cantex Inc.
• NSI Industries LLC
• Electri-Flex Company
• Kaiphone Technology Co. Ltd.
• Flexa GmbH & Co Produktion & Vertrieb KG
• AKG Group
• Niedax India Cable Management Systems Pvt. Ltd.
• BEC Conduits Pvt. Ltd.
• Zhejiang Flexible Technology Co. Ltd.
• Anamet Electrical Inc.
What Is The Most Dominant Region In The Cable Conduit Systems Market?
North America was the largest region in the cable conduit systems market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the cable conduit systems market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
