What Fueled The Previous Growth In The Electrical Conduit Market?
The electrical conduit market has seen considerable growth due to a variety of factors.
• The size of the electrical conduit market has seen robust growth in the past few years. The market, which was valued at $7.25 billion in 2024, is projected to reach $7.77 billion in 2025, with a compound annual growth rate (CAGR) of 7.1%.
The historical growth can be credited to several factors such as a surge in construction activities, increased installation of electrical wiring and cables, rising industrial and commercial development, heightened demand for the safety and protection of electrical wiring, as well as swift urbanization and infrastructure development.
What Is The Expected Growth In The Electrical Conduit Market Size?
The electrical conduit market is expected to maintain its strong growth trajectory in upcoming years.
• The market for electrical conduits is predicted to witness robust expansion in the coming years, surging to a staggering $10.28 billion by 2029, with a Compound Annual Growth Rate (CAGR) of 7.3%.
This growth, anticipated over the forecast period, can be traced back to several factors such as infrastructural development and upgrades, proliferation of renewable energy schemes, amplified requirements for fiber optic conduits, modernization of smart grid and electrical infrastructure, global market growth and emerging markets' expansion, and the widening scope of data centers and IT infrastructure. The forecast period will also see significant trends such as the incorporation of smart buildings, sustainable and environmentally friendly conduits, technological breakthroughs in conduit materials, advancements in conduit material innovations, and the inception of flexible and rigid conduit solutions.
What Are the Critical Driver Fuelling the Electrical Conduit Market's Growth?
Expectations are high that the electrical conduit market will be stimulated by the surging demand for power or electricity generation. This surge is attributed to swift industrialization and urbanization, processes that necessitate the use of electrical conduits. For instance, the International Energy Agency, an intergovernmental organization based in France, projected in July 2024 that there would be around a 4% growth in global electricity demand in 2024, a significant jump from the 2.5% recorded in 2023. Consequently, this escalating demand for electricity generation is projected to influence the expansion of the electrical conduit market.
How Is the Electrical Conduit Market segmented?
The electrical conduit market covered in this report is segmented –
1) By Type: Rigid, Flexible
2) By Material: Metallic, Non Metallic
3) By End Use Industry: Building And Construction, Industrial Manufacturing, IT And Telecom, Oil And gas, Energy And Utility, Other End-Users
Subsegments:
1) By Rigid: Rigid Metal Conduit (RMC), Intermediate Metal Conduit (IMC), Rigid PVC Conduit, Galvanized Steel Conduit
2) By Flexible: Flexible Metal Conduit (FMC), Liquid-Tight Flexible Metal Conduit (LFMC), Flexible Non-Metallic Conduit (FNMC), Liquid-Tight Flexible Non-Metallic Conduit (LFNC)
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What New Trends Are Influencing the Electrical Conduit Market?
Leading players in the electrical conduit market are concentrating on the conceptualization of innovative solutions such as premium conduit systems. This strategy is aimed at improving their robustness, enhancing safety standards, and fulfilling the increasing requirement for effective electrical infrastructures in commercial and residential applications. Premium conduit systems are high-caliber electrical conduits made using cutting-edge materials and technologies, offering increased durability, high-quality protection for electric wiring, and resilience to environmental elements. For example, Termination Technology Limited, a manufacturer of cable accessories for the electrical wholesaler market in the UK, unveiled their Premflex range in July 2022, which is a superior collection of conduits and glands specifically crafted for exceptional performance under varying conditions. The product line constitutes options crafted from Bare Galv, PVC Coated Galv, and LSZH Coated Galv, with sizes spanning from M16 to M50. The objective of the Premflex range is to meet the demands of contractors on the lookout for robust and simple-to-install items, and is equipped with both fixed and rotating gland options.
Who Are the Key Players in the Electrical Conduit Market?
Major companies operating in the electrical conduit market include:
• ABB Ltd.
• Atkore International Group Inc.
• Cantex Inc.
• Champion Fiberglass Inc.
• China Lesso Group Holdings Ltd.
• Dura-Line Corporation
• HellermannTyton Group PLC.
• Hubbell Incorporated
• Legrand
• Alary & Joquel Company.
• Nan Ya Plastics Corporation
• Robroy Industries Inc.
• Schneider Electric SE
• Sekisui Chemical Co.
• Thomas and Betts Corporation
• Zekelman Industries Inc.
• AFC Cable Systems
• Anamet Electrical Inc.
• Astral Poly Technik Ltd.
• Calpipe Industries Incorporated
• D.P. Jindal Group
• Eaton Corporation PLC.
• Electri-Flex Company
• igus inc.
• International Metal Hose Company
• JM Eagle Inc.
• Flex-It Co. Inc.
• Graybar Electric Company Inc.
• HellermannTyton Ltd.
• IPEX USA LLC
• Kaf-Tech Inc.
• National Pipe & Plastics Inc.
• Ocal Ltd.
What Is The Most Dominant Region In The Electrical Conduit Market?
Asia-Pacific was the largest region in the electrical conduit market in 2024. Asia-Pacific is expected to be the fastest growing market in the electric conduit market during the forecast period. The regions covered in the electrical conduit market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
