Electrical Conduit Systems Market to Reach US$ 8.12 Bn by 2022
According to a new market research report published by Credence Research “Electrical Conduit Systems (Rigid & Flexible; Metallic & Non-metallic) Market – Growth, Share, Opportunities, Competitive Analysis, and Forecast 2015 – 2022” the global electrical conduits market was valued at US$ 3,954.1 Mn in 2014 and is estimated to expand with a CAGR of 9.2% from 2015 to 2022.
Browse the full report at (Electrical Conduit Systems Market – Growth, Share, Opportunities & Competitive Analysis, 2015 – 2021) http://www.credenceresearch.com/report/electrical-conduit-systems-market
Electrical conduit systems form a subset of cable management systems which are used for carrying cables and wires. Conduits are tubular raceways designed for protection and routing of electrical cables/wires. The electrical conduit system comprises tubing (conduit) and the required fitting components such as elbows, clamps, connectors and others. The most popular types of electrical conduits include galvanized steel rigid conduits (GRC), electrical metallic tubing (EMT), intermediate metal conduit (IMC), aluminum rigid conduit and PVC conduit. By far, GRCs account for the largest share, in terms of revenue, in the global market. However, in terms of penetration, PVC conduit systems account for the largest share worldwide.
The electrical conduit systems market is largely driven by the ever-rising construction industry worldwide. Due to growing construction activities across the industrial, commercial and residential sectors, the demand for electrical conduit systems is expected to remain consistent in the coming years. Further, superior advantages over other wiring methods is another major factor propelling the market growth. Nevertheless, the market faces significant challenges due to higher costs of conduit systems coupled with availability of alternatives.
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The overall electrical conduit systems market is fragmented in nature with large number of players operating in the market globally. However, the market scenario varies largely across each of the major geographies. For instance, the market in Asia Pacific is more fragmented and unorganized as compared to that in North America and Europe. This is due to large number of regional players in the region making higher market penetration difficult for any single player. On the contrary, North America market is quite consolidated with some of the major players such as Atkore International, Inc., Thomas and Betts Corporation, Robroy Industries, Inc. and others accounting for substantial market share.
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Penetration in emerging economies having booming construction industry
Focus on providing halogen free and green conduit systems suitable for food and healthcare applications
Emphasis on providing conduit systems to the industrial segment due to its high profitability
Focus on online sales due to growing online retail industry
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