Cable Conduit Systems Market Report, published by Allied Market Research, forecasts that the global market is expected to garner $7.3 billion by 2022, registering a CAGR of 11.2% during the forecast period 2016 - 2022. North America accounted for the highest share of the overall market revenue in 2015. However, Asia-Pacific region is expected to witness the fastest growth during the forecast period, surpassing the North American market from 2017 onwards.
Portland, OR -- (SBWIRE) -- 09/25/2017 -- Cable Conduit Systems Market is expected to garner $7.3 billion by 2022, registering a CAGR of 11.2% during the forecast period 2016 - 2022. Today's industrial and commercial sectors demand for efficient wiring systems with frequently alterable properties. Better safety and security is a matter of concern during installation of wiring systems. The success of cable management industry depends upon innovating products according to installation and cost convenience. An electrical conduit is advantageous since it results in simpler wiring and is safer, permitting easier and frequent alterations in the wiring system, providing protection even in damp and hazardous locations. Moreover, it is an effective way to protect the wiring system from environmental and other conditions such as chemical vapors, electromagnetic interference, moisture and others.
The cable conduit market exhibits a phenomenal growth owing to increasing expansion of the construction industry and rising adoption of frequently alterable wiring systems in buildings. However, increasing prices of raw materials often prove to be a restraint for the market growth. The cable conduit systems market denotes a promising picture for future growth of efficient cable management. The recent business scenario has witnessed an upsurge in usage of cable conduit systems across commercial and industrial constructions. Companies are now adopting efficient techniques in an effort to provide consumers with innovated and cost-efficient products.
The companies profiled in this report are Atkore International Inc., Thomas & Betts Corporation, Legrand, Schneider Electric, Hubbell Incorporated, AFC Cable Systems, Inc., Calpipe Industries, Inc., Eaton Corporation Plc., Dura-Line Holdings, Inc., igus inc. and Champion Fiberglass, Inc. In order to attain a higher market share and geographic presence, the manufacturers of cable conduit systems are adopting strategies such as acquisition, partnership, expansion and product launch.
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The global cable conduit systems market is segmented by type, geography and end user. The cable conduit types comprise rigid and flexible conduits that can be either metallic or non-metallic. Rigid cable conduits contribute a revenue higher than flexible cable conduits. Among rigid conduits, rigid metallic conduits contribute the highest revenue to the cable conduit systems market. However, rigid non-metallic cable conduits are anticipated to exhibit the highest growth rate during the forecast period.
Flexible cable conduits are expected to depict a growth rate faster than rigid cable conduits owing to the ease in installation that they provide. The highest revenue in the flexible conduits market is generated by flexible metallic conduits. However, flexible non-metallic conduits are expected to be the fastest growing market during the forecast period. Flexible non-metallic conduits are made of materials cheaper than its metallic counterpart.
The end user segment consists of manufacturing, commercial construction, IT and telecommunication, healthcare, energy and others (government, residential segment, intelligent transportation systems). In the year 2015, the manufacturing sector garnered the highest revenue in cable conduit systems market. On the other hand, IT and telecommunication sector is predicted to be the fastest growing market in the cable conduits market.
Key findings of Cable Conduit Systems Market:
- The adoption of cable conduit systems is higher among industrial and commercial sectors compared to residential ones.
- Rigid cable conduits depict the highest market share compared to flexible conduits. However, flexible conduits are expected to grow at a faster rate than rigid conduits during the forecast period.
- Based on the geographic analysis, North America is currently the highest revenue-generating region; however, Asia-Pacific is expected to hold higher share by 2022.
- The end-user analysis portrays the manufacturing sector to be the highest contributor in the forecast period.
- Urbanization and upcoming infrastructural projects paired with technological innovations are the expected growth drivers of cable conduit systems market.
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