The global market is projected to register a CAGR of 3.5% throughout the period of forecast, 2017-2025.
Albany, NY -- (SBWIRE) -- 12/22/2017 -- Market Research Reports Search Engine (MRRSE) has been serving as an active source to cater intelligent research report to enlighten both readers and investors. This research study titled "Global Market Study on Electrical Conduit Pipe: Plastic Material Type Anticipated to Register Healthy Growth Through 2025 "
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As stated by Persistence Market Research, the global electrical conduit pipe market is anticipated to grow at a steady rate to reach a significant value by the end of the assessment period. The electrical conduit pipe market has been consistently growing since 2012 with a slow growth rate. In 2017, the global electrical conduit pipe market reflected a value of about US$ 25 Bn and is estimated to reach a market valuation of more than US$ 33 Bn by the end of the period of assessment. The global market is projected to register a CAGR of 3.5% throughout the period of forecast, 2017-2025.
Growing urbanization increases demand for electrical conduit pipe. It is estimated that China, the U.S. and India are prominent regions where rural areas are being converted into urban areas and these countries will collectively be responsible for more than a 50% share of the growth in the construction industry by the end of 2020. With this continuous growth in the building & construction industry, the demand for electrical conduit pipes is expected to increase over the forecast period with the increase in urbanization. Moreover, increasing projects in the field of electrification and power supply also provide ample opportunity for the growth of the electrical conduit pipe market.
Plastic material to gain popularity in the global market in the near future
The plastic segment in the material category is expected to grow at a high rate as compared to the metal segment in the coming years. The plastic segment is valued a little over US$ 16 Bn in 2017 and is estimated to reach a value of around US$ 23.5 Bn. It is projected to grow at a CAGR of 4.6% throughout the period of forecast. This segment is expected to be highly lucrative and shows increased adoption owing to various benefits it provides, thus leading the global market. On the other hand, the metal segment is expected to grow at a sluggish rate in the coming years. Metal segment is estimated to be valued at around US$ 11.6 Bn by the end of 2025.
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HDPE sub segment to largely contribute to the growth of the parent category
The plastic segment is further categorized by HDPE, LDPE, PVC and others. Of these, the HDPE sub segment is soaring across the globe in terms of usage. This higher adoption has resulted in this sub segment to be highly attractive and can be considered worth investing in. The HDPE sub segment is projected to grow at a higher pace to register a CAGR of 5.1% throughout the forecast period and is estimated to reach a value of US$ 7555.5 Mn by the end of the period of assessment. This segment has shown continuous growth since past couple of years and is likely to continue this trend during 2017-2025, thus largely contributing to the growth of the plastic segment in the present scenario as well as in future.
In the metal segment, aluminium exhibits higher strength in terms of market value and is the leading sub segment. It is estimated to reach a value of about US$ 6 Bn by 2025. The steel segment also reflects high growth path and is expected to showcase a higher growth rate as compared to aluminium sub segment to register a CAGR of 2.8% during the forecast period.
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