Dublin, October 27, 2021--(Business Wire)--"By type (rigid and flexible), material (metal and non-metal), end-use industry (building and construction, industrial manufacturing, IT and telecommunications, petroleum And Natural Gas, Energy and Utilities, Others) and Regions-Forecasts to 2026" report has been added to ResearchAndMarkets.com's products.
The global wire conduit market in 2021 is estimated to be 6.5 billion U.S. dollars and is expected to reach 9.1 billion U.S. dollars by 2026, with a compound annual growth rate of 6.9% from 2021 to 2026.
The driving factors of the electrical conduit market are the rapid pace of industrialization and urbanization, as well as the growth of global demand for electricity or generation. The growth of the power conduit market has benefited from the increased awareness of public safety and the government's implementation of safety regulations.
It is expected that during the forecast period, flexible electrical conduits will become the fastest growing type in the electrical conduit market
The flexible part is expected to be the fastest growing part of the electrical conduit market. This kind of electrical conduit is light weight, usually cheaper than other options, and is versatile and easy to install. Flexible electrical conduits are easier to use than rigid metal or plastic conduits. This is because no bending is involved. However, flexible electrical conduits will not provide as much protection as rigid electrical conduits. It is flexible and can pass through walls and other structures. This electrical conduit is used because it has the advantage of being lighter in weight, usually cheaper than other options, and it is versatile and easy to install.
During the forecast period, the non-metallic segment is expected to grow at a higher CAGR in the electrical conduit market
Non-metallic conduits are common in rigid conduits and flexible conduits. These conduits are easy to install, lightweight and can be bent manually. In addition, non-metallic conduits also have corrosion resistance and good moisture resistance. Non-metallic materials used for electrical conduits include PVC, PP, HDPE and other materials. For use on the ground, non-metallic conduits must be flame-retardant, tough, heat-resistant, sunlight-resistant and low-temperature resistant.
During the forecast period, the building and construction sector will account for the largest share of the electrical conduit market
In 2020, the building and construction sector accounted for the largest share of 54.6% of the entire electrical conduit market. Construction and construction are the dominant end-use industries in the electrical conduit market. The construction and construction industry can be divided into residential and commercial sectors. Commercial buildings include shops, shopping malls, restaurants, banks, hotels, warehouses, offices, etc. According to the National Fire Protection Association, “Electrical failure is considered to be the second leading cause of fires. It causes approximately 13% of American homes to catch fire due to unattended equipment and electrical wiring. In addition, approximately 18% of civilians 20% of property losses are caused by electrical failures.
The wiring system in a building may change frequently. By using electrical conduits, frequent wiring changes become simpler and safer, because existing conductors can be withdrawn and new conductors can be installed with almost no interruption in the path along the conduit. In addition, wire conduits are used to protect and route wires in buildings or structures. For workshops and public buildings, conduit wiring is the best and most ideal wiring system, and it also provides fire protection and safety protection.
The Asia-Pacific region is the largest wire conduit market
The Asia-Pacific region leads the global electrical conduit market, with a 37.8% share in 2020. The Asia-Pacific region is divided into China, Japan, India, South Korea, and the rest of the Asia-Pacific region. Factors such as the ready availability of raw materials and manpower, as well as advanced technology and innovation, have promoted economic growth in the Asia-Pacific region. According to data from the World Bank, as of 2020, China and Japan, the two largest economies in the Asia-Pacific region, are the second and third largest economies in the world, respectively.
Due to its beneficial properties, there is a high demand for wires
No/less risk of electric shock and fire when using wires
Raw material price fluctuations
Increasing demand for electrical wires and tubes for power generation
Population growth and rapid urbanization have translated into a large number of construction projects
It is difficult to find defects and manage/add additional connections in the future
AT&T Intellectual Property I LP
Conduit SA de CV
Helenge Sul-Industrial Supply Company
National Pipe & Plastics, Inc.
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