Electrical Conduit Market Forecasts to 2028 – Global Analysis By Material (Metallic, Non-Metallic and Other Materials), Type (Flexible, Rigid, Other Types), Application, End User and By Geography

Electrical Conduit Market Forecasts to 2028 – Global Analysis By Material (Metallic, Non-Metallic and Other Materials), Type (Flexible, Rigid, Other Types), Application, End User and By Geography

According to Stratistics MRC, the Global Electrical Conduit Market is accounted for $7.1 billion in 2022 and is expected to reach $11.8 billion by 2028 growing at a CAGR of 8.8% during the forecast period. Electrical wiring is protected and routed through a building or structure using an enclosure called an electrical conduit. Conduit is installed by an electrician as part of the construction project's electrical wiring installation. The most common materials for electrical conduits are polyvinyl chloride and other polymers like polypropylene and high-density polyethylene. However, conduits can also be made out of steel and aluminium tubes. A wide range of operating temperatures and good flame resistance are required for electrical conduits.

According to the new IEA (International Energy Agency) report in 2021, there is an expected rise of 5% in electricity demand. According to the International Energy Agency, “The global electricity demand in 2021 has increased by 4.5% or over 1 000 TWh.

Market Dynamics:

Driver:

Increase in infrastructural and construction activities

Rapid industrialization and urbanisation are occurring around the world, particularly in emerging countries. Urbanisation and city population have grown as a result of people moving from rural to urban areas in quest of better possibilities. To support the expanding urban population, better infrastructure is needed. The market has expanded as a result of the aforementioned elements, easy financing, and greater government involvement.

Restraint:

Difficulty in finding defects & managing

Installing an electrical conduit system takes longer than usual because it is challenging to do it. This conduit requires more time to install and is not a simple or quick process to install. It is exceedingly difficult to identify any wiring flaws in these electrical conduit systems and the fault-finding process is highly challenging. Additionally, managing additional connections in the future is extremely difficult. These challenges with electrical conduits present a significant challenge.

Opportunity:

High demand for electrical conduit

Electrical conduit is a type of piping system that is used to protect and route electrical wiring. In the mechanical and electrical engineering fields, it is used to shield cables, wires, and data lines from extremes in temperature, pressure, tensile stress, and other factors. One of the most dependable & well-liked wiring systems on the market, these electrical conduit systems are mostly used for safety reasons. These elements are affecting the market's expansion.

Threat:

Volatility in raw material prices

Electrical conduit is produced using volatile raw materials and energy. The units of the value chain, which comprise procurement and operating costs, are directly impacted by the pricing of these commodities. The primary driver of price changes for these basic materials is volatility in the cost of energy and crude oil, which are needed in their production and transportation. These fluctuations are impeding market expansion.

Covid-19 Impact

The COVID-19 epidemic had a significant negative influence on the electrical conduit business. Despite the possibility of continued operation, delays and halts are anticipated due to supply chain disruptions, a labour and material scarcity, and other factors. Manufacturers and suppliers of electrical conduit were heavily impacted by federal, state, and local safety and governmental directives. Every industry throughout the world has been impacted by the pandemic. However, the pandemic hindered the need for electrical conduit, primarily because the building industry's demand for these conduits decreased.

The flexible segment is expected to be the largest during the forecast period

The flexible segment is estimated to have a lucrative growth, due to it is lightweight, typically less expensive than other options, and versatile & easy to install. Flexible electrical conduit is much easier to work with than hard metal or plastic conduit. This results from the lack of any bending. However, flexible electrical conduit won't offer as much protection as rigid electrical conduit. This electrical conduit is employed because of its advantages, including being lightweight, frequently less expensive than alternative alternatives, versatile, and simple to install.

The non-metallic conduit segment is expected to have the highest CAGR during the forecast period

The non-metallic conduit segment is anticipated to witness the fastest CAGR growth during the forecast period, due to these conduits is easy to install, lightweight, and hand bendable. Non-metallic conduit also provides resistance to corrosion and effective protection against moisture infiltration. PVC, PP, HDPE, and other materials are used to make electrical conduit. Non-metallic conduit must be flame retardant, durable, and resistant to the effects of heat, sunshine, and low temperatures in order to be used above ground.

Region with Largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to factors such as ready availability of raw materials and manpower. Due to the expansion of the construction sector, which is driven by brisk economic growth and government initiatives for infrastructure development, emerging nations are likely to experience increasing demand for electrical conduit. The strong demand from the infrastructure industry is driving up the demand for electrical conduits in the area.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to increase in demand for electrical conduit. A sizable consumer base, a growing urban population, low labour costs, and easy access to raw materials are luring foreign businesses to relocate their manufacturing operations to the area, which is raising the demand for electrical conduits in these sectors. The market has grown as a result of the rising use of renewable energy sources and the need for new grids.

Key players in the market

Some of the key players profiled in the Electrical Conduit Market include Hubbell Incorporated, China Lesso Group Holdings Limited, Wienerberger AG, Atkore International Inc., Zekelman Industries Inc., ANAMET Electrical, Inc., ABB Group, Cantex, Inc., Schneider Electric SE, Sekisui Chemical Co, D.P. Jindal Group, Eaton Corporation Plc, International Metal Hose Company, Champion Fiberglass, Inc. and Dura-Line Corporation.

Key Developments:

In February 2021, Atkore International Group Inc. acquired FRE Composites Group, a leading manufacturer of fiberglass conduit solutions for the electrical, transportation, telecommunication, and infrastructure markets. This acquisition helped in expanding Atkore’s conduit product portfolio.

In October 2020, Atkore International Group Inc. acquired the assets of Queen City Plastics, Inc., a manufacturer of PVC conduit, elbows, and fittings for the electrical market. This acquisition strengthened Atkore’s existing product portfolio and enabled to serve customers in the Southeast and mid-Atlantic regions of the US.

Materials Covered:
• Metallic
• Non-Metallic
• Other Materials

Types Covered:
• Flexible
• Rigid
• Other Types

Applications Covered:
• Shipbuilding
• Rail Infrastructure
• Energy
• Process Plant
• Other Applications

End Users Covered:
• Utility
• Industrial
• Residential
• Commercial
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements