Wiring Duct Market Forecasts to 2028 – Global Analysis By Type (Slotted Wire Duct, Solid-wall Wire Duct, Flexible Wire Duct and Other Types), Product (Flexible Cable Duct and Rigid Cable Duct), Material, Application, End User and By Geography

Wiring Duct Market Forecasts to 2028 – Global Analysis By Type (Slotted Wire Duct, Solid-wall Wire Duct, Flexible Wire Duct and Other Types), Product (Flexible Cable Duct and Rigid Cable Duct), Material, Application, End User and By Geography

According to Stratistics MRC, the Global Wiring Duct Market is accounted for $369.47 million in 2022 and is expected to reach $531.86 million by 2028 growing at a CAGR of 6.26% during the forecast period. Wiring duct is a technology that routes and conceals wiring in electrical control panels. As these wiring ducts are hard trays that are utilized as raceways, they safeguard and organize the wiring installations in the electric enclosures. Due to the materials used in the construction of homes and structures, wire systems cannot be applied easily without the use of wiring ducts. They also make it simple to remap wiring. They are therefore used in wires inside electric enclosures, cable raceways, and wiring systems for various end users, including building, industry, housing societies, commerce, and IT.

Market Dynamics:

Driver:

Growing demand for efficient cable management systems

Over the Anticipated period, there has been a growing demand for efficient cable management systems in several industries, including telecommunications, construction, and automotive. The increasing complexity and density of cable installations in these industries have made it necessary to have proper cable management systems in place to ensure safety and reduce the risk of damage or downtime. Manufacturers are continuously investing in research and development to offer innovative products that meet the evolving needs of their customers. Additionally, the adoption of advanced technologies, such as automation and IoT, is expected to further increase the demand for wiring ducts in various industries, which will accelerate market growth over the course of the forecast period.

Restraint:

Fluctuation in costs

The cost of raw materials, such as plastics and metals, used in the production of wiring ducts, can be volatile and subject to market fluctuations. This can have a significant impact on the production costs of wiring ducts, and ultimately affect their pricing. Moreover, the cost of energy, transportation, and labor can also fluctuate, further adding to the production costs of wiring ducts. As a result, manufacturers of wiring ducts are constantly seeking ways to improve their production processes and reduce costs to remain competitive, which are projected to impede the fog computing market's growth.

Opportunity:

Growing demand from the automotive industry

The automotive industry relies heavily on wiring ducts for the efficient management of electrical and wiring systems in vehicles. As the automotive industry continues to expand globally, the demand for wiring ducts is expected to increase. The growing demand for electric vehicles (EVs) is also contributing to the growth of the wiring duct market. EVs rely heavily on complex wiring systems, and wiring ducts play a critical role in organizing and protecting these systems. With the growing focus on sustainability and the increasing demand for EVs, the demand for wiring ducts is expected to continue to grow in the automotive industry and the growing demand for automobiles is driving the growth of the wiring duct market over the forecast period.

Threat:

Availability of low-cost alternatives

The market is highly competitive, with many manufacturers offering similar products at different price points. This has led to the emergence of low-cost alternatives that are attractive to price-sensitive customers. One such alternative is plastic cable ties, which are used as a substitute for wiring ducts in some applications. Plastic cable ties are significantly cheaper than wiring ducts, and they can be used to organize and manage cables in a similar way. This has led some customers to opt for plastic cable ties over wiring ducts, especially in low-cost applications. The availability of low-cost alternatives is a challenge for the wiring duct market, as it puts pressure on manufacturers to compete on price, which will impede the market growth over the forecast period.

Covid-19 Impact:

The COVID-19 epidemic has had a substantial impact on the size of the global wire duct market. An overall global slowdown in new projects has resulted in a drop in demand for analogue semiconductors. As workers remained at home, multinational manufacturers struggled to incorporate new wire ducts, which interrupted the supply chains around the world. Only the production and supply chain are stalled, therefore COVID-19's effects on this market are only transitory. Production, supply chains, and demand for wiring ducts will all progressively rise as soon as the situation becomes better. Companies should think about more sophisticated wiring ducts to increase efficiency with the help of this COVID-19 lockdown.

The Solid Wall Wire ducts segment is expected to be the largest during the forecast period

The Solid Wall Wire ducts segment is projected to witness the largest share as compared to other segments over the forecast period. The slotted wall wire duct market is expected to be the largest during the forecast period due to several factors, the growing demand for efficient and organized cable management systems in various industries is driving the demand for slotted wall wire ducts. As industries become more automated and digitalized, the need for reliable and efficient cable management solutions increases, thereby boosting market growth.

The IT & Telecom segment is expected to have the highest CAGR during the forecast period

The IT & Telecom industry has been experiencing significant growth in recent years, which has led to an increase in the demand for efficient cable management systems. Wiring ducts have been gaining popularity in this industry due to their ability to manage cables and wires in a structured and organized manner, thereby reducing the risk of equipment damage and downtime. Furthermore, the increasing adoption of Internet of Things (IoT) technology in the IT & Telecom industry is also expected to drive the growth of the wiring duct market. IoT devices require a lot of cabling and wiring, and efficient management of these cables is crucial for the successful operation of the system.

Region with largest share:

Asia Pacific region has the largest share in the wiring duct market. The region's dominance is due to the significant growth in the construction and manufacturing sectors, which are major end-users of wiring ducts. Countries such as China, India, and Japan have witnessed rapid industrialization and urbanization, which has led to an increase in demand for cable management systems like wiring ducts, Moreover, the increasing investment in renewable energy infrastructure projects such as solar and wind power plants has boosted the demand for wiring ducts in the Asia Pacific region, which is driving the demand for Wiring Ducts in the region.

Region with highest CAGR:

During the forecast period, North America is anticipated to have the fastest growth rate. The market for wiring ducts, with a well-established presence of major market players. The region is driven by the demand for efficient and reliable cable management systems across various end-use industries, such as construction, automotive, and telecommunications. The construction industry is a significant contributor to the demand for wiring ducts in the region, as the construction of new buildings and infrastructure requires proper cable management systems. Moreover, the rising trend of smart homes and the increasing demand for communication and networking systems are also expected to boost the demand for wiring ducts in North America.

Key players in the market:

Some of the key players in Wiring Duct Market include ABB Ltd., Aliaxis Group, Anamet Electrical Inc., Atkore International Inc., Barton Engineers Ltd., BPX Electro Mechanical Co. Ltd., Champion Fiberglass, Inc, Eaton Corporation PLC, Fastenal Company, Hager Group, Hammond Manufacturing, HellermannTyton, Legrand SA, Leviton Manufacturing Company, Mitsubishi International Corporation, Omega Engineering, Inc, Panduit, Phoenix Contact, Robroy Industries, Schneider Electric, Weidmüller Interface, Wheatland Tube and Zekelman Industries

Key Developments:

In February 2021, HellermannTyton launched a new range of halogen-free wiring ducts, which are designed to reduce the risk of toxic gas emissions in the event of a fire.

In November 2020, Legrand announced the acquisition of Universal Electric Corporation, a manufacturer of flexible electrical power distribution systems. This acquisition expanded Legrand's product portfolio in the wiring duct market.

In May 2020, Panduit announced the launch of its new HD Flex 2.0 wiring duct, which is designed to provide greater flexibility and easier installation for high-density wiring applications.

In January 2019, Schneider Electric announced the acquisition of ASCO Power Technologies, a leading provider of power management solutions for critical applications. This acquisition strengthened Schneider Electric's position in the wiring duct market.

Types Covered:
• Slotted Wire Duct
• Solid-wall Wire Duct
• Flexible Wire Duct
• Other Types

Products Covered:
• Flexible Cable Duct
• Rigid Cable Duct

Materials Covered:
• Concrete Cable Duct
• Plastic Cable Duct
• Metal Cable Duct

Applications Covered:
• Commercial
• Industrial
• Other Applications

End Users Covered:
• IT & Telecom
• Construction
• Energy & Utility
• Manufacturing
• 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