Electrical Conduit Market: Global Industry Analysis and Forecast (2023-2029) Trends, Statistics, Dynamics, Segmentation

Electrical Conduit Market Definition:

An electric conduit is electrical tubing used for the protection and routing of electrical wiring. They can be made from a variety of materials, such as plastic, metal, fiber, and fired clay, all depending on the purpose it is being used for. It is generally installed by electricians at the electrical equipment’s installation site. It is a durable tube or enclosure where electrical wires are enclosed for protection from damage. They are also called wire ways or raceways. It is very essential that the electric wiring is exposed so that it protects the wires and individuals who may approach electric wires. The electrical conduit works by providing adequate protection for homes and building from electrocution.

 

Further, the Electrical Conduit market is segmented by Type, Material, End-Use, and geography. Based on type, the Electrical Conduit market is segmented under Rigid and Flexible. Based on the Material, the market is segmented under Metallic and Non- Metallic. By geography, the market covers the following regions: North America, Europe, Asia-Pacific, South America, and Middle East & Africa. For each segment, the market sizing and forecasts have been done based only (on USD Billion).

 

 

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Electrical Conduit Market Dynamics:

The major factor driving the growth of the Electric Conduit Market is the rising demand for higher bandwidth, which led to high infrastructure requirements. The types of electrical conduits used in diverse applications with various technical requirements are expected to drive the market during the forecast period. Electrical Conduit offers an aesthetic view of electrical wiring and is one of the safest wiring systems used for the protection and routing of electrical wiring. It is used as an external influence in the mechanical and electrical engineering industry for protecting cables, wires, and data links against heat, cold, tensile stress, and pressure stress. With the increase in demand for electricity, Rapid Urbanization and industrial development will boost the market growth during the forecast period.

 

The electrical concealed conduit wiring system is expensive as compared to surface conduit wiring because it requires significantly large amounts of material as compared to other types of wiring systems. The installation of concealed wiring is not easy it requires highly skilled labor, which is usually not required for installing cleat, casing, and capping. Once these electrical conduits are developed, then it is challenging to identify defects and repair those wiring and once the location of switches is fixed then it is difficult to change the position of switches. These are the major challenges faced by the electrical conduit market.

 

The increasing raw material prices are expected to restrain the growth of the market during the forecast period. The major materials used in the manufacturing of conduit system are Steel, Plastic, and Aluminium the prices of these material changes frequently and are unpredictable. The main cause of fluctuations in prices of these raw materials is volatility in the prices of energy and crude oil which are used in transporting and manufacturing this material. The increase in the cost of raw materials led the vendors to reduce their profit margin or increase the price of finished products which will have a negative effect on the growth of the market.

 

The energy demand is increasing with the growing world population and rapid urbanization which has increased the opportunities for the electrical conduit market owing to their extensive use in power transmission. Electricity has made the economy active all day in modern western society. The increase in demand for power generation as well as transmission and distribution of electrical material has led to an exponential growth of the electrical material market. The investment in the distribution sector by the government is expected to boost the market growth during the forecast period.

 

Electrical Conduit Market Segment Analysis:

By Type, Based on the type the market is bifurcated into Rigid and Flexible. The rigid segment has dominated the market with the highest market share in 2023 and will remain the same during the forecast period. The rigid metal conduit is a thick-heavy walled threaded tubing made of coated steel, galvanized steel, or aluminum. It provides structural support for electrical cables, and panels, and protects from outdoor damages.

 

 

By End-Use, Based on end-use the market is segmented into Building and Construction, Industrial Manufacturing, IT and Telecommunication, Oil and Gas, Energy and Utility, and Others. The building and construction segment dominated the market with a 55% share in 2023 and will remain the same during the forecast period. The major factor contributing to the growth of the segment is people are getting inclined towards luxury, aesthetics and design of their dream home. Electrical lighting system plays a major role in it. Earlier the cabling used to be provided on the surface of the wall and below slabs but now it is hidden under the plaster and this technique is called council wiring. To council the wiring, electrical conduits are installed before the finishing of the wall.

 

Electrical Conduit Market Regional Insights:

The Asia Pacific region dominated the market with a 38% share in 2023 and is expected to grow at a highest CAGR during the forecast period. Rapid technological innovation, government initiatives and Rising urban population are the major factor responsible for the growth of the market in the region. The demand for electrical conduit is increasing because of the growing building and construction industries thus creating a high demand and are attracting international companies to shift their production facilities in the region.

 

Electrical Conduit Market Key Players Insights:

The market is characterized by the existence of several well-known firms. These companies control a large portion of the market, have a wide product portfolio, and have a global presence. In addition, the market comprises small to mid-sized competitors that sell a limited variety of items, some of which are self-publishing organizations.

 

The market's major companies have a significant impact because most of them have extensive global networks through which they can reach their massive client bases. To drive revenue growth and strengthen their positions in the global market, key players in the market, particularly in North America and Europe, are focusing on strategic initiatives such as acquisitions, new collection launches, and partnerships.

 

The objective of the report is to present a comprehensive analysis of the Global Electrical Conduit market to the stakeholders in the industry. The report provides trends that are most dominant in the Global Electrical Conduit market and how these trends will influence new business investments and market development throughout the forecast period. The report also aids in the comprehension of the Global Electrical Conduit Market dynamics and competitive structure of the market by analyzing market leaders, market followers, and regional players.

 

The qualitative and quantitative data provided in the Global Electrical Conduit market report is to help understand which market segments, and regions are expected to grow at higher rates, factors affecting the market, and key opportunity areas, which will drive the industry and market growth through the forecast period. The report also includes the competitive landscape of key players in the industry along with their recent developments in the Global Electrical Conduit market. The report studies factors such as company size, market share, market growth, revenue, production volume, and profits of the key players in the Global Electrical Conduit market.

 

 

The report provides Porter's Five Force Model, which helps in designing the business strategies in the market. The report helps in identifying how many rivals exist, who they are, and how their product quality is in the Global Electrical Conduit market. The report also analyses if the Global Electrical Conduit market is easy for a new player to gain a foothold in the market, do they enter or exit the market regularly, if the market is dominated by a few players, etc.

 

The report also includes a PESTEL Analysis, which aids in the development of company strategies. Political variables help in figuring out how much a government can influence the Global Electrical Conduit market. Economic variables aid in the analysis of economic performance drivers that have an impact on the Global Electrical Conduit market. Understanding the impact of the surrounding environment and the influence of environmental concerns on the Global Electrical Conduit market is aided by legal factor.

 

Electrical Conduit Market Scope:

Electrical Conduit Market
Market Size in 2023	USD 6.94 Bn.
Market Size in 2030	USD 11.08 Bn.
CAGR (2024-2030)	6.9%
Historic Data	2018-2022
Base Year	2023
Forecast Period	2024-2030
Segment Scope	By Type Rigid Flexible
	By Material       Metallic Non-Metallic
	By End-Use Building and Construction Industrial Manufacturing IT and Telecommunication Oil and Gas Energy and Utility Others
Regional Scope	North America- United States, Canada, and Mexico Europe – UK, France, Germany, Italy, Spain, Sweden, Austria, and Rest of Europe Asia Pacific – China, India, Japan, South Korea, Australia, ASEAN, Rest of APAC Middle East and Africa - South Africa, GCC, Egypt, Nigeria, Rest of the Middle East and Africa South America – Brazil, Argentina, Rest of South America

 

Electrical Conduit Market Key Players: 

• Aliaxis
• Atkore International Holdings
• Mexichem
• JM Eagle
• Cantex
• Wienerberger
• Sekisui Chemical
• D.P.Jindal
• Zekelman Industries
• National Pipe And Plastics
• Lesso
• Nan Ya Plastics
• Premier Conduit
• International Metal Hose
• OPW
• Sanco Industries
• Pipelife International
• ASTRAL POLYTECHNIK