Global Cable Conduit Systems Market: Key Trends
The rising urbanization across BRICS nations and increasing infrastructural investment in MENA have created lucrative opportunities for the global cable conduit systems market. As per Transparency Market Research (TMR), population growth and urbanization witnessed across developing countries are compelling governments to focus on various residential and commercial projects. These developments not only aided the construction industry’s robust growth, but also fuelled the deployment of advanced cable conduit systems across the world.
Despite witnessing positive growth, fluctuations in prices of raw materials such as plastic, steel, and aluminum restrict the market’s expansion to an extent. The market’s growth is also compromised by the intense rivalry prevailing among the leading market players. Nevertheless, the use of advanced composites such as fiberglass in the production of cable conduit systems is expected to lower their overall manufacturing cost, subsequently boosting the sales of cable conduit systems in the forthcoming years.
The global cable conduit systems market was worth US$3.2 bn in 2014, says TMR. Exhibiting a CAGR of 11%, the market is expected to reach US$7.4 bn by the end of 2022.
North America Contributes Highest Revenue to Cable Conduit Systems Market
Regionally, North America held the largest share of 35.6% in the global cable conduit market in 2014. The U.S. currently dominates the cable conduit systems market in North America and is likely to maintain its lead through the forecast period. The country has strong regulations mandating the use of conduit systems installations, particularly in the industrial manufacturing sector. This significantly fuels the demand for cable conduit systems from North America. The residential and construction projects are among the most important contributors to the North America cable conduit market.
The rising demand from the oil and gas, food and beverages, and metal and mining industries will also boost sales of cable conduit systems in the region. Due to the prevalence of such favorable factors, TMR expects North America to continue dominating the global cable conduit systems market in the long term. As per TMR, the cable conduit systems market in North America stood at US$1.14 bn in 2014. Rising at a CAGR of 14.1% from 2015 to 2022, the market is expected to reach US$2.15 bn by the end of 2022.
Besides this, the Europe market for cable conduit systems is presently marred by the challenge of producing high quality products. However, rapid expansion of the automotive sector and industrial growth are expected to fuel demand for cable conduit system from Europe in the near future. According to TMR, Asia Pacific is likely to exhibit the highest CAGR as a regional market for cable conduit systems during the forecast period. The robust infrastructural development and urbanization will boost demand from the region.
Rising Applications across Diverse Industry to Fuel Demand for Cable Conduit Systems
Based on end-use industry, the global cable conduit systems market is segmented into IT and telecommunications, energy and utility, transportation, healthcare, industrial manufacturing, commercial construction, residential construction, and other industries. Of these, the industrial manufacturing segment emerged dominant in 2014, with a share of 28.7% in the overall revenue. It stood at US$919.4 mn in 2014, and is expected to reach US$2.02 bn by the end of 2022. The industrial manufacturing segment is expected to exhibit a CAGR of 10.2% from 2015 to 2022.
Owing to the growth reported by the oil and gas, metal and mining, and food and beverages sectors, the industrial manufacturing segment is expected to remain the market leader through the course of the forecast period. As per TMR, industrial manufacturing and healthcare are among the end-use sectors exhibiting high deployment of high-performance cable conduit systems. Furthermore, TMR expects the demand for cable conduits systems to rapidly increase in the residential construction, commercial construction, and transportation sectors.
Atkore International, Inc., Legrand S.A., Thomas & Betts Corporation, and Schneider Electric SE, are among the leading companies operating in the global cable conduit systems market.
Cable management refers to the installation of cable management systems to secure cables for electrical services in a building, vehicle, plant, or industry. Cable management finds applications across varied end-use industries such as energy & utility, IT & telecom, transportation, healthcare, residential & commercial construction, and industrial manufacturing among others. Cable management makes maintenance/changes to the cable system easier as it provides support during installation. It offers end-users with benefits such as cost saving, labor saving, enhanced safety, increased adaptability, and low maintenance.
This research study, entitled “Cable Conduit Systems Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2015 – 2022,” provides strategic analysis of the global cable conduit systems market, along with the market growth (size in US$ Mn*) forecast for the period from 2015 to 2022. The report includes an in-depth analysis of the market drivers, restraints, and industry trends. It also highlights the significant growth opportunities for cable conduit systems in the next few years.
The research report provides a comprehensive assessment of stakeholder strategies, and the imperatives for succeeding in the cable conduit systems market. The report includes competitive analysis of various market segments based on products, end-user industries, and in-depth cross-sectional scrutiny across different geography segments of the cable conduit systems market. In order to aid in strategic decision-making, the report also includes competitive profiling of the leading cable conduit system manufacturers in the industry, their market positioning, recent developments, and the winning strategies adopted by them. The research report also provides the impact analysis of raw material prices on cable conduit system manufacturers. The report segregates the cable conduit systems market based on different geographies into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
The report segments the global cable conduit systems market based on products, which include rigid conduit systems and flexible conduit systems. The report also segments the cable conduit systems market by end-use into following industries:
- Energy & Utility
- Industrial Manufacturing
- IT & Telecommunication
- Residential Construction
- Commercial Construction (excluding Healthcare)
- Other End-user Industries
For detailed understanding of the cable conduit systems market, all these segments have also been estimated in terms of revenue (US$ Mn) for the geographies and countries mentioned below.
The market research study analyzes the cable conduit systems market worldwide, and provides revenue estimates in terms of US$ Mn for the years 2012, 2013, and 2014, along with the market forecast for the period from 2015 to 2022. Market forecasts have been analyzed considering the impact of various economic, political, social, legal, and technological factors influencing market growth. The detailed value chain analysis provide insights into the prevalent competitive scenario in the cable conduit systems market. Furthermore, the study comprises a market attractiveness analysis, where the conduit systems are benchmarked based on their market scope, growth rate and general attractiveness. The report also profiles a number of key manufacturers of cable conduit systems. Some of the major rigid cable conduit system manufacturers include Atkore International, Inc., Thomas & Betts Corporation, Legrand S.A., and Schneider Electric SE, among others.
Global Cable Conduit Systems Market, By Products
- Rigid Cable Conduit Systems
- Flexible Cable Conduit Systems
Global Cable Conduit Systems Market, By End-user Industry
- Energy & Utility
- Industrial Manufacturing
- IT & Telecom
- Residential Construction
- Commercial Construction (excludes Healthcare)
- Others Industries
Global Cable Conduit Systems Market, By Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific (APAC)
- Australasia (Australia, NZ, & Guinea)
- South Asia (India, Pakistan, Bangladesh, & Sri Lanka)
- Rest of APAC
- Middle East and Africa (MEA)
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
- South America (SAM)
- Rest of SAM