Cable Conduit Systems Market
Cable Conduit Systems Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2015 - 2022
Press Release :
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 Conduit Systems Market to Gain Impetus from Increasing Demand for Advanced Composites such as Fiberglass
The rising urbanization across BRICS countries and expanding infrastructural interest in MENA have set out worthwhile open doors for the worldwide link course frameworks market. Additionally, the development of population and urbanization saw across non-industrial nations are convincing governments to zero in on different private and business projects. These improvements supported the development business vigorous development, yet additionally fuelled the arrangement of cutting edge link channel frameworks across the world.
Link channels are wiring frameworks that utilization empty tubing to encase electrical force wiring and links. These conductors are made with the assistance of PVC, aluminum, steel, and fiberglass. Link conductors can be utilized for underground and overhead wiring frameworks. A portion of the regular kinds of link conductors are unbending metal courses, moderate metal channels, electrical metal conductors, PVC conductors, adaptable metallic courses, and adaptable non-metallic channels. Link channels offer better assurance and toughness benefits over other wiring techniques like packaging and covering and secure wiring, in this way filling the interest for these wiring frameworks.
Better wellbeing and security involves worry during establishment of wiring frameworks. The achievement of link the executives business relies on developing items as indicated by establishment and cost comfort. An electrical channel is invaluable since it brings about less complex wiring and is more secure, allowing simpler and successive changes in the wiring framework, giving insurance even in soggy and perilous areas. Additionally, it is a viable method to shield the wiring framework from natural and different conditions like synthetic fumes, electromagnetic obstruction, dampness and others.
In spite of seeing positive development, variances in costs of crude materials like plastic, steel, and aluminum limit the market's extension to a degree. The market's development is additionally undermined by the extraordinary contention winning among the main market players. By and by, the utilization of advanced or cutting edge composites like fiberglass in the creation of link channel frameworks is required to bring down their general assembling cost, along these lines boosting the deals of link course frameworks in the approaching years.
Global Cable Conduit Systems Market: Overview
One of the essential aspect of infrastructure development is the electrification of the area, not only for the current condition but also considering the future integrations. Cable conduit assist in offering medium voltage and are produced using innovative technologies that helps it refrain from corrosion and last for long without needing regular maintenance. Owing to rapid urbanization across various emerging economies, the global cable conduit systems market is projected for an incrementing demand at the CAGR of 11.0% during the forecast period of 2015 to 2022, when the opportunities will translate into a revenue of US$7.4 bn.
This report on the global cable conduit systems market is a comprehensive study on how the demand has evolved in the recent past in different countries and regions across the world and how it will flourish during the aforementioned forecast period. The report begins by presenting an elaborated overview of the market for cable conduit in executive summary, wherein basic global data has been provided. Following that is a chapter on market dynamics wherein factors such as drivers, barriers, trends, opportunities, and challenges have been actively analyzed and their implications have been anticipated by the analysts. Moving forward, the report segments the global cable conduit systems market in terms of product type and end use industry. For each of the segments, the report provides revenue and forecasts for the duration of 2013 to 2022.
The analysts of the report have understood the importance of providing country-wide and regional demands of cable conduit systems as most of its targeted audiences are operating within a limited geographical area. To complete a thorough study, the report contains a dedicated chapter on competitive landscape of the global cable conduit systems market, profiling some of the key vendors for their product portfolio, regional presence, and recent strategic decisions.
Global Cable Conduit Systems Market: Trends and Opportunities
Significant growth of the building and construction industry in BRICS nations, major infrastructure development projects in MENA and recovering construction sector in developed regions of North America and Europe, superior advantages of cable conduit wiring over other wiring techniques, and wide availability are some of the key factors augmenting the demand in the global cable conduit systems market. In addition to that, increasing energy demands across the world, renewal and upgrading of existing networks and accelerating bandwidth requirements are also expected to reflect positively on the market. On the other hand, high cost of installation and alteration, volatility in the prices of raw materials, and high fragmentation of the market landscape various regions are a few barriers obstructing the prosperity of the global cable conduit systems market. Development of advanced materials is expected to open new opportunities.
Global Cable Conduit Systems Market: Segmentations
Based on products, the market has been segmented into flexible cable conduit systems and rigid cable conduit systems, whereas on the basis of end-use industry, the analysts have evaluated the potential of demand that can be expected from the industries of energy and utility, IT and telecommunication, transportation, industrial manufacturing, residential construction, healthcare, commercial construction, and other industries. Geographically, the report gauges the potential of demand that can expected out of the region of North America, Europe, Asia Pacific, the Middle East and Africa (MEA), and South America (SAM).
Global Cable Conduit Systems Market: Competitive Landscape
Legrand S.A., Atkore International, Inc., Schneider Electric SE, and Thomas & Betts Corporation are some of the key companies currently ahead of the curve in the global cable conduit systems market.