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Dublin, Sept. 02, 2022 (GLOBE NEWSWIRE) -- The "Electrical Conduit Systems Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030" report has been added to ResearchAndMarkets.com's offering. The most significant factor fueling the market growth is rising construction industry worldwide. The market is majorly supported by the residential and industrial sectors. Additionally, due to various competitive advantages over traditional wiring methods, conduit systems are increasingly being adopted for wiring installation.
Nevertheless, high costs (especially metallic conduit systems) and availability fo substitutes such as cable trays, raceways and cable ladders is are major factors hindering the market growth. The electrical conduit systems market is expected to expand with a CAGR of 10.1% during the forecast period from 2022 to 2030. As of 2021, the rigid conduit systems segment is dominant in the global market contributing to over two third of the total market revenue. Rigid conduit systems are the oldest types of conduit systems and hence are prominent in most of the electrical installation applications.
These conduit systems offer excellent physical protection and can be fabricated using both metallic and non-metallic materials. Rigid conduit systems are largely used in residential and commercial construction applications. Since these end-use industry segments contribute substantial revenue share to the market, the rigid conduit systems segment is expected to retain its dominant position in the market throughout the forecast period. The flexible conduit systems segment is however, expected to register the highest growth in the market. Flexible conduit systems are manufactured using non-metallic materials such as HDPE, PVC, nylon and PP. Amongst these, PVC and HDPE account for the largest share, in terms of revenue and adoption, in the global market.
These conduit systems are majorly used in applications wherein frequent wiring alteration may be required. Flexible conduit systems offer easy installation and can be re-positioned as per the requirement. Thus, these conduit systems find application across almost all of the end-use industry segments. The segment is estimated to expand with a CAGR of 11.6% from 2022 to 2030. As of 2021, the global electrical conduit systems market is dominated by the residential construction segment. The segment accounted for a market share, in terms of revenue, of over one fourth of the overall market in 2021. PVC conduit systems are the most popular types of conduit systems used in the residential segment.
Due to ever-increasing population worldwide, the residential construction is expected to witness steady growth in the coming years. Thus, the segment is estimated to retain its dominant segment throughout the forecast period. The residential segment is followed, in terms of market share, by the industrial and public infrastructure segments. The industrial manufacturing segment is estimated to witness the highest growth in the coming years. Material Segmentation Analysis
The metallic conduit systems segment dominated the global electrical conduit systems market in 2021. The segmented contributed more than fifty percent of the total revenue. The metallic conduit systems segment comprises various materials such as galvanized steel, stainless steel and aluminum among others.
Common types of metallic conduit systems include rigid metallic conduit systems (RMC), electrical metallic tubing (EMT), intermediate metallic conduit (IMC), PVC-coated metallic conduit systems and flexible metallic conduit systems. Galvanized steel and stainless steel are among the costliest materials used in conduit systems. These are largely used in the industrial manufacturing, oil - gas and energy - utilities segment to ensure optimum safety. Due to their high cost and superior protection advantages, the segment becomes highly profitable for conduit system manufacturers. The non-metallic conduit systems segment includes materials such as polyvinyl chloride (PVC), nylon, high density polyethylene (HDPE), polypropylene (PP) and others. These conduit systems offer fairly high physical protection and are resistant to most of the environmental hazards such as chemical reactions, humidity and corrosion.
These are among the cheapest and most convenient materials used in conduit systems. Due to their light weight, these conduit systems can be easily transported, handled and offer convenient installation. Hence, these conduit systems help reducing the overall installation cost. Due to these factors non-metallic conduit systems segment is expected to register the highest growth in the coming years.
Key Topics Covered: 1. Preface 2. Executive Summary 3. Electrical Conduit Systems Market: Business Outlook & Market Dynamics 4. Electrical Conduit Systems Market: By Product type, 2020-2030, USD (Million) 7. North America Electrical Conduit Systems Market, 2020-2030, USD (Million) 8. UK and European Union Electrical Conduit Systems Market, 2020-2030, USD (Million) 10. Latin America Electrical Conduit Systems Market, 2020-2030, USD (Million) 11. Middle East and Africa Electrical Conduit Systems Market, 2020-2030, USD (Million) 12. Company Profile Companies Mentioned
For more information about this report visit https://www.researchandmarkets.com/r/ttv53d
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