Categories: Market Research

Electrical Conduit Market Forecast 2024-2033: Projected CAGR, Key Drivers, And Trends

Overview and Scope
The electrical conduit refers to tubes in which electrical wires are housed for a variety of building or structural applications. It protects and routes electrical wiring in a building or structure. The use of an electrical conduit protects wires from damage from the outside environment for a long time and gives them a proper passage.

Sizing and Forecast
The electrical conduit market size has grown strongly in recent years. It will grow from $6.83 billion in 2023 to $7.37 billion in 2024 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to increased building and construction activity, electrical wiring and cable installations, industrial and commercial development, increased demand for safety and protection of electrical wiring, and rapid urbanization and infrastructure development
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The electrical conduit market size is expected to see strong growth in the next few years. It will grow to $9.83 billion in 2028 at a compound annual growth rate (CAGR) of 7.5%. The growth in the forecast period can be attributed to infrastructure upgrades and maintenance, expansion of renewable energy projects, increased demand for fiber optic conduits, smart grid and electrical infrastructure modernization, global market expansion and emerging market growth, and data center and it infrastructure expansion. Major trends in the forecast period include smart building integration, sustainability and eco-friendly conduits, technological advancements in conduit materials, advanced conduit material innovations, and introduction of flexible and rigid conduit solutions.

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Segmentation & Regional Insights
The electrical conduit market covered in this report is segmented –

1) By Type: Rigid, Flexible
2) By Material: Metallic, Non Metallic
3) By End Use Industry: Building And Construction, Industrial Manufacturing, IT And Telecom, Oil And gas, Energy And Utility, Other End-Users

Asia-Pacific was the largest region in the electrical conduit market in 2023. Asia-Pacific is expected to be the fastest growing market in the electric conduit market during the forecast period. The regions covered in the electrical conduit market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth
The rise in demand for electricity or power generation is expected to drive the electrical conduit market. The rise in demand for electricity generation is caused by the rapid pace of industrialization and urbanization, which creates the need for electrical conduits. According to the new IEA (International Energy Agency) report in 2021, there is an expected rise of 5% in electricity demand. In another instance, according to Canada’s Upstream Oil & Natural Gas Industry, with the global population expected to increase by about two billion over the next two decades, it is estimated that by 2040, electricity generation is expected to increase by 49%. Therefore, the rise in demand for electric power generation is expected to drive the growth of the electrical conduit market.

Key Industry Players
Major companies operating in the electrical conduit market include ABB Ltd., Ali Axis Group, Atkore International Group Inc., Cantex Inc., Champion Fiberglass Inc., China Lesso Group Holdings Ltd., Dura-Line Corporation, HellermannTyton Group PLC., Hubbell Incorporated, Legrand, Alary & Joquel Company., Nan Ya Plastics Corporation, OPW Corporation, Robroy Industries Inc., Schneider Electric SE, Sekisui Chemical Co., Thomas and Betts Corporation, Wienerberger AG, Zekelman Industries Inc., AFC Cable Systems, AKG Group GmbH, Anamet Electrical Inc., Astral Poly Technik Ltd., Calpipe Industries Incorporated, D.P. Jindal Group, Eaton Corporation PLC., Electri-Flex Company, igus inc., International Metal Hose Company, JM Eagle Inc., Calpipe Industries Inc., Conduit Pipe Products Company, Eaton Corporation, Flex-It Co. Inc., Graybar Electric Company Inc., HellermannTyton Ltd., IPEX USA LLC, Kaf-Tech Inc., National Pipe & Plastics Inc., Ocal Ltd.

The electrical conduit market report table of contents includes:

1. Executive Summary

2. Electrical Conduit Market Characteristics

3. Electrical Conduit Market Trends And Strategies

4. Electrical Conduit Market – Macro Economic Scenario

5. Global Electrical Conduit Market Size and Growth
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31. Global Electrical Conduit Market Competitive Benchmarking

32. Global Electrical Conduit Market Competitive Dashboard

33. Key Mergers And Acquisitions In The Electrical Conduit Market

34. Electrical Conduit Market Future Outlook and Potential Analysis

35. Appendix

Top Major Players: