Cable Conduit Market - Forecasts from 2022 to 2027

The cable conduit market is projected to grow at a CAGR of 5.09% during the forecast period to reach US$8.803 billion by 2027, from US$6.217 billion in 2020.

A conduit is referred to as a tube or duct for enclosing wires or cables. The conduit ensures the safety and long life of the cable system. In a conduit wiring system, the cable is enclosed in metal or some plastic tubes. Although the insulation on the cable is rated for the required voltage, it offers no mechanical protection. Simply because the cables are contained in a tube, the circuit can be readily rewired, changed, or expanded as needed. Furthermore, safety and security are considered as one of the priority concerns during the installation of wiring systems. There is an increasing demand for safe and secure wiring systems in industrial and commercial sectors which are considered the key driver for the growth of the market. Rapid urbanization in developing economies leads to an increase in construction projects which further increases the demand for alterable wiring systems thus boosting the sales of cable conductive in the forecast period. Fluctuation in the prices of raw materials and competition among the big players is considered the restraining factor for the growth of the market. The cable conduit market is divided into product type, industry vertical, and geography.

Rising construction activities and projects are fueling the demand of cable conductivity in the construction sector.

The growing construction industry and construction projects are expected to expand as a result of the rapid urbanization of developing economies. This contributes to an even greater demand for flexible wiring solutions. For instance, in April 2022, the Maharashtra Housing and Area Development Authority (MHADA) announced the approval of MHADA's budget of INR 10,764.99 crore in the year 2022/23. The authority proposed to build 4,623 flats in Mumbai, and overall, 15,781 flats in the state of Maharashtra in India. Consequently, the rising construction activities are fueling the demand of cable conductivity in the construction sector. Furthermore, similar construction projects across the globe are further supporting the growth of the global construction sector, which is consequently boosting the growth of the cable conduit sector during the anticipated timeframe. Additionally, the examination of the wire and cable business shows an increase in the production of renewable energy. This is anticipated to be one of the key drivers of the electric cable and wire market's expansion. The market for cable conduit is anticipated to develop as a result of this factor. However, the primary challenges impeding the expansion of the worldwide cable conduit system market are the shifting costs of raw materials like steel, plastic, and aluminum.

The cable conduit market is expected to be dominated by the Asia Pacific region due to increasing infrastructural activities in countries like India.

Primarily, India accounts for a considerable increase in the of growth the construction industry because rural areas are being transformed into urban areas. Additionally, the expanding electrification and power supply projects in these areas offer a wealth of possibilities for the expansion of the market for electrical conduit pipes. Moreover, The Jawaharlal Nehru National Solar Mission initiated back in 2010 by the Government of India and State governments to promote solar power in the country, aims to produce more than 1,00,000 MW of solar power by the end of 2022 and is also anticipated to increase demand for electrical wires and cables in India. These initiatives include excise duty exemption for Ferro-silicon-magnesium and pig iron used to manufacture components for wind-operated electric power generators. The demand for electrical conduit pipes is anticipated to rise throughout the projected period as a result of this industry's ongoing expansion as well as the rising demand for renewable energy sources.

Product offering

• Schneider Electric offers OptiLine 50- Flexible conduit for cable feeding. It is a state-of-the-art solution, which is easy to install and use, totally integrated and flexible yet adjustable conduit. The OptiLine range includes all the parts the consumer might need and saves the time and effort of consuming improvisation. Further, its smart features like quick couplings, tool-less click-in-technology, and pre-wired products allow quick and easy installation.
• Champion Fiberglass offers Champion Haz Duct XW Type Conduit, which is a complete non-metallic conduit solution that can easily manage the demands of corrosive and hazardous industrial environments. It offers a complete non-metallic solution that is flame resistant with low-smoke characteristics, which offers solid performance in even the most volatile surroundings.

COVID-19 Impact

During the pandemic, the electronics and semiconductor industries witnessed setbacks as many business units across various countries were closed, owing to pandemic restrictions levied by the governments of respective countries. Furthermore, the pandemic affected the production facilities, manufacturing units, and operations in the electronics sector. Moreover, the outbreak from China's Wuhan province severely disrupted China's trade of electronics segment during this period. Hence, the cable conduit market's growth was affected during the pandemic.

Market Segmentation:

• By Product Type

Rigid Cable Conduit

Flexible Cable Conduit

• By Industry Vertical

Construction

IT and Telecommunication

Energy

Manufacturing

Others

• By Geography

North America

• USA
• Canada
• Mexico

South America

• Brazil
• Argentina
• Others

Europe

• Germany
• France
• United Kingdom
• Spain
• Others

Middle East and Africa

• Saudi Arabia
• UAE
• Others

Asia Pacific

• China
• Japan
• South Korea
• India
• Others