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NEW YORK, June 16, 2022 /PRNewswire/ — The expansion of the construction industry is notably driving the Cable Conduit Systems Market growth. The cable conduit market has registered a steady growth predominantly owing to the continued expansion of the construction industry, particularly in emerging countries. The construction industry in emerging markets is expected to experience a ten times higher growth rate with respect to the global market. The high demand for better infrastructure provides opportunities for cable conduit systems. The Indian construction market is projected to grow faster than China, largely driven by urbanization and infrastructural investments. The momentum in the construction industry is propelling the demand for cable conduit systems across industrial, commercial, and residential sectors.
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The market value is set to grow by USD 1.81 billion, progressing at a CAGR of 5.24% from 2020 to 2025, as per the latest report by Technavio.
Cable Conduit Systems Market: Challenge
The major challenge impeding the cable conduit systems market growth is the high installation costs. Cable conduit systems cost higher than all other wiring methods, which limits their growth prospect to an extent. The installation is complex and requires highly skilled labor when compared to other wiring systems, which increases the labor cost. Additionally, the volatility in the prices of raw materials such as plastic, steel, and aluminum is also pushing up the costs. Metal conduits are costly due to the high prices of steel and aluminum. The fluctuations in the raw material prices disrupt the pricing strategy of the cable conduit system manufacturers. With the intense competition in the market and little product differentiation, vendors are required to maintain competitive pricing. This is acting as a deterrent to market growth, owing to the price sensitivity of customers.
Cable Conduit Systems Market Scope |
|
Report Coverage |
Details |
Page number |
120 |
Base year |
2020 |
Forecast period |
2021-2025 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.24% |
Market growth 2021-2025 |
$ 1.81 billion |
Market structure |
Fragmented |
YoY growth (%) |
4.76 |
Regional analysis |
North America, APAC, Europe, MEA, South America, North America, APAC, Europe, MEA, and South America |
Performing market contribution |
North America at 32% |
Key consumer countries |
US, China, Germany, Japan, and UK |
Competitive landscape |
Leading companies, competitive strategies, consumer engagement scope |
Companies profiled |
ABB Ltd., Aliaxis Group SA, Atkore International Group Inc., Delphi Technologies Plc, Dura-Line, Eaton Corporation Plc, Hubbell Inc., igus GmbH, Legrand SA, and Schneider Electric SE |
Market Dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period, |
Customization preview |
If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
The Cable Conduit Systems Market Covers the Following Areas:
Cable Conduit Systems Market Sizing
Cable Conduit Systems Market Forecast
Cable Conduit Systems Market Analysis
Cable Conduit Systems Market: Segmentation Analysis & Forecast
The market is segmented by product (rigid non-metallic, rigid metallic, flexible non-metallic, and flexible metallic), end-user (commercial, manufacturing, IT and telecommunication, healthcare, and others). The cable conduit systems market share growth by the rigid non-metallic segment will be significant during the forecast period. The non-metallic conduits are waterproof, corrosion-resistant, non-conductive, and resistant to sunlight and can be used for outdoor applications. The high demand for rigid non-metallic conduits owing to low cost, ease of installation, and the wide variety of applications will drive the market growth through this segment in the coming years.
Cable Conduit Systems Market: Regional Analysis & Forecast
The market is segmented by Geography (North America, APAC, Europe, MEA, South America). 32% of the market’s growth will originate from North America during the forecast period. The US is the key market for cable conduit systems market in North America. Market growth in this region will be faster than the growth of the market in Europe and South America. The growth momentum is driven by technological advances and product innovations to provide advanced cable conduit systems that offer increased protection and efficiency. This will facilitate the cable conduit systems market growth in North America over the forecast period.
Cable Conduit Systems Market: Companies Mentioned
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Key Topics Covered:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by End-user
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Contact
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
SOURCE Technavio
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