Cable Conduit Market - Forecasts from 2024 to 2029

The cable conduit market is evaluated at US$6.99 billion for the year 2022 and is projected to grow at a CAGR of 5.47% to reach a market size of US$10.152 billion by the year 2029.

Cable conduits are protective tubes or channels used to contain and safeguard electrical wires and cables. They are sometimes referred to as electrical conduits or wiring conduits. In electrical installations spanning several sectors and applications, these conduits provide several crucial functions. They offer electrical lines and cables mechanical protection, preventing them from being physically harmed by things like collision, abrasion, and crushing which may happen in places with a lot of traffic or severe conditions. Cable conduits also provide defense against dust, chemicals, moisture, and other environmental impurities, preserving the longevity and integrity of the electrical wire system. Conduits also make it easier to build, maintain, and troubleshoot electrical systems by helping to neatly arrange and route cables.

Depending on the needs of the application, cable conduits can be made of a variety of materials, such as metal, plastic, or fiberglass, each of which has unique benefits including durability, flexibility, and resistance to corrosion. In general, cable conduits are essential to maintaining the dependability, security, and effectiveness of electrical installations in infrastructure, business, and residential projects.

MARKET TRENDS:

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 cable conduit 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.

MARKET DRIVERS:

Rising construction activities and projects are anticipated to drive the market’s growth.

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 for 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 for 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 inspection 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 cable conduit market is anticipated to develop as a result of this factor.

Advancements in technology and innovation might impact the cable conduit market growth.

Innovation and technological advancements have a major impact on the growth of the cable conduit industry. The design, materials, and functionality of cable conduits are continually improved by these developments, improving their performance, robustness, and flexibility to meet changing industrial demands.

Moreover, conduits with intricate geometries, unique forms, and exact tolerances may be produced because of technical developments in manufacturing procedures including extrusion, injection molding, and composite fabrication techniques. The ability to create conduits that are specifically matched to installation needs due to this design flexibility maximizes both installation efficiency and space utilization. Additionally, the development of smart conduit systems with sensors, communication modules, and monitoring capabilities is being fueled by advancements in connection and integration.

The Asia Pacific cable conduit market is anticipated to grow substantially.

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, and produce more than 1,00,000 MW of solar power in 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 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.

Key Developments:

• In July 2023, the CableTightTM System was introduced by Franklin Electric as a waterproof electrical conduit solution that is strong enough to endure challenging subterranean settings and flexible enough to enable installers to complete the work efficiently and accurately the first time. The method makes use of press-fit connections on continuous sections of HDPE conduit to enable quick, precise, and leak-proof conduit installation.
• In February 2023, the renowned producer of plastic film barriers and coverings, Viaflex, added a high-quality resin conduit for fiber optic cable management, routing, and protection to its range of products. To satisfy the demands of a customer's project, these conduit items are available in a range of sizes, colors, textures, and thicknesses.

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
• United Kingdom
• Germany
• France
• Spain
• Others 
• Middle East and Africa
• Saudi Arabia
• UAE
• Israel
• Others 
• Asia Pacific
• China
• Japan
• India
• South Korea
• Taiwan
• Thailand
• Indonesia
• Others