High demand for electrical conduit due to their beneficial properties

An electrical conduit is an electrical piping system used for the protection and routing of electrical wiring. It is used for protecting cables, wires, and data links against heat, cold, tensile stress, pressure stress, and other external influences in the mechanical and electrical engineering industry. Many different brands/manufacturers offer various types of conduits for diverse applications with various technical requirements.

These electrical conduit systems have been one of the most reliable & popular wiring systems in the market and are primarily used for safety purposes. Electrical conduit is one of the safest wiring systems and offers an aesthetic view of electrical wiring. These conduit systems are experiencing a boost in demand as it protects the enclosed conductors from impact, moisture, and chemical vapors. Furthermore, it offers durability and can be used for many years. In addition to this, an electrical conduit prevents accidental damage to the insulation. When installed with proper sealing fittings, a conduit will not permit the flow of flammable gases and vapors, which protects from fire and explosion hazards in areas handling volatile substances. These properties of electrical conduit make it a preferred wiring system.

The global electrical conduit market size is projected to reach USD 9.1 billion by 2026, at a CAGR of 6.9% from 2021 to 2026. The global electrical conduit market is estimated to be USD 6.5 billion in 2021 and is projected to reach USD 9.1 billion by 2026, at a CAGR of 6.9% from 2021 to 2026. The driving factors for the electrical conduit market are the rapid pace of industrialization and urbanization and the rise in demand for electricity or power generation across the globe. The growth of the electrical conduit market is supported by increasing awareness regarding public safety and the implementation of safety regulations by governments.

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Flexible electrical conduit is expected to be the fastest-growing type in the electrical conduit market

The flexible segment is projected to be the fastest-growing segment in the electrical conduit market. This electrical conduit is lightweight, typically less expensive than other options, and versatile & easy to install. Flexible electrical conduit is much easier to work with than rigid metal or plastic conduit. This is because there is no bending involved. However, flexible electrical conduit will not offer quite as much protection as rigid electrical conduit. It is flexible and can snake through walls and other structures. This electrical conduit is used owing to its advantages such as lightweight conduit, typically less expensive than other options, and versatile & easy to install.

APAC is the largest market for electrical conduit.

APAC led the global electrical conduit market, accounting for a share of 37.8% in 2020. APAC is segmented into China, Japan, India, South Korea, and the Rest of APAC. Factors such as ready availability of raw materials and manpower, along with sophisticated technologies and innovations, have driven economic growth in the APAC region. According to the World Bank, the two economic giants of the APAC region, China and Japan, were the world’s second and third-largest economies as of 2020. APAC was the largest market for electrical conduit, in terms of value, in 2020. Emerging economies in APAC are expected to have significant demand for electrical conduit due to the growth of the construction industry led by the rapid economic development and government initiatives in infrastructural developments. In addition, the rising population in these countries represents a strong customer base. APAC is expected to be the fastest-growing market for electrical conduit globally during the forecast period. Significant consumer base, rising urban population, low labor costs, and easy availability of raw materials are attracting international companies to shift their production facilities to the region, thus creating a high demand for electrical conduits in these industries. The increase in demand for electrical conduit can be largely attributed to the growing infrastructure and building & construction industries. The demand for electrical conduits is rising rapidly in the region owing to the high demand from the infrastructural sector.

The electrical conduit market comprises major solution providers, Atkore International Group Inc. (US), Hubbell Incorporated (US), Legrand S.A. (France), Schneider Electric SE (France), and Sekisui Chemical Co., Ltd. (Japan) among others.

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Electrical Conduit Market Opportunity: Increasing demand for electricity/power generation

The energy industry offers significant growth opportunities to the electrical conduit market, owing to their extensive use in power transmission. Rapidly growing world population along with economic development and urbanization has resulted in significant increase in energy demand in the past years. The rise in global energy generation has not been able to keep its pace with rising electricity demand for several years. In 2018, the global electricity demand has increased by 4% year-on-year, which is growing about twice as fast as the overall energy generation capability.

According to the International Energy Agency, “The global electricity demand in 2021 has increased by 4.5% or over 1 000 TWh. Almost 80% of the projected increase in demand in 2021 is in emerging market and developing economies, with the People’s Republic China (China) alone accounting for half of the global growth.” According to the US Energy Information Administration, the global energy demand is likely to increase to 736 quadrillions Btu by 2040. A major part of the demand for energy would come from the non-OECD countries, particularly India and China, and would account for more than half of the global energy consumption during this period. The demand is likely to be fulfilled by new generation capacity additions, which would require new transmission and distribution infrastructure, thus creating opportunities for the electrical conduit market.

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The global electrical conduit market size is projected to reach USD 9.1 billion by 2026, at a CAGR of 6.9% from 2021 to 2026. The driving factors for the electrical conduit market is rapid pace of industrialization and urbanization, and rise in demand for electricity or power generation across the globe. The growth of the electrical conduit market is supported by increasing awareness regarding public safety and the implementation of safety regulations by governments.

The flexible segment is projected to be the fastest-growing segment in the electrical conduit market. This electrical conduit is lightweight, typically less expensive than other options, and versatile & easy to install. Flexible electrical conduit is much easier to work with than rigid metal or plastic conduit. This is because there is no bending involved. However, flexible electrical conduit will not offer quite as much protection as rigid electrical conduit. It is flexible and can snake through walls and other structures. This electrical conduit is used owing to its advantages such as lightweight conduit, typically less expensive than other options, and versatile & easy to install.

APAC led the global electrical conduit market, accounting for a share of 37.8% in 2020. APAC is segmented into China, Japan, India, South Korea, and the Rest of APAC. Factors such as ready availability of raw materials and manpower, along with sophisticated technologies and innovations, have driven economic growth in the APAC region. Emerging economies in APAC are expected to have significant demand for electrical conduit due to the growth of the construction industry led by the rapid economic development and government initiatives in infrastructural developments. In addition, the rising population in these countries represents a strong customer base.

The electrical conduit market comprises major solution providers, Atkore International Group Inc. (US), Hubbell Incorporated (US), Legrand S.A. (France), Schneider Electric SE (France), and Sekisui Chemical Co., Ltd. (Japan) among others.

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Atkore International Group Inc. (US) and Hubbell Incorporated (US) are the Key Players in the Electrical Conduit Market

 

The global electrical conduit market is estimated to be USD 6.5 billion in 2021 and is projected to reach USD 9.1 billion by 2026, at a CAGR of 6.9% from 2021 to 2026. The driving factors for the electrical conduit market is rapid pace of industrialization and urbanization, and rise in demand for electricity or power generation across the globe. The growth of the electrical conduit market is supported by increasing awareness regarding public safety and the implementation of safety regulations by governments.

Atkore International Group Inc. (US), Hubbell Incorporated (US), Legrand S.A. (France), Schneider Electric SE (France), and Sekisui Chemical Co., Ltd. (Japan) among others, are the leading electrical conduit manufacturers, globally. These key players have focused on market consolidation by adopting both organic and inorganic growth strategies such as mergers & acquisitions. These companies adopted acquisitions as the key growth strategy between 2019 and 2021.

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Atkore International Group Inc. is one of the largest player in the electrical conduit market. It engages in the manufacture of electrical raceway products, primarily for the non-residential construction and renovation markets. It operates through the Electrical Raceway and Mechanical Products and Solutions (MP&S) segments. Some of its products include electrical conduit and fittings, armored cable and fittings, cable trays, mounting systems and fittings, metal framing, and in-line galvanized mechanical tube. These are critical components of electrical infrastructure for new construction as well as for operational systems under maintenance. The company operates through 37 manufacturing facilities and 28 distribution facilities. Major subsidiaries of the company include Allied Tube & Conduit (Italy), Calpipe Industries (Spain) and Unistrut Limited (UK).

Hubbell Incorporated is the second-largest player of the global electrical conduit market. The company is a manufacturer of electrical, lighting, and power components worldwide. It operates through two segments, namely Electrical Solutions and Utility Solutions. The company offers electrical conduit products and solutions under its electrical segment. The electrical segment manufactures wiring and electrical products, lighting fixtures and controls for indoor and outdoor applications, as well as lighting and communications products. The company offers its products and solutions to various industries such as non-residential & residential construction, industrial, and energy-related (oil and gas) markets.

The company has a presence in Singapore, China, India, Mexico, South Korea, and countries in the Middle East and has a joint venture in Taiwan and Hong Kong. Hubbell has its subsidiaries in the US, Canada, Switzerland, Puerto Rico, China, Mexico, Italy, the UK, Brazil, Australia, and Ireland. It operates through 52 manufacturing facilities and 18 warehouses. Some of the key brands through which the company serves its products are Bell, Raco, Gleason Reel, Bryant, and Wiegmann.

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