Commercial Flexible Metal Conduit Market Size & Share 2024-2032
Market Size by Trade Size (½ to 1, 1 ¼ to 2, 2 ½ to 3, 3 to 4, 5 to 6.
Report ID: GMI10347
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Published Date: July 2024
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Report Format: PDF
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Authors:
Ankit Gupta, Vishal Saini
Commercial Flexible Metal Conduit Market Share
The commercial flexible metal conduit market was valued at USD 164.7 million in 2023, is projected to grow at a CAGR of 6.9% by 2032. This expansion stems from the growing need for improved electrical safety, greater construction and infrastructure activities, and the increased use of flexible wiring systems in commercial buildings.
Commercial Flexible Metal Conduit Market Key Takeaways
Market Size & Growth
Key Market Drivers
Challenges
The growth in the adoption of conduits and their associated fittings is aided by improvement in the materials and technology used for their construction as well as the ease with which they can be installed. In September 2023, Atkore Flexicon announced the launch of new conduit systems and fittings which has a UL 360 rating, and also contains zinc coating, which makes it advantageous for use in the food, pharmaceutical and electronics sectors.
Furthermore, new regulations that require the effective and safe use of electrical systems, together with the modernization trends of existing forms of infrastructure, fuel further growth of the market. Also, there is increased demand for sophisticated and flexible electrical conduit systems in most developing countries, which help increase the projected market growth substantially.
Commercial Flexible Metal Conduit Market Trends
There are some notable trends occurring in the commercial flexible metal conduit industry such as the growing concern with electrical safety and the use of flexible wiring systems in the commercial construction sector. The modernization of conduit materials is improving their ease of installation and durability, which makes the systems more appealing to contractors and builders. There are also some market participants that are motivated by the domestic regulatory environment intended to provide safe and effective electrical systems.
Also, the increasing investment for retrofit and upgrades of traditional systems in compliance of modern safety standards create additional demand. Some emerging economies are also increasing enabling construction activities, further augmenting the market. All these trends highlight a strong prospective outlook for the market.
Commercial Flexible Metal Conduit Market Analysis
The global trade of commercial flexible metal conduit (FMC) is projected to exceed USD 305 million by the year 2032. In North America, growth is driven by regulatory compliance of electrical systems and heightened infrastructure spending. In Europe, the market is supported by the demand for modern wiring systems in both new and remodelled structures.
The Asia Pacific region is growing rapidly as a result of increased construction activity and a rise in investment for industrial projects. At the same time, emerging economies in Latin America and the Middle East are propelled forward by accelerating urbanization and ever growing demand for reliable electricity supply in commercial buildings. This multitude of cross-regional factors drives the strong growth of the market.
The commercial flexible metal conduit market is projected to grow significantly, with an expected CAGR of over 5.5% towards the end of 2032 in the trade size from 2 ½ to 3 inches. The main factors include increased electrical safety requirements, greater use of flexible wiring systems in commercial buildings, and the development of more durable and easier to install conduit materials.
Furthermore, the regulatory environment fostering efficient and safe electrical systems, along with the increasingly common practice of retrofitting and upgrading older buildings also fuels the market. The growth potential of emerging economies which are increasing their construction and industrial investments also positively influences the market.
It is estimated that the commercial flexible metal conduits market will exceed USD 118 million in the Asia Pacific region by 2032. The growth is stimulated by new infrastructure constructions and rising building activities in the area. More commercial buildings are now being equipped with advanced and flexible electrical systems to comply with safety requirements and the emphasis on the modernization of older buildings.
Furthermore, the expansion of the industrial sector and investment in modern electrical systems continues to accelerate the growth of the market. These countries are also making useful contributions because they need to modernize their electrical systems to cater for the ever-increasing commercial and industrial activities.
In the US, the market for the commercial flexible metal conduit is driven by strict electrical safety regulations, strong infrastructure investments, and the increasing development of energy-efficient structures. The demand from retrofitting and modernization of old buildings is growing fast, and as a result, the fabrication of conduits is more advanced enhancing their strength, durability, and ease of installation. Improved electrical systems and increasing power reliability requirements in commercial projects fuel the growth of the market.
Commercial Flexible Metal Conduit Market Share
ABB is a major player in the commercial flexible metal conduit industry, as a result of its innovative products and global reach. ABB’s embedded value in this segment comprises proprietary conduit systems which focus on industrial and commercial installations for their ease of use, safety, and robustness. The products support the increasing need for dependable electric systems infrastructure in the manufacturing, pharmaceutical, and telecommunication industries across the globe.
Commercial Flexible Metal Conduit Market Companies
Some of the key market players operating across the commercial flexible metal conduit industry are:
Commercial Flexible Metal Conduit Industry News
The commercial flexible metal conduit market research report includes an in–depth coverage of the industry with estimates & forecast in terms of revenue in USD Million from 2021 to 2032, for the following segments:
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Market, By Trade Size
The above information has been provided for the following regions and countries:
Research methodology, data sources & validation process
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