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Electrical Conduit Market Trends

Report ID: GMI2551
Published Date: May 2023
Report Format: PDF

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Electrical Conduit Market Trends

The demand for electrical conduit systems is driven by various factors, including the desire for enhanced lifestyles and the need for safe and reliable wire and cable management solutions in residential and industrial settings. The industry also benefits from regulatory reforms and updates that promote standardized product specifications for installers and consumers, creating a favourable business environment. Additionally, there is a regional focus on integrating renewable electricity infrastructure and electrification in isolated areas, contributing to the growth of the electrical conduit industry. Overall, the industry is influenced by intense competition and favourable market conditions, as well as regulatory and consumer trends that support its development.

Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of electrical conduit was valued at USD 10 billion in 2023 and will reach over USD 19.9 billion by 2032, propelled by increasing concerns related to electrical supply faults, fire hazards, health risks, and operational safety.

Non metal conduit units are expected to grow at over 8% CAGR from 2023 to 2032 on account of their versatility and wide range of applications in electricity distribution networks, ranging from small residential electrical networks to large utility-assisted distribution infrastructure.

The energy application segment of electrical conduit industry is poised to grow at a 7% CAGR through 2032 owing to the growing emphasis on renewable energy sources, increasing demand for electricity, and the modernization and upgrade of existing energy infrastructure.

Asia Pacific electrical conduit market is slated to expand at more than 8.5% CAGR over 2023-2032 on account of several factors such as population growth, urbanization, and government initiatives to promote infrastructure development.