Flexible Metallic Tubing Market Size - By Trade Size (½ to 1, 1 ¼ to 2, 2 ½ to 3, 3 to 4, 5 to 6, Others), By Application, By End Use (Residential, Commercial, Industrial, Utility), Regional Outlook & Growth Forecast, 2024 – 2032
Report ID: GMI10032
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Published Date: June 2024
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Report Format: PDF
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Base Year: 2023
Companies covered: 15
Tables & Figures: 20
Countries covered: 19
Pages: 110
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Flexible Metallic Tubing Market
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Flexible Metallic Tubing Market Size
The flexible metallic tubing market was valued at USD 448.6 million in 2023 and is expected to expand at a CAGR of 9.2% through 2032. The growth in urbanization and development in residential, commercial and industrial sectors has led to greater demand for effective electrical and data cabling protection solutions.
For instance, the World Bank stated that in 2022, nearly 1/3 of India’s population resided in cities, which is a 4% increase over the last decade driven by migration from rural areas in search of employment. Increased construction in emerging economies creates a need for robust and flexible conduit systems to support efficient installation of wiring systems.
Flexible Metallic Tubing Market Trends
The flexible metallic tubing industry is witnessing significant trends driving its growth and evolution. Due to the increasing urbanization and infrastructure development, there is a growing need for strong and flexible wiring in the construction and industrial sectors. The move towards higher levels of automation and smart building moreover enhances the need to have dependable conduit systems for the protection of intricate electrical wiring.
In addition, development of the corrosion resistance of flexible metallic tubing materials and enhancement of their flexibility is broadening the scope of its use in many more industries. Moreover, the increase in flexible metallic tubing products is a response to the strict safety policies and building regulations that need to be met. These factors remain as the primary motivators of the development and market diversification of the market.
Flexible Metallic Tubing Market Analysis
The flexible metallic tubing industry is primarily driven by trade sizes 2 ½ to 3, which are anticipated to surpass USD 290 million by 2032. These sizes give an optimal combination of flexibility and rigidity, ensuring adequate structural integrity for broad industrial usage. They are available in abundance and thus are extensively used in standard electrical installations. This also makes them easy to find and familiar to contractors and installers.
On the other hand, these sizes are appealing to cost conscious buyers because of their competitive pricing, without sacrificing the quality of the product or its performance. Their versatility, together with widespread use in regular installations, makes these sizes the ideal solution for buyers looking for reduced expenditures and optimized efficiencies.
The industrial segment for flexible metallic tubing market is expected to witness a CAGR of more than 8.5% by 2032. This growth stems largely from the increasing demand for tough, robust and multi-purpose tubing systems in construction, oil and gas, automotive, aerospace and other industries. The application of flexible metallic tubing is furthering due to the need for high performance materials that can survive harsh conditions of extreme heat, pressure and corrosiveness. As well, improvements in technological processes and increased focus on the management of energy and industrial safety further enable market growth.
The Asia Pacific flexible metallic tubing market is projected to surpass USD 410 million by 2032 owing to the flexible metallic tubing's rapid industrialization in China, India and Japan. In addition to those reasons, government policies aimed at fostering growth in the industry, developments in the energy saving and safety measures in addition to the use switching to new tubing materials and technology contributes to the expansion of the market.
In September 2021, ABB made significant changes to the designs of conduit and cable supports for the worldwide rail transport industry which was disclosed during an exhibition in a bid to make improvements to the economy, efficiency, and safety of systems rail infrastructure.
Flexible metallic tubing systems market in the US is steadily expanding propelled by fluctuations in construction, automotive, aerospace, and oil and gas industries. Focus on safety regulations and infrastructure technology progresses construction safety measures. The shift towards smart manufacturing and automation strengthens the requirement for top end tubing solutions enabling dependable transmission of fluids and gases as well as safeguarding electrical cables in various industrial settings.
Flexible Metallic Tubing Market Share
ABB holds a considerable market share in the flexible metallic tubing industry as a result of its innovative creations and international presence. ABB's advanced manufacturing processes and broad spectrum of products allow the company to meet and ensure the dependability and efficiency. With a consistent focus on quality, efficiency and safety, ABB's customers from all over the world have rated its tubing solutions products among the best and confirm the company’s leadership position in the marketplace.
Flexible Metallic Tubing Market Companies
Some of the key market players operating across the flexible metallic tubing industry are:
Flexible Metallic Tubing Industry News
Flexible metallic tubing 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
Market, By Application
Market, By End Use
The above information has been provided for the following countries: