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Industrial Flexible Metal Conduit Market, By Trade Size (½ to 1, 1 ¼ to 2, 2 ½ to 3, 3 to 4, 5 to 6, Growth Forecast 2024 – 2032
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Industrial Flexible Metal Conduit Market
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Base Year: 2023
Companies covered: 17
Tables & Figures: 15
Countries covered: 19
Pages: 80
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Industrial Flexible Metal Conduit Market Size
The industrial flexible metal conduit market size was valued at USD 172.5 million in 2023, is expected to grow at a CAGR of 6.8% by 2032. Automation in various industries as well as having the need for an advanced and adaptable electrical wiring system is a crucial driver. There is also a strong growth in the construction activities as well as in the manufacturing industries. Moreover, the development in the materials and designs of conduits improves their strength and efficiency, making them more versatile.
For example, in September 2023, Atkore Flexicon launched new zinc plated conduits along with a new rated UL 360 fitting, providing new conduits focused on food, pharmaceutical, and electronics industry for critical applications. The increasing focus on safety and compliance with harsh rules and regulations also encourages the use of flexible metal conduits in industrial settings.
Industrial Flexible Metal Conduit Market Trends
The market of industrial flexible metal conduit is witnessing notable developments propelled by the evolution in technology and increasing need for strong and flexible wiring systems. Some of the key trends are the increasing use of automation in many industries which requires strong and flexible conduit systems for the wiring of complex networks. There is also increased focus on meeting the high standards of safety which increases the demand for conduits that have stringent regulations.
The advancement in material science is also contributing to the development of stronger, more corrosion resistant conduits, especially ones with anti-corrosive paints for certain industries such as food, pharmaceuticals, and electronics. Moreover, the growing construction activities and renovation of existing infrastructure facilities are also fuelling the growth of the market.
Industrial Flexible Metal Conduit Market Analysis
By the year 2032, the worldwide demand for industrial flexible metal conduit (FMC) is projected to be more than USD 320 million owing to multiple factors in varying regions of the world. In North America, technology growth as well as the construction and manufacturing industries growing significantly stand out. Europe has increased demand due to new strict safety norms and renewable energy infrastructure integration.
The factors that drive the Asia-Pacific region are the high rates of industrialization, urban development, and increased development funding in infrastructure. In Latin America, the growth of the automotive sector and the significant investment in infrastructure development are the main drivers. In contrast, the expansion of the oil and gas industry coupled with the low level of development of infrastructure in the Middle East and Africa are arguably more beneficial.
The industrial flexible metal conduit market is set to grow vigorously, with prospects predicting a CAGR above 5.5% until 2032, particularly in respect of the 2 ½ to 3-inch trade size range. The forecast growth is attributed to greater spending on infrastructure, growth in construction systems, and increasing requirements for dependable electrical systems in commercial and industrial sectors.
Moreover, the growing restriction in safety standards combined with the increasing use of renewable energy provides further impetus for market growth. The rapid growth of cities and industries in the developing parts of the world, as well as the increased focus on safety and effectiveness of electrical installations, further strengthen the market outlook.
The industrial flexible metal conduit market in Asia Pacific is estimated to exceed the value of USD 130 million by the year 2032. This is attributed to rapid industrialization and urbanization coupled with large scale infrastructure investments. For instance, the World Bank reported that urbanization in India has grown almost 4% over the past ten years, which will help fuel growth for the region. Furthermore, there is an elevation in the requirement for dependable and effective electrical systems, and there are high levels of investment in safety regulations and renewable energy which boost market growth.
Furthermore, the increasing manufacturing activities in the Asia Pacific region are also important for the growth of the industrial flexible metal conduit (FMC) market due to increases in infrastructure and Industrial activities which have strengthened the demand for electrical systems.
In the U.S., growth in the market for industrial flexible metal conduits stems from the continuous innovation in construction methods, growth in the renewable energy sector, and regulations around electrical system safety. In addition, the developing traditional infrastructure and demand for commercial and industrial reliable electrical services also helps grow the market.
Industrial Flexible Metal Conduit Market Share
ABB is one of the key players in the flexible conduit market owing to its wide offering range in electrical solutions. The company’s innovative products substantially improve reliability and efficiency in all industrial sectors. As a result of the above-mentioned factors complemented by technology improvement, increased safety requirements, and greater demand for strong electrical frameworks enable ABB to increase its market share.
Industrial Flexible Metal Conduit Market Companies
Some of the key market players operating across the industrial flexible metal conduit industry are:
Industrial Flexible Metal Conduit Industry News
The industrial 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: