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Industrial Liquid-Tight 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
Report ID: GMI10142
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Published Date: July 2024
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Report Format: PDF
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Authors: Ankit Gupta, Vishal Saini
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Base Year: 2023
Companies covered: 15
Tables & Figures: 15
Countries covered: 19
Pages: 120
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Industrial Liquid-Tight Flexible Metal Conduit Market
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Industrial Liquid-Tight Flexible Metal Conduit Market Size
The industrial liquid-tight flexible metal conduit market was valued at USD 169.9 million in 2023, is projected to grow at a CAGR of 8.3% by 2032. This growth is being propelled by multiple facets including industrial automation, growing requirement for adaptable and secure wiring protection systems, and strict safety measures. The development is enhanced by the construction industry, where using liquid-tight conduits are crucial in safeguarding electrical wiring in rough surfaces. Moreover, increasing number of renewable energy projects and the need for strong electrical systems in these endeavours also enhance market demand.
Advancements in technologies and innovations within conduit materials and designs also fuelling the market expansion due to increased strength and effective performance in severe industrial applications. In September of 2023, Atkore Flexicon introduced new UL 360 rated fittings and liquid-tight zinc-coated conduits for food, pharmacy, and electronics industries. This enables more robust, efficient, and safe electrical installations to take place. These advancements alongside the growing emphasis on safety standards mark a positive change for the industry.
Industrial Liquid-Tight Flexible Metal Conduit Market Trends
There is a significant growth in the industrial liquid-tight flexible metal conduits industry driven by the increased focus on the development of strong and stable electrical frameworks in sectors including construction, manufacturing, and energy. Rising automation and the adoption of smart technologies are also contributing to increased demand for Conduits Systems for safe and efficient wiring. There is also an increasing emphasis on stringent safety rules and regulation which is pushing the use of high-grade raw materials.
Along with these environmental considerations have also initiated a movement towards more sustainable and recyclable materials. In a geographical context, the rapid growth of industries within developing countries is a major contributor to the growth of the market in question. In addition, new developments in conduit designs and materials are being made to improve flexibility, ease of installation, and performance which satisfies manifold modern industrial requirements.
Industrial Liquid-Tight Flexible Metal Conduit Market Analysis
The global market for industrial liquid-tight flexible metal conduit (LFMC) is projected to surpass USD 355 million by 2032. This increase in revenue is stimulated by the growing demand for reliable and robust electric systems in industries including construction, manufacturing, and energy. Also, increases of using automation and smart technologies necessitate enhanced advanced flexible conduits. In addition, the stringent development of safety regulation controls the market towards high class materials.
The increasing use of environmentally friendly, recyclable materials coupled with the accelerated industrialization in developing countries would also boost the market. Advances in the design of the conduits and their materials increases the flexibility, ease of installation, and functionality for modern industrial purposes.
The industrial liquid-tight flexible metal conduit market is set for strong growth, with a projected CAGR of over 7% through 2032, especially in the 2 ½ to 3 inch trade size segment. This growth is fueled by heightened needs for these services within the construction, manufacturing, and energy industries. The growth of automation and smart technologies drives the need for better wiring systems that depend on innovative conduit systems.
The demand for aluminum structures is also being driven by heightened safety requirements and new laws. Further, the increase in market growth is also be driven by changes in material use due to environmental concerns with the increased rate of industrialization in developing economies. Improvements in the design of conduits themselves results in increased performance while making them easier to install and more flexible.
The Asia Pacific industrial liquid-tight flexible metal conduit market is expected to exceed USD 140 million by 2032 due to the rapid industrialization and infrastructural enhancements in China, India, and Japan. In China, the requirement for robust electricity related infrastructures is on the rise owing to bulk investments in the construction and manufacturing sector.
Smart city initiatives combined with advancements in energy sector is propelling India’s adoption towards advanced conduit systems. The growing automation and tech innovations in Japan require reliable means of wiring. Moreover, the expansion of the market is also backed by new safety laws and regulations in addition to the changing construction materials to eco-friendly options.
The U.S. industrial liquid-tight flexible metal conduit market is on the rise because of the increased spending in development, manufacturing, and energy industries and it is expected to greatly increase as well. The increase in automation and adoption of new technologies requires advanced conduit systems to secure wiring. In addition, new stringent safety laws and the need of sustainability increases the need of high quality, durable, and eco-friendly materials for conduits and thus expands the market.
Industrial Liquid-Tight Flexible Metal Conduit Company Market Share
ABB has a sizable share in the industrial liquid-tight flexible metal conduit industry and uses its experience to respond to the increasing need for strong electrical infrastructures. Its innovative technologies address the needs of construction, manufacture, and energy sectors by providing advanced wire systems which are safe, reliable, and environmentally friendly.
Industrial Liquid-Tight Flexible Metal Conduit Market Companies
Some of the key market players operating across the industrial liquid-tight flexible metal conduit industry are:
Industrial Liquid-Tight Flexible Metal Conduit Industry News
The industrial liquid-tight 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: