Electrical Conduit Market
Analysis
Business, Rising Adoption, Business Insights, And SWOT
KEY MARKET INSIGHTS
The electrical conduit market was valued at USD 16.2 Bn in 2021. The market is projected to grow USD 25.3 Bn in 2030, at a CAGR of 5.7%.
Electrical Conduit Market is a tube-shaped device that protects and aligns a building's or structure's overall electrical wiring. Electrical conduits are being used more frequently to combat fires, electrical supply failures, and other operational dangers. Conduits are highly corrosion-resistant, water-resistant, non-combustible, and fire-resistant. A conduit is a pipe or tube that allows fluids or electrical wires to pass through it. The materials running through these channels are protected and routed through these pipes. Plastic conduits are utilised in a wide range of industries, including construction, manufacturing, telecommunications, and agriculture. Plastic conduits can now flow chemicals and other fluids that would corrode any other material used to manufacture conduits, thanks to recent advancements in the production process.
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Wienerberger AG
PLAYERS PROFILED
: HellermannTyton Schneider Electric SEKISUI CHEMICAL CO., LTD. Legrand Aliaxis Group SA
REGIONAL INSIGHTS
The global electrical conduit market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Europe region is dominating the market share of global electrical conduit market owing to product demand will be fueled further by a growing focus on replacing traditional electrical equipment with improved high-quality systems.
In 2018, the US government announced intentions to invest USD 10 billion in new electric networks, with the goal of lowering the Western Transmission Network's curtailment rate. The adoption of sustainable energy sources and the necessity for new grids is likely to fuel industrial expansion over the projection period.
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