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What CAGR is Anticipated for the Electrical Conduit Market During the Forecast Period, and Why?

The growth of the electrical conduit market has been robust in the past few years. There will be an expansion from $7.25 billion in 2024, surging to $7.77 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 7.1%. The factors contributing to this growth during the historical period include the rise in building and construction activities, enhancement of electrical wiring and cable installations, development in industrial and commercial sectors, amplified safety demand concerning electrical wiring, and swift urbanization and infrastructural development.

It’s projected that the electrical conduit market will experience substantial growth in the upcoming years, ballooning to a value of $10.28 billion in 2029, and boasting a compound annual growth rate (CAGR) of 7.3%. This predicted growth during the forecast period could be attributable to a range of factors including updating and maintenance of infrastructure, an increase in renewable energy endeavours, surging demand for fibre optic conduits, modernisation of smart grid and electrical infrastructures, global market expansion, emerging market growth, as well as data centre and IT infrastructure expansion. Trending shifts expected in the forecast period involve integration of smart buildings, conduits that are sustainable and environmentally friendly, conduit material technological advances, cutting-edge innovations in conduit materials, and the introduction of flexible and rigid conduit solutions.

What Key Drivers Are Accelerating the Growth of the electrical conduit Market During the Forecast Period?

The anticipated increase in the need for power generation is set to spur the electrical conduit market. This surge in electricity generation demand stems from the swift rate of industrialization and urbanization, creating a necessity for electrical conduits. For instance, the International Energy Agency, headquartered in France, predicted in July 2024 that global electricity demand will rise by approximately 4% in 2024, a hike from 2.5% in 2023. Therefore, the expanding demand for electric power generation is expected to catalyze the progress of the electrical conduit market.

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Which Companies Are Poised to Shape the Future of the Electrical Conduit Market?

Major companies operating in the electrical conduit market include:

• ABB Ltd._x000D_

• Atkore International Group Inc._x000D_

• Cantex Inc._x000D_

• Champion Fiberglass Inc._x000D_

• China Lesso Group Holdings Ltd._x000D_

What Are the Latest Innovations and Trends Influencing the Electrical Conduit Market?

Leading businesses in the electrical conduit market are making strides in producing creative solutions like high-quality conduit systems to boost durability, promote safety norms, and fulfil the growing necessities for effective electrical framework in both the commercial and residential sectors. Premium conduit systems denote top-tier electrical conduits constructed with sophisticated materials and properties that provide enhanced sturdiness, heightened safeguarding for electrical cables, and augmented resistance to environmental elements. For example, in July 2022, Termination Technology Limited, a firm based in the UK that specializes in the manufacture of cable additions for the electrical wholesaler industry, introduced the Premflex range. This is a high-end assortment of conduits and glands designed to offer superior performance under various conditions. The new assortment includes choices made of Bare Galv, LSZH Coated Galv, and PVC Coated Galv, and is available in sizes ranging from M16 to M50. The Premflex range is designed to cater to the requirements of contractors looking for robust and easy-to-fix products with both fixed and swing gland options.

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What Are the Major Categories and Their Growth Dynamics in the Electrical Conduit Market?

The electrical conduit market covered in this report is segmented –

1) By Type: Rigid, Flexible

2) By Material: Metallic, Non Metallic

3) By End Use Industry: Building And Construction, Industrial Manufacturing, IT And Telecom, Oil And gas, Energy And Utility, Other End-Users

Subsegments:

1) By Rigid: Rigid Metal Conduit (RMC), Intermediate Metal Conduit (IMC), Rigid PVC Conduit, Galvanized Steel Conduit

2) By Flexible: Flexible Metal Conduit (FMC), Liquid-Tight Flexible Metal Conduit (LFMC), Flexible Non-Metallic Conduit (FNMC), Liquid-Tight Flexible Non-Metallic Conduit (LFNC)

What Regions Are Contributing Significantly to the Growth of the Electrical Conduit Market?

Asia-Pacific was the largest region in the electrical conduit market in 2024. Asia-Pacific is expected to be the fastest growing market in the electric conduit market during the forecast period. The regions covered in the electrical conduit market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

How Is the Scope and Reach of the Electrical Conduit Market Defined?

The electrical conduit refers to tubes in which electrical wires are housed for a variety of building or structural applications. It protects and routes electrical wiring in a building or structure. The use of an electrical conduit protects wires from damage from the outside environment for a long time and gives them a proper passage.

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