According to a new report by Allied Market Research titled, World Cable Conduit Systems Market - Opportunities and Forecasts, 2015-2022, the global cable conduit systems market is expected to reach $7.3 Billion by 2022, growing at a CAGR of 11.2% from 2016 to 2022. North America accounted for the highest share of the overall market revenue in 2015. However, Asia-Pacific region is expected to witness the fastest growth during the forecast period, surpassing the North American market from 2017 onwards.
The cable conduit systems market by type comprises rigid and flexible conduit systems, which are made of metallic or non-metallic materials. In 2015, the rigid cable conduits accounted for approximately 73% of the total cable conduit systems market revenue, owing to the strength and durability they provide. However, flexible conduits are expected to portray higher demand than rigid conduits during the forecast period because of the ease of installation and increasing number of replacements of wiring systems.
Cable conduits are widely used across different industry verticals including manufacturing, construction, IT and telecommunication, healthcare, energy, and others. The manufacturing sector is the highest revenue contributor to the global cable conduits market, owing to the infrastructural developments especially in the Asia-Pacific region. However, the IT and telecommunication sector is predicted to be the fastest growing end-user segment over the forecast period owing to the increasing number of technology start-ups, worldwide.
North America, Asia-Pacific, Europe, and LAMEA are the geographical segments of this market. North America was the leading revenue contributor in 2015 owing to higher demand and utilization of highly efficient cable management products. In terms of growth, the Asia-Pacific region is estimated to witness the highest CAGR, because of the growing industrialization and increasing workforce mobility.
Key findings of the study:
· The adoption of cable conduit systems is higher among industrial and commercial sectors compared to residential ones.
· Rigid cable conduits depict the highest market share compared to flexible conduits. However, flexible conduits are expected to grow at a faster rate than rigid conduits during the forecast period.
· Based on the geographic analysis, North America is currently the highest revenue-generating region; however, Asia-Pacific is expected to hold higher share by 2022.
· The end-user analysis portrays the manufacturing sector to be the highest contributor in the forecast period.
· Urbanization and upcoming infrastructural projects paired with technological innovations are the expected growth drivers of cable conduit systems market.
Most of the companies operating in cable conduit systems market opt for strategies such as acquisition, partnership, product launch, and expansion with an intent to gain maximum market share. The key players profiled in this report are Atkore International Inc., Thomas & Betts Corp, Legrand, Schneider Electric, Hubbell Incorporated, AFC Cable Systems, Inc., Calpipe Industries Incorporated, Eaton Corporation Plc, Dura-Line Holdings, Inc., igus inc., and Champion Fiberglass, Inc.
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions". AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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