Albany - New York, Nov. 2, 2015 (GLOBE NEWSWIRE) -- According to a new market report published by Transparency Market Research "Cable Conduit Systems Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2015 - 2022," the global cable conduit systems market was valued at US$3.2 bn in 2014 and is forecast to expand at a CAGR of 11.0% from 2015 to 2022.
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Cable conduit systems are primarily used for installing wiring system in different construction applications. Thus, the market for cable conduit systems is largely driven by growing construction activities across the industrial, residential and commercial sectors. Major countries driving the market include India, China, Brazil, South Africa and other countries in the Middle East and Southeast Asia regions. Apart from this, the demand for cable conduit systems is also driven by their superior advantages over conventional wiring installation methods such as casing and capping, lead sheath wiring and others. The global cable conduit systems market is expected to reach market size of US$7.4 bn by 2022. The conduit systems offer better protection against physical damage, moisture, temperature and other harsh environmental parameters. However, despite excellent wire protection offered by these systems, major factor hindering the market growth is the high cost and difficulties faced during installation/alteration of these systems.
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Rigid cable conduit systems are amongst the most traditional wiring system installations. The dominance of rigid cable conduit systems, a revenue share of 76.1% in 2014, is primarily due to their high capacity for protection and availability in varied material types. However, costly and difficult installation, and challenging alteration of these systems hamper their growth and pave way for the flexible cable conduit systems. The flexible cable conduit systems are ideally suited for applications where installation space is critical and frequent alterations in the wiring system may be required. Another significant factor fuelling the adoption of flexible conduits is the availability of liquid-tight flexible conduits for installing wiring systems. With the growing need for quick and easy wiring installation across industrial applications, the flexible cable conduit systems are expected to gain market share and grow at a CAGR of 14.1% during the forecast period.
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The global cable conduit systems market is segmented on the basis of products, end-use industry and geographic regions. Cable conduit systems are classified, based on the type of products into rigid and flexible cable conduit systems. Different end-use industries for cable conduit systems include energy & utility, industrial manufacturing, transportation, IT & telecommunication, healthcare, residential, commercial and others. Industrial manufacturing segments such as food & beverages, oil & gas, IT & telecom and other infrastructure sectors require high quality conduit systems and are among the most profitable segments. Development of high performance conduit systems specifically for such industrial applications is expected to be highly beneficial for the conduit systems manufacturers.
Asia Pacific and Middle East & Africa are the most promising market for cable conduit systems due to rapidly growing urbanization and industrialization in these regions. These regions majorly have dominance of local manufacturers. Thus, partnering with the regional players helps in establishing presence in such regions easily and cost-effectively. However, the global cable conduit systems market is highly fragmented at regional levels with both organized and unorganized players operating in the market. Some of the major rigid cable conduit system manufacturers include Atkore International, Inc., Thomas & Betts Corporation, Legrand S.A., and Schneider Electric SE, among others.
Global Cable Conduit Systems Market, By Products
- Rigid Cable Conduit Systems
- Flexible Cable Conduit Systems
Global Cable Conduit Systems Market, By End-user Industry
- Energy & Utility
- Industrial Manufacturing
- IT & Telecom
- Residential Construction
- Commercial Construction (excludes Healthcare)
- Others Industries
Global Cable Conduit Systems Market, By Region
- Rest of North America
- Rest of Europe
Asia Pacific (APAC)
- Australasia (Australia, NZ, & Guinea)
- South Asia (India, Pakistan, Bangladesh, & Sri Lanka)
- Rest of APAC
Middle East and Africa (MEA)
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
South America (SAM)
- Rest of SAM
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Source:Transparency Market Research