Global cable conduit systems market expected to reach $12.24 billion by 2030: AMR says

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Significant increase in global commercial construction activities, widespread use of submersible electrical conduits, liquid-tight conduits, and fire-resistant conduits, rapid global urbanization, and increasing demand for highly secure and secure wiring systems are expected to drive the growth of the global cable conduit systems market. By type, the rigid cable conduit system segment accounted for the largest market share in 2020. By region, Asia Pacific is projected to witness the fastest CAGR through 2030.

PORTLAND, Ore., May 31, 2022 (GLOBE NEWSWIRE) — According to a report published by Allied Market Research, global Cable Conduit Systems Market $6.13 billion was created in 2020 and is expected to reach $12.24 billion by 2030, growing at a CAGR of 7.8% from 2021 to 2030. The report provides an in-depth analysis of top investment sectors, top winning strategies, drivers and opportunities, market size and estimates, competitive scenarios and volatile market trends.

Significant increase in global commercial construction activities, widespread use of submersible electrical conduits, liquid-tight conduits, and fire-resistant conduits, rapid global urbanization, and increasing demand for highly secure and secure wiring systems are expected to drive the growth of the global cable conduit systems market. On the other hand, complicated installation process is expected to hinder growth to some extent. However, continued technological advancements in catheter products are expected to create extraordinary opportunities for the growth of the industry.

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COVID-19 Scenario

  • The outbreak of COVID-19 has negatively impacted the growth of the global cable conduit systems market due to lockdowns in various countries across the globe. The lockdown has resulted in the closure of most manufacturing units in the electronics and semiconductor industries, including those for cable conduit systems. The government is doing this to curb the spread of the virus during the pandemic.

  • In addition, the impact on the market was further exacerbated by the significant slowdown in the supply chain and insufficient supply of raw materials due to the government’s import and export restrictions.

  • However, the market is expected to recover soon.

This report provides a detailed segmentation of the global Cable Conduit Systems market on the basis of type, end user, and region.

Depending on the type, the rigid cable conduit system partially retains largest market share In 2020, it accounted for nearly three-quarters of the market share. On the other hand, the flexible cable conduit systems segment is expected to register the fastest CAGR of 10.6% over the forecast period.

In terms of end users, the IT and telecom segment accounted for the majority share in 2020, accounting for more than one-fifth of the overall market. On the other hand, the manufacturing segment is expected to register the fastest CAGR of 10.5% during the forecast period.

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By region, the North American market will hold the largest share in 2020, accounting for nearly one-third of the overall market. On the other hand, Asia Pacific is expected to register the fastest CAGR of 9.6% during the forecast period.

Key players analyzed in the global cable conduit systems market report include Atkore International Group Inc., S&C Electric, Champion Fiberglass Inc., Dura-Line Holdings Inc., Eaton Corporation Plc., Hubbell Incorporated, Legrand, Schneider Electric, ABB, and igus company.

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Allied Market Research (AMR) is the full-service market research and business consulting division of Allied Analytics LLP in Portland, Oregon. Allied Market Research provides unparalleled quality “Market Research Reports” and “Business Intelligence Solutions” to global corporations as well as small and medium enterprises. AMR provides targeted business insights and consulting to help its clients make strategic business decisions and achieve sustainable growth in their respective market segments.

Pawan Kumar, CEO of Allied Market Research, is leading the organization to deliver high-quality data and insights. We have professional corporate relationships with several companies, which help us mine market data, help us generate accurate research data sheets and confirm the maximum accuracy of our market forecasts. Every data presented in our published report is extracted through preliminary interviews with senior officials of leading companies in the relevant fields. Our approach to secondary data sourcing includes in-depth online and offline research and discussions with industry knowledgeable professionals and analysts.

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