The Global Flexible Electrical Conduit Market size is expected to reach $2.7 billion by 2030, rising at a market growth of 8.6% CAGR during the forecast period.In the year 2022, the market attained a volume of 260.5 Mega Meter, experiencing a growth of 4% (2019-2022).
The utilization of Flexible Conduits is increasing notably in manufacturing facilities. Consequently, manufacturing facilities generated $103.6 million revenue in 2022. There is frequently a large variety of gear and equipment in manufacturing plants that need electrical connections. Flexible conduits assist route wiring to and from this equipment while offering resistance to vibration, movement, and impact. Additionally, flexible conduits made for usage in hazardous environments can offer a safe means to route electrical cable without creating sparks in manufacturing settings where there are potentially dangerous or explosive atmospheres, including chemical processing facilities or regions with combustible materials. Some of the factors impacting the market are increasing demand due to potential benefits of electrical conduit, electrical conduit demand for power generation is rising, and fluctuations in raw material prices.
An electrical conduit is a piping system that protects and transmits electrical wiring. Mechanical and electrical engineering shields cables, wires and data lines from extremes in temperature, pressure, tensile stress, and other factors. Conduits of various varieties are available from numerous brands and manufacturers for various applications with differing technical requirements. Moreover, the electrical conduit protects the insulation from accidental damage. Because of these qualities, the electrical conduit is a favored wiring system owing to which the market will witness growth. Due to its widespread use in power transmission, the market has substantial growth potential in the energy sector. The energy demand has significantly increased in recent years due to the world population's rapid growth, economic expansion, and urbanization. The non-OECD nations, particularly India and China, would make up a significant portion of the energy demand over this period, accounting for more than half of the world's energy consumption. The demand will likely be satisfied by adding new generation capacity, which would require new distribution and transmission infrastructure, thereby creating opportunities for the market.
However, the prices of raw materials and energy utilized in producing electrical conduit are volatile and are anticipated to remain so throughout the forecast period. The price of raw materials may increase due to the volatility of energy and crude oil prices, raising the price of raw materials used in electrical conduit. Therefore, the price of these components directly affects the price of electrical conduit. In addition, a rise in the price of raw materials causes vendors to increase the price of their products or lower their profit margins, negatively impacting the market expansion.
On the basis of application, the market is bifurcated into rail infrastructure, manufacturing facilities, shipbuilding & offshore facilities, process plants, energy, and others. In 2022, the shipbuilding & offshore facilities segment dominated the market with maximum revenue share. Activities for offshore exploration & production have expanded due to the rising demand for oil & gas. This fuels the demand for offshore and shipbuilding facilities, which has a favorable effect on the demand for flexible electrical conduits. These projects call for the building of considerable electrical infrastructure, including cables and wiring systems. Due to this, the shipbuilding and offshore industries are in demand for flexible electrical conduits.
By material type, the market is classified into metallic and non-metallic. The non-metallic segment covered a considerable revenue share in the market in 2022. Electricity is conducted between two places using non-metal and its application in this market. It is made of materials that may be easily formed into a thin wire with coatings made of plastic or metal, including rubber, plastic, fiberglass, and other materials. As they give the cables flexibility and endure high temperatures, they are frequently used in domestic electrical wiring systems.
Based on type, the market is categorized into flexible metallic tubing (FMT), liquid tight flexible non-metallic conduit (LFNC), flexible metallic conduit (FMC), and liquid tight flexible metal conduit (LFMC). In 2022, the flexible metallic tubing (FMT) segment witnessed the largest revenue share in the market. Flexible metallic tubing (FMT), which provides outstanding resilience against mechanical stress, vibrations, and severe conditions, is suitable for industrial applications. Since there is a need for dependable and adaptable wiring solutions for their expanding building projects, these markets offer the FMT segment enormous prospects.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1.4 Billion |
| Market size forecast in 2030 | USD 2.7 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2030 |
| Revenue Growth Rate | CAGR of 8.6% from 2023 to 2030 |
| Number of Pages | 410 |
| Number of Table | 750 |
| Quantitative Data | Volume in Mega Meter; revenue in USD Million, and CAGR from 2019 to 2030 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Material Type, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. In 2022, the Asia Pacific region led the market by generating the highest revenue share. Electrical conduit is predicted to be in high demand in emerging nations in APAC because of the expansion of the construction sector, which is driven by rapid economic growth and government initiatives for infrastructure development. These countries' expanding populations also provide a significant customer base. Factors including the ready supply of labor, raw materials, advanced technologies, and inventions have fueled the APAC region's economic expansion.
Free Valuable Insights: Global Flexible Electrical Conduit Market size to reach USD 2.7 Billion by 2030
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Dura-Line Corporation (Orbia Advance Corporation, S.A.B. de C.V.), ABB Group, Atkore, Inc., Saint-Gobain Group, Legrand Group, Hubbell Incorporated, Schneider Electric SE, Parker Hannifin Corporation, Champion Fiberglass, Inc., and NewAge Industries, Inc.
By Application(Volume, Mega Meter, USD Million, 2019-2030)
By Material Type(Volume, Mega Meter, USD Million, 2019-2030)
By Type(Volume, Mega Meter, USD Million, 2019-2030)
By Geography(Volume, Mega Meter, USD Million, 2019-2030)
This Market size is expected to reach $2.7 billion by 2030.
Electrical conduit demand for power generation is rising are driving the Market in coming years, however, Fluctuations in raw material prices restraints the growth of the Market.
Dura-Line Corporation (Orbia Advance Corporation, S.A.B. de C.V.), ABB Group, Atkore, Inc., Saint-Gobain Group, Legrand Group, Hubbell Incorporated, Schneider Electric SE, Parker Hannifin Corporation, Champion Fiberglass, Inc., and NewAge Industries, Inc.
The expected CAGR of this Market is 8.6% from 2023 to 2030.
The Metallic segment is leading the Market by Material Type in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $2.1 billion by 2030.
The Asia Pacific region dominated the Market by Region in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $1.1 billion by 2030.
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