The North America Flexible Electrical Conduit Market would witness market growth of 7.8% CAGR during the forecast period (2023-2030).In the year 2019, the North America market's volume surged to 69.1 Mega Meter, showcasing a growth of 3.4% (2019-2022).
Flexible electrical conduits are expected to experience significant growth due to the expansion of offshore wind farms. Offshore wind installations are proliferating in response to the increased demand for sustainable energy; this calls for conduit solutions that are dependable and long-lasting to protect electrical cables in challenging marine conditions. Flexible conduits enable effective and secure electricity transfer, promoting market growth.
A type of tubing called a flexible electrical conduit is intended to offer electrical wires and cables a flexible and secure passage. These conduits are utilized when standard rigid conduits are ineffective or unsuitable. Flexible electrical conduits are commonly constructed from PVC (Polyvinyl Chloride), polyethylene, or metal and are available in various shapes and sizes.
The market has grown significantly due to its many advantages and wide range of uses. One of the primary advantages of these conduits is their flexibility and pliability, allowing for easy installation in confined or curved spaces where rigid conduits would be difficult to maneuver—flexibility safeguards enclosed electrical wires against vibrations, movements, and impacts.
The region has witnessed increased population awareness and residential & commercial space costs. Foreign travel is essential to the US economy. Before the pandemic in 2019, foreign tourists contributed around $640 million per day to the American economy by spending $233,5 billion. In addition, urbanization in North American nations like the United States, Canada, and Mexico continues to rise due to improved economic conditions. In the wealthy nations of the region, especially the United States and Canada, the desire for luxurious interiors for commercial and residential buildings has skyrocketed. Due to this, it is anticipated that the need for high-tech, multifunctional house interiors will increase, leading to a boom in demand for flexible electrical conduit in North America in the future years.
The US market dominated the North America Flexible Electrical Conduit Market by Country in 2022, and would continue to be a dominant market till 2030; thereby, achieving a market value of $545.6 million by 2030. The Canada market is estimated to grow at a CAGR of 10.3% during (2023 - 2030). Additionally, The Mexico market would witness a CAGR of 9.3% during (2023 - 2030).
Based on Application, the market is segmented into Shipbuilding & Offshore Facilities, Process Plants, Energy, Rail Infrastructure, Manufacturing Facilities, and Others. Based on Material Type, the market is segmented into Metallic, and Non-Metallic. Based on Type, the market is segmented into Flexible Metallic Tubing (FMT), Flexible Metallic Conduit (FMC), Liquid Tight Flexible Non-Metallic Conduit (LFNC), and Liquid Tight Flexible Metal Conduit (LFMC). Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Flexible Electrical Conduit Market is Projected to reach USD 2.7 Billion by 2030, at a CAGR of 8.6%
The market research report covers the analysis of key stakeholders 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 Country (Volume, Mega Meter, USD Million, 2019-2030)
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