- The rapid urbanization in the developing economies leads to an increase in construction projects. This factor further increases the demand for alterable wiring systems. This factor is boosting the sales of cable conductive.

- Further, the wire and cable industry analysis identify the growth in renewable power generation. This is expected to be one of the primary factors for the growth of the electric cable and wire market. This factor is expected to boost the growth of the cable conduit market.

- However, the fluctuating prices of raw materials, such as steel, plastic, and aluminum, are the key factors hindering the growth of the global cable conduit system market.

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Key Market Trends

Commercial Buildings Offer Potential Growth

- The American Institute of Architects (AIA) semi-annual report indicates that the commercial construction sectors will generate much of the expected gains and the high demand for better infrastructure provides opportunities for cable conduit systems.

- Further, there is a growing demand for safer and more secure wiring systems in commercial and industrial applications. The factors, such as compressive strength and resistance of conduits, are of great significance, especially in industry and crafts business. Circuit integrity in case of fire and the prevention of hazardous smoke or gas are the key priorities in public areas, such as airports, railway stations or hotel facilities.

- Moreover, with the advancements in technology, IoT-ready commercial building design is emerging. IoT networks often require a “backhaul” fiber network. Depending on the size of the operation and the data generated, it will require wired connections. This is expected to create a huge market opportunity for the cable conduit market.

Asia-Pacific to Witness Fastest Growth

- The growth in Asia-Pacific is attributed to the rapid infrastructure building activities being undertaken in the region, mainly in China and India. In these countries, rural areas are being converted into urban areas and these countries will collectively be responsible for more than a 50% share of the growth in the construction industry by the end of 2020.

- Moreover, the increasing projects in the field of electrification and power supply in these regions also provide ample opportunity for the growth of the electrical conduit pipe market.

- Additionally, in India, the initiatives (such as excise duty exemption for Ferro-silicon-magnesium and pig iron used for manufacturing components for wind-operated electric power generators as well as the target set by the Jawaharlal Nehru National Solar Mission to generate more than 1,00,000 MW of solar power by the end of 2022) are expected to boost the demand for electrical wires and cables.

- With this continuous growth in the building and construction industry, along with the increase in demand for renewable sources of energy, the demand for electrical conduit pipes is expected to increase over the forecast period.

Competitive Landscape

The overall electrical conduit systems market is fragmented in nature, with a large number of players operating in the market globally. In addition to innovative product offerings, cable and wire manufacturers are also following strategies, such as mergers and acquisitions to acquire new technologies and expand their customer reach. Companies are now adopting efficient techniques in an effort to provide consumers with innovated and cost-efficient products. Some of the key players are Schneider Electric, Hubbell Incorporated, ABB Group, etc., among others.

- August 2018 - ABB announced its expansion of the Thomas and Betts facility on Dennis Street in Athens. The addition to the plant is expected to boost production for their 21 product lines.

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