Global Electrical Conduit Market Size, Share, and COVID-19 Impact Analysis, By Type (Rigid & Flexible), By Material (Metallic (Stainless Steel & Aluminum), Non-metallic (PVC, HDPE, PP & Others)), By Vertical (Construction, Manufacturing, Oil & Gas, IT & Telecommunication, Energy & Utility, & Others), and by Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa) Analysis and Forecast 2022-2030

KEY MARKET INSIGHTS

The electrical conduit market was valued at USD 16.2 Bn in 2021. The market is projected to grow USD 25.3 Bn in 2030, at a CAGR of 5.7%. Electrical conduit is a tube-shaped device that protects and aligns a building's or structure's overall electrical wiring. Electrical conduits are being used more frequently to combat fires, electrical supply failures, and other operational dangers. Conduits are highly corrosion-resistant, water-resistant, non-combustible, and fire-resistant. A conduit is a pipe or tube that allows fluids or electrical wires to pass through it. The materials running through these channels are protected and routed through these pipes. Plastic conduits are utilised in a wide range of industries, including construction, manufacturing, telecommunications, and agriculture. Plastic conduits can now flow chemicals and other fluids that would corrode any other material used to manufacture conduits, thanks to recent advancements in the production process. Metals, polymers, textiles, and burnt clays are used to create them. However, flexible conduits are occasionally utilized among residential and commercial constructions.  

The growing pace of industrialization and urbanisation, as well as the development in demand for energy or power generation around the world, are driving the electrical conduit industry. Increased public awareness of public safety and government adoption of safety laws are supporting the growth of the electrical conduit industry. The global electrical conduit market will benefit from increased efforts to reduce fire, health, electrical supply problems, and other operational risks, as well as favourable legislative reforms pertaining to the upgrading of standardised product requirements.

COVID-19 ANALYSIS

The COVID-19 epidemic had a significant influence on the electrical conduit market, resulting in a significant drop in CAGR. Despite the fact that the work may continue, delays and halts are predicted due to supply chain bottlenecks, labour shortages, and material shortages. Electrical conduit manufacturers and suppliers were heavily impacted by safety and government requirements made at the federal, state, and local levels in 2020. The COVID-19 pandemic has impacted every industry in the planet. Companies have been obliged to adapt or change their normal business activities as a result of the federal government's (US) recommendations to prevent the spread of the virus, as well as Shelter-in-Place Orders issued at the state and municipal levels. Due to corporate shutdown laws, social distancing conventions, and reduced municipal and state government office activity, electrical conduit manufacturers were impacted in 2020. The pandemic, on the other hand, hampered demand for electrical conduit, owing to a drop in demand for these conduits from the construction industry.

LATEST TREND

Increasing Usage of Electricity Consumption Among Population

The increase in demand for electricity consumption around the world is expected to be a major driving factor for the electrical conduit market. Furthermore, the rise in demand for electrical conduits in the industrial purposes is likely to drive the electrical conduit market forward. Rural electrification in several nations will likely to favor the market growth. The market has also benefited from the remodeling and upgrading of installed connections to improve safety.

DRIVING FACTORS

Rising Demand of Conduit Pipes and Fittings from Different Applications

Electrical conduits are in high demand because they allow electric cables to be routed around a building or any other structure. An electrical conduit is helpful because it allows for easier and more frequent changes in the wiring system while also providing protection in damp and dangerous environments. It's also a good approach to protect the wire system from environmental and other factors like chemical vapors, electromagnetic interference, dampness, amongst others.

Increasing Industrialization in Developing Countries

Rapid industrialization in developing nations is predicted to enhance demand for electrical conduits due to rising investments, raw material prices, and low-cost labour. Manufacturing, commercial, and industrial developments in the region have all contributed to the global electrical conduits market's overall expansion. The demand of electrical conduit pipes is rising due to increased demand from the construction, IT & Telecommunication, manufacturing, and oil & gas industries, as well as government initiatives in countries like Japan and India. Furthermore, the market for electrical conduits is likely to benefit from growing demand for manufacturing products.

RESTRAINTS

Concerns Pertaining to Fluctuating Costs in Raw Materials

Raw material price fluctuations in copper, aluminum, rigid, and other metals affect electrical conduit manufacturers. Raw material price volatility is caused by a variety of reasons such as economic conditions, exchange rates, and supply conditions, all of which have a negative impact on manufacturers. Price changes cause significant capital projects to be delayed or cancelled, slowing the growth of the electrical conduit market. However, to minimize the risk of pricing fluctuation, pricing patterns are tracked to help mitigate the risk.

SEGMENTATION

The global electrical conduit market is segmented by Type (Rigid & Flexible), By Material (Metallic (Stainless Steel & Aluminum), Non-metallic (PVC, HDPE, PP & Others)), By Vertical (Construction, Manufacturing, Oil & Gas, IT & Telecommunication, Energy & Utility, & Others) and Region. Based on the type, the market is categorized into rigid and flexible. Based on material, the market is categorized into metallic (Stainless Steel & Aluminum), non-metallic (PVC, HDPE, PP & others). Based on vertical, the market is categorized into construction, manufacturing, oil & gas, IT & telecommunication, energy & utility and others. Based on the region, the market is categorized into North America, Europe, Asia-Pacific, South America, Middle East and Africa.

Type Insights

Based on the type segment, the global electrical conduit market is categorized into rigid and flexible. The flexible segment has dominated the market share in 2020 of global electrical conduit market owing to the high strength, durability, and corrosion resistance, stainless rigid is an excellent choice for electrical conduit construction. This electrical conduit is light, less expensive than other solutions, and adaptable and simple to install. Electrical conduit that is flexible is considerably easier to deal with than hard metal or plastic conduit. This is because no bending is required. This electrical conduit is employed because of its benefits, which include being lightweight, being less expensive than other solutions, and being versatile and easy to install. Mild rigid is the most popular rigid grades among manufacturers. This is due to its many advantageous qualities, including corrosion resistance across a wide pH type, lightweight, excellent thermal conductivity, and no need for special fluids because it is compatible with simple clean water.

Material Insights

Based on the material segment, the global electrical conduit market is categorized into metallic, non-metallic. The non-metallic segment has dominated the market share in 2020 of global electrical conduit market owing to the capacity to work at greater temperatures and pressures. PVC, PP, HDPE, and other non-metallic polymers are used for electrical conduit. Non-metallic conduit must be flame retardant, robust, and resistant to heat, sunshine, and low-temperature impacts when used above ground. As the items' acceptance has grown, industry participants and manufacturers have moved their focus to product development and long-term supply. Positive consumer trends, product versatility, and cost-effective configuration will now drive the industry landscape.

Vertical Insights

Based on the vertical segment, the global electrical conduit market is categorized into construction, manufacturing, oil & gas, It & telecommunication, energy & utility and others. The construction segment is dominated the market share in 2020 of global electrical conduit market owing to the rate of commercial buildings is increasing in tandem with the rise in entrepreneurship. Commercial buildings and offices consume a lot of energy, which leads to an increase in the usage of non-metallic flexible conduit systems, which are safe and can handle a lot of power, and thus provide a lucrative plastic conduit market opportunity.

REGIONAL INSIGHTS

The global electrical conduit market is categorized into North America, Europe, Asia-Pacific, Latin America, Middle East and Africa. Europe region is dominating the market share of global electrical conduit market owing to product demand will be fueled further by a growing focus on replacing traditional electrical equipment with improved high-quality systems. In 2018, the US government announced intentions to invest USD 10 billion in new electric networks, with the goal of lowering the Western Transmission Network's curtailment rate. The adoption of sustainable energy sources and the necessity for new grids is likely to fuel industrial expansion over the projection period. However, Asia-Pacific region is anticipated to grow over the next few years of global electrical conduit market owing to the rapid industrialization in the region's developing countries, as well as rising investments in manufacturing, commercial, and industrial projects. The increased investments in the construction, manufacturing, and HVAC sectors are expected to drive the electrical conduits market in China. Factors such as the country's growing population and the government's attempts to improve infrastructure are likely to support the growth of the building and construction along with HVAC & refrigeration sectors, driving demand for these products throughout the forecast period.

PLAYERS PROFILED:

• HellermannTyton
• Schneider Electric
• SEKISUI CHEMICAL CO., LTD.
• Legrand
• Aliaxis Group SA
• Wienerberger AG
• Atkore
• Anamet Electrical, Inc.,
• ABB
• Sanco Industries Ltd.
• ASTRAL LIMITED
• Zekelman Industries
• Others

Key Developments:

December 2021- Atkore has announced the acquisition of Four Star Industries, manufacturer of ½” – 6” High Density Polyethylene (HDPE) conduit which will cater to telecommunications, utility, infrastructure and datacom markets.

October 2020- Wienerberger group expanded by taking lead into electrical installation and has been installed in large construction projects.

LIST OF KEY PLAYERS PROFILED:

• HellermannTyton
• SEKISUI CHEMICAL CO., LTD.
• Legrand
• Aliaxis Group SA
• Wienerberger AG
• Atkore

SEGMENTATION

By Type

• Rigid
• Flexible

By Material

• Metallic
  • Stainless steel
  • Aluminum
• Non-metallic
  • PVC
  • HDPE
  • PP
  • Others

By Vertical

• Construction
• Manufacturing
• Oil & Gas
• IT & Telecommunication
• Energy & Utility
• Others

By Region

• North America- U.S., Mexico, Canada
• Europe- UK, France, Germany, Italy
• Asia-Pacific- China, Japan, India
• Latin America- Brazil, Argentina, Colombia
• The Middle East and Africa- United Arab Emirates, Saudi Arabia