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The cable conduit systems market share is expected to increase by USD 1.81 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.24%.
This cable conduit systems market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers cable conduit systems market segmentations by product (rigid non-metallic, rigid metallic, flexible non-metallic, and flexible metallic), end-user (commercial, manufacturing, IT and telecommunication, healthcare, and others), and Geography (North America, APAC, Europe, MEA, South America, North America, APAC, Europe, MEA, and South America). The cable conduit systems market report also offers information on several market vendors, including ABB Ltd., Aliaxis Group SA, Atkore International Group Inc., Delphi Technologies Plc, Dura-Line, Eaton Corporation Plc, Hubbell Inc., igus GmbH, Legrand SA, and Schneider Electric SE among others.
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Based on our research output, there has been a negative impact on the market growth during and post COVID-19 era. The expansion of the construction industry is notably driving the cable conduit systems market growth, although factors such as high installation costs may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the cable conduit systems industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Key Cable Conduit Systems Market Driver
The expansion of construction industry is notably driving the cable conduit systems market growth. The cable conduit market has registered a steady growth predominantly owing to the continued expansion of the construction industry, particularly in emerging countries. The construction industry in emerging markets is expected to experience a ten times higher growth rate with respect to the global market. The high demand for better infrastructure provides opportunities for cable conduit systems. The Indian construction market is projected to grow faster than China, largely driven by urbanization and infrastructural investments. The momentum in the construction industry is propelling the demand for cable conduit systems across industrial, commercial, and residential sectors.
Key Cable Conduit Systems Market Trend
The demand for frequently alterable wiring systems is the key market trend driving the cable conduit systems market growth. Frequent changes to the wiring systems of commercial structures are common due to the installation of large equipment or the need for specialized systems to handle specific conditions like extreme heat or moisture. Industrial structures often have more demanding requirements for large currents and high voltage; corrosive, damp, or volatile environments; or frequently changing the layout of installed apparatus. In addition, hazardous areas and conditions may require specialized electrical wiring. The ability to allow frequent alterations in wiring systems makes conduit systems increasingly popular over conventional wiring systems.
Key Cable Conduit Systems Market Challenge
The major challenge impeding the cable conduit systems market growth is the high installation costs. Cable conduit systems cost higher than all other wiring methods, which limits their growth prospect to an extent. The installation is complex and requires highly skilled labor when compared to other wiring systems, which increases the labor cost. Additionally, the volatility in the prices of raw materials such as plastic, steel, and aluminum is also pushing up the costs. Metal conduits are costly due to the high prices of steel and aluminum. The fluctuations in the raw material prices disrupt the pricing strategy of the cable conduit system manufacturers. With the intense competition in the market and little product differentiation, vendors are required to maintain competitive pricing. This is acting as a deterrent to market growth, owing to the price sensitivity of customers.
This cable conduit systems market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2021-2025.
Technavio categorizes the global cable conduit systems market as a part of the global electrical components and equipment market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the cable conduit systems market during the forecast period.
The report analyzes the market's competitive landscape and offers information on several market vendors, including:
This statistical study of the cable conduit systems market encompasses successful business strategies deployed by the key vendors. The cable conduit systems market is fragmented and the vendors are deploying growth strategies such as product innovation and expansion of distribution channels to compete in the market.
To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
The cable conduit systems market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.
Our report provides extensive information on the value chain analysis for the cable conduit systems market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
The report has further elucidated on other innovative approaches being followed by manufacturers to ensure a sustainable market presence.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by End-user
7 Customer landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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