The global plastic conduit market is expected to generate revenue worth $16.25 billion in 2018, and is projected to reach $25.68 billion by 2026
NEW YORK, Jan. 13, 2020 /PRNewswire/ --
Plastic Conduit Market by Type (Rigid Conduit and Flexible Conduit), Material (Polyvinyl Chloride, High-Density Polyethylene, Polypropylene, and Others), and Industry Vertical (Manufacturing, Construction, IT & Telecom, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2019-2026
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The global plastic conduit market is expected to generate revenue worth $16.25 billion in 2018, and is projected to reach $25.68 billion by 2026, registering a CAGR of 5.7% during the forecast period. A conduit is referred to as a pipe or passage for fluids or electrical wires to pass through. These pipes enable protection and routing to the materials flowing through these channels. Plastic conduits are widely used across various industry verticals such as construction, manufacturing, telecommunication, and agriculture among others. Recent developments in the manufacturing process of plastic conduits enable them to pass chemicals and other fluids, which would make any other material used to make conduits corrosive.
There is a growing demand for electrical conduits which ensures routing of electric wires all around a building or any premise. An electrical conduit is advantageous since it results in simpler wiring and is safer, permitting easier and frequent alterations in the wiring system, providing protection even in damp and hazardous locations. Moreover, it is an effective way to protect the wiring system from environmental and other conditions such as chemical vapors, electromagnetic interference, moisture, and others.
Emerging technologies and materials are paving way for the plastic conduits market to expand globally. Adoption of enhanced materials such as HDPE is preferred while using these conduits in residential areas. These conduits are used to protect electrical power and telecommunication cables passed within them. It offers unmatched corrosion and chemical resistance, and is flexible, durable, and available in long reel lengths to reduce joints and installation time. HDPE conduit is available in a variety of sizes, colors, dimensions, and lengths.
The plastic conduit market exhibits a phenomenal growth globally, owing to increase in expansion of the construction industry and growth in demand for highly secure and safe wiring system. However, high installation cost of conduits and increase in prices of raw materials restrain the market growth. Furthermore, emerging trends of cable-in conduits system and increase in opportunities of plastic conduits in residential buildings provide lucrative opportunities for the market globally.
The global plastic conduit market is segmented on the basis of type, material, industry vertical, and region. Based on type, the market is bifurcated into rigid conduits and flexible conduits. By material, it is divided into polyvinyl chloride (PVC), high-density polyethylene (HDPE), polypropylene (PP), and others. On the basis of industry vertical, the market is divided into manufacturing, construction, IT & telecom, healthcare, and others. Based on region, it is analyzed across North America, Europe, Asia-Pacific, and LAMEA along with their prominent countries.
The key players profiled in the report include Atkore International, AKG Group, Cantex Inc., Duraline holdings Inc., Prime Conduit, Precision Plastic Industry, Mitsubishi Corporation, Eaton Corporation, Allied Tube & Conduit, and Calpipe Industries. These key players have adopted strategies, such as product portfolio expansion, mergers & acquisitions, agreements, geographical expansion, and collaborations, to enhance their market penetration.
KEY MARKET SEGMENTS
By Type
- Rigid Conduits
- Flexible Conduits
By Material
- Polyvinyl Chloride (PVC)
- High Density Polyethylene (HDPE)
- Polypropylene (PP)
- Others
By Industry Vertical
- Manufacturing
- Construction
- IT & Telecom
- Healthcare
- Others
By Region
- North America
o U.S.
o Canada
o Mexico
- Europe
o UK
o Germany
o France
o Russia
o Rest of Europe
- Asia-Pacific
o China
o India
o Japan
o South Korea
o Rest of Asia-Pacific
- LAMEA
o Latin America
o Middle East
o Africa
Key Market Players
-- Atkore International
-- AKG Group
-- Cantex Inc.
-- Duraline Holdings Inc.
-- Prime Conduit
-- Precision Plastic Industry
-- Mitsubishi Corporation
-- Eaton Corporation
-- Allied Tube & Conduit
-- Calpipe Industries
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