Global Electrical Conduit Market

The electrical conduit market size was valued at USD 6.2 Billion in 2020 and projected to reach USD 9.8 Billion by 2027, growing at a CAGR of 7.1% during the forecast period, 2021-2027. The rapid growth in residential and commercial construction and growing awareness towards effective electrical infrastructure have increased the demand for electrical conduits across the globe. Moreover, the growing concerns and stringent government regulations towards public and environmental safety have accelerated the global electric conduits market growth.

What is Electrical Conduit?

An electric conduit is a tube generally made up of metallic and non-metallic materials used for the protection and routing of electrical wiring in a commercial building or structure. It is used to protect electrical wires, cables, and data links from heat, tensile and pressure stress, and other environmental conditions, including moisture, electromagnetic interference and others. There are various types of electrical conduits available, which include Rigid Metal Conduit (RMC), Intermediate Metal Conduit (IMC), Electrical Metallic Tubing (EMT), Electric Non-metallic Tubing (ENT), Flexible Metal Conduit (FMC), Liquid-Tight Flexible Metal Conduit (LFMC), and Rigid Polyvinyl Chloride (Rigid PVC).

Growth Driver

High demand for Electrical Conduits in residential and commercial buildings

The growing adoption of electrical conduits in residential and commercial buildings to build an effective electrical infrastructure are the primary factors, making the growth of electric conduit market across the globe. The growing safety concern towards electrical infrastructure during large commercial and residential buildings due to increasing fire incidences, electrical faults, and other operational hazards are major factors driving the demand for electrical conduits. Furthermore, the rapid increase in the demand for electricity or power generation among emerging countries also supports the growth of the global electrical conduit market. Furthermore, the rapid expansion in the transmission and distribution of electricity grids globally will boost the growth of the electric conduits market in the coming years.

Restraints

The variation in the price of raw materials is expected to restraint the growth of the global electrical conduits market across the globe. The growing concern towards plastics and other harmful materials has disrupted the manufacturing and the cost of raw materials, which is also expected to significantly impact the growth of the electrical conduits during the forecast period.

Opportunities

A surge in demand for Electrical Conduits for power generation

The rapid urbanization and industrialization have increased the growth of power/electricity industries among developing and developed economies worldwide, which has created several opportunities for the growth of the electrical conduits market during the forecast period. Electrical conduits provide better safety and add to the aesthetic feature of the internal environment among residential and commercial buildings. Moreover, the high investments in R&D from key manufacturers to expand the product portfolio with enhanced features will increase the growth of the electrical conduits market.

Furthermore, the rapid increase in the population has surged the demand for electricity resulting in the high government spending on power supply projects among developing countries like India and China. Furthermore, the demand for electricity supply is expected to grow 6% in 2021-22 from previous years, resulting in the huge investment in the power generation industries, which are the primary factors driving the global electrical conduit market.

Pre Covid-19 impact on global Electrical Conduit market

The rapid growth in the construction and manufacturing industries has stimulated the growth of the global electrical conduit market across the globe. The high investment in power distribution projects and the growing telecommunication industry are the major factors driving the growth of the global electrical conduit market. Furthermore, the rapid rise in the agriculture and mining sectors has increased electricity consumption, which has further created several opportunities for the growth of the electric conduit market. With growing concerns towards human and wildlife safety, various government departments and the leading players have highly invested in covering underground and aboveground electrical cables. These are the primary factors making the growth of the global electrical conduit market during the forecast period.

Covid-19 impact on global Electrical Conduit market

The COVID-19 pandemic has severely hit the growth of the electrical conduit market in 2020 across the globe. The pandemic has severely affected every business segment due to various government norms such as nationwide lockdown and complete shutdown of manufacturing facilities across the globe. Furthermore, the complete shutdown of construction and industrial activities has slowed down the demand for electrical conduits. The interruption in the supply chain of raw materials and non-availability of the workforce has halted the ongoing power distribution projects in developing and developed countries which have significantly impacted the growth of the electric conduit market.

Moreover, the electrical conduit market is expected to recover due to a significant increase in the global construction and power distribution industry. The growing concerns towards developing healthcare infrastructure and growing digitalization among various industry verticals due to safety concerns are expected to escalate the growth of the electrical conduit market during the forecast period.

Post Covid-19 impact on global Electrical Conduit market

The rapid growth in the construction of residential and commercial buildings has increased the demand for electrical conduits. The growing government spending in power generation industries and high spending in the construction of hospitals and hotels will also increase the growth of the electrical conduit market during the forecast period. Rising household income, electrification of transport and heat, and growing demand for digitally connected devices have increased the electricity demand globally. Furthermore, the rapid adoption of digitalization among manufacturing and industrial industries has increased the demand for electric wiring or cables. The high investment in the IT and telecommunications industry and high demands for effective and flexible electrical conduits in marine industries will increase the demand for electrical conduits.

Type Segmental Analysis

Based on the Type, the global electrical conduit market is segmented into Rigid and Flexible. The flexible segment accounts for the largest market in 2020 and is expected to continue this trend during the forecast period. Flexible electrical conduits are lightweight, easy to install, and less expensive than other rigid electrical conduits. Flexible electric conduits can be manufactured from plastic and metals and find wide application in every wall structure in residential and commercial buildings. Furthermore, the growing investment of leading manufacturers in R&D has enhanced their product portfolio and introduced various flexible electrical conduits that provide safety and add aesthetics to the internal environment of residential and commercial buildings, which will drive the overall growth of the global electrical conduits market.

Material Segmental Analysis

The global electrical conduit market is categorized into Metallic (stainless steel, aluminum, and others), and Non-metallic (high-density polyethylene (HDPE), polyvinyl chloride (PVC), polypropylene (PP), and others). Non-metallic segment such as (HDPE, PVC, and PP) is expected to have the largest market share during the forecast period. The non-metallic electric conduits are easy to install, lightweight, and available for flexible and rigid types. These electric conduits find more application due to their resistant-free properties and provide good protection against moisture in various environmental conditions.

End-User Industry Segmental Analysis     

Based on the end-user, the global electrical conduit market is segregated into Residential, Commercial, Manufacturing, IT and Telecommunications, Energy and Utility, Oil and Gas, Healthcare, Marine, and Others. The residential and commercial building construction is expected to have the largest market share during the forecast period. The growing concern towards safety and effective electrical infrastructure among large buildings has increased the demand for electrical conduits in the construction industry. Furthermore, the manufacturing segment is also expected to grow significantly in the coming years due to the increased consumption of electricity among various manufacturing industries and growing concerns towards worker safety. 

Region Segmental Analysis

The Electrical Conduit market is categorized into North America, Europe, Asia Pacific, South America, and Middle East & Africa. The Asia Pacific is likely to grow at the highest CAGR during the forecast period. The growing industrialization and increasing population have increased the construction of residential and commercial buildings, including shopping malls, hotels, and hospitals, increasing the demand for electric conduits in the region. Growing manufacturing, oil and gas, and IT and telecommunication industries have increased the demand for electrical conduits in developing countries like India and China. Furthermore, the market is expected to grow significantly in countries like China and India due to the secure availability of raw materials, low labor costs, and growing power distribution projects in the region.

Competitor Analysis

Companies include Schneider Electric SE., Hubbell Incorporated, Legrand S.A, ABB, Hellermann Tyton, Sekisui Chemical Co., Ltd, Atkore International Group Inc, Champion Fiberglass, Electric-Flex, Wienerberger, ANAMET, and Cantex are the key players in the Electrical Conduit market.

Key Stakeholders

• Market research and consulting firms
• Industry associations

• Global Electrical Conduit manufacturing firm

• Local Governments
• Regulatory bodies

• Suppliers
• Retailers

Recent Developments

• In May 2021, Electric-Flex has launched a new antimicrobial food-grade white paper featuring Liquatite^R flexible electrical conduits for food processing, pharmaceutical, and bottling equipment installation. These electrical conduits are designed to work on a wide range of temperatures, antimicrobial jacketing, and additional wear resilience.
• In February 2021, Atkore International Group has acquired FRE Composites Group, a leading manufacturer of fiberglass conduit solutions. This acquisition will help expand the company’s product portfolio for the electrical, transportation, telecommunication, and infrastructure market.
• In October 2020, Electric-Flex launched a “Heavy-Duty” flexible conduit, Liquatite^R types LA, ZHLA, CBLA, and CSA.