Choc-o-bloc with both regional and international players, the global cable conduit systems market is comprised of both organized and unorganized segments. This makes the competition stiff in the overall market. To stay afloat and thrive in such an environment, keen players are seen betting big on product development and mergers and acquisitions. In this manner they are banking upon both organic and inorganic routes to expand their outreach.
Some of the key players in the global cable conduit systems market are Atkore International, Inc., Thomas & Betts Corporation, and Eaton Corporation Plc.
The global market for cable conduit systems was worth US$3.2 bn in 2014 and will likely attain a value of US$7.4 bn by 2022-end, by clocking an 11.0% CAGR between 2015 and 2022. The figures have been arrived at after a thorough research by our team of expert analysts at Transparency Market Research for a recent report.
Energy and utility, IT and telecommunications, transportation, industrial manufacturing, healthcare, residential construction, and commercial construction, among others, are some of the key end-use industries in the global cable conduit systems market. Among them, the segment of industrial manufacturing accounted for a leading share of 28.7% in 2014.
From a geographical standpoint, North America accounted for a dominant share of 35.6% in the global cable conduit market in 2014. The region is mainly powered by the U.S. which has stringent rules enforcing the usage of conduit systems installations, especially in the industrial manufacturing sector. Apart from that, the residential and construction projects too are solid contributors to the cable conduit systems market in North America.
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Flourishing End-use Segments Benefit Market
At the forefront of driving the market for cable conduit systems is the food and beverages, metal and mining, and oil and gas industries. Healthcare is another sector that is driving up demand along with the construction sector. Their demand is set to receive a further boost on account of the usage of advanced composites in their manufacture. “Materials, namely fiberglass and other composites are being increasingly preferred by several end users in the market, which is upping opportunities for savvy players in the market,” adds the lead author of the TMR study.
Unstable Raw Material Prices Pose Challenge to Market Growth
The growth in the market for cable conduit systems, however, is also being hampered by a number of factors. One of them is the volatility in prices of raw materials, which include steel, metals, and plastics. Ultra-competitive pricing due to cutthroat competition in the market is also dealing a blow to its overall revenue generation.
However, the growing use of advanced composites in the manufacture of cable conduit systems is likely to improve the demand for them over the coming years, predicts the report. It finds that the swift pace of urbanization and infrastructure building in developing nations will continue majorly underpinning demand. Apart from that, continued focus on product development by astute players keeping in mind end use segments of oil and gas, industrial manufacturing, and food and beverages will help the market pull in healthy revenues.