The global sales of electrical conduit pipes reached ~ 26,400 thousand tons in 2018, unveils the new research report on the electrical conduit pipe market by Persistence Market Research (PMR). According to the electrical conduit pipe market report, the electrical conduit pipe market is estimated to grow by ~ 5% CAGR in 2029, primarily influenced by the recent government investment on the smart grid project.
According to the report, increasing electricity consumption in the rural area is anticipated to drive demand for the electricity production, which is expected to positively drive the electrical conduit pipe market. Furthermore, increasing usage of modern electric appliances in rural areas will contribute to the build-up of the electrical conduit pipe market through to 2029. The global electrical conduit pipe market reflected a value of ~US$ 26 Bn in 2018, and is projected to reach a market valuation of ~US$ 43 Bn by the end of the 2029.
Plastic Electrical Conduit Pipe Captures Significant Share
Plastic has high anti-corrosion, light-weight, dialectical strength, and UV stabilization properties, thereby gaining high demand in the electrical conduit pipe market. Use of plastic as a raw material in electric conduit pipes is expected to be highly profitable, owing to its several credible properties and cost-effectiveness. On the other hand, metal is projected to have slow adoption as compared plastic during the forecast period.
As per the PMR study, prominent players in the electrical conduit pipe market are offering wide range of products with advanced characteristic properties, such as enhanced strength and stiffness. These properties serve applications such as commercial refrigeration, secondary cooling of food production, and central plant HVAC systems, among others. Some of the products include steel reinforced polyethylene pipes and corrugated double wall pipes.
The demand for metal pipes is projected to rise over the forecast period as manufacturers are preferring environmental-friendly material type, which is more resistant to the external damage.
By application type, the IT & telecommunication sector of the electrical conduit pipe market is expected to be prominent in the global electrical conduit pipe market over the forecast period. Electrical conduit pipes function as a medium of transmission for telecommunication and electricity over long distances. Owing to several external factors such as salt concentration and oxygen concentration, conduit pipes are susceptible to corrosion over time. Therefore, the IT & telecommunication sector is estimated to grow at a CAGR of ~5% and projected to reach at ~US$ 17,000 Mn by the end of 2029.
Telecommunication Operations by Several End-use Industries in Asia Pacific is Expected to Create Growth Opportunities
The telecommunication industry is growing at a significant rate in the Asia Pacific region. Owing to the increasing utilization of conduit pipes to ensure safety of telecommunication wires, such as optical fiber cables under sea, and the growing telecommunication industry, are expected to directly impact the growth of the electrical conduit pipe market. These factors are significant drivers responsible for boosting the demand for electrical conduit pipes in the global market. According to the IBEF (India Brand Equity Foundation), India is estimated to be the world’s 2nd largest telecommunication market. This factor propels the demand for electrical conduit pipes for long distance cabling of telecommunication operations in the region. Several telecommunication companies are expanding their fiber cable network, which is anticipated to create a positive impact on the growth of the electrical conduit pipe market.
Electrical Conduit Pipe Market: Vendor Insights
PMR’s business analysis also highlights pioneering insights into the competitive scenario of the electrical conduit pipe market and differential strategies of prominent market players. Some key players in the market are JM Eagle, Inc., Aliaxis SA, Mexichem SAB de CV, and China Lesso Group Holdings Ltd., among others. Furthermore, several prominent players of the electrical conduit pipe market are adopting strategies, such as collaborations, joint ventures, and acquisitions to establish their distribution and sales network across the globe. For instance, in 2019, Aliaxis SA, manufacturer and distributor of advanced plastic piping systems, acquired Silver-Line Plastics, which is a U.S.-based plastic pipe products manufacturing company.
This study highlights key opportunities in the electrical conduit pipe market and discovers that the market would exhibit growth at a value CAGR of ~5% during the forecast period. For in-depth information about the electrical conduit pipe market, write in to the analyst at email@example.com