LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global cable conduit systems market to grow at a CAGR of over 11% during the forecast period, according to their latest report.
The market study covers the present scenario and growth prospects of the global cable conduit systems market for 2017-2021. The report also lists rigid metallic, rigid non-metallic, flexible metallic, and flexible non-metallic as the four major product segments for cable conduit systems.
According to Sayani Roy, a lead analyst at Technavio for engineering tools research, “The growing demand for high-degree of wiring protection, particularly in sectors with high regulatory requirements, such as industrial manufacturing, commercial construction, and healthcare sectors is expected to result in a surge in demand for cable conduit systems.”
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Technavio heavy industry analysts highlight the following three drivers that are contributing to the growth of the global cable conduit systems market:
- Expansion of construction industry
- Demand for increased safety and protection of wiring
- Demand for frequently alterable wiring systems
Expansion of construction industry
The cable conduit market has registered a steady growth predominantly owing to the continued development of the construction industry, particularly in emerging countries. As per Technavio estimates, the construction industry will generate USD 800 million of revenue for the cable conduit systems during the forecast period. The high demand for better infrastructure provides opportunities for cable conduit systems. Technavio estimates the global construction industry to grow at a higher rate as compared to the global GDP during the forecast period, driven by the recovery of developed countries from economic instability and rapid industrialization of emerging countries.
“Much of the construction growth is expected to be derived from the US, China, and India. The construction industry in emerging markets is expected to experience ten times higher growth rate as compared to the global market,” says Sayani.
Demand for increased safety and protection of wiring
There is a growing demand for safer and more secure wiring systems in commercial and industrial applications. The rise in regulations about electrical safety and standards, particularly in advanced economies, mandates the use of safe cable management systems. Conduits represent the safest wiring system. They protect the internal wiring from moisture, chemical vapors, and from further impact. They provide insulation from accidental damage as well.
Flexible conduits can be liquid-tight, thus making them waterproof or submersible. Metal conduits can shield sensitive circuits from electromagnetic interference and prevent the emission of such interference from enclosed power cables. They can provide protection from fire, explosion hazards, and other hazardous chemicals. Non-metallic conduits like PVC conduits can be directly encased in concrete, forming concealed conduit wiring, thereby allowing cables to be easily pulled into areas that are to become inaccessible in the future. There are halogen-free and green conduit system conduits in the market that can be safely installed in food and healthcare facilities.
Demand for frequently alterable wiring systems
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, where multiple runs of cable or customized composite cable systems are required. Recurrent wiring changes in buildings are made simpler and safer with flexible cable conduits, as existing conductors can be easily withdrawn and new conductors installed, with little disruption along the path of the conduit and low additional costs involved.
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