December 06, 2022 07:47 ET | Source: Zion Market Research Zion Market Research
Washington, DC, Dec. 06, 2022 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Plastic Conduit Market By Type (Rigid Conduit And Flexible Conduit), Material (Polyvinyl Chloride, High-Density Polyethylene, Polypropylene, And Others), By Industry Vertical (Manufacturing, Construction, IT & Telecom, Healthcare, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” in its research database. Corrugated Pipe Machine
“According to the latest research study, the demand of global Plastic Conduit Market size & share in terms of revenue was valued at USD 18.75 billion in 2021 and it is expected to surpass around USD 30.01 billion mark by 2030, growing at a compound annual growth rate (CAGR) of approximately 5.7% during the forecast period 2022 to 2030.”
What is/are Plastic Conduit? How big is the Plastic Conduit Industry?
Plastic Conduit Report Coverage & Overview:
Plastic conduit is manufactured from durable PVC and is utilized for routing and protecting electric wiring and cables. Moreover, plastic conduits find a plethora of applications in various industry verticals such as IT & telecommunications, manufacturing, and construction. Apart from this, plastic conduits are also used prominently in the residential and commercial sectors. In addition, plastic conduits offer extreme durability and can be recycled. They are lightweight, resistant to rust, combustion, and chemicals, and easily deployable. The large-scale demand for plastic conduits for transporting drinking water and broadband has enhanced its penetration into public utilities.
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Global Plastic Conduit Market: Growth Dynamics
The global plastic conduit market is projected to expand notably over the forecast period owing to humungous demand for highly secured and safe wiring systems. Apart from this, plastic conduit provides a slew of benefits that include protection of electric cables against extreme temperatures and moisture resistance. In addition, escalating plastic conduits utilization in commercial and residential spaces & constructions in emerging economies such as China and India will boost the global market growth trends. With firms practicing economies of scale in their production of plastic conduit, the market for plastic conduit is predicted to expand leaps & bounds over the years ahead.
High costs of deploying plastic conduits and a prominent surge in raw material costs will inhibit the growth of the global plastic conduit market. Nevertheless, the growing demand for cable-in conduit systems and plastic conduits across the residential sector will open new opportunities for growth in the global market.
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Plastic Conduit Market: Segmentation Analysis
The global plastic conduit market is segmented based on type, material, industry, and region.
Based on type, the global market segments are rigid conduit and flexible conduit. In 2021, the flexible conduit segment dominated the global market share and is predicted to continue its domination even in the upcoming years. The growth of the segment during the forecast period can be attributed to an increase in demand for flexible conduits for installing cables and wires.
In terms of material, the global market segments include polyvinyl chloride, polypropylene, high-density polyethylene, and others. In 2021, the high-density polyethylene segment led the global market growth due to the large-scale use of high-density polyethylene in telecommunication cables and electrical power protection wires.
The global Plastic Conduit market is segmented as follows:
Browse the full “Plastic Conduit Market By Type (Rigid Conduit And Flexible Conduit), Material (Polyvinyl Chloride, High-Density Polyethylene, Polypropylene, And Others), By Industry Vertical (Manufacturing, Construction, IT & Telecom, Healthcare, And Others), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2030” Report at https://www.zionmarketresearch.com/report/plastic-conduit-market
Some of the main competitors dominating the global Plastic Conduit market include -
Key Insights from Primary Research:
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North America contributed a major share of the global plastic conduit market owing to escalating demand for the product as a replacement for conventional electrical devices. Apart from this, the presence of strong infrastructure has led to a huge preference for plastic conduits in the region, thereby driving regional market trends. However, the Asia-Pacific plastic conduit industry is anticipated to register the fastest CAGR of about 7.5% during the forecast timeframe. The growth of the regional market over the assessment timeline can be credited to the massive demand for plastic conduits in countries such as Japan and China.
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1- Which key factors will influence plastic conduit market growth over 2022-2030?
An electrical conduit is an electrical piping solution widely adopted in the protection of electric wiring. However, it is widely used for protecting cables against pressure stress, tensile stress, cold, and heat in the electrical and mechanical engineering industry. Manufacturers offer different types of conduits for a wide range of applications with different tech requirements.
2- What will be the value of the plastic conduit market during 2022-2030?
The global plastic conduit market was valued at $18.75 billion in 2021 and is anticipated to reach 30.01 billion by the end of 2030. The market is projected to grow with a healthy CAGR of 5.7% during the forecast period.
3- Which are the key major players in plastic conduit market growth?
Some of the significant players in the global plastic conduit market include Zekelman Industries Inc., Orbia Advance Corporation SAB de CV, Sanco Industries Ltd., Atkore International Group Inc., International Metal Hose Company, China Lesso Group Holdings Limited, Premier Conduit Inc., Pipelife International GmbH, D.P. Jindal Group, Nan Ya Plastics Corporation, Astral Polytechnik Limited, and National Pipe & Plastics, Inc.
4- Which region will contribute notably towards the plastic conduit market value?
North America accounts for the largest share in the global plastic conduit market, with the growing demand to replace the traditional electrical equipment in the region with a high-quality system. Furthermore, the growing construction activities in the region will further contribute towards the growth of the regional market.
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