The North America Cable Conduit Systems Market would witness market growth of 6.4% CAGR during the forecast period (2021-2027).
The demand for conduit systems would rise due to the increased efforts to reduce fire, health, electrical supply problems, and other operational risks, as well as favorable legislative reforms pertaining to the upgrading of standardized product requirements. A favorable business scenario will be created by the lack of effective electrical infrastructure in developing countries and the continuing retrofit of existing electric networks in industrialized countries. Moreover, increasing R&D investments from prominent participants to expand and develop the product portfolio with the goal of incorporating a versatile technical platform would also be a game-changer for the industry.
As smart grid networks infiltrate industrial peripherals, infrastructure restructuring will necessitate safe and secure operations, fueling the growth of the cable conduit market. In addition, these products enhance the aesthetics of the inside environment in both commercial and residential institutions, resulting in increased product demand. Moreover, the market is expected to be driven by the optimistic consumer and installer attitudes regarding safe and secure energy supply bolstered by aesthetic closeness.
According to the American Institute of Architects’ semi-annual study, the commercial building will account for the majority of the demand for cable conduit systems while the increased need for better infrastructure presents the potential for cable conduit systems.
In addition, as technology advances, IoT-ready commercial building design is becoming more prevalent in the region. A backhaul fiber network is frequently required for IoT networks. Wired connections would be required depending on the extent of the operation and the data generated. The usage of conduit systems installations is required by law in the country, especially in the industrial manufacturing sector. Global energy demand is expected to rise to 736 quadrillion Btu by 2040, according to the US Energy Information Administration. Hence, these aspects are anticipated to open new growth avenues for the players operating in the regional cable conduit systems market during the forecasting period.
The US market dominated the North America Cable Conduit Systems Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $2,281.2 million by 2027. The Canada market is estimated to grow at a CAGR of 8.8% during (2021 - 2027). Additionally, The Mexico market would exhibit a CAGR of 7.9% during (2021 - 2027).
Based on Type, the market is segmented into Rigid and Flexible. Based on End User, the market is segmented into IT & Telecommunication, Energy, Healthcare, Manufacturing, Commercial Construction and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Cable Conduit Systems Market is Estimated to reach $9.1 Billion by 2027, at a CAGR of 6.9%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Eaton Corporation PLC, Hubbell Incorporated, Legrand S.A., Schneider Electric SE, ABB Group, Atkore, Inc., Igus GmbH, S&C Electric Company, Champion Fiberglass, Inc., and Dura Line ltd. (Orbia Advance Corporation, S.A.B. de C.V.)
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Companies Profiled
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