According to a new report, published by KBV research, The Global Cable Conduit Systems Market size is expected to reach $9.1 billion by 2027, rising at a market growth of 6.9% CAGR during the forecast period.
The Flexible market is showcasing a CAGR of 8.8% during (2021 - 2027). This is because it provides a number of benefits over rigid cable conduit systems, including ease of installation, minimal maintenance costs, and excellent damage resistance. The flexible cable conduit system is mostly employed in applications where a cable's direction must be changed. Moreover, the Flexible Cable Conduit System is a form of cable conduit that provides more flexibility than rigid cable conduit systems.
The IT & Telecommunication segment has acquired maximum revenue share in the Global Cable Conduit Systems Market by End User 2020, thereby, achieving a market value of $2.8 billion by 2027. This is because cable conduit systems are critical in the IT and telecommunications industries. Cable conduits are used to protect, organize, and clean cables. Inside the cable ducts or tubes, no space is left unused by cables due to the meticulous installation process. As a result, good cabling system management allows a company to save a significant amount of money that otherwise would have been spent on fixing old and worn-out wires.
North America is the fastest grow region in the Global Cable Conduit Systems Market by Region 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $3.1 billion by 2027. The Europe market is estimated to witness a CAGR of 6.5% during (2021 - 2027). Additionally, The Asia Pacific market would exhibit a CAGR of 7.5% during (2021 - 2027).
Full Report: https://www.kbvresearch.com/cable-conduit-systems-market/
The market research report has exhaustive quantitative insights providing a clear picture of the market potential in various segments across the globe with country wise analysis in each discussed region. The key impacting factors of the market have been discussed in the report with the elaborated company profiles of 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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