Cable Duct Market to Reach $13.3 Billion, Globally, by 2032 at 7.8% CAGR: Allied Market Research
The cable duct market is driven by factors such as the increasing demand for power and communication infrastructure, rising demand for high-speed internet, and surge in Infrastructure development initiatives by governments.
Portland, OR, June 13, 2023 (GLOBE NEWSWIRE) — Allied Market Research published a report, titled, “Cable Duct Market, Type (Flexible Cable Duct and Rigid Cable Duct), Material (PVC Cable Duct, Polyethylene Cable Duct, Fiberglass Cable Duct, and Others), and End-Use Industry (IT and Telecommunications, Energy and Utility, Automotive, Industrial Manufacturing, and Others): Global Opportunity Analysis and Industry Forecast, 2023–2032”. According to the report, the global cable duct industry generated $6.2 billion in 2022 and is projected to reach $13.3 million by 2032, registering a CAGR of 7.8% from 2023 to 2032.
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Prime determinants of growth
The cable duct market is driven by factors such as the growing demand for power and communication infrastructure, rising demand for high-speed internet, and the infrastructure development initiatives by governments. Additionally, during the forecast period, the cable duct market is anticipated to benefit from growing demand for smart homes and buildings. On the other hand, the growth of the cable duct market is expected to be restrained by the high installation and maintenance costs.
Report Coverage & Details:
|Market Size in 2021||$6.2 billion|
|Market Size in 2031||$13.3 billion|
|No. of Pages in Report||382|
|Segments covered||Product Type, Material, Application, End Use Industry, and Region.|
|Drivers||Surge in demand for power and communication infrastructure. Rising demand for high-speed internet. Infrastructure development initiatives by governments.|
|Opportunities||Growing demand for smart homes and buildings.|
|Restraints||High initial installation and maintenance.|
- The cable duct market witnessed a varied impact during the COVID-19 pandemic, encompassing both detrimental consequences stemming from supply chain disruptions and reduced demand, as well as advantageous outcomes attributed to the heightened consumer interest in home automation systems and the surge in online sales.
- The pandemic-induced alterations in consumer behavior, marked by an increased desire for home automation systems amidst prolonged periods spent at home, presented cable duct manufacturers with novel prospects to cater to the demand for associated components such as switches, while concurrently navigating the challenges posed by supply chain constraints and fluctuations in market dynamic.
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The flexible cable duct segment to maintain its leadership status throughout the forecast period
Based on product type, the flexible cable duct segment held the highest market share in 2022, accounting for nearly three-fifths of the global cable duct market revenue, and is estimated to maintain its leadership status throughout the forecast period.This segment is projected to manifest the highest CAGR of 8.8% from 2023 to 2032, due to its versatility and ability to meet the diverse needs of various industries and applications.
The PVC cable duct segment to maintain its leadership status throughout the forecast period
Based on material, the PVC cable duct segment held the highest market share in 2022, accounting for nearly half of the global cable duct Market revenue and is estimated to maintain its leadership status throughout the forecast period. In addition, the polyethylene cable duct segment is projected to grow with the highest CARG of 8.8% from 2023 to 2032. Due to increasing demand for durable and cost-effective cable management solutions, the rising adoption of polyethylene it is a preferred material for its flexibility, corrosion resistance, and ease of installation.
The IT and telecommunication segment to maintain its leadership status throughout the forecast period.
Based on end-use industry, the IT and telecommunication segment held the highest market share in 2022, accounting for more than two-fifths of the global cable duct market revenue, and is estimated to maintain its leadership status throughout the forecast period. Moreover, the energy and utility segment is projected to manifest the highest CAGR of 8.9% from 2023 to 2032, owing to the increasing investment in renewable energy and smart grid solutions is further contributing to the growth of the cable duct market.
Asia-Pacific to maintain its dominance by 2032.
Based on region, Asia-Pacific held the highest market share in terms of revenue in 2022, accounting for more than one-third of the global cable duct market revenue. This region is expected to witness the fastest CAGR of 8.7% from 2023 to 2032 and is likely to dominate the market during the forecast period, driven by the growing trend towards digitalization and automation across various industries, including manufacturing, telecommunications, and healthcare, is expected to increase the demand for cable ducts.
Leading Market Players: –
- Legrand SA
- Schneider Electric SE
- Atkore International Group Inc.
- ABB Ltd.
- Panduit Corporation
- HellermannTyton Group PLC
- CommScope Holding Company, Inc.
- TE Connectivity Ltd.
- Leviton Manufacturing Co. Inc.
- Eaton Corporation
The report provides a detailed analysis of these key players of the global cable duct market. These players have adopted different strategies such as product launch, acquisition, partnership, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario
Want to Access the Statistical Data and Graphs, Key Players Strategies: https://www.alliedmarketresearch.com/cable-duct-market/purchase-options
Key Benefits for Stakeholders
- This study comprises an analytical depiction of the market size along with the current trends and future estimations to depict the imminent investment pockets.
- The overall cable duct market analysis is determined to understand the profitable trends to gain a stronger foothold.
- The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis.
- The current global cable duct market forecast is quantitatively analyzed from 2021 to 2031 to benchmark financial competency.
- Porter’s five forces analysis illustrates the potency of the buyers and suppliers in the cable duct market.
- The report includes the market share of key vendors and global cable duct market trends.
Cable Duct Market Key Segments:
By Product Type
- Rigid cable duct
- Flexible cable duct
- PVC cable duct
- Polyethylene cable duct
- Fiberglass cable duct
By End Use Industry
- IT and Telecommunication
- Energy and Utility
- Industrial Manufacturing
- North America (U.S., Canada, Mexico)
- Europe (UK, Germany, France, Rest of Europe)
- Asia-Pacific (China, Japan, India, South Korea, Rest of Asia-Pacific)
- LAMEA (Latin America, Middle East, Africa)
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