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Global Electrical Conduit Market Industry Analysis, Size, Share, Growth, Trends and Forecast, 2024

Author : Rahul Sankrityayan | Published Date : 2019-08-05 

The study on the 'Electrical Conduit Market' by Global Market Insights, LLC, introduce a systematic details in terms of market valuation, market size, revenue estimation, and geographical spectrum of the business vertical. The study also offers a precise analysis of the key challenges and growth prospects awaiting key players of the Electrical Conduit Market, including a concise summary of their corporate strategies and competitive setting.

The global electrical conduit market, in the past few years, has witnessed a remarkable escalation in terms of revenue share owing to the extensive revamp of ageing grid infrastructure across developed and emerging economies. Increasing emphasis on installing energy-efficient distribution networks and the integration of varied frequency transmission networks have been instrumental in stimulating the growth prospects of electrical conduit industry, which commanded a total valuation of over USD 5 billion in 2017.

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Sensing the dire need to install sustainable grid networks, government and private institutions have been investing heavily in electrification programs – a factor that has further intensified the pace of industry share expansion. In addition to this, the deployment of smart control networking technologies along with improved on-site electricity generation schemes have drastically enhanced the product demand across various residential and commercial applications. In fact, as per a research report compiled by Global Market Insights, Inc., the residential and commercial applications together accounted for more than 50 percent of the worldwide electrical conduit industry share in the year 2017. A favorable regulatory framework across various geographies is expected to assist the residential and commercial applications segment to keep up the pace of growth in the near future.

A brief overview of how developing nations in APAC have impelled electrical conduit market trends

Growing inclination toward clean energy coupled with massive investments in the renewable sector have necessitated a complete overhaul of the existing grid infrastructure across major economies. In this regard, Asian countries have taken the lead in reforming their respective power sectors by launching a number of effective programs, essentially stepping up the commercialization potential of electrical conduit industry in the region. Moreover, various new initiatives are being rolled out to electrify far-off areas and rural hinterlands in the emerging countries of Asia Pacific.

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India

With the resolve to provide energy access to un-electrified rural and urban households, the Indian Government launched Pradhan Mantri Sahaj Bijli Har Ghar Yojana ‘Saubhagya’ in 2017. The ambitious scheme aims to attain the objective of universal household electrification throughout the nation, especially the underserved and unserved rural and urban pockets. With a total outlay of INR 16, 320 crores, the initiative intends to electrify nearly 300 lakh households across India.

The state-owned power distribution companies (DISCOMs) in the nation are known to be financially distressed for years. This has reduced the overall operational efficiency and aggravated the crisis of power losses in the distribution network. To tackle these challenges and work toward financial and operational turnaround of DISCOMs, the Indian Government had unveiled the Ujwal DISCOM Assurance Yojana (UDAY) in 2015. Needless to mention, such reformative programs aimed at changing the power scenario in the nation have propelled the regional electrical conduit industry in the recent times.

China

Given that the smart grid networks are increasingly gaining prominence across industrial peripherals, China has proposed humongous projects to modernize its energy infrastructure. As per its three-stage plan, the Asian powerhouse had announced that it would invest USD 240 billion between 2016 and 2020 to incorporate smart grid technologies. As the world’s largest electricity consumer, the three-stage plan would assist the nation in meeting its escalating electricity demand which is anticipated to double over the upcoming decade. Moreover, the Chinese government has been focusing on revamping the power distribution infrastructure across major industrials regions which would fuel the growth potential of electrical conduit industry in the country.

Concurrently, the leading companies manufacturing electrical conduits such as Zekelman, ANAMET, Cantex, Wienerberger, Electri-Flex, Champion Fiberglass, Mexichem, Legrand, Hellermann Tyton, Atkore, Astral, Aliaxis, Hubbell, Schneider, and ABB have been concentrating on developing products equipped with highly-efficient technologies and expanding the current facilities to ensure economies of scale, essentially boosting the revenue graph of electrical conduit market.

About Author

Rahul Sankrityayan

Rahul Sankrityayan

Fortified with a post-graduate degree in Computer Applications, Rahul Sankrityan writes for Fractovia, where he pens down news and articles spanning across segments of technology industry that excite him on a day-to-day basis. Rahul comes with a rich experience in technical field as well as writing. He can be contacted at- [email protected] | https://twitter.com/sankritsays

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