Segments - North America Electrical Conduits & Fitting Accessories Market By Materials (Metallic [Stainless Steel, Aluminum], Non- Metallic [PVC, HDPE, PP, Others] By Product Type (Electrical Conduits, Fittings, Flexible Conduits, Utility Boxes), By End-Use Industry (Building & Construction, Industrial Manufacturing, IT & Telecommunication, Oil & Gas, Energy & Utility, Others), and By Country (U.S., Canada) - North America Industry Analysis, Growth, Share, Size, Trends, and Forecast 2022 – 2030
The north america electrical conduits & fitting accessories market size was valued at USD 7,436.7 Mn in 2021 and is expected to reach USD 13,557.5 Mn in 2030, expanding at a CAGR of 6.6 % during the forecast period. The overall incremental opportunity is estimated to be USD 5,440.7 Mn from 2022 to 2030.
A piping system called an electrical conduit, is used to transport electrical wiring in residential, commercial, and industrial applications. Conduits are used to protect the encased wiring from corrosion, mechanical harm, and fire. They are available in different sizes with accessories such as junctions, clamps, bends, T- shapes, C-shapes, and L-shapes.
A tube-shaped device called an electrical conduit is used to organize and protect the overall electrical wiring in a building or other structures. The use of electrical conduits is increasing as a precaution against fire, electrical supply problems, and other operational hazards. Conduits are very resistant to corrosion, waterproof, do not support combustion, and can withstand fire. Metals, polymers, textiles, or burnt clays are used in their construction.
The two types of electrical conduits are metal electrical conducts and non-metal conducts.
Metal Electrical Conduits
Non-metal Electrical Conduits: Non-metallic conduit (NMC) is used for above-the-ground applications. This conduit needs to be robust, flame-resistant, and resistant to the effects of heat, sunshine, and low temperatures.
Different electrical conduit materials include metallic and non-metallic. They are used in various end-use industries such as building and construction, industrial manufacturing, IT & telecom, oil & gas, energy & utility, and others.
Rapid pace of Industrialization and Urbanization
Rapidly growing world population and economic development and surge in urbanization have significantly increased the demand for energy in the past years.
According to the World Bank, over 50% of the population lives in urban areas globally. The world's urban population is estimated to increase by 1.5 times to 6 billion by 2045. Expanding infrastructure and building & construction sectors are responsible for driving the demand for electrical conduit. High demand for electric cables from the infrastructure industry is driving up the usage of electrical conduits.
Rise in Demand for Electricity or Power Generation
The demand for electrical conduits is increasing, owing to their extensive use in power transmission. The growth of electricity consumption is attributed to increasing global energy production.
According to the International Energy Agency, the global electricity demand in 2021 increased by 4.5% or over 1,000 TWh. According to Canada's Upstream Oil & Natural Gas Industry, the global population is expected to grow by nearly two billion people over the next twenty years, and power generation is estimated to increase by 49% by 2040.
Increasing R&D Expenditure
Major manufacturers of electrical conduit pipes are increasing their Research & Development expenditure to produce high-resistance conduit pipes. Increasing Research & Development efforts through partnerships or collaborations helps businesses introduce cutting-edge products to the market.
Research & Development operations have to lead to competitive price offerings, improvements in end-user performance satisfaction, and the usage of cutting-edge technologies. Increasing demand for innovations in electrical conduits such as flexibility and assembly time are expected to fuel the market.
The MIG welding guns ensure consistent weld quality and reduce the likelihood of errors that can occur with manual welding processes. The increasing need for welding accuracy is expected to continue driving the growth of the robotic MIG welding guns market in the coming years, as Industries continue to demand high levels of precision and accuracy in welding operations.
Technological Advancements
Technological advancements are a key trend gaining popularity in the electric conduit market. Companies in the electric conduit market are continuously focusing on innovations for better and safer conduit systems.
The specially formulated PVC is made up of high-impact resistance materials, which makes them safe for use across diverse environmental conditions and meets the most stringent international standards. Technological advancements are necessary to reduce the problematic installations of electrical conduits which are hampering the growth of the electrical conduit.
The fluctuating prices of raw materials
Raw materials used for the production of electrical conduits are susceptible to volatile prices. Fluctuations in the prices affect the profit margin of manufacturers. Raw materials employed for electrical conduits include plastic, stainless steel, and aluminum.
The key factor causing fluctuations in the prices of raw materials includes volatility in the prices of energy and crude oil. Suppliers can raise the price of their goods or reduce their profit margins in response to rising raw material costs, which is likely to impede the market.
Problematic installation of electrical conduits
Problematic installations of electrical conduits are a major challenge for the electrical conduit market. The time required for installation is high and fault identification in the system is not easy. These difficulties are a major challenge.
Once electrical conduits are developed, the challenge is to identify defects and repair the wiring. Additionally, changing the position of switches is difficult, and managing additional connections in the future is a complicated process.
The report on The North America Electrical Conduits & Fitting Accessories Market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Attributes |
Details |
Report Title |
Electrical Conduits & Fitting Accessories Market– North America Industry Analysis, Size, Share, Growth, Trends, and Forecast |
Base Year |
2021 |
Historic Data |
2015–2020 |
Forecast Period |
2022–2030 |
Segmentation |
By Material (Metallic [Stainless Steel, Aluminum], Non- Metallic [PVC, HDPE, PP, Others] By Product Type (Electrical Conduits, Fittings, Flexible Conduits, Utility Boxes), By End-Use Industry (Building & Construction, Industrial Manufacturing, IT & Telecommunication, Oil & Gas, Energy & Utility, Others), |
Country Scope |
U.S, Canada |
Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Key Players Covered |
Atkore, Zekelman Industries, ABB, Nucor, JM Eagle, Inc, Dura-line (Orbia), IPEX (Aliaxis Group SA), Cantex Inc, Aegion Corporation, Electri-Flex Company |
The North America Electrical Conduits & Fitting Accessories Market is segmented based on Material, Product Type, End-Use Industry, and Country.
Based on material, the North America electrical conduits & fitting accessories market is segmented into metallic (stainless steel and aluminum), and non-metallic (PVC, HDPE, PP, and others).
The non-metallic conduits segment is projected to expand at a significant CAGR during the forecast period. Non-metallic conduits are rigid and flexible conduits. These conduits are lightweight, flexible, and simple to install.
Non-metallic conduit provides resistance to corrosion and effective protection against moisture infiltration. Non-metallic materials such as PVC, PP, and HDPE are utilized for electrical conduit.
Non-metallic conduits are flame retardant, durable, and resistant to the effects of heat, sunlight, and low temperatures if it is to be used above the ground.
Based on product type, the North America electrical conduits & fitting accessories market is segmented into electrical conduits, fittings, flexible conduits, and utility boxes.
The flexible conduits segment is projected to expand at a significant CAGR during the forecast period. Flexible electrical conduit is significantly simple to use as compared to rigid metal or plastic conduit, due to the absence of bend. The market share of the electrical conduit segment is expected to grow to its protective properties. Electrical conduits provide more protection than flexible conduits.
Based on the end-use industry, the North America electrical conduits & fitting accessories market is categorized as building & construction, industrial manufacturing, IT & telecommunications, oil & gas, energy & utility, and others.
The building & construction segment is projected to expand at a significant CAGR during the forecast period due to growing demand for safe and secure wiring systems in commercial and industrial applications. According to the American Institute of Architects (AIA) semi-annual study, the commercial building industry is expected to capture the majority of the benefits, and the growing demand for better infrastructure provides the opportunity for electrical conduit systems.
Based on the country, the North America electrical conduits & fitting accessories market is categorized as the U.S. and Canada.
The U.S. region is projected to expand at a significant CAGR during the forecast period, as there are many domestic and foreign manufacturers in the country, which has a highly fragmented market for metallic materials.
Canada is leading with the second-highest market share because of the rising costs of metallic materials for new homes and the construction of commercial structures, which creates the potential for the conduit fittings industry to expand.
Key players operating in the market Atkore, Zekelman Industries, ABB, Nucor, JM Eagle, Inc, Dura-line (Orbia), IPEX (Aliaxis Group SA), Cantex Inc, Aegion Corporation, Electri-Flex Company. These companies are considered key manufacturers of metal stamping based on their revenue, research development (R&D) activities, Gauge Type offerings, regional presence, and supply chain management system.
The players are adopting key strategies such as acquisition, collaborations, and geographical expansion where potential opportunities for the Electrical Conduits & Fitting Accessories Market.
Additional company profiles are provided on request. For a discussion related to the above findings, click Speak to Analyst
Factors such as competitive strength and market positioning are key areas considered while selecting top companies to be profiled.
The Electrical Conduits & Fitting Accessories Market is projected to expand at a rapid pace globally, owing to Increasing Demand for Environmental Monitoring and Compliance, Growing Industrial Applications, Rising Demand for Miniaturized RGAs, and Increasing Demand for Semiconductor and Electronic Products.
According to this Report, the Electrical Conduits & Fitting Accessories Market is expected to register a CAGR of XX% during the forecast period, 2015-2030, with an anticipated valuation of USD XX million by the end of 2030.
Building & Construction, Industrial Manufacturing, IT & Telecommunication, Oil & Gas, Energy & Utility, Others
Factors such as Construction Industry, Research & Development, GDP, Technological Advancements, and Energy Industry.
Major players include Atkore, Zekelman Industries, ABB, Nucor, JM Eagle, Inc, Dura-line (Orbia), IPEX (Aliaxis Group SA), Cantex Inc, Aegion Corporation, Electri-Flex Company
The base year considered for The North America Electrical Conduits & Fitting Accessories Market report is 2021. The complete analysis period is 2015 to 2030, wherein, 2015 and 2020 are the historic years, and the forecast is provided from 2022 to 2030.