Home > Energy & Power > Wire and Cable > Power Cable > Commercial Flexible Metallic Tubing Market
Commercial Flexible Metallic Tubing Market was valued at USD 136.4 million in 2023 and is expected to grow at a CAGR of 8.9% from 2024 to 2032, due to the rising demand for durable and flexible tubing in commercial settings. This demand is supported by advancements in material technology and a greater focus on efficient HVAC systems.
According to the U.S. Department of Energy, HVAC systems account for about 40% of the energy used in commercial buildings, highlighting the need for efficient solutions. Additionally, as commercial construction activities increase and energy efficiency becomes more important, the market is set to grow further. Innovations in product design and a focus on reducing costs are also key factors driving this market's strong growth.
Report Attribute | Details |
---|---|
Base Year: | 2023 |
Commercial Flexible Metallic Tubing Market Size in 2023: | USD 136.4 Million |
Forecast Period: | 2024 to 2032 |
Forecast Period 2024 to 2032 CAGR: | 8.9% |
2032 Value Projection: | USD 300.9 Million |
Historical Data for: | 2021 - 2023 |
No. of Pages: | 80 |
Tables, Charts & Figures: | 15 |
Segments covered: | Trade Size |
Growth Drivers: |
|
Pitfalls & Challenges: |
|
The commercial flexible metallic tubing industry is witnessing significant growth, driven by rising demand for adaptable piping solutions in sectors like HVAC, automotive, and construction. Innovations in materials and manufacturing are enhancing these tubes, providing flexibility, high pressure, and corrosion resistance. Moreover, the industry's focus on energy efficiency and sustainability is boosting the adoption of these tubes, as they facilitate efficient fluid and gas transfer while simplifying installations. According to the U.S. Department of Energy, energy-efficient technologies can reduce energy consumption by up to 30%. Noteworthy trends include a surge in demand for customized solutions and an increasing integration of advanced technologies in tubing designs, further propelling market growth.
The global market for commercial flexible metallic tubing (FMT) is expected to exceed USD 300 million by 2032. This growth is being driven by various regional factors. In North America, the expansion of infrastructure projects and increased investments in construction are fueling demand. Europe's focus on energy efficiency and sustainable building practices is contributing to market growth, while in Asia-Pacific, rapid industrialization and urbanization are major growth drivers. Additionally, the rising adoption of flexible metallic tubing in the Middle East and Africa, driven by advancements in the oil and gas sector, is also supporting market expansion.
The 2 ½ to 3 inch trade size segment is projected to witness about 7.5% CAGR through 2032. The increasing demand for efficient HVAC systems fuels the need for advanced tubing solutions, while the expansion of commercial and construction activities further boosts market demand. Technological advancements in tubing materials and manufacturing processes enhance performance and reliability, encouraging widespread adoption. Additionally, stringent regulatory standards for safety and efficiency in commercial buildings promote the use of high-quality tubing solutions. Furthermore, a rising awareness of environmental impact and a push for sustainable products support the growing preference for flexible metallic tubing.
Asia-Pacific commercial flexible metallic tubing market is poised to surpass USD 120 million by 2032. Several factors drive this growth: a heightened demand for advanced HVAC systems, rapid industrialization, and extensive infrastructure development. Additionally, the construction, automotive, and other industries increasingly require efficient and durable piping solutions, further fueling market expansion. Technological advancements in manufacturing and a growing emphasis on energy efficiency also play crucial roles in propelling this market's growth.
The U.S. commercial flexible metallic tubing market is driven by rising demand for efficient HVAC systems and advancements in construction technologies. Increased infrastructure development, coupled with growing awareness of energy efficiency and sustainability, fuels the market. The need for durable, corrosion-resistant tubing solutions in various applications, such as ventilation and refrigeration, also supports growth. Additionally, regulatory standards promoting energy-efficient systems contribute to market expansion.
ABB has a notable presence in the commercial flexible metallic tubing industry, leveraging its expertise in industrial automation and electrical solutions. Their significant share in this sector is attributed to their advanced product offerings that cater to diverse applications, enhancing durability and flexibility. ABB’s innovations and reliability in the market contribute to its strong competitive position.
Major key players operating across the commercial flexible metallic tubing industry are:
Click here to Buy Section of this Report
Market, By Trade Size
The above information has been provided for the following regions and countries: