Residential Non-Metal Electrical Conduit Market
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The global residential non-metal electrical conduit market, valued at USD 1.1 billion in 2023, is set to experience a robust CAGR of 8.5% through 2032.
The market growth is primarily driven by the demand for comprehensive conduit intended for urbanization and housing construction. The U. S. Census Bureau reports that expenditures on new residential buildings grew by 9.7% in 2023. Furthermore, sustainable policies for building construction and the focus on energy saving buildings also boosting the market growth. The introduction of the new building regulations together with the increased use of renewable sources of energy in homes will greatly accelerate the growth of the market during the forecast period.
Report Attribute | Details |
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Base Year: | 2023 |
Residential Non-Metal Electrical Conduit Market size in 2023: | USD 1.1 Billion |
Forecast Period: | 2024 to 2032 |
Forecast Period 2023 - 2032 CAGR: | 8.5 |
2023 Value Projection: | USD 2.4 Billion |
Historical Data for: | 2021 - 2023 |
No of Pages: | 100 |
Tables, Charts & Figures: | 10 |
Segments Covered: | Trade Size, Configuration |
Growth Drivers: |
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Pitfalls Challenges: |
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The residential non-metal electrical conduits market is witnessing significant growth driven by increasing adoption of sustainable, lightweight, and cost-effective materials. With growing concern towards the environment, a lot of people are willing to use PVC and other forms of non-metal conduits as they are corrosion resistant and easier to install.
In addition, the growth in the adoption of non-flexible conduits which can accommodate more sophisticated wiring due to the increased number of smart houses and renewable energy systems is driving the trend. Also, there is a growing need for PVC non-metallic conduits because of safety and fire and ultraviolet radiation resistant regulations. The heightened concern for energy conservation coupled with the increase in new housing units in developing countries is also increasing the demand for non-metal electrical conduits in residential building projects.
The residential non-metal electrical conduit industry for 2 ½ to 3 trade-sized residential non-metal electrical conduits is expected to surpass USD 600 million by 2032 driven by various factors.
Increased demand for construction within residential sectors, especially in urban metropolitan and suburban cities, drive growth for conduits that service larger electrical systems. These conduits are comparatively affordable, have easy installation and offer more flexibility than metal conduits, which makes them more desirable for new housing units and energy saving projects. The incorporation of newer forms of renewable energy systems like solar power panels also increases the need for these conduit systems since more support is needed that is stronger and more flexible. Furthermore, the adoption of smart home technologies is creating additional market demand considering the new regulations that are focused on increasing safety and energy efficiency.
The residential non-metal electrical conduit market, particularly for PVC configurations, is anticipated to grow at a CAGR of over 8% by 2032.
The growth is supported by the increasing use of PVC as it is cheaper, lighter, and does not corrode as easily as metal conduits. The market is further aided by the growing need for energy-efficient homes and increased urbanization with new residential buildings being constructed. In addition, the growing ease of installation and maintenance conditioned to great environmental durability also promotes the use of PVC conduits. The use of renewable energy systems and integration along with smart home technology is needed in residences, which also increases the demand for conduits for electrical installations of rigid flexible PVC.
The Asia Pacific residential non-metal electrical conduit market is valued at over USD 1.1 billion dollars by 2032 propelled by substantial factors contributing to this growth. This is fuelled by the high urbanization rate and the increasing construction of new homes in the developing economies, which creates a need for better and cheaper electrical systems.
For instance, in 2022, the urbanization rate in China reached at 72.7%, as per the National Bureau of Statistics of China, which demonstrates great areas of growth. In addition, government policies supporting energy efficiency and the use of non-metallic materials for increased safety are also contributing to the market growth. This also corresponded with a growing emphasis on environment friendly practices as well as an increased preference for flexible and durable conduits in housing situations.
The growth of the U.S. residential multisector non concealed electrical conduit market is attributed to the surge in housing development, growing consumption of electricity saving devices, and the requirement for non-metallic, flexible and corrosion resistant conduits. The newly implemented government regulations that encourage safety and protective measures alongside sustainability of the electrical structures coupled with the change in construction styles to contemporary ones are enhancing the use of non-metal conduits for residential purposes in the U.S.
Atkore holds a substantial market share in the residential non-metallic electrical conduit market due to its vast product range, ability to provide innovative solutions, and its large distribution network. The company's strategy for increasing the market share for non-metal conduits is focused on providing long lasting, flexible, and inexpensive solutions which have established the firm as a leader in addressing the increasing demand for residential construction.
Some of the key market players operating across the residential non-metal electrical conduit industry are:
Residential Non-Metal Electrical Conduit Industry News
Market, By Trade Size
Market, By Configuration
The above information has been provided for the following regions and countries:
ABB, ASTRAL Limited, Anamet Electrical, Inc., Atkore, CANTEX INC., Champion Fiberglass, Inc., Electri-Flex Company, HellermannTyton, Hubbell, and Legrand among others.
APAC residential non-metal electrical conduit market size is projected to surpass USD 1.1 billion by 2032, propelled by rapid urbanization and a burgeoning residential construction sector.
The residential non-metal electrical conduit market from the PVC segment is anticipated to grow at over 8% CAGR through 2032, due to its cost-effectiveness, lightweight nature, and excellent corrosion resistance.
The market size of residential non-metal electrical conduit was worth about USD 1.1 billion in 2023 and is set to experience 8.5% CAGR through 2032, fueled by a rising demand for conduit systems that are safer, lighter, and resistant to corrosion.