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Utility Electrical Conduit Market Size

Report ID: GMI8255
Published Date: Feb 2024
Report Format: PDF

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Utility Electrical Conduit Market Size

Utility Electrical Conduit Market was valued at USD 2.6 billion in 2023 and is projected to grow at a CAGR of over 8.4% between 2024 and 2032, due to expanding infrastructure, urbanization, and industrial development. As renewable energy adoption rises, there's a growing need for durable conduit systems to transmit power efficiently. As per IEA, 2022 witnessed a substantial rise in renewable energy adoption with annual capacity additions of 340 GW, which is further anticipated to grow in the coming years.

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Stringent safety and environmental regulations spur innovation in conduit materials, urging manufacturers to develop sustainable solutions. Smart grid initiatives globally drive demand for conduits integrating advanced communication systems, enhancing grid efficiency. Modernization of aging utility infrastructure also fuels demand for electrical conduits, especially in rapidly urbanizing regions. Manufacturers prioritize delivering reliable, high-performance conduit solutions while ensuring compliance with regulatory standards.

Utility Electrical Conduit Market Report Attributes
Report Attribute	Details
Base Year:	2023
Utility Electrical Conduit Market Size in 2023:	USD 2.6 Billion
Forecast Period:	2024 to 2032
Forecast Period 2024 to 2032 CAGR:	8.4%
2032 Value Projection:	USD 5.6 Billion
Historical Data for:	2019 to 2023
No. of Pages:	270
Tables, Charts & Figures:	321
Segments covered:	Trade Size, Classification
Growth Drivers:	Increasing electricity demand Integration of a sustainable energy infrastructure Expansion of smart grid networks
Pitfalls & Challenges:	Slow–paced technological evolution across developing regions

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Authors: Ankit Gupta, Vishal Saini

Frequently Asked Questions (FAQ) :

The market size of utility electrical conduit was reached USD 2.6 billion in 2023 and is expected to register 8.4% CAGR from 2024 to 2032, owing to expanding infrastructure, urbanization, and industrial development worldwide.

Utility electrical conduit industry from the non-metal conduits segment is expected to register over 8.5% CAGR through 2032, due to increasing adoption of advanced non-metal materials such as PVC, HDPE, and fiberglass.

Asia Pacific utility electrical conduit industry is expected to reach over USD 2.7 billion by 2032 due to rapid urbanization, industrialization, and modernization initiatives along with increasing demand for electricity infrastructure in the region.

ABB, Anamet Electrical, Inc., ASTRAL Limited, Atkore, Austro Pipes, CANTEX INC., Champion Fiberglass, Inc., Electri-Flex Company, Guangdong Ctube Industry Co., Ltd., HellermannTyton, and Hubbell, are some of the major utility electrical conduit companies worldwide.