Cable Duct Market Size is Expected to Reach $13.3 Billion by 2032 | TE Connectivity Ltd., Leviton Manufacturing

According to a new report published by Allied Market Research, titled, "Cable Duct Market by Product Type, Material, End Use Industry, and Region: Global Opportunity Analysis and Industry Forecast, 2023-2032," The cable duct market was valued at $6.2 billion in 2022, and is estimated to reach $13.3 billion by 2032, growing at a CAGR of 7.8% from 2023 to 2032.

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A cable duct is a conduit that is used to route and organize cables safely and efficiently. It is available in a variety of shapes, sizes, and materials such as PVC, polymer, and metal. Cable ducting entails burying or trenching the duct to protect and route cables safely. A trench duct is a prefabricated concrete conduit used for cable management in trenches. Cable duct trays are suspended from the ceiling or wall to support and route cables in an organized and accessible manner. These trays are composed of diverse materials such as steel, aluminum, or fiberglass and, depending on their design, may withstand a variety of weight capacities. Cable ducts offer flexibility and customization options for different applications and environments, making them an essential part of cable management systems.

The growth of global cable duct market trends is majorly driven by the rise in demand for high-speed internet paired with the increase in demand for power and communication infrastructure. Moreover, the infrastructure development initiatives by governments are expected to drive market growth. However, the high initial installation and maintenance costs are prime restraints of the global market. The growth in demand for smart homes and buildings is anticipated to provide lucrative opportunities for the Cable duct industry during the forecast period.

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According to the cable duct market analysis, the flexible cable duct segment was the highest contributor to the market in 2021. The PVC cable duct and polyethylene cable duct collectively accounted for around 77.3% market share in 2021. The growth in demand for renewable energy sources such as wind and solar power also drives the demand for cable ducts, including PVC and polymer options, as they are essential for managing the cables used in these systems, which is expected to lead to the growth of the cable duct market growth.

The outbreak of COVID-19 has significantly impacted the growth of the global supply chain. The decline in growth in manufacturing solutions has significantly impacted the demand for cable duct solutions during the pandemic. Furthermore, the lack of availability of a professional workforce due to the partial and complete lockdown implemented by governments across the globe has restrained the growth of the cable duct market during the pandemic. However, the growth in demand for renewable energy solutions in growth in economies such as India, South Korea, Brazil, and others is expected to drive the development of the market during the forecast period.

On the basis of product type, the rigid cable duct segment dominated the market in 2021 and is expected to dominate the market during the forecast period. On the basis of material, the PVC cable duct segment accounted for a significant share of the cable duct market. On the basis of the end-use industry, the IT and telecommunication segment accounted for a significant share in global cable duct industry trends, owing to a surge in demand from emerging markets globally. On the basis of the region, Asia-Pacific holds a significant share of the global market, owing to the presence of prime players in this region. China dominated the cable duct market in the Asia-Pacific cable duct market. The rise in investment by prime players and government agencies to develop next-generation electricity & utility and data centers has led to the growth of the market.

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KEY FINDINGS OF THE STUDY
• In 2022, the Flexible cable duct segment accounted for maximum revenue and is projected to grow at a notable CAGR of 8.8% during the forecast period.
• The PVC cable duct segment was the highest revenue contributor to the cable duct market size in 2022 with a CAGR of 7.7%.
• The energy and utility and IT and telecommunication segments collectively accounted for around 65.6% cable duct market share in 2022.
• Asia-Pacific gained a major share in the cable duct market with an industry share of 8.7% in 2022.

The key players profiled in the report are Legrand SA, Schneider Electric SE, Atkore International Group Inc., ABB Ltd., Panduit Corporation, HellermannTyton Group PLC, CommScope Holding Company, Inc., TE Connectivity Ltd., Leviton Manufacturing Co. Inc., and Eaton Corporation. Market players have adopted various strategies such as product launches, expansion, acquisition, and others to expand their foothold in the cable duct market size. In April 2021, Leviton, the nation's leading provider of electrical wiring devices, announced a new partnership with the electrical training ALLIANCE, the nation's largest electrical training organization. With the goal of developing the best-trained and most technically advanced electrical workforce in the world, the five-year agreement will bring funding, training kits, instruction, and technical expertise through traditional and digital training curriculum platforms.

Report Overview: https://www.alliedmarketresearch.com/cable-duct-market-A74840

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