Cable Conduit Systems Market Is Expected to Reach $7.3 Billion by 2022 - Amr

World Cable Conduit Systems Market Is Expected to Reach $7.3 Billion by 2022 - Allied Market Research

According to a new report by Allied Market Research titled, World Cable Conduit Systems Market - Opportunities and Forecasts, 2015-2022, the global cable conduit systems market is expected to reach $7.3 Billion by 2022, growing at a CAGR of 11.2% from 2016 to 2022. North America accounted for the highest share of the overall market revenue in 2015. However, Asia-Pacific region is expected to witness the fastest growth during the forecast period, surpassing the North American market from 2017 onwards.

Source: https://www.alliedmarketresearch.com/cable-conduit-systems-market

The cable conduit systems market by type comprises rigid and flexible conduit systems, which are made of metallic or non-metallic materials. In 2015, the rigid cable conduits accounted for approximately 73% of the total cable conduit systems market revenue, owing to the strength and durability they provide. However, flexible conduits are expected to portray higher demand than rigid conduits during the forecast period because of the ease of installation and increasing number of replacements of wiring systems.

Cable conduits are widely used across different industry verticals including manufacturing, construction, IT and telecommunication, healthcare, energy, and others. The manufacturing sector is the highest revenue contributor to the global cable conduits market, owing to the infrastructural developments especially in the Asia-Pacific region. However, the IT and telecommunication sector is predicted to be the fastest growing end-user segment over the forecast period owing to the increasing number of technology start-ups, worldwide. 

North America, Asia-Pacific, Europe, and LAMEA are the geographical segments of this market. North America was the leading revenue contributor in 2015 owing to higher demand and utilization of highly efficient cable management products. In terms of...