Plastic Conduit Market to Reach $25.67 Billion, Globally, by 2026 at 5.7% CAGR: Allied Market Research

PORTLAND, Oregon, Dec. 11, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Plastic Conduit Market by Type (Rigid Conduit and Flexible Conduit), Material (Polyvinyl Chloride, High-Density Polyethylene, Polypropylene, and Others), and Industry Vertical (Manufacturing, Construction, IT & Telecom, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026. "As per the report, the global plastic conduit industry was estimated at $16.24 billion in 2018 and is expected to reach $25.67 billion by 2026, growing at a CAGR of 5.7% from 2019 to 2026.

PORTLAND, Oregon, Dec. 11, 2019 /PRNewswire/ -- Allied Market Research published a report, titled, "Plastic Conduit Market by Type (Rigid Conduit and Flexible Conduit), Material (Polyvinyl Chloride, High-Density Polyethylene, Polypropylene, and Others), and Industry Vertical (Manufacturing, Construction, IT & Telecom, Healthcare, and Others): Global Opportunity Analysis and Industry Forecast, 2019–2026. "As per the report, the global plastic conduit industry was estimated at $16.24 billion in 2018 and is expected to reach $25.67 billion by 2026, growing at a CAGR of 5.7% from 2019 to 2026.

Drivers, restraints, and opportunities-

Rise in demand for highly secure and safe wiring system, and growing commercial construction drive the growth of the global plastic conduit market. On the other hand, high installation cost of conduits and increase in prices of non-metallic raw materials impede the growth to certain extent. Nevertheless, emerging trends toward cable-in conduits system and increasing opportunities in residential buildings are expected to create an array of opportunities in the near future.

The flexible conduits segment to dominate till 2026-

Based on type, the flexible conduits segment contributed to more than two-thirds of the global plastic conduit market share in 2018 and is expected to retain its dominance by the end of 2026. Use of flexible conduits for varied purposes such as wire installation boosts its demand in the market. The rigid conduits segment, on the other hand, would grow at the fastest CAGR of 7.1% throughout the estimated period. Use of rigid conduits for outdoor installation and its increased demand with industrial development have made it the fastest growing segment.

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The HDPE segment to rule the roost during the forecast period-

Based on material, the HDPE segment accounted for nearly one-third of the global plastic conduit market revenue in 2018 and is anticipated to retain the lion's share by 2026. The fact that HDPE conduits are highly preferred for electrical power protection and telecommunication cables has augmented the growth of the segment. At the same time, the PP segment would register the fastest CAGR of 7.0% during the study period. Polypropylene is flexible and abrasion resistant in nature. Moreover, it provides resistance to acids and alkalis, which rises its demand in industrial applications.

North America to lead the trail by 2026-

Based on geography, North America held the largest share in 2018, garnering more than one-third of the global plastic conduit market, and is predicted to dominate during 2019–2026. Fast development of infrastructure in the region demands installation of plastic conduits. Simultaneously, the region across Asia-Pacific would cite the fastest CAGR of 7.7% from 2019 to2026. This region has the major percentage of world's population and thus, requires major infrastructure development.

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