According to a new market research report published by Acute Market Reports “Electrical Conduit Fittings Market (Product Type – Clamps, Couplings, Connectors, Elbows, Nipples & Reducers, Bushing, Locknuts, Caps, Hubs and Others; Material – Metallic and Non-metallic) – Growth, Future Prospects and Competitive Analysis, 2018 – 2026”, the global electrical conduit fittings market is set to exhibit a CAGR of 6.7% during the forecast period from 2018 to 2026.
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Electrical conduit fittings form an integral part of wiring installation across numerous applications due to dominant use of conduit systems. Electrical conduit systems are the most common type of wiring installation worldwide. Subsequently, growing consumption of conduit systems forms the most significant factor driving the fittings market globally. The market is highly driven by the consistently growing construction industry worldwide across residential, commercial and industrial sectors. Due to high degree of safety, electrical conduit systems remain the preferred choice for wiring installation, thereby supporting the adjacent fittings market.
Another major factor supporting the market growth is wide range of fitting products available in the market. Over the period, manufacturers have developed numerous fitting products in conjunction to different types of electrical conduit systems. Nevertheless, growing use of cable trays/ladders pose a major threat to the electrical conduit fittings market. Although used for limited number of applications, cable trays/ladders eliminate need for any conduit fittings. Thus, rise in adoption of cable trays/ladders may have significant impact on electrical conduit fittings market growth.
The overall electrical conduit fittings market worldwide is categorized based on product type, material and geography. On the basis of material, the metallic conduit fittings segment lead the market with nearly 60% of the total revenue generated globally. This is due to higher cost of metallic fittings as compared non-metallic counterparts. However, it should be noted that in terms of volume, non-metallic fittings segment lead the market. Further, on the basis of geography, North America dominates the electrical conduit fittings market, closely followed by Asia Pacific. Considering the paced construction industry growth here, Asia Pacific is set to exhibit the fastest growth rate in the market through the forecast period.
Electrical conduit fittings market is highly fragmented in nature due to presence of large number of regional as well as international players. Apart from conduit system manufacturers, the market comprises various small sized players having only fittings as their business segment. Some of the major companies profiled in the report include Arlington Industries, Atkore International, Inc., Calpipe Industries, Inc., Dura-Line Corporation, Eaton Corporation Plc. (Cooper Industries), HellermannTyton Group Plc., Hubbell, Inc., Legrand SA, Robroy Industries, Inc., Schneider Electric SE, Southwire Company LLC and Thomas & Betts Corporation among others.