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Market Insights
Cable protection tubes market is governed by the increasing construction industry and growing IT & telecommunication industry worldwide. The construction industry is one of the largest in the world economy. More than US$ 10.0 Tn are spent on construction related goods & services every year. Cable protection tubes have been used due to its benefits such as higher cable safety, enhance cable performance, reduced time for maintenance and others. Major market players emphasize on new product launch so as to introduce newer products for specific applications such as industrial manufacturing & processing. For this, mergers & acquisitions have been among the important strategies in the market. For instance, in 2017, Atkore International acquired two companies Flexicon Limited and Calpipe Industries LLC. This has helped the company to strengthen its product portfolio and global presence.
Based on product type, cable protection tubes market is led by flexible cable protection tubes segment. In 2018, flexible cable protection tubes contributed to more than 60% of the total revenue generated worldwide. Flexible cable protection tubes are moisture-resistant and are easy to bend and install. Flexible cable protection tubes are commonly installed inside walls such as wood or metal frame walls and concrete block structures. On account of these reasons, we are expecting flexible cable protection tubes to lead the market throughout the forecast period.
Based on geography, North America is the largest regional market for cable protection tubes. North America is the largest market due to replacement of the traditional electrical equipment with enhanced high-quality systems. We are expecting a rapid growth in the Asia Pacific region due to rising construction industry in the region, mainly in China and India. On account of increasing electricity demand from developing economies and various government schemes are driving the market. For instance, in India, government launched “One Nation-One Grid-One Price” program in 2016 to interlink all state and national grids to achieve single tariff plan in the whole country. Due to increasing urbanization and consumer spending on electrical installation, the market here is expected to register rapid growth in years to come.
Some of the major companies profiled in the report include Hubbell Incorporated, Schneider Electric SE, ABB Ltd, Legrand S.A., Atkore International Inc., Electri-Flex Company, Eaton Corporation PLC, Robroy Industries, Champion Fiberglass Inc., Dura-Line Holdings Inc., Thomas and Betts Corporation, HellermannTyton Group Plc., Aliaxis SA, Calpipe Industries, Inc. Anamet Electrical, Inc., Electri Flex Co, and others.
According to a new market research report published by Acute Market Reports “Cable Protection Tubes Market (By Product Type (Rigid Cable Protection Tubes, Flexible Cable Protection Tubes), By Material Type (Metallic, Non-Metallic), By Application (Industrial, Residential, Commercial)) – Growth, Future Prospects and Competitive Analysis, 2019 – 2027”, the overall cable protection tubes market worldwide is set to grow with 6.30% CAGR during the forecast period.
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