It is expected to witness expansion at a CAGR of 4.6% during the years 2019 and 2027. The market will be effected by a range of macroeconomic factors throughout the forecast period. As per recent report by Transparency Market Research, the global wiring duct market is expected to reach the value of US$524.3 Mn by the year 2027.
With the advancement of technologies, the applications of industrial automation is expanding rapidly. This is resulting in emergence of sophisticated but complicated technologies. This contributes to the increase in complexity during the interconnection of system components between sensors and top-level controllers. Hence, in order to combat the complexity, wire ducts are used to properly route as well as conceal cables and wire bundles in the control panel. Consequently, this will augment the size of the wiring duct market globally during the forecast period.
At the same time, proper disposal of ducts and recycling is a major challenge interfering with the expansion of the wiring duct market. Polyvinyl chloride cable is the commonly used duct material. It is also used for jacketing or insulating metal wires. The chemical is neither bio-degradable nor eco-friendly. Also, burning of PVC releases dioxins, which is highly toxic. The toxic byproduct enters into human food chain by contaminating water and land.
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Wide Range of Industrial Application Bolster Revenue Generation
On the basis of application, the commercial segment is expected to majorly contribute in the expansion of global wiring duct market in the given forecast period. There is a high demand for cabling and wiring ducts in the telecom industry, network cabling systems, retail complexes, and hospitals for organization of bundles of cables and separate them in an electric enclosure. At present, numbers of telecom industry, IT hubs, and data centers are increasing in huge numbers. This, in result, is expected to augment the production of wiring ducts in the course of the forecast period.
Moreover, industrial application of the wiring duct has come as another driving factor in the wiring duct market. Demand of wiring ducts in oil and gas industries, grain elevators, and chemical plants is expected to boost the global duct market in the course of the forecast period.
The report also highlights the competition scenario of the global wiring duct market, thereby ranking all major market players according to their geographical presence and key developments. Insights for the global market is a result of extensive primary interviews, secondary research, and in-house expert panel reviews. The market estimates have been analyzed by considering the impact of different economic, political, social, legal, and technological factors.
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In terms of country, the market in North America has been classified into the U.S., Canada, and Rest of North America. The Europe market has been categorized into Germany, France, the U.K., and Rest of Europe. The Asia Pacific market has been segmented into China, Japan, Taiwan, South Korea, and Rest of Asia Pacific. Middle East & Africa covers GCC, South Africa, and Rest of Middle East & Africa. South America comprises Brazil and Rest of South America. This report provides all strategic information required to understand the global wiring duct market along with product and application segments of the market. Additionally, the report provides insights into the market across all regions.
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