A recent report published by Infinium Global Research on wiring duct market provides in-depth analysis of segments and sub-segments in the global as well as regional wiring duct market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional wiring duct market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global wiring duct market. According to the report, the global wiring duct market is projected to grow at a CAGR of 4.2% over the forecast period of 2019-2025.
The wiring duct market is continuously growing in the global scenario at a significant pace owing to the expansion of the IT sector, data centers, telecom industry, network cabling systems, office spaces, hospitals, and other retail complexes. Wiring duct plays a crucial role in routing and concealing wiring in electrical control panels as a management solution.
The increasing demand for an industrial automation process to upgrade industrial processes coupled with high growth in the construction sector drives the demand for the global wiring duct market. As industrial automation develops and is becoming more complex, which are generally composed of a couple of interconnected systems, components from sensors to top-level controllers. In order to maintain complexity, wire and cable ducts are required to protect and route cables and wires. Which in turn, is likely to boost the growth of wiring duct market. Furthermore, growth in IT industries, telecom industry and data centers other major factors augments the market growth. However, fluctuation in raw materials prices and environmental concerns regarding recycling of ducts could hamper the market growth. Furthermore, increasing infrastructure development activities in emerging economies and halogen free-wiring ducts provide beneficial opportunities for the wiring duct market in coming years.
North America and Europe is expected to a significant share in the wiring duct market owing to the presence of huge telecommunications and commercial base. On the other hand, Asia Pacify is anticipated to be the fastest-growing region for this the market throughout the forecast period due to an expansion of IT hubs, telecom industry, and data centers, the presence of several manufacturers in China and development of power networks. Moreover, developing countries such as China, Japan and South Korea are accounted to hold substantial shares of Asia Pacific wiring duct market over the forecast period. The Middle East and Africa is witnessing substantial growth in this market owing to infrastructural development.
The report on global wiring duct market covers segments such as type, and application. On the basis of type, the sub-markets include narrow finger wire duct, wide finger wire duct, flexible wiring duct, solid wall wire duct, and other types. On the basis of application, the sub-markets include industrial, and commercial.
The report provides profiles of the companies in the market such as Hammond Manufacturing Co. Ltd., Phoenix Contact GmbH & Co. KG, Panduit Corporation, Hager Group, ABB, Leviton, and HellermannTyton.
The report provides deep insights into the demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of wiring duct market. Moreover, the study highlights current market trends and provides forecast from 2019-2025. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
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