-Rising industrial automation, and growth of telecom sector around the globe are emerging as key drivers for growth
- Modernization of infrastructure, and digitalization are making big waves. Monetizing on this, wiring duct market will likely reach US$524.3 mn by 2027, growing at a robust 4.6% CAGR
ALBANY, New York, Feb. 6, 2020 /PRNewswire/ -- Wiring duct market is expected to make major gains in North America, and Europe, wherein the decreasing costs of labour input can make way for major investments in automation. Additionally, many major companies in the region including Amazon has made strong headways in automation of its warehousing, and retail facilities. The automation trend is also visible in food retail outlets, wherein digital kiosks are making their way in McDonalds store to provide a simpler, and more controlled experience for consumers.
Despite its lucrative gains in retail, and industrial automation, telecom sector will likely emerge as a major positive for players in the wiring duct market. For example, in India, major telecom players including Idea, Vodafone, and Airtel have announced investments in automation, and in 'self-healing networks'. These networks based on AI automation promise the ability to detect networks malfunctions in real-time, and fix the technical glitches automatically without impacting the consumer experience. Commercial automation in the telecom sector will emerge as a major driver for growth for players in the wiring duct market.
Key Findings of the Wiring Duct Market Study
- The commercial segment of the wiring duct market is expected to witness highest growth, as demand for retail complexes, network cabling system, hospitals, and telecom rises. The large number of telecom and IT companies in emerging regions are expected to drive this growth.
- The growth in datacenters will likely follow growth in the telecom sector, with several tech giants like Amazon, Google, and Microsoft making big investments towards a big data future.
- The oil and gas industry also promises tremendous growth for players in the wiring duct market with rising on-shore and off-shore activities. The demand for wiring duct products in chemical industries, and grain elevators are also expected to pick up significant pace.
- The rising demand in the hospital sector promises major gains as increasing digitalization reduces operating costs for hospitals. Moreover, programs like MEDICAID provide more incentives for digitalization in United States.
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Wiring Duct Market: Key Driving Factors
According to Bradley Mead, the head of Ericsson's network managed services, over 50 to 60% traditional telecom activities will be automated in India. His forecast is in line with several other reports including IBM's which states that conventional BSS model has failed to meet dynamic and vibrant demands of driving consumer experiences. Additionally, these have resulted in losses as high 20 million US dollars for several telecom players. On the other hand, consumers are demanding higher network capacities, thanks to growing digitalization, and online interactions. The wiring duct players will likely benefit from this conundrum, which will likely drive robust demand for advanced cabling systems.
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Key Impediments for Wiring Duct Market Players
Disposable of ducts remains a major concern for end-players in the wiring duct market. The lack of proper disposable techniques, and skilled professionals. The limitation of recycling methods is also a challenge that will restraint market growth during the forecast period. The toxic byproducts of wiring ducts systems are not being replaced with biodegradable, and eco-friendly materials. Despite the growing concern about these products, the jacketing material, continues to remain unchecked while polluting land, and water. This raises concern about the long-term sustainability of these products, and can also lead to regulatory liabilities in some regions, where the regulations are far more stringent.
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Wiring Duct Market: Region-wise Analysis
The wiring duct market is expected to witness highest growth in Asia Pacific, wherein telecom, and IT sector are expected to drive major gains. Additionally, the expansion of healthcare, and increased investment of private players in insurance schemes are also expected to drive growth further.
The growing investment in datacenters, and automation is likely to boost manufacturing, and growth in the wiring duct market. Automation makes way for a level-playing field for manufacturers in Europe, and North America to bring down products costs, and match labor costs experienced in emerging nations. The penetration of automation in major manufacturing facilities in the region will drive tremendous growth for players in the wiring duct market.
Wiring duct market growth in 30+ countries including US, Canada, Germany, United Kingdom, France, Italy, Russia, Poland, Benelux, Nordic, China, Japan, India, and South Korea. Request a sample of the study.
Competition Landscape
Key players in the wiring duct market include Hager Group, ABB Ltd, Hua Wei Industrial Co., Ltd., Panduit Corporation, OMEGA Engineering, Inc. Growing collaboration for innovation, and mergers in the market will likely shift dynamics for end-players in near future.
Transparency Market Research has segmented the wiring duct market based on product type, application, and region.
Product Type
- Slotted Wire Duct
- Wide-slotted Wire Duct
- Narrow-slotted Wire Duct
- Round-hole Wire Duct
- Solid-wall Wire Duct
- Flexible Wire Duct
- Others (Including DIN Rail Wire Duct)
Application
- Commercial
- Industrial
Geography
- North America
- Europe
- Asia Pacific
- Middle East & Africa (MEA)
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