As per the current market research conducted by the CMI Team, the global EMT Fittings Market size is expected to record a CAGR of 3.2% from 2023 to 2032. In 2023, the market size is projected to reach a valuation of USD 87.8 Million. By 2032, the valuation is anticipated to reach USD 116.6 Million.
EMT Fittings Market: Growth Factors and Dynamics
- Rising Construction Activities: The EMT fittings market is driven by the global surge in construction activities, especially in the residential and commercial sectors. Increased construction projects necessitate robust electrical conduit systems, contributing to the demand for EMT fittings.
- Technological Advancements: Continuous technological advancements in EMT fittings, such as innovative materials and manufacturing processes, enhance the overall performance and durability of these fittings. This attracts industries seeking efficient and long-lasting electrical conduit solutions.
- Growing Emphasis on Sustainable Solutions: With a global emphasis on sustainability and eco-friendly practices, there is an increasing demand for EMT fittings made from environmentally friendly materials. Manufacturers incorporating sustainable practices gain a competitive edge in the market.
- Urbanization and Infrastructure Development: Rapid urbanization and infrastructure development projects worldwide fuel the demand for electrical conduit systems. EMT fittings play a crucial role in these projects, providing a reliable and flexible solution for routing and protecting electrical wiring.
- Stringent Regulatory Standards: The adherence to strict regulatory standards and building codes, which mandate the use of high-quality and certified electrical components, drives the EMT fittings market. Manufacturers complying with these standards experience increased market traction.
- Telecommunication Infrastructure Expansion: The expansion of telecommunication networks globally requires efficient cable management systems, where EMT fittings find application. As the telecommunication industry grows, so does the demand for reliable and durable fittings to protect and organize cables.
- Increased Adoption of Renewable Energy: The growing shift towards renewable energy sources and the integration of solar power and other sustainable technologies contribute to increased electrical infrastructure projects. EMT fittings, offering a reliable conduit for wiring in these projects, witness heightened demand as renewable energy installations expand.
- Digitalization and Smart Building Trends: The trend towards digitalization and the development of smart buildings with integrated technologies amplify the need for advanced electrical conduit systems. EMT fittings, adaptable to modern smart building requirements, experience increased demand in the evolving landscape of intelligent infrastructure.
Get Free Sample Copy @ https://www.custommarketinsights.com/request-for-free-sample/?reportid=36796
EMT Fittings Market: Partnership and Acquisitions
- In 2020, Atkore International Group Inc. acquired the assets of Queen City Plastics, Inc., a PVC conduit manufacturer. This strategic move enhances Atkore’s product portfolio, particularly in the electrical market, while expanding its presence to better serve customers in the Southeast and mid-Atlantic regions of the US.
- In 2023, ABB announced a new $4 million distribution center in Pennsylvania, U.S., catering to the electrical needs of the Northeast region. With a $15 million electrical product inventory, the facility aims to meet rising demand, strengthen ABB’s regional presence, and enhance customer outreach through swift responses to end-users.
EMT Fittings Market: COVID-19 Analysis
The COVID-19 pandemic has had a significant impact on the EMT Fittings Market, with the industry experiencing both positive and negative effects. Here are some of the key impacts:
- Supply Chain Disruptions: The EMT fittings market experienced disruptions in the supply chain due to lockdowns, restrictions, and disruptions in transportation. This led to delays in manufacturing and delivery of EMT fittings, affecting the overall market dynamics.
- Temporary Halt in Construction Projects: Many construction projects were temporarily halted or delayed during the pandemic, impacting the demand for EMT fittings. The uncertainty and economic challenges led to a cautious approach by industries, affecting the overall market growth.
- Shift in Priorities and Budget Constraints: Industries faced budget constraints and reprioritization of projects during the pandemic. This shift in priorities resulted in delayed or reduced investments in infrastructure projects, directly influencing the demand for EMT fittings.
- Recovery Measures for EMT Fittings Market: As economies recover and lockdowns ease, there is a gradual resumption of construction activities. This resurgence in construction projects, both ongoing and new, stimulates the demand for EMT fittings as essential components of electrical conduit systems.
- Adoption of Digital Technologies: The industry’s adoption of digital technologies for project management, supply chain optimization, and remote collaboration has increased post-COVID-19. This enhanced efficiency contributes to a quicker recovery for manufacturers and suppliers of EMT fittings.
- Government Infrastructure Stimulus Programs: Government initiatives and stimulus programs aimed at revitalizing economies often include investments in infrastructure projects. Increased funding for construction and development projects accelerates the demand for EMT fittings as a vital part of electrical systems.
- Focus on Health and Safety Standards: The pandemic has heightened awareness of health and safety standards. EMT fittings manufacturers are likely to emphasize product features that align with enhanced safety and hygiene requirements, addressing post-pandemic concerns.
- Strategic Innovation and Product Diversification: Manufacturers in the EMT fittings market are expected to focus on innovation and diversification of product offerings to meet evolving industry needs. This strategic approach can help them adapt to changing market dynamics and emerging trends in the post-COVID landscape.
List of the prominent players in the EMT Fittings Market:
- Atkore International Group Inc.
- ABB Installation Products Inc.
- Schneider Electric SE
- Eaton Corporation plc
- Thomas Betts Corporation (ABB)
- Hubbell Incorporated
- American Conduit (AFC Cable Systems)
- Calpipe Industries Inc.
- Zenith Birla (India) Limited
- Aliaxis Group
- Madison Electric Products
- Picoma Industries
- CANTEX Inc.
- Klein Tools Inc.
- Nucor Tubular Products
- Others
Table of Contents: https://www.custommarketinsights.com/report/emt-fittings-market/#table-of-contents
About Us:
Custom Market Insights is a market research and advisory company delivering business insights and market research reports to large, small, and medium-scale enterprises. We assist clients with strategies and business policies and regularly work towards achieving sustainable growth in their respective domains.
Custom Market Insights provides a one-stop solution for data collection to investment advice. The expert analysis of our company digs out essential factors that help to understand the significance and impact of market dynamics. The professional experts apply clients inside on the aspects such as strategies for future estimation fall, forecasting or opportunity to grow, and consumer survey.
Contact Us:
USA Corporate Office
CMI Consulting LLC
1333, 701 Tillery Street Unit 12, Austin, TX, Travis, US, 78702
Sales Support +1 801 639 9061
Email : support@custommarketinsights.com
Website : https://www.custommarketinsights.com/
