Plastic Trunking Market Scope
Facilitating systematic wiring, the use of plastic trunking also helps in enhancing aesthetics and clarity, allows faster connections and avoids issues related to bunching & taping as well as provides for complete electrical insulation support across different applications. The global plastic trunking market is expected to grow at a healthy pace during the forecast period, according to the AMA study. The rising electrification across different industries such as residential, commercial, & industrial and increasing urbanization across emerging countries are expected to be some of the major factors aiding the growth of the market. However, the market is expected to witness a decline in growth during FY 2020 but it is again expected to rise at a healthy pace after the COVID-19 pandemic is over.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | ABB (Switzerland), Anamet Electrical, Inc. (United States), Atkore International Group (United States), Cantex Inc. (United States), Greenmill AC (United Kingdom), Hindustan Plastic And Machine Corporation (India), Hubbell Incorporated (United States), IBOCO Corporation (United States), Legrand (France), Panduit (United States), Phoenix Contact (Germany) and Schneider Electric (France) |
CAGR | 13.1% |
The vendors in this market are majorly focusing on developing innovative products and solutions in order to cater to the market's demands to remain competitive in the global market. According to the recent global industry crisis due to the outbreak of COVID-19 is expected to be one of the major challenges for the vendors of this market as the production and markets of different industries have been shut down for an ambiguous period of time. Research Analyst at AMA estimates that Global Manufacturers will contribute to the maximum growth of Global Plastic Trunking market throughout the predicted period.
ABB (Switzerland), Anamet Electrical, Inc. (United States), Atkore International Group (United States), Cantex Inc. (United States), Greenmill AC (United Kingdom), Hindustan Plastic And Machine Corporation (India), Hubbell Incorporated (United States), IBOCO Corporation (United States), Legrand (France), Panduit (United States), Phoenix Contact (Germany) and Schneider Electric (France) are some of the key players that are part of study coverage.
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Plastic Trunking market by Type , by Application (Residential, Commercial and Industrial) and Region with country level break-up.
On the basis of geography, the market of Plastic Trunking has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In October 2023, Conduit Pharmaceuticals Inc. (Nasdaq: CDT) (“Conduit Pharmaceuticals” or “Conduit”), a multi-asset clinical-stage disease-agnostic life science company providing an efficient model for compound development, today announced a partnership with ClinConnect, a first-of-its-kind platform redefining how patients and clinical trials find each other, to conduct a cocrystal development program to evaluate Conduit’s AZD1656 compound.
In April 2023, Conduit Tech, Inc. (Conduit Tech), a start-up working to accelerate installation of high-efficiency HVAC systems, today announced the successful close of their Seed Series financing round led by Breakthrough Energy Ventures (BEV) with participation from Emerson Collective, Picus Capital, Pear VC, and Collab Fund.
Stringent Government Regulations Regarding Shutting-Down of Different Industry's Operations Due to COVID-19 Pandemic has Impacted the Plastic Trunking Market in the FY 2020
Influencing Trend:
Growing Adoption of Online Sales Channel
Market Growth Drivers:
Rising Electrification Across Residential, Commercial, and Industrial Sectors and Rising Urbanisation Across Emerging Countries
Challenges:
Disrupted Supply Chain Owing to COVID-19 Pandemic has Impacted the Sales of Plastic Trunking in the FY 2020
Restraints:
Lack of Awareness Across Rural Regions
Opportunities:
Opportunities Across Asia Pacific Region
Analyst View
Since the COVID-19 virus outbreak in December 2019, the disease has spread to more than 200 countries across the world along with the World Health Organization declaring it a public health emergency. The impact of the COVID-19 has already hit many industries and will affect the global plastic trunking market in FY 2020. The outbreak of COVID-19 has brought effects on many aspects, like scheduled public transportation cancellations; downfall in the real estate sector; travel bans and quarantines; closed operations across hotels & restaurants; banning of public gatherings & events; large slow-down in the supply chain of different markets; stock market unpredictability; declining business assurance, and uncertainty in the future market dynamics.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Modified Soya Flour Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations, End-Use Industries and Others