(MENAFN- PR Newswire)
Growing demand for high-speed industrial, commercial and residential construction is anticipated to boost the growth in the global pipes market. Also, need for wastewater management in industrial and municipal sectors is surging. This is resulting in governments spending hefty amounts on new pipeline installations as well as operation and maintenance of water and wastewater management.
NEWARK, Del., July 8, 2024 /PRNewswire/ -- The pipe market is anticipated to be valued at USD 146.38 billion by 2024. The market valuation is estimated to be USD 238.67 billion by 2034, projected at a CAGR of 5.01%.
Rising urbanization, population growth, and industrialization necessitate the construction of new residential, commercial, and industrial facilities, fueling demand for pipes across various sectors. Infrastructure initiatives such as road construction, water supply networks, sewage systems, and oil and gas pipelines contribute significantly to the market growth.
The residential infrastructure sector largely remains supported by low lending rates, strong demand for bigger homes, and low housing inventory. As the infrastructure and oil and gas industry continues to grow, the demand for piping system will continue to rise. This has also led to an increase in online sales of pipes.
Request Your Sample Report Now!
One key threat facing the pipe market is the volatility of raw material prices. Fluctuations in the prices of metals, plastics, and other materials used in pipe manufacturing can impact manufacturers production costs and profit margins. Geopolitical tensions, trade disputes, and disruptions in the global supply chain can exacerbate price volatility, posing challenges for market players in managing costs and maintaining competitiveness.
An opportunity for the pipe market
lies in adopting sustainable and eco-friendly piping materials. With increasing environmental concerns and regulatory pressures to reduce carbon emissions and promote sustainability, a growing demand for pipes made from recycled materials, composite materials, and other eco-friendly alternatives is growing. Companies investing in research and development to innovate sustainable piping solutions stand to capitalize on this trend and gain a competitive advantage in the market.
The integration of advanced technologies such as IoT (Internet of Things) and AI (Artificial Intelligence) in pipe manufacturing and monitoring processes presents opportunities for market players to enhance product performance, efficiency, and safety, thus meeting the evolving needs of customers and industry.
Which are the Key Opportunities for the Global Pipes Manufacturers?
Governments across emerging regions are launching multiple infrastructure projects in order to strengthen commercial infrastructure. This in turn is expected to provide opportunities for public-private partnership infrastructure projects in the region which will thereby boost the sales of the pipes.
Moreover, GCC countries are gradually shifting their focus towards developing into services driven economies. This shift in focus is expected to promote commercial infrastructure activities in the region and create opportunities for infrastructure -related investments giving opportunity to increase sale of pipes.
Key Takeaways from the Market Study
Under material, the metal segment is accounted to hold a market share of 67.73% in 2024.
The United Kingdom is estimated to register at a CAGR of 5.79% by 2034.
China experiences significant growth, projected at a CAGR of 7.78% by 2034.
Based on diameter, the metals of 100 to 200 mm segment is accounted to hold a market share of 14.56% in 2024.
"The increasing demand for
urbanization, population growth, and industrialization continue, the need for pipes to facilitate the transportation of fluids and gases remains essential, thereby propelling market growth," Says Nikhil Kaitwade
(Associate Vice President at Future Market Insights, Inc.)
Competitive Landscape
In the competitive landscape of the pipe market, numerous manufacturers, distributors, and suppliers compete based on factors such as product quality, pricing, geographical reach, and customer service.
Key players continuously innovate to enhance their product portfolios, production efficiency, and market presence. Adherence to regulatory standards and sustainability initiatives also influence competitiveness in the market.
Some of the key developments are:
In December 2021, North American Pipe Corporation, under Westlake Chemical Corporation, introduced advanced molecularly oriented polyvinyl chloride (PVC) pipes with reduced carbon footprint, offering eco-friendly water main solutions.
In July 2022, Pipelife Austria Gmbh & Co KG collaborated with raw material supplier Inovyn to produce PVC sewage pipes entirely devoid of fossil fuels. These pipes were intended for a sustainable construction initiative in Gothenburg, Sweden, reflecting a commitment to eco-friendly practices and reducing environmental impact.
Get the Insights You Need – Connect with Sales to Secure Your Copy of Report:
Why is Italy Considered to be a Lucrative Market for Pipes Manufacturers?
Italy pipes industry is set to register 6.44% CAGR by the end of the forecast period. In the context of deteriorating residential and commercial infrastructure demand, the growth in crude oil and petroleum industry and rising infrastructure spending is expected to boost infrastructure industry.
As part of corona-recovery packages, Western European countries are planning significant investment in infrastructure developments, alongside some regulatory adjustment for quicker and more flexible infrastructure planning systems. This is expected to positively impact the pipes market in Europe.
Top Key Players in the Pipe Market
Aliaxis Group
Sekisui Chemical Co. Ltd
Orbia Advance Corp
Astral Polytechnik Ltd
Geberit AG
Finolex Industries Ltd.
Formosa Plastic Corporation
Nan Ya Plastics Corp.
Advanced Drainage Systems Incorporated
Polypipe Group Plc
AGRU Kunststofftechnik Gesellschaft M.B.H
More Valuable Insights Available
Future Market Insights offers an unbiased global pipes market analysis, providing historical data from 2019 to 2023 and forecast statistics from 2024 to 2034
To understand market opportunities, the pipes market is segmented based on
Material Type [Plastic (PVC, CPVC, HDPE, LDPE, PP, ABS, Fiberglass), Metal, Composite], Diameter [Plastic (Up to 50mm, 50-100mm, 100-200mm, 200-400mm, 400-700mm, Above 700mm), Metal (Up to 50mm, 50-100mm, 100-200mm, 200-400mm, 400-700mm, Above 700mm), Composite (Up to 50mm, 50-100mm, 100-200mm, 200-400mm)], and Region (North America, Latin America, Western Europe, Eastern Europe, South Asia and Pacific, East Asia, and the Middle East and Africa).
Report Preview:
About the Industrial Automation Division at Future Market Insights
The industrial automation
team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations to provide authentic insights and accurate results to help clients worldwide. With over 100+ reports and one million+ data points, the team has analyzed the industry lucidly in 50+ countries for over a decade. The team briefly analyzes key trends, including competitive landscape, profit margin, and research development efforts.
Authored by:
Nikhil Kaitwade
(Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
Explore FMI's Extensive Coverage in the Industrial Automation Domain:
Global demand for pipe inspection robots
is expected to rise at a CAGR of 15.8% to USD 13 Billion in 2033.
The sales of pipe flanges
market is anticipated to achieve a CAGR of 4.1% during the forecast period, reaching a valuation exceeding USD 6,907.0 million by 2033.
The global pipeline monitoring system market value is moving toward achieving a valuation of USD 30,463.4 million by 2034.
Sales of transformer monitoring systems are proficient to attain the worth and strike USD 7,646.39 million by 2034.
The
portable filtration system market demand
is set to progress at a CAGR of 5.4% through 2034. The market value is slated to increase from USD 720.7 million in 2024 to USD 1.2 billion by 2034.
The
pallet pooling market size
is anticipated to reach USD 14.49 billion by 2034. The market is further expected to surge at a CAGR of 6.1% during the forecast period 2024 to 2034.
The
offshore wind market
growth is projected to grow at a CAGR of 21.4% from 2024 to 2034. The market is expected to rise from USD 46.6 billion in 2024 to USD 325 billion by 2034.
Over the forecast period 2024 to 2034, global gravity conveyor system demand
is anticipated to rise at 5.2% CAGR. Total market value is predicted to increase from USD 484.5 million in 2024 to USD 804.4 million in 2034.
The
laminated busbar market
is anticipated to reach USD 2.2 billion by 2034. The market is further expected to surge at a CAGR of 7.1% during the forecast period 2024 to 2034.
Over the forecast period 2024 to 2034, explosion-proof motor demand
is anticipated to rise at 4.4% CAGR. Total market value is predicted to increase from USD 3,602.2 million in 2024 to USD 5,540.8 million in 2034.
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in
Dubai
and has delivery centers in the
United Kingdom,
the United States, and
India. FMI's latest market research reports and industry analysis helps businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact Us
Future Market Insights Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401,
Newark, Delaware
- 19713,
USA
T: +1-845-579-5705
For Sales Enquiries:
[email protected]
Website:
LinkedIn |
Twitter |
Blogs
|
YouTube
Logo: g
SOURCE Future Market Insights
MENAFN08072024003732001241ID1108416874