Steam Condensate Piping Market To Reach $6.3 Bn, Globally, By 2031 At 3.3% CAGR: Allied Market Research

(MENAFN- EIN Presswire) Steam Condensate Piping market to Reach $6.3 Bn, Globally, by 2031 at 3.3% CAGR: Allied Market Research

NEW CASTLE, DE, UNITED STATES, February 7, 2025 /EINPresswire / -- Allied Market Research recently published a report, titled, "Steam Condensate Piping Market by Piping Material (Stainless Steel, Carbon Steel, Others), by Application (Commercial, Industrial): Global Opportunity Analysis and industry Forecast, 2020-2031." According to the report, the global steam condensate piping industry generated $4.3 billion in 2020, and is expected to reach $6.3 billion by 2031, witnessing a CAGR of 3.3% from 2022 to 2031.

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Drivers and Opportunities
Extensive use in various industrial applications such as sterilization, chemical cracking, and other heating processes and widening applications in industries such as paper & pulp, oil & gas refining, food processing, and others drive the growth of the global steam condensate piping market. Moreover, supportive government initiatives that include phase out old coal-fired power plants and the replacement with new natural gas-fired power plants present new opportunities in the coming years.

The carbon steel segment to maintain its lead status throughout the forecast period
Based on piping material, the carbon steel segment accounted for the highest market share in 2020, contributing to nearly half of the global steam condensate piping market, and is estimated to maintain its lead status throughout the forecast period. This is attributed to its cost-effectiveness. However, the stainless steel segment is expected to manifest the fastest CAGR of 3.5% from 2022 to 2031, owing to its benefits such as high resistance to corrosion and long life.

The industrial segment to maintain its leadership status by 2031
Based on application, the industrial segment held the highest share in 2020, accounting for around 94% of the global steam condensate piping market, and is projected to maintain its leadership status by 2031. Moreover, this segment is projected to witness the highest CAGR of 3.3% from 2022 to 2031. This is due to extensive use of steam systems in various manufacturing and processing industries. The report also analyzes the commercial segment.

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Asia-Pacific to continue its lead position by 2031
Based on region, Asia-Pacific contributed to the highest market share in terms of revenue in 2020, accounting for nearly half of the global steam condensate piping market, and is projected to continue its lead position by 2031. This is attributed to large number of manufacturing and processing industries. However, LAMEA is estimated to witness the largest CAGR of 4.2% during the forecast period. This is due to increase in investments in the African region and considerable growth of the manufacturing industry in Latin America.

Leading Market Players

Jindal Saw Ltd.
Metline Industries
Mueller Industries, Inc.
Nippon Steel Corporation
Shandong Rigang Metal Material Co., Ltd
Steelmor Industries
Threeway Steel Co., Ltd.
Tubacex S.A
Voestalpine AG
Zenith Steel Pipes & Industries Limited

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports Insights" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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