Population Growth & the Need for a More Structured Infrastructure to Handle Energy, Heating/Cooling, Water & Wastewater Needs to Drive Demand for Pipes & Pipe/Hose Fittings

The global market for Pipes and Pipe/Hose Fittings is projected to reach US$352.4 billion by 2024, driven by growing population and the ensuing expansion and upgrades of underground piped networks for transporting oil & gas, water, and wastewater, among others.

Pipes, used commonly in potable water distribution, storm sewers, and surface water drainage are indispensable to the infrastructure of a nation. Buoyed by expanding population and the subsequent rise in demand for potable water and drainage systems, market for pipes and fittings is set to rise over the analysis period. Demand is expected to increase further by the increasing distance between consumers and sources of potable water leading to the need for additional pipeline infrastructure for transmission and distribution. The trend is expected to be additionally supported by increasing migration of population to newer regions entailing the need for new infrastructure. The scenario is expected to promote demand for pipes, employed in public infrastructure applications including sewage and storm drain projects. Meanwhile, the need to redevelop and restore the ageing public sewer system will also offer opportunities for the pipe industry.

Nonetheless, given the sensitivity of end-use sectors such as oil & gas industry along with construction and building sectors, market for pipes and pipe/hose fittings is highly variable and closely mirrors the trends in GDP, energy prices and consumer spending levels. As the world economy expands, demand for energy is only expected to rise to address the growing industrial activity. Fossil fuels including coal, oil and natural gas form the dominant form of energy accounting for about 85% of the global energy requirements.  Demand for steel pipes is expected to improve in the mid-long term led by the stabilization in oil prices and resultant resurgence in oil & natural gas exploration, drilling and production activities. Demand for high-end seamless pipes is forecast to grow strongly due to the surge in unconventional drilling procedures such as horizontal drilling.

The market is expected to benefit from the development of lead-free pipes as a result of the growing pressure to adopt environment friendly products. The renewed interest in the urban development activities such as construction works spanning across industrial as well as residential and commercial sectors is expected to heighten demand for plastic pipes in coming years. Increasing demand for plastic pipes would be propelled by resin improvements that improve efficiency of pipe in challenging environments. In addition, improvement in processing would facilitate plastic pipe to become cost efficient in comparison to other materials.

Construction activity in countries such as India and China is driven by rising GDP, growing population, increasing disposable income, expanding base of middle class population, availability of capital and natural resources, and rapid urbanization. Growth in infrastructure construction is supported by the government focus on providing connectivity and public distribution networks such as communications, power, water and sewage.

As stated by the new market research report on Pipes and Pipe/Hose Fittings, Asia-Pacific represents the largest and the fastest growing market at a CAGR of 6.0% over the analysis period. Growth in the region is led by improvement in residential projects, development of public private sector partnerships in mega infrastructure projects and investments in transport and tourism infrastructure. Other major demand drivers include planned laying of natural gas distribution pipelines in several countries as well as advances in drainage and sewage systems and drinking water transfer systems.

Major players in the market include Advanced Drainage Systems Inc., Aliaxis SA, Amanco, AMERICAN Cast Iron Pipe Company, Arcelor Mittal, Chevron Phillips Chemical Company LLC, China Lesso Group Holdings Ltd., Eaton Hydraulics Group, Europipe GmbH, EVRAZ North America, Forterra, Inc., Georg Fischer Ltd., GF Piping Systems Ltd., Hancor Inc., Ipex Inc., JM Eagle™, Mexichem S.A.B. de C.V., NAPCO, Nibco Inc., Nippon Steel & Sumitomo Metal Corporation, PAO TMK, Performance Pipe, Pipelife International GmbH, Techint Group, Tenaris SA, Tessenderlo Group, Tigre SA, United States Steel Corporation, Uponor Corp., and Wavin Holding B.V., among others.

The research report titled “Pipes and Pipe/Hose Fittings - Market Analysis, Trends, and Forecasts” announced by Global Industry Analysts Inc., provides a comprehensive review of market trends, issues, drivers, company profiles, and strategic industry activities. The report provides market estimates and projections for all major geographic markets such as the US, Canada, Japan, Europe (France, Germany, Italy, UK, Spain, Russia and Rest of Europe), Asia-Pacific (China, India, South Korea, and Rest of Asia-Pacific), Middle East/Africa, and Latin America (Brazil and Rest of Latin America). Segments analyzed include Pipes (Concrete, Polyethylene, PVC, Steel and Other Pipes) and Pipe and Hose Fittings (Metal Flanges and Unions, Hydraulic Couplings and Other Fittings).

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