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 p...