Industrial Pipe Jacks Market: Introduction
Advancements in the oil & gas and chemical industries has led to higher utilization of equipment such as industrial pipe jacks that are used for lifting, adjusting and positioning of pipes in varied fields. Industrial pipe jacks are generally used in labs or pilot industries for height adjustment purposes.
Industrial pipe jacks are expected to emerge as an essential equipment in the near future and are expected to find application in various end user industries including chemical, oil & gas, food & beverage, etc. Different types of industrial pipe jacks are available based on typical specifications and requirements including fixed leg pipe jacks, folding leg pipe jacks, Uno pipe jacks and rolling leg pipe jacks.
More recently, the demand for industrial pipe jacks is significantly propelled over the past few years owing to its high durability and resistance to hold heavy weights. Industrial pipe jacks are mostly used in the chemical and oil & gas industries to adjust and level the height of the pipes.
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Industrial Pipe Jacks Market: Market Dynamics
Ever growing end-use industries, such as oil & gas, chemical, pharmaceutical, food & beverage, etc., both in developing and developed economies is expected to be the prime factor responsible for the growth of the global industrial pipe jacks market over the forecast period. Moreover, industrial pipe jacks are ideal for pipe holding and leveling in typical complex designs and places. This is also anticipated to provide traction for the growth of industrial pipe jacks market in the coming decade.
Industrial pipe jacks generally require skilled workforce to operate which increases overall cost of operation. This factor is expected to act as a restraining factor to the growth of industrial pipe jacks market over the forecast period.
A major trend projected five years down the line includes market leaders both OEMs and dedicated industrial pipe jacks manufacturer are focusing on research and development (R&D) activities to develop advanced and efficient products. Moreover, the manufacturers are offering customized industrial pipe jacks based on customer demands to expand consumer base and market share in the global market.
Industrial Pipe Jacks Market: Segmentation
The global industrial pipe jacks market can be segmented on the basis of type, head type and end user.
Based on type, the global industrial pipe jacks market is segmented into:
Based on head type, the global industrial pipe jacks market is segmented into:
Based on end user, the global industrial pipe jacks market is segmented into:
Industrial Pipe Jacks Market: Regional Outlook
The regional demand dynamics is directly related with the demand from the end-use industries. Over the forecast period, Asia Pacific is expected to be closely followed by North America. Both of these markets are predicted to witness enormous growth in the industrial pipe jacks market owing to the expected growth in the automotive sector in emerging economies, such as the India, China and U.S. Western Europe is estimated to grow at a considerable CAGR during the forecast period due to upsurge in demand for industrial pipe jacks in the growing industrial sector in the region. Latin America is anticipated to witness the growth of industrial pipe jacks market over the forecast period. Middle East & Africa is probable to grow at a substantial CAGR during the forecast period owing to growth of oil & gas industries in the region.
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Industrial Pipe Jacks Market: Market Participants
Examples of some of the key participants identified across the value chain of the global industrial pipe jacks market include:
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