The pipe relining market was valued at US$ 7,789.5 Mn in 2019 and is expected to grow at a CAGR of 4.6% from 2020 to 2027 to reach US$ 11,084.5 Mn by 2027.
The exponential increase in population across geographies is expected to put the municipal infrastructure to be at risk in the near future. Thus, to improve the infrastructure the use of pipe relining is increasing, thereby propelling the growth of pipe relining market.
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Through continuous advancement of technology resulting in the development of superior equipment and technology-driven solutions has facilitated in enabling improved pipeline repair as well as maintenance related services. Among these, the cured-in-place pipe relining (CIPP) based solution type remains extensively accessible over conventional pipeline repair process as it offers evolutionary advantages in terms of costs, efforts, and efficiency of pipeline repair when compared with traditional methods that involved digging the damaged pipes. Furthermore, other solution types such as pull-in-place, pipe bursting, and internal pipe coating also have witnessed their adoption across different industry verticals over the years.
Pipe Relining Market: Companies Profiles
There are several benefits of proper sewage systems such as better quality of life and hygiene conditions, preserving the natural environment, saving and processing waters, economic development, reducing the risk of damage related to floods, and well as an increased standard of living. For this, the government of various economies is investing heavily in developing new sewage infrastructure as well as for the up-gradation of the old sewage infrastructure. However, government investments in the wastewater management and up gradation of sewage infrastructure is likely to provide new opportunities for pipe relining market.
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Merger & acquisition strategy is commonly adopted by companies in pipe relining market to expand their footprint worldwide and meet the growing demand. This strategy in pipe relining market is mostly observed in North America and Asia-Pacific. The players present in the pipe relining market adopt the strategy of expansion and investment in research and development to enlarge customer base across the world, which also permits the players to maintain their brand name globally. Few of the recent acquisitions in pipe relining market are listed below;
2019: Aegion Corporation announced that United Special Technical Services, LLC (“USTS”), a joint venture between United Pipeline Systems, Inc., a subsidiary of Aegion (“United”), and Special Technical Services LLC (“STS”) of Oman, was given two contracts with a combined value of approximately $11 million (USD) from local contractors working for a big oil and gas pipeline operator in Saudi Arabia.
2019: Roto-Rooter planned to purchase all of HSW RR Inc.’s franchise operations and western drain supply for $120 million. HSW is Roto-Rooter’s largest independent franchise operator, and its acquisition would be part of the company’s ongoing strategy of acquiring franchises to boost productivity, market share, and profitability.