Global Pipes and Fittings Market is forecast to reach $8 billion by 2025, growing at a CAGR of 4.7% during the forecast period from 2020 to 2025. The Pipes and Fittings market is driven primarily by factors such as increasing urbanization leading to infrastructure growth, and growing demand towards plastic pipes. Moreover, the rising use of pipes and fittings in mining industries and chemical industries can help the market to grow further. Adoption of steel pipes and fittings by various industries can also help the market to rise significantly during the forecast period.
Piping material- Segment Analysis
Plastic pipes are expected to have a major share in the pipes and fittings market during the forecast period 2020-2025. With being anti-corrosive, highly economical and deployment in demanding applications, plastic pipes like PVC and PEX are highly dominating the pipes and fittings market. Due to rising demand towards water management systems, plastic pipes are causing more demands with respect to metal pipes. Withstanding high temperatures and pressure along with providing high insulation properties are the key factors driving the demand towards PVC pipes market by the chemical industries. Due to overcoming major issues of metal pipes, the plastic pipes are expected to dominate the market in the near future.
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Geography – Segment Analysis
APAC is expected to have major growth in the global Pipes and Fittings market during the forecast period from 2020 to 2025. The region is anticipated to hold a major market share in near future due to high government investments for infrastructure as well as demands in automobile industries. Key players like Hind ware and Muellar Industries have contributed for a major market share in the APAC region. During 2019, Indian government had announced of investment of $1.45 trillion towards infrastructure development over the next five years, thereby creating major demands for the pipes and fittings market.
Drivers – Pipes and Fittings Market
Increased investments towards infrastructure
Government investments for construction projects due to rapid urbanization is anticipated to mark a major rise towards the pipes and fittings market over the forecast 2020. Government is investing huge amounts towards infrastructure growth, thereby fueling the growth for plastic pipes due to their demanding applications such as in wires, cables, and water distribution systems. Huge investments of about $1.45 trillion by the Indian government towards infrastructure development has been acting as a major driver and fueling the pipes and fittings market.
Increased pipeline projects
With the rising growth towards pipeline projects, Oil and gas industry contributes for a major share in the pipes and fittings market. Permian Basin, one of the world’s largest oil fields have been contributing towards gas-related infrastructures due to rising gas production in the near future. In 2019, the company had confirmed its beginning of two major gas pipelines construction along with another pipeline on the way towards development. With growing gas pipeline projects, pipes and fittings market can expect to have a major market share in 2020. Major oil-based companies are continuously focusing towards pipeline projects, thereby driving the global pipes and fittings market.
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Challenges – Pipes and Fittings Market
Pipe leakage is a major issue faced in the pipes and fittings market. Due to its major applications in water distribution and sewage, leakages cause high investments by the end users, thereby leading to high maintenance. Water leakage causes a major problem leading to water wastage, thus increasing environmental as well as economic issues. With rising additional costs to avoid pipe leakages, the pipes and fittings market is getting hampered.
Partnerships and acquisitions along with product launches are the key strategies of the players in the Pipes and Fittings Market. The major key players in the Pipes and Fittings Market include Saint Gobain, Jaquar group, Aliaxis, Kohler Co., Grohe, Aluminum Roofline products, Charlotte Pipe and Foundry, Hindware, Alumasc Building Products, McAlpine and Co., Mcwane and Mueller industries.
In August 2019, IPEX, a subsidiary of an Aliaxis company acquired Silver line plastics (SLP), major manufacturers of plastic pipes. This acquisition was made for the expansion of their product line and also to strengthen up a leadership position in North America. By this collaboration, the association had expected to witness an expanded customer base.
In February 2020, Corys Investments LLC claimed of a joint venture in association with George Fischer (GF) Piping Systems. This joint venture had claimed to establish production of plastic pipes and fabricated fittings in Cairo. According to the CEO, this venture is made in order to provide improved service in Egypt.
Rapid urbanization has caused rise in infrastructure developments, thus leading to high market demands in plastic piping market across the globe.
Increased pipeline projects due to high gas infrastructure demands are majorly driving the pipes and fittings market.
With high demands from automotive sectors, fittings market is expected to rise in APAC region during the forecast period 2020-2025.
Related Reports :
A. Pipe Insulation Market
B. PVC Pipe Market
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