Press release
Engineering Pipe Hanger and Support Market 2021 Expected to reach US$ 348 million with 74.8% CAGR Forecast to 2031
Engineering Pipe Hanger and Support Market 2021-2031
Global engineering pipe hanger and support sales are set to be valued at US$ 348 Mn in 2021, with balanced long-term projections, according to latest insights by Persistence Market Research. The report estimates the market to expand at around 4.8% CAGR from 2021 to 2031.
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Demand from midstream and downstream process in oil & gas refineries are expected to play a pivotal role in the utilization of this equipment. CAPEX investments in thermal and nuclear power generation, petrochemicals, and fertilizer plants are also projected to complement market growth over the coming years.
Due to the COVID-19 pandemic, the market is understood to have witnessed a plunge of nearly 2% in FY2020, but is expected to recover sharply over the next 3 quarters. Production activities as well as new investment projects for almost all end-use industries were stalled, thus affecting market expansion. Subsequent growth in the next fiscal is however projected to witness a V-shape recovery rate as economic activity goes back to pre-crisis levels.
Key Players:
The report has profiled some of the Important players prevalent in the global like – Piping Technology and Products Inc., Rilco, Bergen Pipe Support, National Pipe Hanger, Lisega SE, and PHD Manufacturing and more.
This report covers the sales volume, price, revenue, gross margin, manufacturers, suppliers, distributors, intermediaries, customers, historical growth and future perspectives in the Engineering Pipe Hanger and Support.
Key Takeaways from Market Study
Development of new technologies based on feedstock, such as light crude and mixed crude, is expected to positively impact supply, and adoption of COTC (crude oil to chemicals) is expected to gain popularity.
Demand for engineering pipe hangers and supports is rising due to increase in infrastructural need of people, which also includes power generation plants and other such end uses.
Companies are following the strategy of developing existing products for providing more strength to materials so that they can support the load of pipelines and the fluid flowing into them.
Undergoing research and development is being done by players in the market focusing on increasing the load bearing capacity of hangers and supports for transferring more fluid (oil and gas) through pipelines.
High demand from oil and gas refineries make capacity increment feasible
Variable spring hangers and supports bear less amount of load then constant hangers and supports, but vary according to requirement.
Installation and commissioning will see strong gain over other applications. The market will also see demand from Greenfield projects in power generation plants and other related end-use industries.
Power generation will be the leading end user due to expansion of generation capacities in thermal and nuclear power projects with the required infrastructure to support processes.
Due to global COVID-19 pandemic, there was a certain drop in Greenfield projects as well as in Brownfield projects in developed regions of Europe and North America. Demand for Greenfield projects are high for expanding business in emerging markets such as Asia Pacific.
Key manufacturers are continuously emphasizing on cash flow and driving investments to innovate products so as to achieve growth and generate revenue.
“Increasing demand from ongoing and forthcoming projects for expansion and new building of pipelines in end-use industries will ascend demand for engineering pipe hangers and supports,” says a Persistence Market Research analyst.
Region Coverage (Regional Production, Demand & Forecast by Countries etc.):
North America (U.S., Canada, Mexico)
Europe (Germany, U.K., France, Italy, Russia, Spain etc.)
Asia-Pacific (China, India, Japan, Southeast Asia etc.)
South America (Brazil, Argentina etc.)
Middle East & Africa (Saudi Araia, South Africa etc.)
Key Stakeholders
Engineering Pipe Hanger and Support Market Manufacturers
Engineering Pipe Hanger and Support Market Distributors/Traders/Wholesalers
Engineering Pipe Hanger and Support Market Subcomponent Manufacturers
Industry Association
Downstream Vendors
If you have any special requirements, please let us know and we will offer you the report as you want.
View Table of Contents, Figures, and Tables@ https://www.persistencemarketresearch.com/market-research/engineering-pipe-hanger-and-support-market/toc
Major Highlights of the Engineering Pipe Hanger and Support Market Report:
The Engineering Pipe Hanger and Support Market analysis report offers an in-depth study of the potential market growth opportunities and challenges.
The report dives deeper into the market and explains the dynamic factors bolstering market growth.
The report deeply assesses the current, historical market size, market share, and revenue growth rates to offer accurate market projections for the forecast period.
The report analyzes the Engineering Pipe Hanger and Support Market presence across major regions of the world.
It determines the production & consumption capacities and demand & supply dynamics of each regional market.
The report further illustrates the intense competition among the key market players and highlights their effective business expansion plans and strategies.
It provides company overview and SWOT analysis of each of the market players.
Key Questions Answered in This Report.
What will the Market growth rate in Future?
What are the key factors driving the global Market?
Who are the key manufacturers in Market space?
What are the opportunities and threats faced by the vendors in the global industry?
What are sales, revenue, and price analysis by regions of industry?
If you have any special requirements, please let us know and we will offer you the report as you want and also We Provide you Table of Content.
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Media Contact:
Persistence Market Research
305 Broadway,7th Floor New York City, NY 10007 United States
Call +1-646-568-7751
Call +1 800-961-0353
sales@persistencemarketresearch.com
About PersistenceMarketResearch:
PersistenceMarketResearch is an esteemed company with a reputation of serving clients across domains of information technology (IT), healthcare, and chemicals. Our analysts undertake painstaking primary and secondary research to provide a seamless report with a 360 degree perspective. Data is compared against reputed organizations, trustworthy databases, and international surveys for producing impeccable reports backed with graphical and statistical information.
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