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Competitive Pipes Market Sales Slated to Progress Steadily at 4% CAGR through 2029
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According to the comprehensive research and deep study conducted by PMR, replacement of damaged pipes is mandatory and the demand for replacement has been on a steady rise over the past few years across the globe. This has, in turn, led to the considerable growth of the competitive pipes market. Moreover, significant demand for competitive pipes from water use and water withdrawal applications is set to positively impact the growth of the global competitive pipes market during the forecast period.
Competitive Pipes Sales Gaining a Boost from Thriving Electronics & Telecom Industry
Competitive pipes made of steel have become a popular choice for several industry verticals that register significant demand for competitive pipes. Concrete pipes also find applications in industrial and household sectors, as concrete piping can fail under electrolysis, corrosion, or scale build-up in areas where soil, water, or atmospheric conditions are aggressive.
Since many companies are expanding their presence by opening new operation centers across the globe, the electronics and telecommunication industry is experiencing prompt growth. The expansion of electronics & telecommunication has resulted in increased demand for pipelines to protect underground cables. This global expansion of the electronics and telecommunication industry is expected to fuel the demand for competitive pipes over the forecast period.
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Competitive Pipes Market: Vendor Insights
Persistence Market Research's business analysis also highlights resourceful insights about the competitive structure of the competitive pipes market and typical approaches of prominent market players. The global market for competitive pipes is estimated to be fairly fragmented with leading players accounting for less than 40% of the total market. Some of the key players identified in the global competitive market are Tenaris S.A., GERDAU S.A., ThyssenKrupp AG, JFE Holdings Corporation, Vallourec S.A., Georg Fischer Ltd., JSW Steel Ltd., ArcelorMittal S.A., Welspun Group, Can Clay Corporation, Advanced Drainage Systems Novolipetsk Steel, and Tata Steel Limited, among others.
Furthermore, global leaders in the market are focusing on strengthening their position in the competitive pipes market through acquisitions and mergers with other medium and small-sized players. Primarily, the market participants are focusing on maintaining their position in the oil & gas industry by carrying out activities such as research and development, offering enhanced products, divestiture of assets, etc.
Asia Pacific is considered to be at the crucial helms, deciding the fate of various processes as well as discrete industries, and acting as a future driver for the competitive pipes market. Owing to factors such as rapid industrial growth, urbanization, stable political backdrop, and governmental regulations in various developing countries of Asia Pacific, the region is likely to account for a prominent market share in the competitive pipes market during the forecast period. Presence of global market players in the region and new entrants in merger & acquisition activities are pushing the competitive pipes market growth in the Asia Pacific region.
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