Copper Pipes and Tubes Market Poised for 3.2% CAGR Growth, Projected to Reach US$ 48.8 Billion by 2033

The copper pipes and tubes market is anticipated to experience a steady growth with a Compound Annual Growth Rate (CAGR) of 3.2% throughout the forecast period, leading to a market value of US$ 48.8 billion by 2033.

The market's expansion is primarily driven by the increased installation of HVAC units, a result of heightened construction activities. Furthermore, the utilization of copper pipes and tubes extends to charging stations and Electric Vehicles (EVs), aligning with the growing adoption of EVs due to environmental concerns.

Governments worldwide have introduced incentives and subsidies to encourage the adoption of EVs, further stimulating the demand for copper pipes and tubes. Additionally, these components play a crucial role in gas transportation, capitalizing on copper's impermeability to air and gas.

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Key Insights:

The copper pipes and tubes industry in the United States is projected to reach US$ 8.2 billion by 2033, with an anticipated CAGR of 3.1% during the forecast period. From 2018 to 2022, the market experienced a CAGR of 4.4%.
The United Kingdom's copper pipes and tubes industry is expected to achieve a valuation of US$ 1.8 billion by 2033, with a projected CAGR of 2.9%. In the preceding period, the market registered a CAGR of 4.2%.
The Chinese market stands out prominently within the top-tier copper pipes and tubes economies, projected to reach a valuation of US$ 10.4 billion by the end of 2033. The market is forecasted to expand at a CAGR of 3.1% from 2023 to 2033.
The Japanese market is estimated to be valued at US$ 9.4 billion by 2033, expected to grow at a CAGR of 3.1% over the next decade.
The South Korean copper pipes and tubes industry is anticipated to achieve a valuation of US$ 2.5 billion by the conclusion of 2033, with a projected CAGR of 2.8% during the assessment period.
In terms of end use, the HVAC segment is expected to lead, with an anticipated CAGR of 3%, compared to the historical period's CAGR of 4.1%.
The seamless copper pipes and tubes segment is forecasted to record a CAGR of 3.1% during the forecast period. In the historical period, this segment grew at a CAGR of 4.2%.

Key Market Players:

Furukawa Electric Co., Ltd.
Global Brass and Copper Holdings, Inc.
ElvalHalcor
Mueller Industries
Aurubis AG
Cerro Flow Products LLC
Fabrika bakarnih cevi A.D. Majdanpek
Foshan Huahong Copper Tube Co., Ltd
Cambridge-Lee Industries LLC
H & H Tube
Zhejiang Hailiang Co., Ltd.
Kobelco & Materials Copper Tube Co., Ltd.
MM Kembla
Mehta Tubes Ltd.
Qingdao Hongtai Copper Co., Ltd.

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Competitive Landscape:

In February 2023, Mettube Copper India Private Limited, the Indian subsidiary of the Malaysian firm, partnered with the Gujarat Government to establish a copper tube production facility in Sanand. The company plans to invest around INR 1,000 crore in the initial phase to set up the facility. The plant is expected to produce 5th Gen copper tubes, contributing to reducing carbon footprint in the future.
In January 2023, Lawton Tubes, a leading manufacturer of medical-grade copper tubes in the United Kingdom, announced its participation in Arab Health. The company has been a vital distributor of copper pipelines in and out of the United Kingdom, covering more than 35 countries. At the event, the company will highlight its role during the fight against COVID and discuss the potential of copper tubes for carrying medical gases.

Key Segments Profiled:

By Product Type:
Seamless
Welded

By End Use:
HVAC
Industrial Heat Exchange
Plumbing
Others

By Region:
North America
Latin America
Europe
Asia Pacific
The Middle East and Africa

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award - recipient market research organization, and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.

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This release was published on openPR.