Press release
Steam Condensate Piping Market Fastest-Growing Regions Analysis Till 2031 | Grows at a CAGR of 3.3%
Steam Condensate Piping Market
Extensive use in various industrial applications such as sterilization, chemical cracking, and other heating processes and widening applications in industries such as paper & pulp, oil & gas refining, food processing, and others drive the growth of the global steam condensate piping market. Moreover, supportive government initiatives that include phase out old coal-fired power plants and the replacement with new natural gas-fired power plants present new opportunities in the coming years.
According to the report, the global steam condensate piping industry generated $4.3 billion in 2020, and is expected to reach $6.3 billion by 2031, witnessing a CAGR of 3.3% from 2022 to 2031.
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Driving Factors:
Commonly observed piping material types of steam condensate piping are stainless steel, carbon steel, and other materials. Among these, the carbon steel segment accounted for the highest market share in 2020, owing to its many advantageous features such as high ductility and high resistivity toward corrosion.
Further, the market is analyzed with respect to different applications such as industrial and commercial. The steam condensate piping industry is mainly driven by rise in investments in petrochemical processing plants, power plants, and other manufacturing industries.
Furthermore, availability of a wide range of piping solutions also propels growth of the market. However, high overall maintenance cost of steam condensate piping system is expected to restrain the steam condensate piping market growth.
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Key Segments:
By Piping Material
Stainless Steel
Carbon Steel
Others
Steam Condensate Piping Market By Application
By Application
Commercial
Industrial
Steam Condensate Piping Market By Region
By Region
North America (U.S., Canada, Mexico)
Europe (France, Germany, Italy, United Kingdom, Rest of Europe)
Asia-Pacific (China, Japan, India, South Korea, Rest Of Asia Pacific)
LAMEA (Latin America, Middle East, Africa)
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Top Players:
Tubacex S.A, Threeway Steel Co., Ltd., Jindal Saw Ltd., Metline Industries, Steelmor Industries, Nippon Steel Corporation, Mueller Industries, Inc., Shandong Rigang Metal Material Co., Ltd, voestalpine AG, Zenith Steel Pipes & Industries Limited
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