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Trenchless Pipe Rehabilitation Market Outlook, Size, Insights And Overview 2024-2033
Trenchless Pipe Rehabilitation Market Outlook
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According to The Business Research Company's, The trenchless pipe rehabilitation market size has grown strongly in recent years. It will grow from $4.39 billion in 2023 to $4.69 billion in 2024 at a compound annual growth rate (CAGR) of 6.6%. The growth in the historic period can be attributed to an increase in spending by government and municipal corporations, an increasing need for sustainable infrastructure solutions, growing public awareness of the benefits of trenchless technology, increasing urbanization, and growth in trenchless pipe rehabilitation.
The trenchless pipe rehabilitation market size is expected to see strong growth in the next few years. It will grow to $6.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to increasing the infrastructure budget, an increase in infrastructure maintenance and repair demand, increasing use of cured-in-place pipe (CIPP) lining, demand for trenchless rehabilitation of pipes, and growth in municipalities and cities. Major trends in the forecast period include technological advancements, product innovations, the launch of its new petra platform, the adoption of IoT and sensor technology, and the incorporation of trenchless technology.
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Market Drivers and Trends:
The increasing demand for infrastructure rehabilitation is expected to propel the growth of the trenchless pipe rehabilitation market going forward. Infrastructure rehabilitation refers to repairing, restoring, and upgrading existing infrastructure systems to ensure continued functionality, safety, and efficiency. The demand for infrastructure rehabilitation is due to aging infrastructure, economic impact, environmental considerations, and sustainability goals. Trenchless pipe rehabilitation offers a minimally invasive, cost-effective, and environmentally friendly approach to infrastructure rehabilitation. It efficiently addresses the challenges of aging underground pipelines, contributing to the overall improvement and longevity of essential infrastructure systems. For instance, in August 2023, according to the American Road & Transportation Builders Association (ARTBA), a US-based government agency, more than 222,000 U.S. bridges need major repair work or should be replaced, representing 36% of all U.S. structures. Therefore, the increasing demand for infrastructure rehabilitation drives the trenchless pipe rehabilitation market.
Major companies operating in the trenchless pipe rehabilitation market are focused on developing technology such as UV-cured technology to enhance efficiency, reduce curing times, and improve the durability of pipe linings. UV-cured technology allows for faster project completion, minimizes the environmental impact, and is particularly effective in rehabilitating pipes in challenging environments, such as urban areas where minimizing disruption is crucial. For instance, in June 2024, United Felts LLC, a US-based company that offers trenchless pipe rehabilitation, launched a new UV-cured-in-place pipe (CIPP) portfolio for trenchless sewer rehabilitation. This portfolio leverages advanced UV curing technology, a significant innovation in the trenchless pipeline repair industry. It is designed to cater to various pipe sizes and conditions, offering a versatile solution for municipalities and contractors looking to rehabilitate aging or damaged sewer systems without requiring extensive excavation.
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Major Key Players of the Market:
Granite Construction Inc., Trelleborgs Gummifabriks AB, Michels Corporation, Roto-Rooter Group Inc., Insituform Technologies Inc., Ashimori Industry Co. Ltd., Vortex Companies LLC, Sewer Equipment Company, SPML Infra Ltd., Waterline Renewal Technologies Inc., NuFlow Technologies Inc., SAK Construction LLC, Spinello Companies, Hobas Pipe USA Inc., HK Solutions Group, AquaPipe, Impreg Group LLC, NordiTube Technologies SE, Amex Sanivar, Saertex Multicom GmbH, Pipe Restoration Technologies LLC
Trenchless Pipe Rehabilitation Market 2024 Key Insights:
• The trenchless pipe rehabilitation market size is expected to see strong growth in the next few years. It will grow to $6.13 billion in 2028 at a compound annual growth rate (CAGR) of 6.9%.
• Rising Infrastructure Rehabilitation Investments Fuel Growth In The Trenchless Pipe Market
• Innovative UV-Cured Technology Revolutionizes Trenchless Pipe Rehabilitation
• North America was the largest region in the trenchless pipe rehabilitation market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
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LinkedIn: https://in.linkedin.com/company/the-business-research-company
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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