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Pipes and Pipe/Hose Fittings Market Landscape to 2034: Key Forces Shaping the Next Decade of Growth
Pipes and Pipe/Hose Fittings
How Large Will the Pipes and Pipe/Hose Fittings Market Size By 2025?
In recent times, the market size for pipes and pipe/hose fittings has seen significant growth. The market, which is estimated to be worth $315.79 billion in 2024, is projected to expand to $340.13 billion in 2025, signifying a compound annual growth rate (CAGR) of 7.7%. This past growth has been driven by factors such as water and wastewater management, oil and gas exploration, renewable energy initiatives, infrastructure rehabilitation, the global expansion of trade, and government spending on infrastructure.
How Big Is the Pipes and Pipe/Hose Fittings Market Size Expected to Grow by 2029?
The market size for pipes and pipe/hose fittings is projected to experience significant growth in the upcoming years, expanding to "$483.32 billion in 2029 with a compound annual growth rate (CAGR) of 9.2%. The surge anticipated in the forecast period is tied to factors such as initiatives for creating smart cities, utilization of circular economy practices, the increasing use of e-commerce for procurement, emphasis on water conservation, expansion in oil and gas infrastructure, and hydraulic fracturing (fracking) operations. Notable trends expected during the forecast period include the incorporation of 3d printing technologies, cutting-edge material innovations, customization aimed at specific applications, sanitary and hygienic solutions, intelligent pipe systems, and the digital transformation in manufacturing.
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Which Key Market Drivers Powering Pipes and Pipe/Hose Fittings Market Expansion and Growth?
The pipes and pipe/hose fittings market is predicted to surge owing to an anticipated rise in construction activities. This essentially pertains to the systematic erection* of structures. Pivotal to the construction sector, these pipes and hose fittings primarily aid in transporting fluids required in construction processes. For instance, TST Europe, a machinery parts manufacturing company based in Switzerland, revealed that in 2023, the total expenditure on construction reached $1.98 trillion, indicating a 7.4% growth compared to the previous year. Therefore, the augmentation in construction projects is expected to stimulate the growth of the pipes and pipe/hose fittings market.
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Which Fast-Growing Trends Are Poised to Disrupt the Pipes and Pipe/Hose Fittings Market?
In the pipes and pipe/hose fittings market, companies are focusing on thermoplastic pipe (RTP) innovations. In November 2023, US-based Baker Hughes Company introduced PythonPipe, a reinforced thermoplastic pipe technology that cuts installation time by 60%, improves durability, and significantly reduces carbon emissions in fluid transport systems.
What Are the Emerging Segments in the Pipes and Pipe/Hose Fittings Market?
The pipes and pipe/hose fittings market covered in this report is segmented -
1) By Type: Pipes, Fittings
2) By Technology: Compression Molding, Injection Molding, Thermoforming, Extrusion, Electro Fusion, Fabricated, Other Types
3) By Application: Water Supply, Pumps And Piping System, Drainage And Sewage Disposal, Sanitation, Transportation Pipes, Other Applications
Subsegments:
1) By Pipes: PVC Pipes, HDPE Pipes, CPVC Pipes, PEX Pipes, Metal Pipes, Composite Pipes
2) By Fittings: Elbow Fittings, Tee Fittings, Couplings, Reducers, Caps And Plugs, Flanges, Adapters
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Who Are the Global Leaders in the Pipes and Pipe/Hose Fittings Market?
Major companies operating in the pipes and pipe/hose fittings market include Advanced Drainage Systems Inc., Aliaxis Group, Amanco Company- Orbia, American Cast Iron Pipe Company, ArcelorMittal S.A., Chevron Phillips Chemical Company LLC, China Lesso Group Holdings Limited, Eaton Hydraulics Inc., EUROPIPE GmbH, EVRAZ plc, Forterra plc, Georg Fischer Ltd., GF Piping Systems Ltd., Hancor Inc., IPEX Inc., Nippon Steel & Sumitomo Metal Corporation, Nibco Inc., Tigre SA, JM Eagle Corporation, Tenaris SA, Sekisui Chemical Co. Ltd., Wienerberger AG, Pipelife International GmbH, Uponor Corporation, National Pipe and Plastics Inc., Rehau AG, Sika AG, Compagnie de Saint-Gobain S.A., Lubrizol Advanced Materials Inc., Victaulic Company
Which are the Top Profitable Regional Markets for the Pipes and Pipe/Hose Fittings Industry?
North America was the largest region in the pipe and pipe/hose fittings market in 2024. The regions covered in the pipes and pipe/hose fittings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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