Press release
Pipe Threading Machine Market to Witness Exponential Growth by 2026
The global pipe threading machine market is primarily driven by the increasing mining activities and growth in the process industries such as chemicals, petrochemicals and pharmaceuticals where the piping and instrumentation is a core part and requires maintenance time to time. The demand from the construction industry is also expected to propel the market for pipe threading machines with new commercial and residential building being built in the developed and developing regions. There are availability of new pipe threading machine in the market capable of threading and cutting the pipe using a single tool, further it can be used for threading of different sizes of pipes. However, the regular requirement of maintenance for pipe threading machines might pose as a restraint for the market.
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Global Pipe Threading Machine Market: Regional Outlook
Based on the geographic regions, global pipe threading machine market is segmented into seven key market segments namely North America, Latin America, Western Europe, Eastern Europe, APEJ, Japan, and Middle East & Africa. Among the aforementioned regions, the APEJ market dominates the global market for pipe threading machine due to the rapid industrialization in the region. The dominance of mining industries in the North America and Latina America region can be attributed to the growth of pipe threading machines market in these regions. The construction activities in the Middle East region is expected to propel demand for pipe threading machines in the Middle East region. Overall, the global market for pipe threading machine will register a single digit CAGR over the forecast period.
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Global Pipe Threading Machine Market: Key Players
Some of the key players identified in the global pipe threading machine market are W.W. Grainger, Inc., United Machine Tools India, Superior Threading Inc., Industrial Machinery Corporation, Hangzhou Hongli Pipe Machinery Co., Ltd., and Wheeler-Rex Inc. among others.
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