The global industrial pipe market is projected to reach $21.7 billion by 2028, at a CAGR of 3.2% during 2023-2028. The growth of industrial pipe market is driven by increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development.
Some of the Key Questions answered in this exclusive report are:
Q.1 What are some of the most promising, high-growth opportunities for the industrial pipe market by end use industry (power generation, petrochemical, automotive, industrial processing, and others), material (steel, ductile iron, plastic, fiberglass reinforced (FRP), and others), diameter (small diameter pipes up to 15 inches, medium diameter pipes from 15 to 30 inches, and large diameter pipes of 30 inches and above), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace and why?
Q.3 What are the business risks and threats to the industrial pipe market?
Q.4 What are some changing demands of customers in the industrial pipe market?
Q.5 What are the new developments in the industrial pipe market? Which companies are leading these developments?
Q.6 What strategic initiatives are being implemented by key players for business growth?
Q.7 What are some of the competitive products and processes in this industrial pipe area and how big of a threat do they pose for loss of market share via product substitution?
Q.8 What M&A activity has occurred in the last 5 years in this industrial pipe market?
Emerging trends, which have a direct impact on the dynamics of the industry, include increasing use of premium and technically advanced pipe and increasing focus on pipe strength and durability.
Based on material, the industrial pipe market is segmented into steel pipe, ductile iron pipe, plastic pipe, fiberglass reinforced pipe, and others. The steel pipe segment accounted for the largest share of the market in 2023 and is expected to register the highest CAGR during the forecast period, due to increasing demand for steel pipes in power generation and petrochemical industries. Lucintel predicts that the plastic pipe material segment will witness the highest growth during the forecast period because of low cost, light weight and corrosion resistant.
APAC is expected to remain the largest market and witness the highest growth over the forecast period due to increasing infrastructure development, urbanization and government economic stimulus measures in this region.
Key Players in the industrial pipe market are Vallourec SA, TMK Group, Tenaris SA, China LESSO Group Holdings Limited, ArcelorMittal S.A., Orbia, Sekisui Chemical Co. Ltd., Advanced Drainage Systems, Inc., Saudi Arabian Amiantit Company, Northwest Pipe Company, and Future Pipe Industries.
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The report helps stakeholders understand the pulse of the market and provides them with information on key drivers, restraints, challenges, and opportunities for market growth. It would also help to understand the competitors better and gain more insights to improve their position in the business.
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