Pipes and Pipe/Hose Fittings Global Market Report 2023
Jul 30, 2023
Major players in the pipes and pipe/hose fittings market are Advanced Drainage Systems Inc., Aliaxis Group, Amanco, American Cast Iron Pipe Company, ArcelorMittal S.A., Chevron Phillips Chemical Company LLC, China Lesso Group Holdings Limited, Eaton Hydraulics Inc.
New York, Aug. 04, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Pipes and Pipe/Hose Fittings Global Market Report 2023" - https://www.reportlinker.com/p06479814/?utm_source=GNW , EUROPIPE GmbH, EVRAZ North America, Forterra PLC., Georg Fischer Ltd., GF Piping Systems Ltd., Hancor Inc. and IPEX Inc.The global pipe and pipe/hose fittings market is expected to grow from $275.60 billion in 2022 to $295.95 billion in 2023 at a compound annual growth rate (CAGR) of 7.38%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The pipe and pipe/hose fittings market is expected to reach $397.63 billion in 2027 at a CAGR of 7.66%.The pipe and pipe/hose fittings market consists of sales of air hose connecters, couplings, adapter, valves, and others.Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers.The value of goods in this market includes related services sold by the creators of the goods.Pipes and pipe/hose fittings refer to the piping parts that support branch connections, size modifications, and directional changes in pipes. Pipe and pipe/hose fittings are frequently used for tubing and piping applications and for joining two hose sections or joining a hose to a tube.North America was the largest region in the pipe and pipe/hose fittings market in 2022. The regions covered in this report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.The main pipes and pipe/hose fittings types are pipes, and fittings.A pipe refers to a hollow cylinder structure made of metal, wood, or another material that is used to transport various substances.The various technologies are compression molding, injection molding, thermoforming, extrusion, electro fusion, fabricated, and others applied in water supply, pumps and piping system, drainage and sewage disposal, sanitation, transportation pipes, and others.An increase in construction projects is expected to propel the pipes and pipes/hose fittings market going forward.Construction projects refer to creating and building structures in an organized manner.Pipes and pipes/hose fittings are key components in the construction industry and are chiefly used for conveying fluids used in construction. For instance, in Oxford Economics, a UK-based forecasting and econometric analysis company, the global construction output grew by 6.6%, and the global construction output is expected to grow by 35% by 2030. Further, the global construction market is expected to grow by $4.5 trillion between 2020 and 2030, to reach $15.2 trillion. Therefore, an increase in construction projects will drive the growth of the pipes and pipe/hose fittings market.Product innovations are a key trend in the pipes and pipe/hose fittings market.Major companies in the pipes and pipe/hose fittings market are launching new and innovative products to strengthen their position in the pipes and pipe/hose fittings market.For instance, in October 2021, Wavin, a Netherlands-based infrastructure solutions company, launched the Wavin Tigris K5/M5, an innovative press fitting series with a unique acoustic leak alert feature. This new product can help with new water management methods for metal-plastic pipe connections.In July 2021, North American Pipe Corporation (NAPCO), a subsidiary of Westlake Chemical Corporation, a US-based pipes and fittings manufacturer, acquired LASCO Fittings, Inc. for an undisclosed amount. The acquisition will help NAPCO expand into new markets and will also help them specialize in half-inch to four-inch fittings to serve new markets. LASCO Fittings, Inc. is a US-based fittings manufacturer.The countries covered in the pipe and pipe/hose fittings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resale along the supply chain, either further along the supply chain or as part of other products.The pipes and pipe/hose fittings market research report is one of a series of new reports that provides pipes and pipe/hose fittings market statistics, including pipes and pipe/hose fittings industry global market size, regional shares, competitors with a pipes and pipe/hose fittings market share, detailed pipes and pipe/hose fittings market segments, market trends and opportunities, and any further data you may need to thrive in the pipes and pipe/hose fittings industry. This pipes and pipe/hose fittings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.Read the full report: https://www.reportlinker.com/p06479814/?utm_source=GNWAbout ReportlinkerReportLinker is an award-winning market research solution. 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