Water and Wastewater Pipe Market is expected to gain an unprecedented volume of USD 87,394.0 Million by 2023 with a CAGR of 6.53%
ID: 1760445
Global Water and Wastewater Pipe Market is Expected to Expand at 6.53% CAGR during the forecast period.
Key Competitors:
The key players of global water and wastewater pipe market are Aliaxis Group SA/NV (Belgium), Saint-Gobain Group (Germany), Mexichem S.A.B. de C.V. (Mexico), Tenaris (US), Tyman plc. (US), CEMEX S.A.B. de C.V. (Mexico), JM EAGLE, INC. (US), Future Pipe Industries (UAE), CHINA LESSO (China), National Pipe & Plastics (US), AMERICAN (US).
Segmental Analysis
The global water and wastewater pipe market is segmented based on material type and application.
Based on the material type, the global water and wastewater pipe market is segmented into plastic pipe, metal pipe, concrete pipe, and clay pipe. The plastic pipe segment dominated the market and was valued at USD 48,810.8 million in 2018. This value can reach USD 72,848.1 million by 2024. Meanwhile, the metal segment is witnessing significant growth and is expected to attain 6.91% CAGR during the forecast period.
On the basis of application, the global water and wastewater pipe market is segmented into municipal, indsutrial and agricultural. In 2018, the municipal segment held the maximum market share and enjoyed a valuation of USD 48,586.2 million. This valuation can rise to USD 72,112.0 million by 2024. This segment is expected to grow with the fastest CAGR of 6.81% during the forecast period.
Regional Analysis
Geographic analysis of the global water and wastewater pipe market spans across North America, Europe, Asia Pacific (APAC), South America, and the Middle East & Africa.
In 2018, Asia-Pacific was the leading market with a market valuation of USD 37,682.8 million. The regional market value is expected to reach USD 56,305.1 million by 2024 with an impressive 6.93% CAGR during the forecast period. The growth of the infrastructure and construction industries and the improvement in the financial conditions in this region have led to the rise in demand for water and wastewater pipes. Moreover, the rapid industrialization and urbanization in emerging economies, such as China, India, and Japan, is also boosting the growth of the water and wastewater pipe market. Furthermore, activities such as refurbishing, and renovation of old buildings have increased investments in the infrastructure and construction industries, fueling the demand for water and wastewater pipes in the region. Additionally, according to Singapore Press Holdings, the GDP in Asia-Pacific is anticipated to reach USD 517 billion by 2021 and grow by 1%, annually, due to the digital transformation in the manufacturing industry. The growing manufacturing industry, across the region, is expected to generate demand for water and wastewater pipes.
In 2018, North America held the second largest market share in the water and wastewater pipe market due to significant growth in the construction industry, owing to the increase in real estate investments. With the business hubs becoming overpopulated, there has been a rise in the number of commercial buildings, such as commercial complexes and offices, creating demand for new complexes. Moreover, the growing oil & gas industry creates a demand for water and wastewater pipes. The total volume of crude oil production in the country was 10950.37 barrels/day in 2018, which was higher than the volume produced in the previous year. Various processing industries such as food & beverages, chemicals, and pharmaceutical, across the region has a significant growth. Such factors enables the growth of the water and wastewater pipe market. In 2018, the regional market was valued at USD 20,620.6 million, which is expected to reach USD 30,178.5 million by 2024 with a 6.56% CAGR during the forecast period.
Industry Updates
In April 2019, FPI introduced its Fiberstrong product range, which includes a 3° angularly deflected double bell coupling joint. The joint eliminates the need for small angle elbows and increases the potential for large angle elbows. This deflection joint removes the associated civil work and accessories from a pipeline resulting in a reduction in the total project cost and potential indirect rework in coupling joint piping system installations.
In February 2019, Tenaris established a new facility in Abu Dhabi, which has a 25,000 sq.m. storage area that can store ten kilotons of products and has an inspection line that can process more than 150 connections, per day.
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Datum: 09.10.2019 - 12:02 Uhr
Sprache: Deutsch
News-ID 1760445
Anzahl Zeichen: 5252
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