Market Study on Expansion Joints: Piping & Expansion Application to Bring in High Revenue Streams

Market Study on Expansion Joints: Piping & Expansion Application to Bring in High Revenue Streams

NEW YORK, NEW YORK, UNITED STATES, February 7, 2023 /EINPresswire.com/ -- Expansion joint Market sale is anticipated to be worth US$ 1.65 billion in 2023, with consistent long-term projections, according to the latest insights by Persistence Market Research. The report estimates the market to expand at a value CAGR of 4.1% from 2023 to 2033. Expansion joint Market is estimated to reach a market valuation of US$ 2.5 billion by the end of 2033..

During the forecast period, increased industrial and technological progress in power production as well as rising investments in the infrastructure, chemical, and pharmaceutical sectors are significant factors that will drive market growth. 

The food processing, chemical, oil & gas, and pharmaceutical industries are key sectors due to their significant opportunities for joint application and the potential they present for investments across numerous market end-use sectors. 

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Key Takeaways from Market Study 

• By product type, the axial expansion joints segment is anticipated to witness prominent demand growth at 4% CAGR through 2033.
• By material, the stainless steel segment is projected to expand at a CAGR of 4.2% from 2023 to 2033.
• By application, the piping and expansion industry is estimated to hold a prominent volume share of 27.4% in 2023.
• By end use, the food industry is estimated to account for a high volume share of 34.8%.
• East Asia is set to witness substantial growth in the expansion joints market.

"The market for expansion joints is being fueled by rising industrialization, increasing investments in pipeline projects, growing pharmaceutical and food processing industries, and rising demand from the oil & gas sector, petrochemicals, and refineries. Prominent manufacturers in the market are introducing new and innovative products, which is anticipated to increase product demand over the coming years,” says a Persistence Market Research analyst. 

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Competitive Landscape 

Key manufacturers of expansion joints include

• Witzenmann
• Unaflex
• BOA Group
• Flexider
• Senior Flexonics Pathway
• Macoga
• Tofle
• Bellows
• EagleBurgmann
• Weldmac
• Technoflex
• Aerosun
• Baishun
• Beijing Hangtian Taizhou Bellows
• Liaoning Tian'an Containers.

To gain a competitive advantage in the industry, leading manufacturers are developing innovative expansion joint products. Market players are also heavily investing in expansions, mergers, acquisitions, and strategic partnerships to expand their global footprint and capture a larger customer base in this space. 

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More Valuable Insights on Offer 

Persistence Market Research, a research and consulting firm, has published a new market research report on the global expansion joints market that contains an industry analysis for 2018 to 2022 and an opportunity assessment for 2023 to 2033.  

The report provides an in-depth analysis of the market through different segments, namely product type, end use, application, material, and region. The report also provides supply and demand trends along with an overview of the parent market. 

For additional insights on how the expansion joints market will shape up over the decade, write to media@persistencemarketresearch.com

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About Persistence Market Research – Industrial Automation 

The Industrial Automation division of Persistence Market Research offers a novel approach and innovative perspective in analyzing the industrial automation market. Comprehensive coverage of capital, portable, process, construction, industrial, and special purpose machinery across the manufacturing sector and distinctive analysis of installed base, consumables, replacement, and USP-feature-application matrix make us a pioneering voice in the industry. We are preferred associates with established as well as budding industry stakeholders and channel partners when it comes to sustain, grow and identify new revenue prospects. 

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