Pipes and Pipe/Hose Fittings Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Pipes and Pipe/Hose Fittings Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, August 8, 2024 /EINPresswire.com/ -- The global pipes and pipe/hose fittings market has demonstrated substantial growth, advancing from $295.95 billion in 2023 to $317.79 billion in 2024, marking a compound annual growth rate (CAGR) of 7.4%. This growth can be attributed to increased activities in water and wastewater management, oil and gas exploration, renewable energy projects, infrastructure rehabilitation, globalization of trade, and substantial government investments in infrastructure.

Growing Demand for Automotive and Infrastructure
The market is expected to continue its upward trajectory, reaching $433.97 billion by 2028 with a robust CAGR of 8.1%. This anticipated growth is driven by smart city initiatives, circular economy practices, the rise of e-commerce for procurement, water conservation efforts, expansion of oil and gas infrastructure, and hydraulic fracturing (fracking) operations. The automotive industry's increasing demand is also a key factor, as pipes and fittings are essential components in vehicles, contributing to their reliability, safety, and efficiency. For example, in August 2023, the total vehicle production in the U.S. rose to 11.77 million units, up from 10.91 million in June 2023, reflecting the automotive sector's growth and its impact on the pipes and fittings market.
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Key Players and Market Trends
Prominent companies such as Advanced Drainage Systems Inc., Aliaxis Group, and American Cast Iron Pipe Company are pivotal in the market. Product innovation remains a significant trend, with companies like Wavin launching new products like the Wavin Tigris K5/M5, which features an acoustic leak alert system for improved water management.

Trends Shaping the Future
Key trends include the integration of 3D printing technologies, advanced material innovations, customization for specific applications, hygienic and sanitary solutions, smart pipe systems, and digitalization in manufacturing. These innovations are set to enhance the functionality and efficiency of pipes and fittings, catering to evolving market needs.

Market Segmentation
• By Type: Pipes, Fittings
• By Technology: Compression Molding, Injection Molding, Thermoforming, Extrusion, Electro Fusion, Fabricated, Other Types
• By Application: Water Supply, Pumps And Piping System, Drainage And Sewage Disposal, Sanitation, Transportation Pipes, Other Applications

Regional Insights: North America Leading the Market
North America was the largest region in the pipes and pipe/hose fittings market in 2023. The region is anticipated to continue its dominance due to ongoing infrastructure development and a strong industrial base.

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Pipes and Pipe Or Hose Fittings Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Pipes and Pipe Or Hose Fittings Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on pipes and pipe or hose fittings market size, pipes and pipe or hose fittings market drivers and trends, pipes and pipe or hose fittings market major players, competitors' revenues, market positioning, and market growth across geographies. The pipes and pipe or hose fittings market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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