Global Pipe Fittings Market Expected to Reach USD 39,905 Million by 2027, With a CAGR Of 5.1% | Growth Market Reports
PUNE, India, July 26, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports titled, "Global Pipe fittings Market by Material Types (Aluminum, Cast Iron, Copper, Glass, Plastic, Steel, and Others), Applications (Drainage and Sewage disposal, Pumps and Piping system, HVAC, Transportation Pipes, Water Supply, and Others), End-users (Agriculture, Industrial, Residential, and Others), Distribution Channel (Online, and Offline), and Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027", The global pipe fittings market was valued at USD 29,267 Mn in 2019 and is projected to reach USD 39,905 Mn by 2027, expanding at a CAGR of 5.1% during the forecast period. The market is primarily driven by increasing pipeline projects across the several countries, which is expected to boost the demand for pipe fittings among numerous industries.
Key Market Players Profiled in the Report
- Compagnie de Saint-Gobain
- Mueller Water Products, Inc.
- McWane, Inc.
- Charlotte Pipe and Foundry
- Ward Manufacturing LLC
- Core Pipe
- Plasson Industries Ltd
- Aliaxis Group SA
- ASC Engineered Solutions
- Aquatherm
- GF Piping Systems
- Viking Johnson
- AVK Holding A/S
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.
Highlights on the segments of the Pipe Fittings Market
Based on material types, the market is divided into aluminum, cast iron, copper, glass, plastic, and steel. The plastic pipe fittings segment held 34.09% share of the market in 2019, owing to wide applications of PVC and PE pipe fittings in several industrial and residential piping systems. Plastic pipe fittings are prominent fittings that and are available in socket weld (otherwise known as solvent weld) and threaded styles. Socket weld fittings are meant to be chemically welded in place, thus making installation quick and simple. Plastic pipes are usually dry, then marked as the solvent used to connect them works particularly quickly. Couplings are commonly used to link and connect straight lengths of pipe. Fittings can be provided in a range of materials common to plastic pipes, including PVC, RPVC, and CPVC. Common fittings in PVC pipe include elbows, reducers, covers, tables, waxes, joints, and crosses. The standard cross-sectional profile for most PVC pipe or tubing fittings is circular; however, other profile shapes available in the market are square PVC fittings. Increasing use of plastic pipe fittings in supplying drainage from residences to septic tanks and its rising usage for irrigation in fields is estimated to drive the plastic segment. The cast iron segment is anticipated to expand at a CAGR of 4.9% during the forecast period. This is attributed to government initiatives across the world to build smart city projects and improve clean drinking water access.
In terms of applications, the pipe fittings market is classified as drainage and sewage disposal, pumps and piping system, HVAC, transportation pipes, water supply, and others. The water supply segment accounted for 21.52% share of the market in 2019 and is expected to expand at a substantial CAGR during the forecast period, owing to rising urbanization in several developing countries, which is increasing infrastructural developments. Any pipe or tube designed to deliver drinking water to customers is considered as a water supply pipe. Large diameter pipes supply water to towns, smaller branch lines cater to street or groups of houses, and small diameter pipes located within individual buildings supply water to individual water outlets. The size of water pipes varies and can be as large as 3.65 meters in diameter or as small as 12.7 millimeters for individual outlets within a structure. Therefore, the pipe fittings for water supply pipes vary in shape and size, depending on the requirements. PVC, cast iron, copper, steel, concrete or burned clay are all typical materials used to make water pipes and its fittings. Individual water pipes can be joined together to form longer runs using pipe fittings such as flange, nipple, compression, or soldered connectors. Government initiatives for better water resources management to increase water supply to the growing population in is estimated to fuel the market.
Based on end-users, the market is categorized as agricultural, industrial, residential, and Others. The industrial segment accounted for 29.86% share of the market in 2019 and is anticipated to expand at a substantial CAGR during the forecast period. The industrial segment is further categorized into chemical industry, HVAC industry, oil & gas industry, power plants, and others. Pipe fittings have wide range of applications in numerous industry verticals such as power & energy, food & beverage, pharmaceuticals & biotech, semiconductor, pulp & paper, construction materials, and others. A large number of pipes are used in these industries to transfer liquids, gasses, slurries, and other solids and fluids from one place to another, and hence different categories of pipe fittings are used depending on the piping material used. Thus, pipe fittings play a pivotal role for the proper functioning of pipes and tubes in these industries for various applications. The industrial segment is anticipated to hold a significant market share, owing to rising need of transporting fluid, gas, and raw materials within the factory to complete the production process.
The residential segment is projected to expand at a significant pace during the forecast period, due to growing residential constructions in several countries, leading to high requirement for piping systems and fittings, which is expected to boost the market.
In terms of distribution channels, the pipe fittings market is bifurcated into offline and online. The offline segment accounted for 38.51% share of the market in 2019 and is expected to expand at a substantial CAGR during the forecast period. The online segment is expected to expand at considerable CAGR due to increasing e-commerce platforms across different industries resulting in high investments on e-commerce supply chain, which is expected to drive the segment during the forecast period.
Based on regions, the global pipe fittings market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe constituted 25.58% share of the global market in 2019 and is projected to expand at a substantial CAGR during the forecast period. Industrial developments across Asia Pacific and technological advancements in the piping industry in Europe are major factors propelling the global pipe fittings market in these regions
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Key Takeaways from the Study:
- Asia Pacific accounts for a significant share of the market, owing to rising residential construction activities and increased need for sanitation and water supply.
- Presence of key manufacturers of pipe fittings makes North America a highly attractive region. Moreover, product innovation offered by these players is anticipated to fuel the market in the coming years.
- The market in Europe is anticipated to grow at a significant CAGR during the forecast period, due to presence of natural gas projects, which require pipelines to transport natural gas from one place to another.
- Middle East & Africa is projected to grow at a considerable CAGR, due to government initiatives for water supply management along with rising number of commercial buildings, which make use of HVAC systems.
Read 251 Pages Research Report with Detailed ToC on "Global Pipe fittings Market by Material Types (Aluminum, Cast Iron, Copper, Glass, Plastic, Steel, and Others), Applications (Drainage and Sewage disposal, Pumps and Piping system, HVAC, Transportation Pipes, Water Supply, and Others), End-users (Agriculture, Industrial, Residential, and Others), Distribution Channel (Online, and Offline), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"
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Key Segments Covered
By Material Type
- Aluminium
- Cast iron
- Copper
- Glass
- Plastic
- PVC
- RPVC
- CPVC
- Others
- Steel
- Others
By Application
- Drainage and Sewage disposal
- Pumps and Piping system
- HVAC
- Transportation Pipes
- Water supply
- Others
By Enterprise Size
- Large Enterprise
- SMEs
By End-users
- Agriculture
- Industrial
- Chemical Industry
- HVAC industry
- Oil and Gas Industry
- Power Plants
- Others
- Residential
- Others
By Distribution Channel
- Online
- Offline
By Regions
- North America
- Europe
- Asia Pacific
- Latin America
- Middle East & Africa (MEA)
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