Pipe Fittings Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast

Pipe Fittings Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 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. Conversely, frequent leakages issues are a challenge to the market.

Currently, PVC pipes are used in every household for various purposes such as for supplying gas and water; therefore, growing urbanization is expected increase the demand for pipes and fitting. Rising population is encouraging government investments in construction projects is expected to boost the pipe fittings market during the forecast period. The usage of plastic pipes has become prominent for the distribution of wires, cables, and water, resulting in large infrastructure investments. The Government of India has invested approximately USD 1.45 trillion in infrastructure development, which has fueled the demand for pipes fittings across the nation. The pipe fittings market is expanding as a result of increased gas infrastructure initiatives.

The oil & gas industry extensively uses pipe fittings which has increased the demand for pipes across the industry. Various projects across the globe are taking place which is anticipated to boost the market growth. For instance, in 2020 the expansion of Golden Pass LNG Bidirectional Pipeline by Golden Pass Pipeline LLC began in Los Angeles and Texas, US. Greene Interconnect Project by Mountain Valley Pipeline, LLC in West Virginia, US is aimed at offering new interconnect on MVP to deliver 1 Bcf/d to Columbia Gas Transmission KA System. Also, the Mainline 300 Replacement Project by Columbia Gulf Transmission is an upgradation project in Kentucky, US. Under the project, replacement of 775 feet of 36-inch pipe in Menifee and Montgomery Counties, Kentucky is about to take place. Various government initiatives are also taking place in developing countries. For instance, the Government of

India is focusing on rural water management, and thus has introduced various initiatives such as the Pradhan Mantri Krishi Sichaiyee Yojana (PMKSY), which is expected to fuel the pipe fittings market in the country during the forecast period.

Pipelines carry large amounts of oil and natural gas as compared to rails, ships, and trucks. One of the advantages of transporting oil and natural gas through pipelines is process efficiency. Pipeline systems use relatively less energy to transport large amounts of oil as compared to other modes of transportation; thus, reducing transportation cost and risks caused during transportation. Additionally, transporting oil through pipelines is more eco-friendly than transporting oil through rails and tankers. Oil pipelines cause lesser pollution than other modes of transportation, as they are sealed and most run underground, which significantly reduces their carbon footprint.

The global water & wastewater equipment industry is growing significantly due to rising population, increasing manufacturing activity, rising irrigation, and surging oil & gas production. Most governments in developed and developing countries are building sewage treatment plants and modernizing old sewage treatment plants to meet the growing demand for processed food and consumer products.

Additionally, the use of pipes and fittings in the agriculture industry for cultivation requires large amounts of water supply, which increases the demand for PVC pipes for irrigation of agricultural fields, ultimately leading to the rise in the demand for pipe fittings for agricultural piping applications.

Market Trends, Drivers, Restraints, and Opportunities       

In-Depth Analysis of the Global Pipe fittings Market Historical, Current and Projected Market Size in Terms of Value Potential & Niche Segments and Regions Exhibiting Promising Growth Covered Industry Drivers, Restraints and Opportunities Covered in the Study Recent Industry Trends and Developments Competitive Landscape & Strategies of Key Players Neutral Perspective on From Global Pipe fittings Market Performance

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Market Segment Insights

By Material Type Segment 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.

By Applications Segment 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.

Inquiry- https://growthmarketreports.com/enquiry-before-buying/1209 Competitive Landscape Key players competing in the Asia Pacific bladder cancer therapeutics diagnostics market are Sanofi; Pfizer, Inc.; Novartis; Johnson & Johnson; GlaxoSmithKline; F. Hoffmann-La Roche Ltd; Endo Pharmaceuticals Inc.; Eli Lilly & Company; Bristol-Myers Squibb Company; and AstraZeneca Plc. Some of these players are adopting several market strategies including acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to increase their market shares.

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