The market for pipes worldwide market was valued at US$ 127.2 billion in 2021 and is anticipated to grow at a CAGR of 5.4% to reach US$ 225.5 billion by 2032. The growth is being supported by increasing industrial application, and by the end of the forecast period, this segment is expected to hold more than 25.6% of the market share (2022-2032).
The demand for high-speed industrial, commercial, and residential construction is expected to grow, which will bolster the market for gas pipes. Additionally, there is a growing need for wastewater management in the municipal and industrial sectors. Governments are having to spend a lot of money on operating and maintaining water and wastewater management systems as well as installing new pipelines as a result.
China is expected to grow at a CAGR of 6.0% and accounts for more than 57.2% of the market share in 2022 across East Asia.
The pipes market in China is expected to witness double-digit growth in the residential and industrial sector. Rising household income rates, along with population migration from rural to urban areas, are expected to continue to drive demand for residential infrastructure.
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Increased emphasis on both public and private sector affordable housing will fuel the development in the residential and commercial infrastructure sectors. This is expected to boost the sales of the pipes in China.
Significant growth in the infrastructure and wastewater management industry and introduction of stringent government regulations are expected to positively impact the growth of the global pipes market over the coming years.
According to research, metal pipes remains the most popular material type. The segment is anticipated to remain dominant throughout the forecast period.
The metal pipes segment is set to grow with a CAGR of 5.8% and is estimated to create an absolute dollar opportunity worth US$ 151.9 Bn.
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Metal pipes hold huge potential in the global piping industry, with a competitive value market share over other pipe categories. These pipes are extensively used for the transmission of fluids such as water, oils, gas and chemicals, and also find application as structural members in construction, and mechanical industries, especially carbon steel, alloy steel, and stainless steel seamless pipes.
Also, the rising demand of pipes in residential sectors, large public infrastructure projects, and places such as hospitals, malls is crating lucrative growth prospects for the pipes market players.
Competitive landscape
The global pipes market is gaining momentum with the presence of several big and small-scale system developers, manufacturers, and service providers. Prominent pipe manufacturers are collaborating and partnering with different industries for better market opportunities.
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