Over the forecast period of 2022 to 2032, the global pipes market is expected to grow at a CAGR of 5.4 % to reach a valuation of US$ 225.5 Billion by the end of 2032. The pipe has applications in drain-waste-vent (DWV), sewers, water mains, water service lines, irrigation, conduit, and various industrial installations.
Significant demand for pipes in various industries and infrastructural development occurring in emerging economies are projected to drive the demand for pipes in the global market. The use of plumbing pipes in residential applications is mainly for the transportation of potable water and wastewater.
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Rising Application of Metal Pipes in Commercial Sector to Push the Sales by 5,553 Million by 2032
Commercial buildings such as hospitals, schools, office buildings, and retail stores often have specialized piping systems for different types of fluids. Industrial plants also have their own specific piping needs depending on the type of manufacturing process taking place.
Rising population is indirectly shaping the infrastructure across the globe. New and ongoing construction requires piping system, which in turn is expected to boost the demand for pipes over the coming years.
The market is witnessing growth due to the increasing demand for new build extensions and project investment in developing countries. The commercial segment is expected to hold the largest share and poised to expand at the highest CAGR during the forecast period.
Key Takeaways from Market Study
- By material type, the metal segment is expected to grow at a CAGR of 5.8% during the forecast period.
- By diameter, the metal segment is anticipated to dominate the market of pipes and is further expected to account for about 72.4% of the market share.
- By end-use, the commercial segment is projected create an absolute dollar opportunity worth US$ 32.67 Bn in between the forecast period.
- In terms of region, pipes sales in Europe are estimated to exhibit a CAGR of 4.7% over the forecast period (2022-2032).
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“Increasing residential and commercial infrastructure development coupled with growing construction activities, particularly in developing economies such as India and China will create remunerative growth opportunities for pipes manufacturers.” says a Future Market Insights analyst.
Key Segments Covered in Global Pipes Industry Analysis
Global Pipes Market by Material Type:
- Plastic
- Metal
- Composite
Global Pipes Market by Diameter:
- Plastic
- Metal
- Composite
Global Pipes Market by Sales Channel:
- Residential
- Commercial
- Industrial
- Composite
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