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 Bn 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.
Substantial demand for pipes in many industries and infrastructure development in emerging nations are expected to drive global demand for pipes. In residential applications, plumbing pipes are primarily used to deliver 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 facilities such as hospitals, schools, office buildings, and retail outlets frequently have specialised piping systems for different types of fluids. Depending on the sort of manufacturing process being used, industrial plants have unique pipe requirements.
The infrastructure of the world is being shaped indirectly by rising population. New and ongoing building necessitates piping systems, which is likely to increase demand for pipes in the future 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 Billion 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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