Market Research Blog

The global lightweight compact wheel loader market is estimated to expand at a sluggish pace, reaching the valuation of US$ 2.03 Bn in 2030. Lightweight compact wheel loaders are emerging as preferred equipment on job sites for many projects, a regular-sized wheel loader may be very large for the worksite. In these cases, lightweight compact wheel loaders offer the perfect option of size, power, and capabilities.

The global lightweight compact wheel loader market is estimated to reach US$ 2.03 Bn by 2030 in comparison to US$ 1.61 Bn registered in 2021. Increasing introduction of novel lightweight compact wheel loaders with integrated advanced technologies such as telematics is expected to favor the growth in the market.

As per the recent survey by FMI, sales in the global lightweight compact wheel loader market are projected to total US$ 1.64 Bn by 2022, exhibiting growth at 2.7% CAGR over the forecast period 2022-2030.

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Key Takeaways of Lightweight Compact Wheel Loader Market Study

• Remote-controlled lightweight compact wheel loaders are the most recent development in the compact wheel loaders market. Remote controlled compact wheel loaders remove the human element from the production face to avoid accidents. Further, they increase an operator’s quality of life, as the person is working in an office environment instead of underground.
• In the global lightweight compact wheel loader market, compact track loader is expected to hold approximately a third of market share.
• Renting a wheel loader has been identified as a new trend in the global market. Skid steer loaders and compact track loaders are gaining attention in the rental market.
• Manufacturers are offering lightweight compact wheel loader with advanced features and functionality, designed specifically for the rental market to meet user demand for improved operator environment, control, and comfort.

The COVID-19 or coronavirus pandemic has affected a majority of the countries in Europe and Asia, with North America expected to follow soon. The pandemic is causing shutdowns of industrial and commercial activities, drastically hampering the global economy. Long-term supply contracts of the lightweight compact wheel loaders are affected. Recovery will be gradual.

Market Landscape Moving Towards Consolidation

The lightweight compact wheel loader market is expected to dominate by tier-I manufacturers. Tier-I players are focusing on the expansion of their footprints by increasing distribution channels in various regions and establishing manufacturing units. Some prominent players involved in the global lightweight compact wheel loader market are shifting their focus on technological development, product development, and acquisition.

For instance, in 2019, CNH Industrial N.V. developed a new compact wheel loaders with electrohydraulic controls. With more than 20 electrohydraulic actuators and 20 sensors installed on the machine, this technology improves operator controllability and provides an option to select different operating modes.

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Lightweight Compact Wheel Loader Market Taxonomy

Product

• Compact Track loaders
• Skid Steer Loaders
• Backhoe Loaders
• Wheeled Loaders

Application

• Construction
• Agriculture & Forestry
• Industrial
• Utilities
• Facility/ Property management

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• MEA

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Lightweight Compact Wheel Loader Market Structure Analysis

The global lightweight compact wheel loaders market is highly competitive due to presence of large number of players. Doosan Corporation, Wacker Neuson SE, Hitachi Construction Machinery Co. Ltd, CNH Industrial N.V., are Tier-I players involved the global lightweight compact wheel loader market.

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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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Nowadays, automotive engines require excessively large oil flow, especially at low engine speed, since conventional unregulated pumps lead to substantial losses at higher speed, as the pump’s output depends on engine speed. For effective automotive piston cooling and lubrication, automotive variable oil pumps precisely provide the correct quantity of oil in all conditions, and also help reduce torque absorption in non-critical working points. These pumps also reduce carbon emissions and fuel consumption along the way.

Sales in the global automotive variable oil pump market are slated to top US$ 8.5 Bn in 2022. Expanding at a healthy 2.9% CAGR, the market size is projected to total US$ 10.6 Bn by 2030.

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Key Takeaways of Automotive Variable Oil Pump Market Study

• Conventional gear pumps controlled with dissipative systems are being replaced by variable oil pumps that can control oil flow rate and pressure without any energy loss.
• By regulating the flow of oil at variable pressures, heat transfer can be optimized in the piston and head of the engine. This results in reducing the formation of carbon deposits in the engine. This is one of the key factors that is driving the demand for automotive variable oil pumps.
• Automotive variable oil pumps are able to aid 2% fuel savings on consumers drive cycles as compared to conventional engine oil pumps.
• Western Europe and North America are expected to hold a substantial market share in the global automotive variable oil pump market through 2030.

“Automotive variable oil pumps offer better fuel efficiency and lower carbon emissions as compared to conventional oil pumps. This feature is playing a key role in positively influencing market growth. Moreover, increasing automotive production will further drive the growth of the global automotive variable oil pump market.”

Automotive Variable Oil Pump Market: Participant Insights

The automotive variable oil pump market is fairly competitive, with the presence of key market participants that have expertise in advanced manufacturing techniques. Market stakeholders in developing markets are poised to expand their business operations and increase value-addition in their product offerings through portfolio rationalization. Furthermore, to endure in the long run, product innovation is one of the key strategies being adopted by market players.

Some of the key market participants in the global automotive variable oil pump market are Continental AG, KSPG AG, Denso Corporation, and Robert Bosch GmbH.

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AUTOMOTIVE VARIABLE OIL PUMP MARKET TAXONOMY

The global automotive variable oil pump market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the readers.

Fuel Type

• Gasoline
• Diesel
• Hybrid

Sales Channel

• OEMs
• Aftermarket

Vehicle Type

• Passenger Cars
• LCVs
• HCVs

Region

• North America
• Latin America
• Western Europe
• Eastern Europe
• Japan
• APEJ
• Middle East & Africa

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Market Outlook

As disposable income has increased significantly across various developing nations, the demand for passenger vehicles has grown. Furthermore, the demand for high-performance automotive vehicles has also risen. This has resulted in increasing the demand for automotive variable oil pumps in heavy and light commercial vehicles. A number of automotive variable oil pump suppliers have long-term supplier contracts with OEMs, as per their specific requirements.

More Insights on Automotive Variable Oil Pump Market 

Future Market Insights (FMI) has published a new market research study on the automotive variable oil pump market, which comprises global industry analysis of 2015-2021 and opportunity assessment for 2022-2030. The report provides a perceptive study of the global automotive variable oil pump market through four different segments – fuel type, vehicle type, sales channel, and region. The report deliberates on product usage in various vehicle types, prevailing trends, and technologies. Moreover the study also offers inclusive supply chain analysis pertaining to product usage; procurement and pricing analysis has also been presented in this report.

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
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Two wheeler batteries are installed in both, IC engine-propelled as well as in electric two wheelers, to operate the electric parts of the vehicle. In electric two wheelers, batteries are used to power the engine and transmission of the vehicle. Rising demand for two wheelers, including electric two wheelers, sports bikes, and cruiser bikes, is anticipated to create significant growth opportunities for two wheeler lead acid batteries through 2029.

According to a new research report published by Future Market Insights (FMI), the global two wheeler lead acid batteries market is estimated to exhibit a healthy 5.8% CAGR from 2022 to 2029, to reach a valuation of more than US$ 7.3 Bn by the end of 2029.

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Key Takeaways of Two Wheeler Lead Acid Batteries Market Study

1. South Asia and East Asia are anticipated to emerge as regions holding substantial market share in the coming years. Large existing fleet and high sales of two wheelers are anticipated to bolster growth in these regions.
2. The aftermarket segment is expected to grow at a considerable pace, owing to scheduled replacement of the current fleet, increasing use of two wheelers, and growing consumer preference for electric vehicles.
3. Key players are focusing on partnerships with local servicing stations, distributors, and automotive OEMs to promote their products.
4. Improving product quality by implementing innovative technologies in the manufacturing process and producing a wide category of products according to the specific demand of customers is vital for market players.
5. Entering into long-term contracts with end users can provide stability in revenue generation and growth opportunities for market participants.

“Maintenance cost for the battery and prolonged operational life are the key considerations while procuring two wheeler lead acid batteries. In a majority of cases, flooded batteries are replaced with VRLA batteries, owing to their maintenance-free operation and longer lifespan.”

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Two Wheeler Lead Acid Batteries Market: Competitive Landscape

The two wheeler lead acid batteries market is fragmented in nature, owing to the presence of several battery providers across the globe. Tianneng Battery Group Co., Ltd., GS Yuasa, and Chaowei Power Holdings Limited are considered to be the leading players in the two wheeler lead acid batteries market. A majority of market players are strengthening their sales network to improve in the aftermarket segment. They are also focusing on manufacturing durable products at competitive prices.

TWO WHEELER LEAD ACID BATTERIES MARKET TAXONOMY

The global two wheeler lead acid batteries market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

capacity

• Less than 5 AH
• 5 AH to 10 AH
• 10 AH to 20 AH
• Above 20 AH

Technology

• I.C. Engine
  • Up to 150 CC
  • 151 -300 CC
  • 301 -500 CC
  • Above 500 CC
• Electric

Two Wheeler

• Motorcycles
  • Standard
  • Cruisers
  • Sports
  • Mopeds
  • Electric
• Scooters
  • Standard
  • Maxi
  • Enclosed
  • Three-wheeled
  • Electric

Battery Type

• VRLA Batteries
• Flooded

Sales Channel

• OEMs
• Aftermarket

Region

• North America
• Latin America
• Europe
• South Asia Pacific
• East Asia
• Middle East & Africa

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Table Of Content

1. Executive Summary

1.1. Global Market Outlook

1.2. Global Market Snapshot

1.3. Demand Side Trends

1.4. Supply Side Trends

1.5. Analysis and Recommendations

2. Market Overview

2.1. Market Coverage / Taxonomy

2.2. Market Definition / Scope / Limitations

3. Key Success Factors

3.1. Product Adoption / Usage Analysis

3.2. Product USPs / Features

3.3. Strategic Promotional Strategies

4. Global Two Wheeler Lead Acid Batteries Market Demand Analysis 2014-2018 and Forecast, 2019-2029

4.1. Historical Market Volume (Mn Units) Analysis, 2014-2018

4.2. Current and Future Market Volume (Mn Units) Projections, 2019-2029

4.3. Y-o-Y Growth Trend Analysis

Rising Traffic Congestion and High Cost of Gasoline Pushing Sales of Two Wheelers

Extensive use of two wheelers in developing countries such as India and China to tackle problems such as traffic congestion, poor condition of roads in rural areas, and high gasoline prices are all expected to fortify the growth of the two wheeler lead acid batteries market space.

More Valuable Insights on Two Wheeler Lead Acid Batteries Market

FMI’s research on the two wheeler lead acid batteries market is segmented into six major segments – capacity, technology, two wheeler, battery type, sales channel, and region. This extensive segmentation of the market helps readers evaluate the lucrative opportunities that are present and will appear over the coming years in the global two wheeler lead acid batteries market.

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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Passenger traffic in the aircraft industry continues to register growth rates above historical averages, supported by the reduced price of travel and increasing middle-class population in developing markets. This rise is playing a crucial role in driving the growth of the global aircraft tube and duct assemblies market.

The global aircraft tube and duct assemblies market is projected to expand at a CAGR of 4.4% during the forecast period of 2022-2030.

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Key Takeaways of Aircraft Tube and Duct Assemblies Market Study

• Aerospace industry is increasing the usage of aluminum in aircraft tube and duct assemblies, as aluminum is a lightweight and high-strength material. In the global aircraft tube and duct assemblies market, aluminum holds approximately one-third market share.
• Tier-I manufacturers operating in the global aircraft tube and duct assemblies market are Eaton, Exotic Metals Forming, Leggett & Platt, Incorporated, and PFW Aerospace GmbH. On the other hand, AMETEK. Inc., Smiths Group PLC, Sigma Precision Components Ltd., and some other players are estimated to stand in the tier-II bracket in the global aircraft tube and duct assemblies market.
• Key players are focusing on the expansion of their footprints by establishing manufacturing units and distribution channels in various regions.
• Global defense spending is at a high record. The biggest spenders on defense are the U.S., China, France, Saudi Arabia, and India. Implementation of advanced, combat, and stealth-based aircraft procurement programs has augmented military spending, worldwide. This growing trend is expected to upsurge the demand for aircraft tube and duct assemblies.
• Development of lightweight materials and increasing sales of aircraft are anticipated to drive the growth of the market over the forecast period.

“Original equipment manufacturers (OEMs) are projected to hold more than 90% share in the global market, as the replacement of tube and duct assemblies is found to be very limited.”

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AIRCRAFT TUBE AND DUCT ASSEMBLIES MARKET TAXONOMY

Application

• Engine Bleeds
• Thermal Anti-ice
• Pylon Ducting (HVAC) Enamel
• Fuselages
• Inlets/Exhausts
• Environment Control Systems (ECS)
• Lavatories
• Waste Systems

Aircraft Type

• Commercial Aircraft
  • Narrow Body Aircraft
  • Wide Body Aircraft
  • Regional Jets
  • Freighters
• Military Aircraft

Material

• Steel
• Nickel
• Titanium
• Aluminum
• Composite
• Inconel

Sales Channel

• OEMs
• Aftermarket

Region

• North America
• Latin America
• Europe
• South Asia
• East Asia
• Oceania
• MEA

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Market Landscape Moving towards Consolidation

The aircraft tube and duct assemblies market is expected to be dominated by tier-I manufacturers, who hold more than 50% share of the global market. Prominent players involved in the global aircraft tube and duct assemblies market are shifting their focus on repair solutions rather than replacement products with full-service. This has resulted in providing approximately 50 percent or more cost reduction.

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
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The global automotive aftermarket industry is expected to witness a shift towards proprietary channels and partnerships, via e-Commerce platforms in particular. The automotive aftermarket scenario indicates that, currently, around half of the revenue comes from wear and tear parts, which include mechanical performance tuning components such as fuel pumps, fuel injectors, brake shoes, and suspension bushes. Steadily increasing fleet of passenger vehicles and aftermarket expansion activities by OEMs are expected to significantly contribute to the demand for mechanical performance tuning components across the globe.

Though the global automotive industry is witnessing fluctuating growth, the mechanical performance tuning components market is projected to exhibit a moderate CAGR of around 4% over the period of 2022-2029, to reach a valuation of US$ 260.7 Bn by the end of 2029, as per the latest report by FMI.

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Key Takeaways from Mechanical Performance Tuning Components Market Study

• As per our findings, out of every 10 mechanical performance tuning components sold, 9 are more likely to be sold by small- or medium-sized players.
• Demand for independent and authorized service providers changes regionally. For example, most consumers prefer authorized stations in North America, in stark contrast to the trend seen in the Middle East and Africa.
• It has also been observed that, most car owners prefer authorized service stations until the end of the warranty period. After that, independent service stations are preferred by end users owing to reduced costs.
• Awareness among customers about tuning services plays a key role in the mechanical performance tuning components market. Market participants are conducting technical training and product description sessions to boost awareness.
• In a few countries, significant rise in the demand for used cars has also been observed among middle income people. Certain performance parts are more likely to get replaced at the time of purchase of a used car.
• Driving enthusiasts prefer to upgrade their vehicles by consistently modifying them with better performance parts. High fitment rate observed, particularly in SUVs and luxury vehicles, strengthens the demand for mechanical performance tuning components.

“As customers are becoming more quality- and performance-conscious, spending on the maintenance of vehicles is increasing. Higher rate of vehicle ownership among younger age groups that prefer preventive maintenance over repairs will positively impact the mechanical performance tuning components market.”

Mechanical Performance Tuning Components Market: Competition Overview

The global mechanical performance tuning components market is highly fragmented, with the presence of a large number of small- and medium-sized players actively operating in the global market. Zf, Continental AG, Hitachi, Delphi, and Robert Bosch GmbH are identified as prominent players in the global mechanical performance tuning components market. Opening authorized centers and offering extended warranty at optimum price are key growth strategies being adopted by market participants.

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MECHANICAL PERFORMANCE TUNING COMPONENTS MARKET TAXONOMY

The global mechanical performance tuning components market is segmented in detail to cover every aspect of the market and present complete market intelligence to the reader.

Product Type

• Engine
  • Engine Oil
  • Oil Filters
  • Cam Pulleys
  • Engine Mounts
• Transmission
  • Transmission Belts
  • Gear Oil
  • Turbochargers
  • Flywheels
  • Pressure Plates
  • Throttle Cables
  • Transmission Oil Pumps
• Fuel System
  • Fuel Injectors
  • Fuel Pumps
  • Spark Plugs
  • Glow Plugs
  • Fuel Filters
  • Air Filters
• Brake
  • Brake Oil
  • Brake Liners
  • Master Cylinders
  • Brake Calipers
  • Brake Shoes
• Body & Suspension
  • Sway Bars
  • Shock Absorbers
  • Suspension Bushes
• Exhaust Mufflers

Vehicle

• Passenger Vehicles
• Light Commercial Vehicles
• Heavy Commercial Vehicles

Distribution Channel

• Authorised Service Stations
• Independent Service Stations

Region

• North America
• Latin America
• Europe
• East Asia
• South Asia
• Middle East & Africa
• Oceania

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Table Of Content

1. Executive Summary

1.1. Key Findings

1.2. Global Market Outlook

1.3. Global market Overview

1.4. Supply Side Trends

1.5. Demand Side Trends

1.6. FMI Analysis

2. Market Overview

2.1. Market Coverage/Taxonomy

2.2. Market Definition/Scope/Limitations

2.3. Key Success Factors

3. Global Mechanical Performance Tuning Components Market Demand Analysis 2014-2018 and Forecast, 2019-2029

3.1. Historical Market Volume (Mn Units) Analysis, 2014-2018

3.2. Current and Future Market Volume (Mn Units) Projections, 2019-2029

3.3. Y-o-Y Growth Trend Analysis

4. Global Mechanical Performance Tuning Components Market – Pricing Analysis

4.1. Regional Pricing Analysis by Vehicle Type

Highly Lucrative Opportunities in Europe

The demand for mechanical performance tuning components is expected to gain significant traction in the coming years, owing to rising awareness about tuning services among vehicle owners and increasing instances of vehicle modification. Relatively higher preference for preventive or scheduled maintenance in Europe is projected to make the Europe performance parts market highly lucrative for investors.

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
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The motorcycle lead acid battery market is expected to grow from US$ 5,256.93 Mn in 2022 to US$ 8,686.11 Mn by 2032. The sales of motorcycle lead acid batteries is expected to rise at a CAGR of 5.15% during 2022-2032.

The demand for motorcycle lead acid batteries is increasing in electric, hybrid, light, and heavy motor vehicles, which is a key element fueling the market’s expansion. The sales of motorcycle lead acid batteries are also expected to increase between 2022 and 2032 as a result of factors like the growing population, rising disposable income, expanding government agencies, and strict pollution emission restrictions.

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Since governments have started to offer incentives for the creation of affordable electric automobiles that do not hurt the environment, it is predicted that sales of motorcycle lead acid batteries would increase. As a consequence, makers of motorcycle lead acid batteries are expected to see several potential prospects over the forecast period. Rising cost-competitive energy storage options, quick technical breakthroughs, and telecom sector expansion are expected to raise motorcycle lead acid battery market share throughout the forecast period.

The advantages of lead-acid batteries over lithium-ion batteries, as well as the increased demand for two-wheelers, are important factors driving the growth of the motorcycle lead acid battery market. However, the motorcycle lead acid battery market’s expansion is hampered by revenue loss and brand reputation harm caused by counterfeit products. The development of moldable batteries and battery modifications, on the other hand, is likely to fuel demand for motorcycle batteries.

Factors such as OEMs losing revenue and brand reputation due to counterfeit products are anticipated to hamper the growth of the motorcycle lead acid battery market. Furthermore, the cost advantage of lead-acid batteries over lithium-ion batteries will greatly drive sales of motorcycle lead acid battery throughout the projected period.

Key Takeaways from Market Study

• During the projected period, motorcycles are anticipated to dominate the market for lead acid batteries for motorcycles.
• In 2022, the motorbike category represented a sizeable percentage of the market.
• The growth of the two-wheeler industry is anticipated to quickly increase demand for motorbike batteries throughout the anticipated timeframe.
• The rapid use of electric vehicles in China, India, South Korea, and other Asian countries has increased demand for motorcycle lead acid batteries. For example, electric scooters and motorcycles have completely dominated the two-wheeler market.
• The motorbike lead acid battery market is dominated by North America, which holds the second-largest share. The growth of the motorcycle lead acid battery market is anticipated to be significantly influenced by the developed industrial sector in the U.S.
• The Asia Pacific region is likely to be the most prominent and lucrative area in the global motorcycle lead acid battery market due to growing motorbike demand in countries such as India and China.

“The global motorcycle lead acid battery market has evolved with strong competitiveness due to changes in customer tastes throughout time. As a result, market participants are focusing their efforts on new product development, expanding geographically, building partnerships with supporting firms, and investing in long-term contracts.” –FMI Analyst

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Competitive Landscape

The global motorcycle lead acid battery market is highly fragmented, with several competitors owning just a small portion of the market. The motorcycle lead acid battery market is expected to be dominated by a few prominent producers, including GS Yuasa Corporation, Exide Industries Ltd, Hitachi Chemical Company Ltd., and EnerSys.

Key Segments Covered in the Motorcycle Lead Acid Battery Market Report

By Vehicle Type:

• Motorcycles
• Scooters

By Sales Channel:

• OEMs
• Aftermarket

By Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

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Developments in the Motorcycle lead acid battery Market:

• EnerSys announced an additional US$ 100 million investment in Thin Plate Pure Lead (TPPL) manufacture on June 11, 2019, with the goal of increasing capacity by 15% over the next three years. The firm intends to increase its TPPL earnings by more than $500 million per year with this investment.
• Daramic LLC, a leading manufacturer of polyethylene (PE) battery separators used in lead acid batteries, said on September 18, 2018, that it will expand its production unit in France by 15%.

About Future Market Insights (FMI) 

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

Contact:

Future Market Insights, Inc.
Christiana Corporate, 200 Continental Drive,
Suite 401, Newark, Delaware – 19713, USA
T: +1-845-579-5705
For Sales Enquiries: sales@futuremarketinsights.com
Browse All Reports: https://www.futuremarketinsights.com/reports
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With a 28.3% share of the steel pipe market, North America has a significant impact. The pipeline network is expanding, energy and infrastructure projects are increasing, steel pipes are in greater demand in the vehicle industry, power plant capacity is increasing, and the oil and gas industry is booming, all of which are driving the steel pipe market.

In 2022, it is predicted that the global steel pipe market will most likely reach a value of US$ 90,122 Million. By 2032, the market for steel pipes is anticipated to grow at an average CAGR of 5.4% and reach US$1,51,905 Million.

An increase in oil and gas production to meet the demands of the transportation industry is one of the most significant factors propelling the growth of the steel pipe market. The oil and gas sector is where steel pipes and tubes are most commonly used. Steel pipes are used in this industry to transport gas and liquid. In their manufacture, low alloy and carbon steel are frequently used. As a result, manufacturers take into account the cost of raw materials and work with specialised suppliers to provide cost advantages to their target market.

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Global Steel Pipe Market: Region-wise outlook

The Asia Pacific is estimated to have a major share in the global steel pipe market. China has many manufacturers in the steel pipe industry, which makes it a dominating player in the Asia Pacific market. The countries in North America, such as the U.S. and Canada with developed steel manufacturing industries, represent as prominent regional markets.

Moreover, the U.S. has produced a wide range of products related to carbon and stainless steel. The U.S. president Mr Donald Trump also signed a memo for new steel pipelines with the use of U.S.-manufactured raw steel. Based on these factors, the U.S. is estimated to have a hefty market share in the steel pipe market globally. The replacement of ageing pipelines in Europe is expected to gain high market growth over the coming years. Latin America has sluggish growth in the global steel pipe industry market. The Middle East and Africa are estimated to show sustainable growth due to rising oil and gas industries.

United States

With a 28.3% share of the steel pipe market, North America has a significant impact. The pipeline network is expanding, energy and infrastructure projects are increasing, steel pipes are in greater demand in the vehicle industry, power plant capacity is increasing, and the oil and gas industry is booming, all of which are driving the steel pipe market.

Steel pipe demand has been bolstered by sustained economic growth in the country, supported by fiscal stimulus from the government, and the resulting improvement in company confidence.

In addition, the United States has seen significant growth in crude oil output, which has offered steel pipe market participants attractive chances to profit from. There have been a lot of ups and downs in the US steel pipe market over the past several years, with strong growth in 2017 and 2018, especially in the oil and gas industry. The reduction in demand for oil prices is expected to have a negative impact. Industrial limitations are expected to be eased during the next few years, allowing the sector to revive.

Brazil

Brazil’s economy has been showing considerable activity, albeit at a modest rate. In recent years, the steel pipe market has been driven by industrial growth in the country as well as rising consumer prices in the region. Latin American economic uncertainty has had an impact on steel production. As a result, Brazil has seen a decline in imports of finished steel products, while the country’s crude steel production has remained relatively consistent.

The ongoing trade tensions between China and the United States, as well as tight economic conditions and lower commodity prices, are major concerns for Brazilian steel pipe market participants. Brazil is the only country in Latin America that has been able to sustain a surplus of completed steel commerce, accounting for more than half of the region’s steel pipe market share.

Favourable government measures in the country are forecasted to also aid in a healthier monetary environment and the reduction of inflation. Due to improved business confidence in the industrial and construction sectors through 2021, the steel pipe industry is expected to grow throughout the projected period.

Canada

Steel pipes are in high demand in Canada because of the country’s relatively high cost compared to numerous Latin American countries. However, the government has been confronted with difficulties due to major drops in crude oil prices and a persistent reduction in energy industry demand.

As a result, steel prices have fluctuated, making it difficult for businesses to make a profit. As steel prices rise and the Canadian dollar depreciates, the steel pipe market is expected to develop steadily but slowly until 2030.

Russia

Due to rising consumer demand for steel pipe, Europe has a competitive share in the worldwide market, with Russia accounting for a significant portion of this market share. During the projection period, the country would be able to lead the seamless steel pipes sector in Europe due to ongoing and upcoming oil and gas projects.

China

Customers in China are becoming more affluent and have more disposable cash, which has a beneficial effect on the steel pipe market. Demand for steel pipes is increasing as a result of an increase in demand for contemporary house interior design and architecture.

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Global Steel Pipe Market: Drivers

As the oil and gas industry is growing rapidly, the demand for steel pipes is also increasing. Features such as reliability and durability are some of the prominent factors driving the global demand for steel pipes. Steel pipes have a wide range of usability, they are used in the automotive, mining and construction industries, which drives the manufacturing steel pipe industry. The available range of steel pipes becomes one of the reasons surpassing the demand of residential and non-residential sector of steel pipes. The replacement of ageing pipelines also increases the global demand for steel pipes.

Global Steel Pipe Market: Restraints

Substitutes such as iron and plastic pipes, which create diversions for the manufacturer towards other material pipes, are estimated to restrain the market growth. The corrosive behaviour of carbon steel pipes is one of the restraining factors, and the high cost of stainless steel also hinders the growth of the global steel pipe market.

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

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In 2022, the market sales for smart pumps is projected to be worth US$ 947.6 Mn. The market for smart pumps is anticipated to grow at a 7.9% CAGR over the forecast period, reaching US$ 2,030.5 Mn by 2032. Over the course of the assessment period, a significant increase in automotive vehicle production and a developing automotive aftermarket are anticipated to drive up demand for smart pumps.

According to Future Market Insights, the market for intelligent pumps is primarily driven by strict energy-efficiency regulations in developed countries, high adoption of the Industrial Internet of Things (IIoT), and the financial advantages of intelligent systems. Besides this, the rising focus on smart water and wastewater systems, and increasing power generation capacities worldwide, are estimated to create opportunities in the smart pump market.

Manufacturers are focusing on increasing their sales in overseas markets, including developing markets, owing to factors such as the growing construction sector, strict energy-efficiency regulations in developed countries and rising awareness of water and waste treatment activities.

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Key players operating in the market are focused in launching innovative products through merger & acquisition activities which is proven as key win-win strategy amongst the manufacturers and is anticipated to contribute to market growth in the years to come.

“Increasing application of smart pump in wastewater treatment plants, along with high demand for centrifugal smart pumps in smart cities will create opportunities for growth in the market over the assessment period,” says an FMI analyst.

Key Takeaways:

• On the basis of pump type, sales of centrifugal pumps will hold 60% of the total market share over the forecast period.
• Based on end use, building automation and water & wastewater segments will collectively account for a dominant share in the market in 2022.
• Total sales in Germany will hold nearly 20% of the Europe market share in 2022.
• China will account for 66% of the East Asia smart pump market share over the forecast period.
• Demand for smart pumps in India will increase at a 9% CAGR over the assessment period.

Competitive Landscape

The smart pump market is consolidated with key players accounting 70-75% of the global market share. These players are investing in new technology developments and expansion of their product portfolio in order to cater for the increasing demand for smart pumps from various end-use industries.

According to FMI Analysis, the top players in the market are Grundfos Holding A/S, ITT Corporation, XYLEM, Flowserve Corporation, Sulzer Ltd., and KSB Ltd are among others

Find More Valuable Insights

The research report analyzes the demand for Smart Pump. The global Smart Pump market has been analyzed with the COVID-19 impact, various macroeconomic factors, market trends and market background. As per Future Market Insights, the market has been analyzed on the basis of pump type, capacity, end user, and region. The report provides qualitative and quantitative information on various players in this market. This report also tracks the market by both, supply side and demand factors.

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Smart Pump Market Segmentation by Category

Pump Type:

• Centrifugal
• Positive Displacement

Capacity:

• UPTO 30
• 30-90
• 90-180
• 180-360
• Above 360

End-User:

• Building Automation
• Water & Waste Water
• Oil & Gas
• Chemicals
• Power
• Others

Region:

• North America
• Latin America
• Europe
• East Asia
• South Asia & Pacific
• Middle East & Africa

About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10 years.

Contact Us:

Future Market Insights, Inc

Unit No: 1602-006

Jumeirah Bay 2

Plot No: JLT-PH2-X2A

Jumeirah Lakes Towers

Dubai

United Arab Emirates

For Sales Enquiries: sales@futuremarketinsights.com

Browse All Reports: https://www.futuremarketinsights.com/reports

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