Pipes and Pipe/Hose Fittings Market Forecast 2024-2033: Growth Rate, Drivers, And Trends/Advanced Drainage Systems Inc., Aliaxis Group, Amanco Company- Orbia, American Cast Iron Pipe Company, ArcelorMittal S.A., Chevron Phillips Chemical Company LLC, China Lesso Group

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The Pipes and Pipe/Hose Fittings Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Pipes and Pipe/Hose Fittings Global Market Report 2024, The pipes and pipe/hose fittings market size has grown strongly in recent years. It will grow from $295.95 billion in 2023 to $317.79 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to water and wastewater management, oil and gas exploration, renewable energy projects, infrastructure rehabilitation, globalization of trade, government investments in infrastructure.

The pipes and pipe/hose fittings market size is expected to see strong growth in the next few years. It will grow to $433.97 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The growth in the forecast period can be attributed to smart cities initiatives, circular economy practices, rise in e-commerce for procurement, focus on water conservation, expansion of oil and gas infrastructure, hydraulic fracturing (fracking) operations. Major trends in the forecast period include integration of 3d printing technologies, advanced material innovations, customization for specific applications, hygienic and sanitary solutions, smart pipe systems, digitalization in manufacturing.

An increase in construction projects is expected to propel the pipes and pipes/hose fittings market going forward. Construction projects refer to creating and building structures in an organized manner. Pipes and pipes/hose fittings are key components in the construction industry and are chiefly used for conveying fluids used in construction. For instance, in Oxford Economics, a UK-based forecasting and econometric analysis company, the global construction output grew by 6.6%, and the global construction output is expected to grow by 35% by 2030. Further, the global construction market is expected to grow by $4.5 trillion between 2020 and 2030, to reach $15.2 trillion. Therefore, an increase in construction projects will drive the growth of the pipes and pipe/hose fittings market.

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The pipes and pipe/hose fittings market covered in this report is segmented –

By Type: Pipes, Fittings

By Technology: Compression Molding, Injection Molding, Thermoforming, Extrusion, Electro Fusion, Fabricated, Other Types

By Application: Water Supply, Pumps And Piping System, Drainage And Sewage Disposal, Sanitation, Transportation Pipes, Other Applications

Product innovations are a key trend in the pipes and pipe/hose fittings market. Major companies in the pipes and pipe/hose fittings market are launching new and innovative products to strengthen their position in the pipes and pipe/hose fittings market. For instance, in October 2021, Wavin, a Netherlands-based infrastructure solutions company, launched the Wavin Tigris K5/M5, an innovative press fitting series with a unique acoustic leak alert feature. This new product can help with new water management methods for metal-plastic pipe connections.

The pipes and pipe/hose fittings market report table of contents includes: