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Pipes and Pipe/Hose Fittings: A Global Strategic Business Report

Global hose fittings market: $286 billion industry forecast by 2018


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2014-01-29 08:50:05 - Pipes and Pipe/Hose Fittings: A Global Strategic Business Report - a new market research report on companiesandmarkets.com

Global Pipes and Pipe/Hose Fittings market is projected to reach US$286.2 billion by 2018, driven by a combination of factors including recovery in construction spending, growing demand from the energy sector, greater government emphasis on irrigation and water supply management, and rapid industrialization of developing economies.

Pipes play a vital role in several industries and are used in a variety of applications involving fluid transportation over distances. Given the sensitivity of major end-use markets such as oil & gas and construction to global macroeconomic conditions, market for pipes and pipe/hose fittings is highly variable and closely mirrors the trends in GDP, energy prices, manufacturing activity, and consumer spending levels. Growth fundamentals such as escalating energy requirements, recovery of residential and non-residential

 

 

construction spending, rising stress on water supplies, and mounting interest in development of environment friendly pipes are expected to drive demand in the coming years. In the construction and automobiles sector, high-grade pipes will be in demand for efficient and safe operation of machines and vehicles.

Plastics are expected to emerge as the fastest growing material for pipes, with the segment rapidly penetrating the piping market and gaining share from metal in majority of the application areas. PVC pipes dominate the plastic pipes market with significant application in the construction and building industry. The material is expected to remain the major resin employed in plastic pipes, owing to its dominance in small diameter applications that include portable water distribution, agricultural and sanitary sewer markets. Given the increasing competition in plastic pipes market, manufacturers are focusing on the development of innovative products and resin improvements that improve efficiency of pipes in challenging environments. Development of new plastic pipes systems with higher stress resistance is expected to augment replacement of steel pipes in areas such as domestic drinking water supply, due to technical and economic benefits. Demand for PE pipes is projected to grow significantly driven by expansion in sewerage, oil & gas exploration and production activity, electrical, drainage and telecommunication industries.

Asia-Pacific represents the largest and fastest growing market worldwide. Opportunities are huge in the emerging markets of China and India. Non-residential construction scenario in Asian and Eastern European nations showcases a stabilized picture, and promises a quick rebound in terms of renovations, constructions and refurbishments. Countries such as India offer significant growth prospects driven by factors such as increased focus on laying pipelines for oil & natural gas transport, irrigation facilities and water & sewage transport. In the United States, pipes market stands to gain from the recovery in construction activity, enhanced focus on developing shale gas reserves and growing need for replacing and repairing aging water pipe networks. Global Industry Analysts ©

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