Lucintel Forecasts Industrial Pipe Market to Reach $25.7 Billion by 2027

Category: Business

According to the recent study the industrial pipe market is projected to reach an estimated $25.7 billion by 2027 from $21.7 billion in 2021, at a CAGR of 2.9% from 2021 to 2027. Growth in this market is primarily driven by increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development. Browse 139 figures / charts and 109 tables in this 268 -page report to understand trends, opportunities and forecast in industrial pipe market by material (steel pipe, ductile iron pipe, plastic pipe, fiberglass reinforced pipe, and others), end use industry (power generation, petrochemical, automotive, industrial processing plant, and others), diameter (small diameter pipe up to 15 inches, medium diameter pipe 15 inches to 30 inches, and large diameter pipe 30 inches and above), pressure rating (low pressure pipes up to 150 psi, medium pressure pipes 150 psi to 300 psi, and high pressure pipes 300 and above psi), and region (North America, Europe, Asia Pacific, and the Rest of the World). Download sample report by clicking on below link https://www.lucintel.com/industrial-pipe-market.aspx “Steel pipe market is expected to remain the largest segment during the forecast period.” Based on material, the industrial pipe market is segmented into steel pipe, ductile iron pipe, plastic pipe, fiberglass reinforced pipe, and others. Lucintel forecasts that the steel pipe market is expected to remain the largest segment due to increasing demand for steel pipes in power generation and petrochemical industries. Lucintel predicts that the plastic pipe material segment will witness the highest growth during the forecast period because of low cost, light weight and corrosion resistant. “Within the industrial pipe market, the petrochemical segment is expected to remain the largest technology” Based on technology the petrochemical segment is expected to witness the highest growth over the forecast period due to increasing investments in new ventures and up-gradation of petrochemical facilities. The automotive segment is expected to witness the highest growth due to increasing automotive production, along with population, purchasing power, and urbanization rate, all of which increase growth of the automotive industry, which ultimately increases the demands for industrial pipes. “Asia pacific will dominate the industrial pipe market in near future” APAC is expected to remain the largest market and witness the highest growth over the forecast period due to increasing infrastructure development, urbanization and government economic stimulus measures in this region. Download Brochure of this report by clicking on https://www.lucintel.com/industrial-pipe-market.aspx Major players of industrial pipe market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Vallourec SA, TMK Group, Tenaris SA, China LESSO Group Holdings Limited, ArcelorMittal S.A., Orbia, Sekisui Chemical Co. Ltd., Advanced Drainage Systems, Inc., Saudi Arabian Amiantit Company, Northwest Pipe Company, and Future Pipe Industries are among the major industrial pipe providers. This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/industrial-pipe-market.aspx or helpdesk@lucintel.com