Wilmington, Delaware, United States, Aug. 16, 2023 (GLOBE NEWSWIRE) -- Transparency Market Research Inc. - The global metal expansion joints market is projected to flourish at a CAGR of 4.8% from 2023 to 2031. As per the report published by TMR, a valuation of US$ 1.9 billion is anticipated for the market in 2031. As of 2023, the market for metal expansion joints is expected to close at US$ 1.26 billion.
Rapid industrialization and construction projects in emerging economies increase the demand for reliable piping systems, likely to drive the market for metal expansion joints during the forecast period. The growing demand for metal expansion pipes in the chemical & petrochemical industry to accommodate the movement of pipelines and prevent leaks, owing to hazardous chemicals.
Don’t miss out on essential insights – Get your sample copy now: https://www.transparencymarketresearch.com/sample/sample.php?flag=S&rep_id=40778
Competitive Landscape
The metal expansion joints market is highly fragmented with the presence of a few market players. The leading players in the market are investing in new product development, mergers, and acquisitions to gain a competitive edge. Transparency Market Research has profiled the following players in its global metal expansion joints market report:
Key players operating in the global landscape are Garlock, Senior Flexonics, BIKAR-METALLE GmbH, Metraflex, AEROSUN-TOLA, Witzenmann GmbH, NiCoForm, EagleBurgmann, Macoga, Gongyi Runda Pipeline, and Triad Bellows.
Key Developments in the Metal Expansion Joints Market
- In July 2023 – Macoga successfully designed and manufactured a substantial quantity of Universal Tied Expansion Joints using Alloy 600 material for a PEMEX Refinery in Mexico.
- EagleBurgmann's metal expansion joints are designed to compensate for thermal expansion, vibration, misalignment, and other factors in piping and ducting systems. These expansion joints help maintain the integrity of the systems, prevent leaks, and reduce stress on pipes and equipment. They are used in a wide range of applications, including exhaust systems, steam pipelines, industrial furnaces, and process plants.
The increasing demand for metal expansion joints in the energy sector, encompassing power generation and oil and gas, for applications such as exhaust systems, steam lines, and flue gas systems. The demand for metal expansion joints is high in manufacturing, transportation, material handling, mining, and mineral processing. The increasing application of metal expansion joints in the energy sector contributes to the growth of the metal expansion joints market,
Key Takeaways from the Market Study
- As of 2022, the metal expansion joints market was valued at US$ 1.2 billion
- By product type, the air chillers segment to enjoy high demand, accumulating a high revenue share during the forecast period
- Based on application, the power generation segment accounts for the highest market share
Metal Expansion Joints Market: Key Trends and Opportunistic Frontiers
- The growing technological advances and the introduction of new technology such as 3D printing and growing innovations in expansion joint designs, materials, and manufacturing processes lead to more efficient and durable products that meet the evolving needs of industries.
- Manufacturers are developing new materials for metal expansion joints, such as stainless steel and nickel alloys. These materials offer improved corrosion resistance and temperature tolerance, which makes them suitable for use in a wider range of applications.
- Manufacturers are increasingly focusing on sustainability in the design and manufacturing of metal expansion joints. This includes using recycled materials and developing products that are more energy efficient.
Get Exclusive Discount on Metal Expansion Joints Market at: https://www.transparencymarketresearch.com/sample/sample.php?flag=D&rep_id=40778
Metal Expansion Joints Market – Regional Analysis
- North America is expected to account for a high share of the metal expansion joints market owing to the presence of a strong industrial base, including power generation, oil and gas, chemical processing, and manufacturing. Stringent industry regulations related to safety, emissions, and environmental protection in industries to boost the market demand in the region. Replacement of aging infrastructure in sectors like power plants and refineries creates opportunities for expansion joints.
- The metal expansion joint sales in Asia Pacific are expected to rise during the forecast period. increasing industrialization and increased infrastructure development, including new power plants, refineries, and manufacturing facilities, create opportunities for the metal expansion joint market. Rapid development in the industrial sector in countries like China, and India to boost market sales during the forecast period.
Metal Expansion Joints Market
By Product Type
- Axial Expansion Joints
- Universal Expansion Joints
- Tied Single Expansion Joints
- Tied Double Expansion Joints
- Others (Pressure Balanced Expansion Joints, Gimbal Expansion Joints, etc.)
By Application
- Power Generation
- Petrochemical
- Automotive
- Paper
- Water Treatment
- Others (Oil and Gas, Heavy Industry, etc.)
By Distribution Channel
- Direct
- Indirect
Region
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Place an Order Copy of Metal Expansion Joints Market Report at: https://www.transparencymarketresearch.com/checkout.php?rep_id=40778<ype=S
About Transparency Market Research
Transparency Market Research, a global market research company registered at Wilmington, Delaware, United States, provides custom research and consulting services. Our exclusive blend of quantitative forecasting and trends analysis provides forward-looking insights for thousands of decision makers. Our experienced team of Analysts, Researchers, and Consultants use proprietary data sources and various tools & techniques to gather and analyses information.
Our data repository is continuously updated and revised by a team of research experts, so that it always reflects the latest trends and information. With a broad research and analysis capability, Transparency Market Research employs rigorous primary and secondary research techniques in developing distinctive data sets and research material for business reports.
Contact:
Nikhil Sawlani
Transparency Market Research Inc.
CORPORATE HEADQUARTER DOWNTOWN,
1000 N. West Street,
Suite 1200, Wilmington, Delaware 19801 USA
Tel: +1-518-618-1030
USA – Canada Toll Free: 866-552-3453
Website: https://www.transparencymarketresearch.com
Blog: https://tmrblog.com
Email: sales@transparencymarketresearch.com
