Piping Systems Market to Reach $6.5 Billion, Globally, by 2032 at 4.8% CAGR: Allied Market Research

Rise in urbanization and ongoing infrastructure expansion propel the need for piping systems across various sectors including construction, water management, and utilities. As urban population grows, there is a heightened requirement for expanded infrastructure to cater to water supply, wastewater management, and building construction, thus boosting the demand for pipes for plumbing, drainage, and sewage systems.


Wilmington, Delaware, Oct. 08, 2024 (GLOBE NEWSWIRE) -- Allied Market Research published a report, titled, "Piping Systems Market by Product Type (Metal Piping Systems, Plastic Piping Systems and Composite Piping Systems), Material (Stainless Steel, Carbon Steel, Alloy Steel and Others), End User (Power Plants, Petroleum Refineries, Offshore And Marine, Chemical And Fertilizers and Others): Global Opportunity Analysis and Industry Forecast, 2024-2032". According to the report, the piping systems market was valued at $4.4 billion in 2023, and is estimated to reach $6.5 billion by 2032, growing at a CAGR of 4.8% from 2024 to 2032. 

Prime determinants of growth   

In addition, stringent regulations concerning environmental conservation, health, and safety present challenges for the piping system market. However, the aging water and wastewater infrastructure in numerous regions present opportunities for piping system providers to engage in infrastructure upgrade and rehabilitation projects. These factors are expected to drive the growth of the piping systems market during the forecast period.  
 
Download Sample Copy @ https://www.alliedmarketresearch.com/request-sample/A47273 

Report coverage & details:  

Report Coverage   Details  
Forecast Period   2024–2032  
Base Year   2023  
Market Size in 2023   $4, 354.5 million  
Market Size in 2032   $6, 317.6 million  
CAGR   4.8%  
No. of Pages in Report   220  
Segments covered   Product Type, Material, End User, and Region  
Drivers    Urbanization and Infrastructure Development   Industrialization and Manufacturing Activities   Renewable Energy Projects  
Opportunities   Water and Wastewater Infrastructure Upgrades  
Restraints   Regulatory Compliance and Environmental Concerns  

The metal pipes segment to maintain its leadership status during the forecast period.  

By product type, the metal piping systems segment held the highest market share in 2023 and is estimated to maintain its leadership status during the forecast period, owing to their robustness, high-pressure handling capability, and suitability for diverse applications across industries such as oil and gas, construction, and manufacturing. However, the plastic piping systems segment is projected to attain the highest CAGR during forecast period 2024 to 2032, owing to their lightweight nature, corrosion resistance, cost-effectiveness, and expanding applications across various industries.  
 
Buy This Research Report ( 220 Pages PDF with Insights, Charts, Tables, Figures): 
https://www.alliedmarketresearch.com/checkout-final/bd0903ddb10ff97259e869000e594961 

The carbon steel segment maintained its lead position during the forecast period.  

By material, the carbon steel segment accounted for the largest share in 2023 and is estimated to maintain its leadership status during the forecast period, owing to its widespread availability, cost-effectiveness, durability, and suitability for diverse applications across industries such as oil and gas, construction, and manufacturing. However, the alloy steel is projected to attain the highest CAGR during the forecast period from 2024 to 2032. This is owing to its superior mechanical properties, corrosion resistance, and increasing applications in critical industrial sectors.  

The petroleum segment to maintain its leadership status during the forecast period.  

By end user, the petroleum segment held the highest market share in 2023 and is estimated to maintain its leadership status during the forecast period, their extensive demand for pipelines and infrastructure to transport crude oil, refined products, and natural gas globally. However, the pharmaceutical segment is projected to attain the highest CAGR during forecast period from 2024 to 2032, owing to increasing investments in pharmaceutical infrastructure, stringent regulations, and rising demand for hygienic fluid handling solutions.  

Asia-Pacific to maintain its dominance by 2032.  

By region, Asia-Pacific held the highest market share in terms of revenue in 2023 global piping system market revenue and is expected to witness the fastest CAGR during the forecast period 2024 to 2032, owing to rapid industrialization, urbanization, infrastructure development, and increasing investments in sectors like oil and gas, water treatment, and construction across the region.  
 
Inquire Before Buying @ https://www.alliedmarketresearch.com/purchase-enquiry/A47273 

Leading Market Players: -  

  • ASTRAL LIMITED  
  • Prince Pipes And Fittings Ltd.  
  • ArcelorMittal  
  • JM EAGLE, INC.  
  • Nippon Steel Corporation  
  • Tata Steel Limited  
  • Tenaris SA.  
  • United States Steel Corporation  
  • Sumitomo Corporation  
  • Nucor Corporation (Nucor Tubular Products)   

The report provides a detailed analysis of these key players of the global piping system market. These players have adopted different strategies such as new product launches, collaborations, expansion, acquisition, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.  

Trending Reports in Pipe Industry:     

Pipeline Monitoring Systems Market - Global Opportunity Analysis and Industry Forecast, 2021-2030 

Ductile Iron Pipes Market - Global Opportunity Analysis and Industry Forecast, 2021-2031 

Pipes Market - Global Opportunity Analysis and Industry Forecast, 2023-2032 

Steel Structure Market - Global Opportunity Analysis and Industry Forecast, 2024-2032 

About Us:    

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." Allied Market Research has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.    

We are in professional corporate relations with various companies, and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.    

Contact us:    

United States    

1209 Orange Street,    

Corporation Trust Center,    

Wilmington, New Castle,    

Delaware 19801 USA.    

Int'l: +1-503-894-6022    

Toll Free: +1-800-792-5285    

Fax: +1-800-792-5285    

help@alliedmarketresearch.com 

Construction Blog 

Construction Material Blog