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Dec 26, 2023

Global Pipe Fittings Market Expected to Reach USD 39,905 Million by 2027, With a CAGR Of 5.1%

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PUNE, India, July 26, 2021 /PRNewswire/ -- According to a recent market study published by Growth Market Reports titled, "Global Pipe fittings Market by Material Types (Aluminum, Cast Iron, Copper, Glass, Plastic, Steel, and Others), Applications (Drainage and Sewage disposal, Pumps and Piping system, HVAC, Transportation Pipes, Water Supply, and Others), End-users (Agriculture, Industrial, Residential, and Others), Distribution Channel (Online, and Offline), and Regions: Size, Share, Trends and Opportunity Analysis, 2017-2027", The global pipe fittings market was valued at USD 29,267 Mn in 2019 and is projected to reach USD 39,905 Mn by 2027, expanding at a CAGR of 5.1% during the forecast period. The market is primarily driven by increasing pipeline projects across the several countries, which is expected to boost the demand for pipe fittings among numerous industries.

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The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.

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This report also includes a complete analysis of industry players that cover their latest developments, product portfolio, pricing, mergers, acquisitions, and collaborations. Moreover, it provides crucial strategies that are helping them to expand their market share.

Highlights on the segments of the Pipe Fittings Market

Based on material types, the market is divided into aluminum, cast iron, copper, glass, plastic, and steel. The plastic pipe fittings segment held 34.09% share of the market in 2019, owing to wide applications of PVC and PE pipe fittings in several industrial and residential piping systems. Plastic pipe fittings are prominent fittings that and are available in socket weld (otherwise known as solvent weld) and threaded styles. Socket weld fittings are meant to be chemically welded in place, thus making installation quick and simple. Plastic pipes are usually dry, then marked as the solvent used to connect them works particularly quickly. Couplings are commonly used to link and connect straight lengths of pipe. Fittings can be provided in a range of materials common to plastic pipes, including PVC, RPVC, and CPVC. Common fittings in PVC pipe include elbows, reducers, covers, tables, waxes, joints, and crosses. The standard cross-sectional profile for most PVC pipe or tubing fittings is circular; however, other profile shapes available in the market are square PVC fittings. Increasing use of plastic pipe fittings in supplying drainage from residences to septic tanks and its rising usage for irrigation in fields is estimated to drive the plastic segment. The cast iron segment is anticipated to expand at a CAGR of 4.9% during the forecast period. This is attributed to government initiatives across the world to build smart city projects and improve clean drinking water access.

In terms of applications, the pipe fittings market is classified as drainage and sewage disposal, pumps and piping system, HVAC, transportation pipes, water supply, and others. The water supply segment accounted for 21.52% share of the market in 2019 and is expected to expand at a substantial CAGR during the forecast period, owing to rising urbanization in several developing countries, which is increasing infrastructural developments. Any pipe or tube designed to deliver drinking water to customers is considered as a water supply pipe. Large diameter pipes supply water to towns, smaller branch lines cater to street or groups of houses, and small diameter pipes located within individual buildings supply water to individual water outlets. The size of water pipes varies and can be as large as 3.65 meters in diameter or as small as 12.7 millimeters for individual outlets within a structure. Therefore, the pipe fittings for water supply pipes vary in shape and size, depending on the requirements. PVC, cast iron, copper, steel, concrete or burned clay are all typical materials used to make water pipes and its fittings. Individual water pipes can be joined together to form longer runs using pipe fittings such as flange, nipple, compression, or soldered connectors. Government initiatives for better water resources management to increase water supply to the growing population in is estimated to fuel the market.

Based on end-users, the market is categorized as agricultural, industrial, residential, and Others. The industrial segment accounted for 29.86% share of the market in 2019 and is anticipated to expand at a substantial CAGR during the forecast period. The industrial segment is further categorized into chemical industry, HVAC industry, oil & gas industry, power plants, and others. Pipe fittings have wide range of applications in numerous industry verticals such as power & energy, food & beverage, pharmaceuticals & biotech, semiconductor, pulp & paper, construction materials, and others. A large number of pipes are used in these industries to transfer liquids, gasses, slurries, and other solids and fluids from one place to another, and hence different categories of pipe fittings are used depending on the piping material used. Thus, pipe fittings play a pivotal role for the proper functioning of pipes and tubes in these industries for various applications. The industrial segment is anticipated to hold a significant market share, owing to rising need of transporting fluid, gas, and raw materials within the factory to complete the production process.

The residential segment is projected to expand at a significant pace during the forecast period, due to growing residential constructions in several countries, leading to high requirement for piping systems and fittings, which is expected to boost the market.

In terms of distribution channels, the pipe fittings market is bifurcated into offline and online. The offline segment accounted for 38.51% share of the market in 2019 and is expected to expand at a substantial CAGR during the forecast period. The online segment is expected to expand at considerable CAGR due to increasing e-commerce platforms across different industries resulting in high investments on e-commerce supply chain, which is expected to drive the segment during the forecast period.

Based on regions, the global pipe fittings market is divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Europe constituted 25.58% share of the global market in 2019 and is projected to expand at a substantial CAGR during the forecast period. Industrial developments across Asia Pacific and technological advancements in the piping industry in Europe are major factors propelling the global pipe fittings market in these regions

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Key Takeaways from the Study:

Read 251 Pages Research Report with Detailed ToC on "Global Pipe fittings Market by Material Types (Aluminum, Cast Iron, Copper, Glass, Plastic, Steel, and Others), Applications (Drainage and Sewage disposal, Pumps and Piping system, HVAC, Transportation Pipes, Water Supply, and Others), End-users (Agriculture, Industrial, Residential, and Others), Distribution Channel (Online, and Offline), and Regions (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa (MEA)) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2021 – 2028"

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Key Segments Covered

By Material Type

By Application

By Enterprise Size

By End-users

By Distribution Channel

By Regions

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