Competitive Pipes Market Estimated to Value US$ 125,968 Million By 2024

Global Competitive Pipes Market to Surge at a CAGR of 4.5% Over 2024
Global sales of competitive pipes continue to be impacted by the growth of the building &
construction sector. Some of the primary use of pipes include laying down water pipelines, in the
construction of wastewater drainage systems, laying gas pipelines and HVAC systems. As per
Persistence Market Research’s latest report, the global market for competitive pipes stood at around
US$ 88,809.4 Mn in 2016. This market is projected to register a CAGR of 4.5% during the forecast
period (2016–2024), to surpass a valuation of US$ 125,968 Mn by 2024 end. China, the U.S. and
India are contributing substantially to the growth of the construction industry and will collectively
contribute for more than 50% share of the growth in the construction industry by the end of 2020. In
2014, the total housing count reached more than 1 Mn with Y-o-Y growth of around 3%. With the
continuous growth in the building & construction sector, the demand for competitive pipes is also
projected to increase over the forecast period. Also, application for competitive pipes is widespread
in the oil and gas industry.
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Steel Pipes to Remain Highly Sought-After
Steel will remain the most preferred material for manufacturing of competitive pipe through the
forecast period. Currently, steel competitive pipes account for more than 77% market value share of
the market. Demand for steel competitive pipes will remain higher as compared to other materials.
During the forecast period, copper competitive pipes will witness favorable traction as well. This is
primarily owing to extensive application of steel and copper competitive pipes in construction,
agriculture, energy, and other industrial sectors
On the basis of end use industry, the oil & gas segment held the largest value share of the market in
2016, and the trend is expected to continue throughout the forecast period. Between 2016 and 2024,
this segment is expected to witness a CAGR of 4.9%.
By application, the liquid conduits segment accounted for around 47.7% of the market in terms of
volume in 2016. Towards the end of the forecast period, this segment is expected to reach a market
valuation in excess of US$62,129 Mn.
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Asia Pacific at the Forefront of the Global Competitive Pipes Market
Among regions, the competitive pipes market in Asia Pacific (APAC) is expected to remain highly
lucrative over 2024. APAC accounted for more than 49% value share of the market in 2016,
surpassing a valuation of US$43,782 Mn. During the forecast period, the region’s market is
anticipated to increase at a CAGR of 5.2%.
Competitive Landscape
Some of the leading companies partaking in the global competitive pipes market include Tenaris
S.A., Vallourec S.A., Welspun Group, Georg Fischer Ltd., GERDAU S.A., JFE Holdings
Corporation, ThyssenKrupp AG, Novolipetsk Steel, ArcelorMittal S.A., Tata Steel Limited, Nippon
Steel & Sumitomo, Metal Corporation, Pohang Iron and Steel Company JSW Steel Ltd., Atkore
International Group Inc., China Steel Corporation, Advanced Drainage System, Essar Steel,
Contech Engineered Solutions LLC and Can Clay Corporation.
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Among regions, the competitive pipes market in Asia Pacific (APAC) is expected to remain highly lucrative over 2024. APAC accounted for more than 49% value share of the market in 2016, surpassing a valuation of US$43,782 Mn.