Over the forecast period of 2022 to 2032, the global pipes market is expected to grow at a CAGR of 5.4 % to reach a valuation of US$ 225.5 Billion by the end of 2032. The pipe has applications in drain-waste-vent (DWV), sewers, water mains, water service lines, irrigation, conduit, and various industrial installations.
Significant demand for pipes in many industries, as well as infrastructure development in emerging economies, are likely to fuel global demand for pipes. Plumbing pipes are generally utilised in residential applications to transport potable water and wastewater.
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Rising Application of Metal Pipes in Commercial Sector to Push the Sales by 5,553 Million by 2032
Hospitals, schools, office buildings, and retail establishments commonly feature specific piping systems for different types of fluids. Industrial plants have different pipe requirements depending on the type of production process used.
The world’s infrastructure is being shaped indirectly by expanding population. New and ongoing construction demands piping systems, which will raise demand for pipes in the coming years.
The market is witnessing growth due to the increasing demand for new build extensions and project investment in developing countries. The commercial segment is expected to hold the largest share and poised to expand at the highest CAGR during the forecast period.
Key Takeaways from Market Study
- By material type, the metal segment is expected to grow at a CAGR of 5.8% during the forecast period.
- By diameter, the metal segment is anticipated to dominate the market of pipes and is further expected to account for about 72.4% of the market share.
- By end-use, the commercial segment is projected create an absolute dollar opportunity worth US$ 32.67 Billion in between the forecast period.
- In terms of region, pipes sales in Europe are estimated to exhibit a CAGR of 4.7% over the forecast period (2022-2032).
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Key Segments Covered in Global Pipes Industry Analysis
Pipes Market by Material Type:
- Plastic
- Metal
- Composite
Pipes Market by Diameter:
- Plastic
- Metal
- Composite
Pipes Market by Sales Channel:
- Residential
- Commercial
- Industrial
- Composite
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