Steel pipes projected for significant hike in sales
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According to a study, the water and wastewater pipes market is projected to grow at about five per cent CAGR in the forecast period. Increasing investments for the enhancement of wastewater treatment infrastructure in developing countries are expected to propel the growth of the water and wastewater pipes market.
According to the analysis, rising demand for water supply and distribution as well as sewage and drainage management in urban and rural centers, along with the increasing demand for uninterrupted supply of water is driving the growth of the water treatment sector. This, in turn, is set to directly contribute to the growth of the water and wastewater pipes market.
Furthermore, stringent rules and regulations implemented by governments for industrial wastewater treatment, recycling, and reuse are contributing to the growth of the water and wastewater pipes market. The global water and wastewater pipes market reflected a value of about US$25 million in 2018, which is expected to reach about US$4 5million by the end of 2029.
Increasing surface and ground water withdrawals driving market growth
According to Congressional Budget Office (CBO), the U.S. government spent around US$18 billion on water and waste water management in 2018. This amount was spent on new pipeline installation, operations, and maintenance of water and wastewater management. In addition to this, installation of new pipelines in border crossing points of North America for oil, natural gas, and electricity pipelines drives the growth of the North America pressure and drainage pipes replacement. This factor is subsequently fueling the global water and wastewater pipes market growth. The demand for steel pipes from end-use industries such as oil & gas, mining, and petrochemical, especially for drilling, transportation, and exploration, is projected to bolster the market growth.
As per the study, leading players in the water and wastewater pipes market are offering a wide range of products with advanced characteristic properties and minimum lifecycle cost. Demand for large pipes with large diameters for construction and infrastructure activities is anticipated to drive the growth over the forecast period.
Moreover, numerous manufacturers have invested comprehensively in research & development for manufacturing abrasion-resistant, durable, lightweight, and cost-effective pipes, which gives impetus to the demand for water and wastewater pipes.
High traction in demand for plastic pipes in water and wastewater pipes market
Plastic is progressively being preferred as a suitable material type for manufacturing water and wastewater pipes due to its inherent features such as abrasion and corrosion resistance, high durability against climatic conditions and dynamic pressure along with its light weight, and affordable pricing. Owing to these features inclination towards using plastic pipes is increasing in industrial and agricultural users in water and wastewater pipes market. The technological innovations such as PVC, cPVC and HDPE pipes are propelling the demand for plastic pipes in replacement of ageing concrete and steel pipes. These factors are projected to uplift the growth in water and wastewater pipes market.
Water and wastewater pipes market: Vendor insights
Report’s business analysis also highlights instigating insights of the competitive scenario of the water and wastewater pipes market and differential strategies of key market players. Some prominent players in the market are Georg Fischer, Vallourec, Tenaris SA, JM Eagle, Inc., Geberit S.A., ISCO Industries, and Welspun Group, among others. In addition, several significant players in the water and wastewater pipes market are adopting various strategies related to consumer demand, such as new product launches and noteworthy development in R&D to enhance their product portfolio and upgrade their products in technological aspects. Moreover, government utilities in developed and developing economies are pivoting the focus on adopting the PPP model for water and wastewater management.
This study highlights key opportunities in the water and wastewater pipes market and finds that the market would exhibit a CAGR of about five per cent during the forecast period.
These insights are based on a report on Water and Wastewater Pipes Market by Persistence Market Research.