LONDON--(BUSINESS WIRE)--The global galvanized pipe fitting market size is poised to grow by USD 1.31 billion during 2020-2024, progressing at a CAGR of almost 8% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.
The rising demand from the water and wastewater industry is one of the key factors that will drive the growth of the global galvanized pipe fitting market during this forecast period. Water is a vital element in manufacturing industries such as food and beverage, pharmaceuticals, and pulp and paper. Governments of most countries across the world are focusing on the setting up of new water treatment plants and renovating the aging water treatment plants. These factors coupled with the drying of freshwater resources are projected to increase the installation of water and wastewater treatment plants around the world, which in turn, will result in the growth of the galvanized pipe fitting market during the forecast period.
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Report Highlights:
- The major galvanized pipe fitting market growth came from the non-residential segment. This is mainly due to the growth in the manufacturing infrastructure and the increased spending on infrastructure developments.
- APAC was the largest galvanized pipe fitting market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to factors such as the increase in construction activities due to the improving standards of living, the rising disposable incomes, and the growth in urbanization
- The global galvanized pipe fitting market is fragmented. AB Alvenius Industrier, American Piping Products Inc., Detroit Nipple Works Inc., Improved Piping Product Inc., Missouri Pipe Fittings Co., Morrill Industries Inc., Mueller Industries Inc., Quality Pipe Products Inc., Smith-Cooper International Inc., and TUBESPEC are some of the major market participants. To help clients improve their market position, this galvanized pipe fitting market forecast report provides a detailed analysis of the market leaders.
- As the business impact of COVID-19 spreads, the global galvanized pipe fitting market 2020-2024 is expected to have neutral impact. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.
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The rise in the deep-water and ultra-deepwater project will be a Key Market Trend
Market players are making developmental efforts in the field of oil and gas industry due to the exhaustion of the available oil resources and the high dependence of the global economy on fossil fuels. This has led to the increasing need for exploration and extraction activities in deep-water and ultra-deep-water exploration operations. These developments will boost the demand for galvanized pipe fittings during the forecast period.
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Galvanized Pipe Fitting Market 2020-2024: Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist galvanized pipe fitting market growth during the next five years
- Estimation of the galvanized pipe fitting market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the galvanized pipe fitting market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of galvanized pipe fitting market vendors
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Executive Summary
- Market Overview
Market Landscape
- Market ecosystem
- Value chain analysis
Market Sizing
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by End-user
- Market segments
- Comparison by End-user
- Non-residential - Market size and forecast 2019-2024
- Residential - Market size and forecast 2019-2024
- Market opportunity by End-user
Customer Landscape
- Overview
Geographic Landscape
- Geographic segmentation
- Geographic comparison
- APAC - Market size and forecast 2019-2024
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- MEA - Market size and forecast 2019-2024
- South America - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
Vendor Landscape
- Overview
- Landscape disruption
Vendor Analysis
- Vendors covered
- Market positioning of vendors
- AB Alvenius Industrier
- American Piping Products Inc.
- Detroit Nipple Works Inc.
- Improved Piping Product Inc.
- Missouri Pipe Fittings Co.
- Morrill Industries Inc.
- Mueller Industries Inc.
- Quality Pipe Products Inc.
- Smith-Cooper International Inc.
- TUBESPEC
Appendix
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
