DUBLIN--(BUSINESS WIRE)--The "Pipe Relining Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Solution Type and End User" report has been added to ResearchAndMarkets.com's offering.
Pipe Relining Market was valued at US$ 8,162.86 million in 2021 and is projected to reach US$ 11,236.02 million by 2028; it is expected to grow at a CAGR of 4.7% from 2021 to 2028.
Greater Value Over Traditional Pipe Restoration Methods Propels Pipe Relining Market Growth
In the past, property managers, municipalities, and homeowners used traditional methods for pipe replacement to fix leaking, cracking, and root-intruded issues in their pipes. The traditional process consists of trenching and is extremely time-consuming. Also, the traditional renovation of pipes can be costly, particularly when the damaged pipes are located underneath landscaped lawns or tiled flooring, or behind finished walls.
Thus, the traditional replacement method involves the destruction of all the things that are covering the pipe. If the pipes are situated under the ground, the system has to be shut down; subsequently, the concrete base needs to be dug up and removed, together with any fill. The pipes will then be removed and discarded. After that, the installation of new pipes will take place, followed by a testing process.
Once the process is completed after so much interruption, the pipes will become operational. At the end, the contractors will need to restore the destroyed landscape and parts of the building. Thus, associated advantages of pipe relining technology over the traditional methods is fueling the growth of pipe relining market.
The pipe relining process helps in the restoration of pipes without any devastation and in the protection of pipes from several kinds of failures such as corrosion, debris buildup, root intrusion, and leaks. Further, it is a trenchless method of restoration that does not require excavation.
Thus, the pipe relining technology is considered as the most effective and emerging solution for restoration of damaged pipe systems outside and inside of buildings which is augmenting the adoption of pipe relining technology fueling the pipe relining market growth.
Furthermore, the pipe liners help in protecting the carried substances from mixing with metals inside the pipes that can cause lead leaching or decomposition. Pipe relining is an appropriate solution for drain lines and portable water lines restoration. The technology can be used for vertical applications, mechanical systems, and roof drains which is further propelling the pipe relining market growth over the coming years.
Additionally, pipe relining can help increase pipe flow which is further driving the pipe relining market. For instance, in November 2021, Capital Sewer Services (CSS) achieved a contract worth US$ 23.25 million for project in Toronto, Canada to rehabilitate around 2,280 m of trunk sewers highlighting the benefits of several trenchless methods, such as cured-in-place pipe (CIPP) lining, glass reinforced plastic (GRP) sliplining, and spray-applied shotcrete lining. Thus, the growing adoption of pipe relining owing to its associated advantages is propelling the growth of pipe relining market.
Many of the developed economies across the globe are facing major challenges owing to their aging water infrastructure. These cities are further witnessing continuous growth and urbanization, resulting in a burgeoning need for restoration of pipeline systems which is anticipated to drive the growth of pipe relining market.
Several of the European and North American cities are the oldest in the world. Thus, there is a growing concern of the aging infrastructure, unreachable water systems, and smaller pipelines. The condition of underground water infrastructure, sewage maintenance, and clean water supply is some of the key areas needs financial assistance.
The cities and municipalities are at major risk and need to find an immediate and cost-effective solution. Thus, aging infrastructure and rapid growth in urbanization are the prominent factors attributed to the growth of pipe relining market over the forecast period.
Key Findings of Study:
North America held the largest pipe relining market share in 2020. The pipe relining market growth in the region is attributed due to growing aging pipeline infrastructure and rising investment in maintaining sewerage line. North America is a technologically advanced region and has a strong infrastructure sector, with companies continuously focusing on exploring new technologies to improve efficiency.
The municipal treatment plants are quite old and carry an aged infrastructure, and as the population is growing in the region, releases from these wastewaters are becoming a problem for the surface water facilities. Pipeline relining is proved to be highly beneficial as it is inexpensive in comparison to replacing the existing pipeline by digging.
Also, the downtime for repairing the sewer pipe by curing them from inside is also very low. A quick fix can be done on the sewer pipe and prevent any harmful release of toxicants into the surface water and other environmental bodies. The demand for quick and cost-effective solutions in the construction sector in the country is expected to support the growth of the pipe relining market.
Sewer infrastructure is rapidly aging, and with the timely interventions from the Environmental Protection Agency (EPA) in the US, it is anticipated to drive the market growth in the US. The wide pipeline networks are implemented in Canada for commercial and domestic residences complexes.
The pipe relining market size is increasing at faster pace in coming years owing to growing need for restoration of pipe line infrastructure and aged pipeline facilities. The pipe relining market is, therefore, expected to grow at a steady pace in the country.
Key Market Dynamics
Market Drivers
- Greater Value Over Traditional Pipe Restoration Methods is Resulting in its Increased Adoption
- Aging Infrastructure of Developed Economies is Creating a Demand for Sewage Restoration thereby, Propelling the Pipe Relining Market
Market Restraints
- Lack of Awareness Regarding Trenchless Pipe Relining
Market Opportunities
- Burgeoning Government Investments in the Wastewater Management and Up Gradation of Sewage Infrastructure
Future Trends
- Reduction in Cost to Accentuate the Growth in Future
Key Company Profiles
- Advanced Trenchless Inc.
- Inland Pipe Rehabilitation LLC
- Roto-Rooter
- Silverlining Holding Corporation
- Aegion Corporation
- Specialized Pipe Technologies
- Nu Flow Corporate
- Perma-Liner Industries LLC
- Rpb Inc
- Pipe Restoration Solutions
For more information about this report visit https://www.researchandmarkets.com/r/d8poio
