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Piping is a common term related to the the conveyance of gaseous and fluidic substances used in residential, commercial and industrial applications. The fittings are the tangential of pipes that help in measurement and regulation of fluidic flow. Piping is an important instrument that helps in carrying out fluid and gases with high parameter constraints such as high temperature, high pressure, and heavy flow. Major applications that demand pipings and fittings are irrigation, water supply, sewage management, etc. with rising demand for PVC pipes over the forecast period. Chemicals, oil and gas, pharmaceutical industries highly depend upon the ideal piping and fittings system, as their inappropriate fixing may cause deadly hazards and heavy business losses.
With an upright growth trend, population throughout the world is increasing with rising demand for urbanization and construction projects. The market for the construction materials is on high demand for prerequisite residential, commercial and industrial applications. Appropriate designing of drainage system is the primary need for urbanization, thus uplifting the global piping and fittings market in the near future. Rain water harvesting has become on eof the important environment saving aspect, that has helped fuel the piping and fittings market globally. Moreover, refurbishment of exsisting building and the construction of new structure highly require efficient piping and fitting systems for integration. However, pipes made up of several metal material including steel, aluminum, etc. boast disadvantages such as heavy in weight, corrosive and high purchasing and maintenance cost of metal pipes, hampering the market growth. The metal pipes are likely to get replaced with the PVC pipes wherein the improper disposal of PVC pipes emits green house gases polluting the environment, hence limiting the substitue options for the customers.
Key Market Driver -
• Rising urbanization led to increase in designing proper drainage systems • Emergence of rain water harvesting system • Growth in refurbishment and new infrastructural construction projects
Key Market Restraint -
• Corrosive, heavy and less cost effective metal pipes • Improper disposal of PVC pipes
Manufacturers are focusing on enhancing their manufacturing processes, filtering the piping prices to cater the rising demand for piping and fittings in several residential, construction, oil and gas, and many other sectors. With the necessity for upholding their market position, major market players are offering additional post purchase maintenance facilities and services, with rising investments in research and development.
Some of the key competitors in the piping and fittings market include Saint-Gobain, LIXIL Group Corporation, Jaquar Corporation, Kohler Company, Hindustan Sanitaryware and Industries Ltd (Hindware), Aliaxis Group, Alumasc Building Products, Aluminum Roofline Products (ARP), Amazon Civils, Anglian Home Improvements, Ash & Lacy Building Systems, Marley Plumbing & Drainage, McAlpine and Co, Pegler Yorkshire Group, PF Copeland Rainwater Systems and others.
Asia Pacific is anticipated to witness highest market growth in the coming years owing to the deployment of several infrasturtcural projects and the need for rain water harvestment to cater the need of water to rural areas for longer duration. The South Asian Network for Development and Environmental Economics (SANDEE) is a regional network that brings together analysts from different countries in South Asia to adrees the environmental problems. As per the SANDEE’s study, in Nepal, the adoption of rain water harvesting increments to annual benefits of USD 700 per year, and expected to grow at value of USD 1.3 million per year, therefore fueling the demand for piping and fittings across the region.
North America and Europe piping and fittings market is propeling with rising investments in an appropriate waste water treatment plants. As per the United States Environmental protection Agency (EPA), U.S. government is expected to invest USD 271 billion for the waste water treatment infrastructure over the next 25 years. Similarly, the European Investment bank (EIB) stated that in 2019, the European government invested nearly EUR 2.4 billion out of which, 11.5 millio were invested for improving sanitation respectively. These factors surge the demand of piping and fittings market across North America and Europe.
Middle East and Africa (MEA) is driving the market with its huge construction and oil and gas sector investments around the world. Moreover, Saudi Vision 2030 program is becoming the key growth factor for the GCC construction sectors development and the major countries of the MEA are developing, as it is the key production region for oil and gas with highest trding of the same across the world.Latin America observed to benefit their trading and country wise GDP by investing in construction and refurbishment projects, rising the demand of piping and fittings market.
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