Piping And Fittings Market size in North America to grow by USD 14.84 billion from 2022 to 2027, The surge in E&P activities to drive the market growth

NEW YORK, May 11, 2023 /PRNewswire/ -- The piping and fittings market size in North America is estimated to increase by USD 14.84 billion from 2022 to 2027, with anCAGR of 4%, according to the recent market study by Technavio. This report also offers a 5-year historical (2017-2021) data projection of market size, segmentation, and region. Discover some insights on market size before buying the full report -Request a sample report

Qualitative and quantitative analysis of vendors has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize vendors as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize vendors as dominant, leading, strong, tentative, and weak. The Bargaining Power of Buyers & Suppliers and the Threat of New Entrants, Rivalry, and Substitutes have also been analyzed and rated between LOW-HIGH to provide a holistic view of market favorability.

Find Technavio's Exclusive Analysis of Price Sensitivity, Adoption Lifecycle, Customer Purchase Basket, Adoption Rates, and Purchase Criteria

One of the core components of the customer landscape is price sensitivity, an analysis of which will help companies refine marketing strategies to gain a competitive advantage.

Another key aspect is price sensitivity drivers (purchases are undifferentiated, the purchase is a key cost to buyers, and quality is not important), which range between LOW and HIGH.

Furthermore, market adoption rates for all regions have been covered.

The addictions therapeutics market report also offers information on the criticality of inputs, R&D, CAPEX, technology, and products of 15 vendors listed Below -

Aliaxis Group SA, Allied Group, ArcelorMittal, BASF SE, Canadoil Group, Charlotte Pipe and Foundry Co., Compagnie de Saint Gobain, Hitachi Ltd., ISCO Industries, JSW STEEL Ltd., Kohler Co., Mueller Industries Inc., Nippon Steel Corp., Orbia Advance Corp. SAB de CV, Pestan North America, Swagelok Co., The Lubrizol Corp., Uponor Corp., Victaulic Co., and Westlake Corp.

Download a Sample Report!

Piping and fittings market in North America - Segmentation Analysis

This piping and fittings market report in North America extensively covers market segmentation by material (plastic or PVC pipe, steel pipe, copper pipe, aluminum pipe, and glass pipe).

The market share growth by the plastic or PVC pipe segment will be significant for the growth of the overall market during the forecast period. The segment is driven by an increase in new construction projects in the North American region. PVC pipes are used in the construction industry because of their lower maintenance costs compared to iron and steel pipes and they are known to be durable and flexible. Thus they are used in place of cast iron pipes in plumbing and drainage applications and additionally, PVC pipes are used for underground drainage, drainage pipes, gutters, downspouts, etc. Hence, the growing investments in drainage projects in the North American region will drive the growth of the segment during the forecast period.

To procure the data - Buy report!

Piping and fittings market in North America - Market Dynamics

Key Drivers

The surge in E&P activities is the one of the major factors driving the piping and fittings market growth in North America.

Oil & Gas E&P activity rose primarily because of the increased investment in the sector. Increased E&P activity takes place both onshore and offshore.

In terrestrial areas, unconventional E&P activities such as shale have increased significantly.

For instance, in the US, E&P investments in oil and gas have increased significantly, especially in shale oil and gas fields.

Moreover, the depletion of oil and gas from easily accessible land-based locations is causing oil and gas E&P companies to look to less explored areas.

Significant Trends

The advances in material use and technology is a trend that will fuel the piping and fittings market growth in North America.

Tubing is ideal for applications requiring high flexibility and flow efficiency as well as temperature and chemical resistance and such applications are mainly found in various sectors.

They include construction, agriculture, energy, chemical, and industrial sectors. Advances in non-metallic tubing allows suppliers to improve the performance of this tubing in a variety of applications.

Market vendors constantly focus on improving the performance of concrete and polymer-based pipes by improving and modifying the properties of the raw materials used to manufacture the pipes.

Hence, such factors influence the growth of the market during the forecast period.

Major Challenges

The volatile input cost is a major challenge that may impede the growth of the market during the forecast period.

Raw material price volatility affects production costs and results in many leading suppliers of piping and fitting products enter into long-term agreements with their suppliers.

This is to reduce the impact of commodity price fluctuations on their business. Stainless steel, iron, steel, and plastic are the most important raw materials and their fluctuating prices directly affect provider contracts.

Thus, such fluctuations in service costs affect new contracts and affect the overall cost of manufacturing.

Hence, such volatility may impede market growth during the forecast period.

Geographical AnalysisAn analysis of key leading countries has been included. The increasing demand for piping and fittings products in the US is due to the initiation of several new oil and gas pipeline projects. As of 2022, the US accounts for more than 85% of all the existing oil and gas pipeline infrastructure in North America. The US has a vast history of oil and gas exploration and refining, dating back more than a century.

For Insights on the market dynamics & segmentations VIEW PDF SAMPLE !

What are the key data covered in this Piping And Fittings Market In North America report?

CAGR of the market during the forecast period

Detailed information on factors that will drive the growth of the piping and fittings market in North America between 2023 and 2027

Precise estimation of the size of the piping and fittings market in North America and its contribution to the market with a focus on the parent market

Accurate predictions about upcoming trends and changes in consumer behavior

Growth of the piping and fittings market across North America

A thorough analysis of the market's competitive landscape and detailed information about vendors

Comprehensive analysis of factors that will challenge the growth of piping and fittings market in North America vendors

Gain instant access to 17,000+ market research reports.

Technavio's SUBSCRIPTION platform

Related Reports:

The vacuum insulated piping market size is expected to increase by USD 267.74 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 5.05%. Furthermore, this report extensively covers vacuum insulated piping market segmentation by application (LNG transportation and distribution, food and beverage packaging and freezing, aerospace, electronic manufacturing and testing, and others) and geography (APAC, North America, Europe, South America, and Middle East and Africa). The growth in global LNG trade is one of the key drivers supporting the vacuum-insulated piping market growth.

The global instrumentation valves and fittings market size is estimated to grow by USD 522.29 million between 2022 and 2027 accelerating at a CAGR of 4.48%. This report extensively covers market segmentation by product (valves, fittings, and actuators), end-user (oil and gas, energy and power, chemicals, healthcare, and others), and geography (North America, Europe, APAC, Middle East and Africa, and South America). The increasing investments in modernizing industrial facilities are notably driving the instrumentation valves and fittings market growth.

Piping And Fittings Market In North America Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 4%

Market growth 2023-2027

USD 14.84 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

3.52

Regional analysis

North America

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse for Technavio's Industrials Market Reports

Table of Contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Piping and fittings market in North America 2017 - 2021

4.2 Material Segment Analysis 2017 - 2021

4.3 Geography Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Material

6.1 Market segments

6.2 Comparison by Material

6.3 Plastic or PVC pipe - Market size and forecast 2022-2027

6.4 Steel pipe - Market size and forecast 2022-2027

6.5 Copper pipe - Market size and forecast 2022-2027

6.6 Aluminum pipe - Market size and forecast 2022-2027

6.7 Glass pipe - Market size and forecast 2022-2027

6.8 Market opportunity by Material

7 Customer Landscape

7.1 Customer landscape overview

8 Geographic Landscape

8.1 Geographic segmentation

8.2 Geographic comparison

8.3 US - Market size and forecast 2022-2027

8.4 Canada - Market size and forecast 2022-2027

8.5 Mexico - Market size and forecast 2022-2027

8.6 Market opportunity by geography

9 Drivers, Challenges, and Trends

9.1 Market drivers

9.2 Market challenges

9.3 Impact of drivers and challenges

9.4 Market trends

10 Vendor Landscape

10.1 Overview

10.2 Vendor landscape

10.3 Landscape disruption

10.4 Industry risks

11 Vendor Analysis

11.1 Vendors covered

11.2 Market positioning of vendors

11.3 Aliaxis Group SA

11.4 Allied Group

11.5 ArcelorMittal

11.6 BASF SE

11.7 Canadoil Group

11.8 Charlotte Pipe and Foundry Co.

11.9 Compagnie de Saint Gobain

11.10 ISCO Industries

11.11 JSW STEEL Ltd.

11.12 Kohler Co.

11.13 Mueller Industries Inc.

11.14 Nippon Steel Corp.

11.15 Pestan North America

11.16 Uponor Corp.

11.17 Westlake Corp.

12 Appendix

12.1 Scope of the report

12.2 Inclusions and exclusions checklist

12.3 Currency conversion rates for US$

12.4 Research methodology

12.5 List of abbreviations

About UsTechnavio 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.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]: www.technavio.com/

View original content to download multimedia:https://www.prnewswire.com/news-releases/piping-and-fittings-market-size-in-north-america-to-grow-by-usd-14-84-billion-from-2022-to-2027--the-surge-in-ep-activities-to-drive-the-market-growth---technavio-301820987.html

SOURCE Technavio

Blog

Piping And Fittings Market size in North America to grow by USD 14.84 billion from 2022 to 2027, The surge in E&P activities to drive the market growth