According to a research report “ Pipe And Tubing Tools Market” by Type (Piping equipment, Tubing equipment) End-user (Oil and gas, Water and wastewater, Infrastructure and construction, Others) Geography (North America, APAC, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 561.8 million, at a CAGR of 3.2% during the forecast period. The global construction sector exhibits a nuanced expansion trajectory, with certain regions experiencing growth despite challenges in others. The Chinese economy's deceleration has caused ripples in the construction industry, yet emerging economies like India and Indonesia present promising opportunities. Government initiatives such as India's Smart Cities Mission, Make in India, and Housing for All programs are set to instigate substantial construction activities. These initiatives target major cities and state capitals, with significant investments allocated for infrastructure enhancement. Consequently, the demand for pipe and tubing tools is anticipated to surge, as these projects necessitate extensive pipe and tubing installations..
Browse market data tables, figures, and in-depth TOC on “Pipe And Tubing Tools Market” by Type (Piping equipment, Tubing equipment) End-user (Oil and gas, Water and wastewater, Infrastructure and construction, Others) Geography (North America, APAC, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Type, the Piping equipment segment is projected to dominate the market size in 2024
In the realm of pipe and tubing tools, various equipment plays a pivotal role in ensuring the efficient and effective operation of piping systems. Among these tools are valves, flanges, and actuators. Flanges, a fundamental component of pipeline infrastructure, facilitate the interconnection of pipes, valves, pumps, and other apparatuses. Their primary function is to enable easier cleaning, inspection, and modification. Flanges can be joined through welding or screwing, with the seal established by bolting two flanges together and inserting a gasket. Actuators, another indispensable tool, serve to facilitate the movement and control of mechanisms or systems. Their most basic function is to aid in the operation of a valve, thereby regulating the flow of fluids or gases.
By End-user, Oil and gas segment is expected to hold the largest market size for the year 2024
The pipe and tubing market within the oil and gas sector caters to the demand for tubing and piping systems utilized in oilfields, petrochemical applications, and gas fields. The oil and gas industry has experienced a fluctuating business landscape, with significant price volatility observed in 2014. Crude oil prices surged to USD90-USD100 per barrel before plummeting to a more modest USD60 per barrel by year-end. Prices continued to decline, reaching USD40-USD50 per barrel during the summer of 2015. Prices further dipped to USD40 per barrel by the end of that year. Stability in crude oil prices was achieved between 2017 and 2019, only to be disrupted by the COVID-19 pandemic in 2020, causing another significant price decline.
North America is forecasted to hold the largest market size by region in 2024
The Pipe and Tubing Tools market represents a significant business opportunity, driven by the increasing demand for infrastructure development and maintenance in various industries. Key players in this sector offer a range of specialized tools for cutting, bending, threading, and joining pipes and tubes. These tools are essential for efficient and cost-effective production in sectors such as oil and gas, power generation, and manufacturing. Market growth is expected due to ongoing infrastructure projects and the need for continuous maintenance and upgrades.
The Pipe And Tubing Tools Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The Pipe and Tubing Tools Market has witnessed significant growth in the petrochemical industry due to the increasing demand for steel tubes and pipes for structural purposes in refineries and chemical plants. The market for rustfree, anticorrosion pipes and tubes, particularly for inside diameters and outside diameters suitable for gas (Propane, Gas) and fluid (Oil, Water) transport, has seen a surge in the second quarter of 2020, despite the Corona virus-induced lockdown and its impact on manufacturing and commercial activities. Iron and steel pipes and tubes, with varying pressure ratings, continue to be in high demand from large industries. Local service providers cater to the needs of small-scale industries and individual projects, offering both manual tools like hacksaws and manual pipe and tube cutters, as well as automatic pipe and tube cutting solutions. The market for scaffolding and related tools remains strong, as the construction and maintenance of petrochemical plants and pipelines require continuous upkeep. Despite the challenges posed by the pandemic, the market for pipe and tubing tools is expected to remain robust, driven by the ongoing demand for petrochemicals and the need for reliable infrastructure to transport and process them.
Market Research Overview
The Pipe and Tubing Tools market encompasses a wide range of products used in the production, installation, and maintenance of pipes and tubing made from various materials such as Polyethylene, Polypropylene, HDPE, UPVC, and Steel. In the plastics segment, the market caters to the needs of the construction sector, petrochemical, and gas industries. The use of plastic pipes in construction is on the rise due to their low maintenance costs and transportation costs. In contrast, the steel tubing market serves the power plant, mechanical engineering, chemicals, and automotive industries. The seamless segment of steel tubes is popular in power plants and large industries due to its rust-free and anticorrosion properties. The market also caters to the needs of the automotive industry for diesel particulate filters, engine blocks, and diesel spark plugs. The market for pipe and tubing tools includes various types of cutting tools such as Laser pipe cutters, SAW, ERW, Seamless, and manual and automated cutters. The market is driven by construction expenditures, industrialization, and infrastructure development, particularly in developing economies. The market is also influenced by factors such as the Corona virus and lockdown, which have affected manufacturing operations and workforce availability. The future estimations of the market are positive, with investment pockets in green buildings, residential projects, and commercial applications. The market is expected to grow due to technical advancements in pipe and tubing tools, including the use of hacksaws, manual cutters, and automatic pipe and tube cutters. The market also caters to the needs of small-scale industries and local services. The market for pipe and tubing tools includes various types of pipes and tubes, including those for transporting gas, oil, water, propane, and other chemicals. The market offers various sizes, inside diameters, outside diameters, and pressure ratings to cater to the diverse needs of industries. The market for steel pipes includes various types of steel, including stainless steel, mild steel, iron steel, carbon steel, alloy steel, and black steel. The market also offers tubes for structural purposes, such as scaffolding and wind turbines. In conclusion, the pipe and tubing tools market is diverse and caters to the needs of various industries, including construction, petrochemicals, gas, power plants, mechanical engineering, chemicals, automotive, and others. The market is driven by factors such as construction expenditures, industrialization, and infrastructure development and is expected to grow due to technical advancements and the increasing demand for eco-friendly and cost-effective solutions.
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