Water and Wastewater Pipes Market is anticipated to witness a growth rate of around 6.5% over the decade (2022-2032) - Persistence Market Research
NEW YORK, Feb. 24, 2022 /PRNewswire/ -- The global water and wastewater pipes market is anticipated to witness a growth rate of around 6.5% over the decade (2022-2032). Market growth is mainly attributed to rise in urbanization, growing construction sector, and increased government spending on water infrastructure.
Use of water and wastewater pipes has seen significant growth since the past few years, prominently due to increasing investments in water infrastructure by various governments. Additionally, international organizations such as the World Bank also offer financial assistance for improving water infrastructure in economically developing countries.
Increased investments in residential as well as commercial construction all over the world coupled with growth in per capita expenditure in the past few years has uplifted the market. Furthermore, this expenditure is anticipated to continue as the net income of individuals will keep increasing over the coming years.
The global water and wastewater pipes market was significantly impacted by the COVID-19 pandemic. In FY2020, market growth was limited due to a significant drop in the agriculture, construction, and other industrial sectors. However, with increased vaccination rates and a lower COVID-19 case count, as well as government programs, tax reliefs, and other economic efforts, demand for water and wastewater pipes is expected to regain traction over the coming quarters.
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Key Takeaways from Market Study
- Global demand for water and wastewater pipes is forecasted to cross a value of US$ 120.9 Bn by the end of the assessment period.
- North America is set to remain one of the key regional markets accounting for over 25% of the global market share.
- By product type, demand for plastic pipes is anticipated to witness a CAGR of 7% over the decade.
- The market in India is expected to grow at a substantial rate of 7% over the forecast period.
- East Asia to remain the fastest-growing regional market through 2032.
"Key market players are focusing on strategic expansions to cater to increasing demand and provide more sustainable water and wastewater pipes," says a Persistence Market Research analyst.
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Competitive Landscape
The global market for water and wastewater pipes has been identified as a moderately fragmented space, owing to which, leading companies account for around one-fifth of the market share.
Some of the key market players included in the report are Cabot Corporation, Tata Steel Limited, Cemex, S.A.B. de C.V., Nippon Steel Corporation, AMERICAN (American Cast Iron Pipe Company), Sekisui Chemical Co., Ltd., Future Pipe Industries, China Lesso Group Holdings Limited, Orbia, JM EAGLE, INC., and Aliaxis Group SA.
Key market participants are expected to maintain a competitive environment all over the globe.
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More Valuable Insights on Offer
Persistence Market Research, a research and consulting firm, has published a new market research report on the global water and wastewater pipes market that contains industry analysis of 2012–2021 and opportunity assessment for 2022–2032.
The report provides in-depth analysis of the market through different segments, namely, product type, pipe diameter, end use, application, and region. The report also provides supply and demand trends along with an overview of the parent market.
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