Global Water and Wastewater Pipe Market -Growth Drivers, Opportunities and Forecast Analysis to 2024
The Global Water and Wastewater Pipe Market 2020 is prompted to record 6.53% CAGR during the forecast period, 2013-2024. The progress in the market can be observed with the rising factors from all corners of the globe. Market Research Future estimates the figures and reveals that the market will witness high growth prospects in the coming years.
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Top Impacting Factors
The wide-reaching market for water and wastewater pipes is progressively turning into a lucrative stream of investment for some years. The growth of the market since then is attributed to the stimulus of development across municipal bodies and corporations. The requisite use of water and wastewater pipes across the cities and urban centers has given a considerable thrust to market growth.
The factor of proper planning and management of infrastructure across villages has also emerged as a pivotal trend across several regional spots. By this, the global water and wastewater pipes market is attracting high revenues from multiple avenues and creating opportunities to spur in the market. Fundings in the water and wastewater pipes market are proposed to obtain favorable returns in the coming years. All these factors have necessarily initiated high growth prospects in the forecast period, estimates MRFR in its study.
Moving ahead, the need for improved sanitation, drainage, and supply systems has also led to some essential developments within the global water and wastewater pipes market. In the case of point, The New Plymouth Wastewater Treatment Plant, built in the year 1984, opened doors to visitors in November 2019. The wastewater treatment plant is amongst an essential component of the drainage and sanitation system. It treated millions of cubic meters of sewage water and had a dense network of pipes. Therefore, the developments across this plant have been a critical motivator initiating demand within the global water and wastewater pipes market.
Furthermore, the growth of the global water and wastewater pipes market is also allied to the surged sale of pressure measurement meters and pumps. The achievement of administrative authorities and governments is chiefly defined by abilities to ensure a regular supply of potable water to households and commercial units. Besides, water consumption across the industrial sector also necessitates the development of proper water and wastewater pipelines. Henceforth, the prime requirements of all the key sectors are indicative of the need for improved water and wastewater pipes. Also, the availability of improved materials for manufacturing pipes has aided the growth of the global market and will continue with it throughout the forecast period.
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Segmentation of Market: Water and Waste Water Pipelines
The global water and wastewater pipe market, as per segmental analysis, has included segments of material type and application.
Depending on material type, the global water, and wastewater pipes market has included metal pipe, concrete pipe, plastic pipe, and clay pipe. Among these, the plastic pipe segment can lead the global market, owing to its flexibility, lightweight, durability, and versatility.
Depending on the application segment, the global water and wastewater pipes market has included industrial, municipal, and agricultural. Among these, the municipal segment owns maximum market share in support of a substantial increase in public water and sewer infrastructure expenditure. In fact, the demand for water and wastewater pipes is also likely to rise significantly. State and municipal governments, across main regions, are focused on escalating investments to advance existing pipelines.
Europe, North America, South America, Asia-Pacific (APAC), and the Middle East & Africa are the regions where the study of the global water and wastewater pipe market has been conducted to understand the market dynamics.
Among these, the Asia-Pacific region seems to lead the water and wastewater pipe market in the foretell period. The expansion of the infrastructure and construction industries and the improvement in the financial conditions in this region has led to the growth of the construction industry and, consequently, the water and wastewater metal pipe market. Fast industrialization and urbanization in emerging countries such as China, India, and Japan have also boosted the escalation of the water and wastewater pipes market. The study also finds that activities such as refurbishing and renovation of old buildings have raised the investments in the infrastructure and construction industries, thus fuelling the water and wastewater pipe industries in Asia-Pacific. As claimed by the National Bureau of Statistics of China, back in 2017, the value-added output of the construction industry achieved USD 816.6 billion, as compared to the USD 2.1 billion valuations gained in 1978, at an average annual growth rate of 16.6%. The APAC region has experienced rapid growth in industrialization and growing population levels that have outpour the demand for reasonable housing. The remarkable growth of the construction industry is estimated to give a thrust to the water and wastewater pipe market during the foretell period.
Top Market Players
The top players actively investing in the global water and wastewater pipe industry are listed as Saint-Gobain Group (Germany), Aliaxis Group SA/NV (Belgium), Tenaris (US), Mexichem S.A.B. de C.V. (Mexico), CEMEX S.A.B. de C.V. (Mexico), Tyman plc. (US), Future Pipe Industries (UAE), JM EAGLE, INC. (US), National Pipe & Plastics (US), CHINA LESSO (China), and AMERICAN (US).
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