What Is The Current and Historic Market Size Analysis Of The Carbon Steel Pipe Fittings Market?
The carbon steel pipe fittings market has seen considerable growth due to a variety of factors.
•The market size of carbon steel pipe fittings has seen robust growth in the past few years. It is projected to expand from $7.33 billion in 2024 to $7.73 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.5%.
Factors such as global trade and export, replacement and maintenance, cost-effectiveness, resistance to corrosion and longevity, alongside demand in manufacturing and fabrication, have attributed to the historical growth.
What Are The Predictions for The Carbon Steel Pipe Fittings Market Size In The Coming Years?
The carbon steel pipe fittings market is expected to maintain its strong growth trajectory in upcoming years.
• Expectations are high for robust expansion in the carbon steel pipe fittings market in the upcoming years. The market is projected to rise to "$9.87 billion by 2029, with a compound annual growth rate (CAGR) of 6.3%.
This growth during the forecast period is likely due to factors such as infrastructure development projects, surge in industrialization, expansion in the energy sector, urbanization and construction activities, and demands from the replacement market. Foreseen trends for this period comprise collaborations and partnerships, incorporation of IoT and analytical insights, focus on health and safety norms, market growth in emerging regions, and the use of modular and prefabricated solutions.
Which Key Drivers Are Propelling The Carbon Steel Pipe Fittings Market's Growth?
The escalating development in the construction and infrastructure industries is anticipated to drive the expansion of the carbon steel pipe fittings market in the future. The term "construction" denotes the act of creating or constructing physical infrastructures such as buildings, bridges, roadways, and other crucial infrastructures. Infrastructure, on the other hand, refers to the essential amenities and systems that support a community or an entity, which includes transportation, communication, sewage, water, and electricity systems. Carbon steel pipe fittings are frequently used across construction and infrastructure industries for diverse applications, including plumbing, HVAC (heating, ventilation, and air conditioning) systems, fire safety systems, and structural supports. These fittings are chosen due to their impressive strength, longevity, and corrosion resistance, making them ideal for utilization in harsh conditions and intensive applications. For example, the Office for National Statistics, a government department in the UK, reported in November 2023 that there was a surge in new construction activities by £18,161 million ($19.96 million) in 2022, with private sector projects expanding by 16.8% and public sector projects escalating by 13.1%. Consequently, the burgeoning construction and infrastructure sectors are fueling the growth of the carbon steel pipe fittings market.
What Are The Key Segments Within The Global Carbon Steel Pipe Fittings Market?
The carbon steel pipe fittings market covered in this report is segmented –
1) By Type: Hot-Rolled Steel Pipes, Cold-Rolled (Drawn) Steel Pipes
2) By Application: Oil and Gas, Chemicals and Petrochemicals, Construction and Infrastructure, Industrial
3) By Distribution Channel: Online, Offline
Subsegments:
1) By Hot-Rolled Steel Pipes: Standard Hot-Rolled Steel Pipes, Structural Hot-Rolled Steel Pipes, Hot-Rolled Seamless Steel Pipes
2) By Cold-Rolled Steel Pipes: Cold-Rolled Steel Pipes For Structural Applications, Cold-Rolled Seamless Steel Pipes, Cold-Rolled Welded Steel Pipes
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How Are New Trends Impacting The Size Of The Carbon Steel Pipe Fittings Market?
Adopting technological advancements is a predominant trend in the carbon steel pipe fittings market. To bolster their market stance, numerous well-known companies in the sector are turning to novel technology. For instance, NIBCO Inc., a renowned US-based flow solution provider, started utilizing press technology in March 2023 for fuel and gas carbon steel pipe applications. This move aimed at enhancing and introducing 2-inch diameters in the existing BenchPress G carbon steel fittings portfolio. Not only does the BenchPress G press technology allow swift and cost-effective installation of carbon steel piping systems for residential, commercial, and industrial purposes, it also guarantees regular joint consistency and a refined aesthetic. Moreover, installation becomes easier, neater, faster, and doesn't need threading tools or lubricants.
Who Are the Key Players in the Carbon Steel Pipe Fittings Market?
Major companies operating in the carbon steel pipe fittings market include:
• Awaji Materia Co. Ltd.
• Bassi Luigi and C. S.p.A
• Delcorte SAS
• Erne Fittings GmbH
• M.E.G.A. S.p.A.
• Parker Hannifin CORP
• S.S.E. Pipefittings Limited
• SBC Bend Co. Ltd.
• Sungkwang Bend Co. Ltd.
• Thai Benkan Co. Ltd
• Xinfeng Pipe-fittings
• Yingkou Ever Foundry Co.Ltd
• Shandong Jintong Pipeline Co. Ltd
• Zhejiang Jiuli Hi-Tech Metals Co. Ltd.
• Jiangsu Wujin Stainless Steel Pipe Group Co. Ltd.
• Dodson Global
• Arcelor Mittal
• Baosteel Group Corporation
• Nippon Steel
• Tenaris SA
• Aliaxis
• JFE Holdings Incorporated
• TMK PAO
• Tianjin Pipe Group Corporation
• Salzgitter AG
• Chelpipe Group
• Dynamic Forge & Fittings
• Metline Industries
• Rajendra Industrial Corporation
• Steel Mart India
What are the Regional Insights into the Carbon Steel Pipe Fittings Market?
Asia-Pacific was the largest region in the carbon steel pipe fittings market in 2024.North America is expected to be the fastest-growing region in the global carbon steel pipe fittings market report during the forecast period. The regions covered in the carbon steel pipe fittings market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
