Global Pipe Fittings market will reach 19.62 billion US$ by the end of 2025

Publisher: QYResearch
Published Date: 2019/10/22

The global production of pipe fitting increased from 13.31 billion units in 2014 to 14.94 billion units in 2018, at a CAGR of 2.93%. In 2018, the global pipe fitting market is led by China. Europe is the second-largest region-wise market. The global pipe fitting market is valued at USD 14.94 billion in 2018 and is expected to reach USD 19.62 billion by the end of 2025, growing at a CAGR of 3.97% between 2018 and 2025.

QYR pointed out that the pipe fittings industry is a huge and vague market, and many manufacturers claim to be the market leader. There are countless types of pipes and fittings around the world, and many leading manufacturers have become market leaders in the segmentation field. Aliaxis, LESSO and JM Eagle are market leaders in plastic fittings. Viega is a leading manufacturer of industrial pipe fittings and water pipe fittings worldwide. Victaulic is a pioneer in the global pipe joints and fittings market. Saint-Gobain is the world's largest manufacturer of ductile iron pipes. However, QYR pointed out that in terms of revenue, Viega, Victaulic and Meide Group are the global market leader in pipe fittings.

Despite the presence of competition problems, due to the global recovery trend is clear, investors are still optimistic about this area. In the future, the market in developed countries will have some growth and the market in developing countries will have a faster growth rate.
 
Today’s industrial marketplace is increasingly competitive and requires the ability to reduce costs, raise production and increase accuracy for any business that is going to survive. For businesses that will truly thrive, the ability to lead development and get products to market faster is also critical.

Vendors should recognize the importance of emerging markets and potential applications, particularly in Asia Pacific, and are working towards penetrating this market by strengthening their sales and distribution networks. In the future, QYR predicts that more and more companies will join the industry due to its potential market size. But it is suggested that enterprises those have plans to enter this industry have careful analysis of this market and the advantages or disadvantages of themselves.

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