Piping System and Piping Spools Market: Introduction
- A piping system comprises a network of pipes, valves, and fittings to transfer different fluids such as water, chemicals, oils, etc. Piping spools are prefabricated components of the piping system. Pre-mounted piping spools are usually assembled with gauges, hoists, and other assembly tools. Piping spool fabrication process is of two types: roll fitting & welding and permanent position fitting and welding. Pre-fabrication of piping spools reduces field installation cost and improves the quality of overall piping systems. Different types of raw pipes and fittings are used in the pre-fabrication of piping spools.
Key Drivers of the Global Piping System and Piping Spools Market
- Expansion of end-use industries and rising urbanization are identified as key drivers of the market. Growth in urban settlements is usually accompanied with industrial growth and migration from rural areas. This, in turn, requires the expansion of water supply and sanitation services. Governments and municipalities are investing in water distribution systems for residential and commercial units.
- According to the U.S. Department of Economic and Social Affairs, 74% of the population in Europe resides in urban areas, while around 82% of the population in the U.S. resides in urban areas. The U.S. alone consumes about 42 billion gallons water to support daily life in households, business organizations, and factories.
Increasing Investment in Wastewater Management Offers Significant Opportunities
- Rising environmental awareness and evolving regulatory framework for the conservation of natural resources such as water, is driving strong investment in wastewater management projects. Regulatory pressure at the national and regional level has been increasing for the last few years, which in turn is prompting companies across different industry sectors to focus on new methods to recycle and dispose industrial wastewater. Additionally, the development of green cities involves the installation of water treatment plants to recycle and reuse household wastewater.
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Key Industry Trends
- Extensive research & development activities coupled with strong investment in latest technology and machinery are key focus areas of piping system and piping spools manufacturers. Increasing adoption of digital technology in various business activities is identified as a major industry trend. Digitization involves mobile apps for on-site installation support, web-based tools for dimension calculations, BIM (Building Information Modelling) software, and online product catalogues.
- Heavy investment in the rehabilitation of aging water infrastructure is a key trend that is anticipated to boost the market in the near future. For instance, In July 2020, the California Department of Water Resources (DWR) was awarded US$ 83.9 million in grants to communities in the Sacramento, San Joaquin, San Diego, Sierra and Central Coast regions for water infrastructure projects.
Europe holds Prominent Share of the Global Piping System and Piping Spools Market
- Based on geography, the global piping system and piping spools market can be classified into South America (SA), North America (NA), Europe (EU), Middle East & Africa (MEA), and Asia Pacific (APAC)
- Country-level bifurcation of the North America market includes the forecast and analysis for the U.S., Canada, and Rest of North America. Country-level analysis and forecast of the Europe market covers the piping system and piping spools market in the U.K., Germany, France, and Rest of Europe. Country-level analysis and forecast for the Asia Pacific market includes major countries in the region such as India, China, Japan, and Rest of Asia Pacific. Middle East & Africa country-level analysis and forecast for the piping system and piping spools market includes GCC countries, South Africa, and Rest of Middle East & Africa. The South America piping system and piping spools market is categorized into Brazil and Rest of South America.
- Well-developed end-use industries and stringent standards and regulations for drinking water distribution and wastewater management are driving the demand for piping system and piping spools in Europe. The market for piping system and piping spool in Asia Pacific is anticipated to expand at a rapid pace, due to heavy investment across construction and mining industries. Furthermore, countries such as India, China, and Australia hold a large number of petroleum refineries that drives the piping system and piping spools market.
Key Players Operating in the Global Market
Key companies operating in the global piping system and piping spools market are heavily investing in new product development, advanced technology, and online product distribution. Furthermore, industry participants are focused on effective expansion of plant operations in untapped markets through strategic acquisitions and partnerships.
Some of the major companies identified in the global piping system and piping spools market are:
- Yena Engineering B.V.
- Dee Piping System
- Prosaic Steel and Alloys
- Cimtas Pipe Fabrication and Trading Co Ltd.
- Cogbill Construction LLC
- CCI Leidingsystemen B.V.
- U.S. Pipe
- ChelPipe Group
- Arabian International Co for Steel Structure (AIC)
- Metal Forge India
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Global Piping System and Piping Spools Market: Research Scope
Global Piping System and Piping Spools Market, by Material
- Stainless Steel
- Carbon Steel
- Alloy Steel
- Others (Composites, etc.)
Global Piping System and Piping Spools Market, by Application
- Power Plant
- Petroleum Refineries
- Offshore and Shipbuilding
- Chemical and Fertilizers
- Others (Pharmaceuticals, etc.)
Global Piping System and Piping Spools Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
- South America
- Rest of South America
The report on the global piping system and piping spools market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers’ or customers’ journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.