Carbon Steel Pipe Fittings Global Market Report 2024

The carbon steel pipe fittings market has grown strongly in recent years. It will grow from $6.97 billion in 2023 to $7.38 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The expansion observed in the past period can be linked to several key factors, including the surge in global trade and exports, the need for replacements and maintenance, the cost-efficiency of the product, its resilience against corrosion, and its durable nature. Additionally, there was an upswing in demand due to manufacturing and fabrication requirements.

The carbon steel pipe fittings market is expected to see strong growth in the next few years. It will grow to $9.11 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. Anticipated growth in the upcoming period is primarily driven by expansive infrastructure development initiatives, the continual rise of industrialization, growth within the energy sector, increasing urbanization, and ongoing construction endeavors. Moreover, there's an expected surge in demand within the replacement market. Noteworthy trends projected for this period involve increased collaboration and partnerships, the integration of IoT and analytics, a heightened focus on health and safety standards, market expansion initiatives targeting developing regions, and the growing prevalence of modular and prefabricated solutions.

The projected growth in the carbon steel pipe fittings market is strongly linked to the surging construction and infrastructure sectors. Construction involves erecting physical structures such as buildings, bridges, and roads, while infrastructure encompasses fundamental systems supporting society. Carbon steel pipe fittings play a pivotal role in these sectors, catering to plumbing, HVAC, fire protection systems, and structural support due to their robustness, corrosion resistance, and durability. For example, ToolSense reported a 4% increase, totaling 1,337,800 housing units built in 2021, with a remarkable 275% rise in residential construction between March and July 2020. Hence, the escalating construction and infrastructure domains are pivotal drivers for the carbon steel pipe fittings market.

Anticipated expansion of the carbon steel pipe fittings market is anticipated due to the burgeoning manufacturing industry. This sector involves the production of goods through diverse processes, relying on carbon steel pipe fittings for fluid and gas conveyance, ensuring efficient operations, and bolstering infrastructure integrity. Eurostat reported a 0.2% industrial output increase in the European area in July 2023, with a similar 0.1% rise in the European Union from May to April 2023. Therefore, the burgeoning manufacturing sector significantly propels the growth of the carbon steel pipe fittings market.

Technological advancements are driving significant trends in the carbon steel pipe fittings market. In 2022, Leading companies in this domain are embracing new technologies to fortify their market positions. For instance, NIBCO Inc. introduced press technology for fuel and gas carbon steel pipe applications, expanding its product lineup to include 2-inch diameters. This BenchPress G press technology simplifies and accelerates the installation process, offering users consistent joint integrity and a streamlined appearance, sans threading tools or lubricants.

Major players in the carbon steel pipe fittings market are focusing on introducing innovative products to gain a competitive edge. Allmach Piping Systems, for instance, unveiled SurePress, an advanced press system for piping applications designed for fire protection systems. This technology eliminates welding during installation, ensuring quicker, safer, and leak-proof connections, significantly enhancing reliability. Additionally, Texas Pipe and Supply's acquisition of Woodco USA in October 2022 expanded their commercial network, providing improved service to existing and potential customers across various industries. Woodco USA, a producer of carbon steel pipe fittings for the oilfield industry, complements their range of offerings.

Major companies operating in the carbon steel pipe fittings market report are 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.

Asia-Pacific was the largest region in the carbon steel pipe fittings market in 2023. 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.

The countries covered in the carbon steel pipe fittings market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain. The carbon steel pipe fittings market consists of sales of carbon steel-based ERW (Electric resistance welded) pipe fittings, welded pipe fittings, fabricated pipe fittings, seamless pipe fittings, and LSAW (longitudinal-seam submerged arc welding) pipe fittings. Values in this market are ‘factory gate’ values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

Two primary variants of carbon steel pipe fittings exist, hot-rolled steel pipes and cold-rolled (drawn) steel pipes. Hot-rolled fittings are shaped from steel processed above its recrystallization temperature, utilizing the hot rolling technique. These fittings serve varied purposes in sectors such as oil and gas, chemicals, petrochemicals, construction, infrastructure, and industrial applications. They are typically distributed through both online and offline channels.

The carbon steel pipe fittings market research report provides carbon steel pipe fittings market statistics, including the carbon steel pipe fittings industry global market size, regional shares, competitors with a carbon steel pipe fittings market share, detailed carbon steel pipe fittings market segments, market trends, and opportunities, and any further data you may need to thrive in the aspherical lens industry. This carbon steel pipe fittings market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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