Robust 5.8% CAGR, Water and Wastewater Pipe Market to Grow Due to Rising Cases of Water Supply and Distribution
Pune, Maharashtra, November 13, 2019 (Wired Release) Prudour Pvt. Ltd. The global water and wastewater pipe market is projected to be US$ 23,359.1 Mn in 2018 to reach US$ 40,959.9 Mn by 2028 at a CAGR of 5.8%.
Water is of utmost importance to humans and others life forms and is irreplaceable for drinking, bathing, and cooking, etc. Agriculture and food production is another crucial factor for the population and requires a large amount of water. Government and commercial offices, hotels and restaurants, hospitals, commercial establishments, as well as industries require clean water for several processes. Drinking water is collected from sources including rivers, lakes, ponds, etc., filtered and refined, and then distributed further. Similarly, wastewater systems collect water and sewage from residential and industrial sources, filter it further and discharge the water to rivers and lakes again. Well-designed water and wastewater system require robust pipes and piping systems that are not susceptible to erosion and other challenges, which can impede the water supply causing water shortages, droughts, or any unsanitary conditions.
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Global water and wastewater pipe market is expected to grow at a steady rate over the forecast period, owing to rapid growth in population that has translated into increasing demand for clean water. Growth in commercial, industrial, and other establishments is another factor for the growing demand for these pipes. Rising demand for food and heavy burden on agricultural lands is another segment with high growth rates for water and wastewater pipes. The Asia Pacific is estimated to hold the majority share in the global water and wastewater pipe market, owing to increasing infrastructural development activities, particularly in emerging economies, followed by North America. Asia Pacific region is also anticipated to register the highest growth rate in the global water and wastewater pipe market over the forecast period.
Rapid growth in population has also increased demand for food production and put a heavy burden on agricultural lands to yield sufficient output to match the growing demand. Increasing requirement for food production is another factor expected to boost demand for water and wastewater pipes from this segment
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Additionally, favorable government initiatives and heavy investments towards development of smart and planned cities in several economies, requiring a well-planned infrastructure for water distribution and its disposal is another factor anticipated to thrust growth of the global water and wastewater pipe market over the forecast period.
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However, improper installation of pipes by unskilled labor may also affect the working of these, which is another factor expected to slow down the growth of the global water and wastewater pipe market to a certain extent.
On the basis of material type, the market is segmented plastic, steel, ductile iron concrete, and clay. The plastic segment accounts for the majority share in the global water and wastewater pipe market.
On the basis of region, the market is segmented into North America, Europe, APAC, South America and MEA. APAC accounts majority share in the global water and wastewater pipe market.
The research report on the global water and wastewater pipe market includes profiles of some of the major companies such as Compagnie de Saint-Gobain S.A, China Lesso Group Holdings Limited, Aliaxis S.A., Mexichem, S.A.B. de C.V., Sekisui Chemical Co., Ltd., Tenaris S.A., Welspun Corp Limited, Nan Ya Plastics Corporation, Advanced Drainage Systems, Inc., Tata Steel Limited, Wienerberger AG, ISCO Industries, LLC, and other prominent players.