Report: Future of Water and Wastewater Pipe Market Looks Bright
According to a new market report published by Lucintel, the future of the water and wastewater pipe market looks promising with opportunities in the potable water pipe, wastewater pipe, and irrigation pipe applications. The global water and wastewater pipe market is forecast to grow at a CAGR of 5% from 2016 to 2021. The major growth drivers for this market are increasing investment in water and wastewater management and replacement of aging pipelines.
In this market, metal, plastic, and concrete are the major raw materials used to manufacture water and wastewater pipes. Lucintel predicts that the demand for plastic pipes is likely to experience the highest growth in the forecast period, supported by growing demand for lightweight material in the wastewater pipe application. On the basis of its comprehensive research, Lucintel forecasts that the wastewater and potable water pipes are expected to show above average growth during the forecast period.
Within the water and wastewater pipe market, wastewater pipe is expected to remain the largest application. The growth of residential and commercial construction and growth in infrastructure development are expected to spur growth for this segment over the forecast period.
By diameter, the small diameter pipe segment is expected to remain the largest market as well as have the highest growth over the forecast period due the growing demand for small diameter plastic pipe.
North America is expected to witness good growth over the forecast period because of growing infrastructural development activities and replacement of aging pipelines.
For business expansion, the report suggests new product development to reduce time and cost of installation of pipes. Emerging trends include the increasing demand of FRP pipes and usage of multilayer materials pipes for high strength. Some companies are opting for M&A as a strategic initiative for driving growth.
To read the full report, click here.
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