The global piping system and piping spools market size was valued at $4.46 Billion in 2020 and is expected to reach $6.69 Billion by 2028 growing at the CAGR of 5.03% from 2021 to 2028. This growth is attributed to several macro and microeconomic factors such as
- Growth in exploration and drilling activities for oil around the globe
- Increase in government investment in oil & gas refinery project is expected to cater to the growth of the piping system and piping spools market
- Driver 3
Further several factors restraining the market growth include
- Fluctuation in raw material prices required for piping spools
- Restrain 2
Collaborations and Alliances in the piping system and piping spools market are expected to generate higher avenues during the forecast period.
The COVID-19 pandemic has led to supply chain disruptions leading to supply shortages or lower demand in the piping system and piping spools market. The travel restrictions and social-distancing measures have resulted in a sharp drop in consumer and business spending and this pattern is to continue for some time. The end-user trend and preferences have changed due to the pandemic and have resulted in manufacturers, developers, and service providers adopting various strategies to stabilize the company.
 In terms of COVID 19 impact, the Piping System and Piping Spools market report also includes following data points:
- Impact on Piping System and Piping Spools market size
- End-User Trend, Preferences, and Budget Impact
- Regulatory Framework/Government Policies
- Key Players Strategy to Tackle Negative Impact/Post-COVID Strategies
- Opportunity in Piping System and Piping Spools market
Key Insight in the report:
The global piping system and piping spools market report covers executive summary, market dynamics, COVID impact & post COVID scenario, market size and forecast, competitive intelligence, market positioning, and product offerings.
Our report covers extensive competitive intelligence which includes following data points:
- Business Overview
- Business Segment Data
- Financial Data
- Product Segment Analysis and Specification
- Recent Development and Company Strategy Analysis
- SWOT Analysis
The report covers market sizing and forecasting at the country level as well as at the segment level. Piping system and piping spools market is analyzed across below-mentioned different segments:
- Material
- Stainless Steel
- Carbon Steel
- Alloy Steel
- Others
- End-user
- Power Plant
- Petroleum Refineries
- Offshore, Shipbuilding, and Marine
- Chemical and Fertilizers
- Pharmaceuticals
- Others
Piping system and piping spools market is also analyzed across below-mentioned regions/countries:
- North America
- US
- Canada
- Mexico
- Europe
- UK
- Germany
- France
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- Rest of the World
- South America
- Middle East & Africa
Some of the key players in piping system and piping spools market include:
- Dee Piping System
- Metal Forge
- Prosaic Steel and Alloys
- S. Pipe
- Cogbill Construction
- ChelPipe Group
- Yena Engineering
- Cimtas Pipe Fabrication and Trading Co Ltd
- Sung IL Sim Co. Ltd.
- Larsen & Toubro Limited
REPORT CONTENT BRIEF:
- High level analysis of the current and future market trends and opportunities
- Detailed analysis on current market drivers, restraining factors, and opportunities in the future
- Piping system and piping spools market estimates for 2020 and forecast from 2021 to 2028
- Vendor market share analysis at each product level
- Competitor analysis with a detailed insight into its product segment, financial strength, and strategies adopted.
- Identifies key strategies adopted including product launches and developments, mergers and acquisitions, joint ventures, collaborations, and partnerships as well as funding taken and investment done, among others.
Target Audience
- Manufacturers
- Suppliers and traders
- Government, associations, and industrial bodies
- Investors and trade experts
- Consulting Firms or Individual Consultant
- Anyone interested in understanding industry dynamic of piping system and piping spools market
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