Europe pipe market Overview:
The Europe pipe market size is scaling new heights accruing USD 73,824.8 million by 2023, at a 5.18% CAGR during the forecast period (2017-2023), Market Research Future (MRFR) reports. Pipes are essential for water and gas supply at home and large industrial plants. They are comparatively safe and environmentally friendly ways of transporting water or other liquids. Factors such as favorable government policies for construction infrastructure and energy infrastructure coupled with growing demand for water and wastewater treatment application have bolstered the pipe market in Europe.
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Moreover, with construction of new pipelines in various countries in Europe such as Germany, the United Kingdom (U.K), France, Italy, Spain, Portugal, the market has observed tremendous growth recent years. Not just this but massive investments by firms and adoption of business strategies by market players have propelled the market emphatically. Acquisitions, expansions, product launch, and collaboration are some of the actions undertaken by companies to gain a competitive edge in the region. The increasing demand from private construction firms has led to manufacturers investing in facilities to broaden their market share and brand name. The growth of the real estate sector and industrial development has spurred the Europe pipe market growth.
However, the risk of leakage through pipelines can hinder the market growth. On the other hand, increasing use of large diameter plastic pipes in construction industry is the latest market trend making its way into the pipe market in Europe.
Europe Pipe market– Segmental Analysis
The Europe pipe market is segmented on the basis of material, end-user, and country.
The types of materials mentioned in the report are plastic, steel, aluminum, concrete, and copper. The steel segment accounted for a large share of the market and likely to sustain its lead throughout the forecast period. On account of the features such as reliability and durability, the demand for steel pipes is high in the region. Moreover, steel pipes have a wide range of usability as they are used in the automotive, mining, and construction industries.
The end-users in the pipe market are oil & gas, chemicals, automotive, pharmaceutical, food processing water & wastewater, and others. Among these, the water & wastewater segment held the maximum market share of 37.96% in 2017 generating revenue of USD 21,083.2 million. It can continue to exhibit a CAGR of 4.80% throughout the forecast period. Rising demand for water management and water withdrawals for ground water and growing number of water and wastewater pipe companies competing in the market has given impetus to the water and wastewater market growth in the region.
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Country Outlook
Countries covered in the pipe market share include Portugal, Italy, Germany, the U.K, Spain, France, and Rest of Europe.
Germany has observed sluggish development of domestic oil and natural gas industry and thus relies heavily on imports. Fall in prices, unstable market conditions, and shift in competitive landscape have resulted in this slump in growth. However, government initiatives, funding, and policies along with oil and gas manufacturers can fuel market growth in the country. Strong international relations with other nations for domestic oil and natural gas supply keep the industry thriving. This industry growth induces heavy demand for pipes in Germany.
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