A16104 | Pages: NA | Jul 2022 | 80 Views | | |
Author(s) : Roshan Deshmukh | Tables: NA | Charts: NA |
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Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Gas Pipe Fittings Market
Request Now !Fixing gas pipes, ventilation or flue pipes, commissioning gas appliances, and guaranteeing their safe functioning are all covered by gas pipe fittings. Ships, caravans, mobile homes, railroads, boats, and other vehicles are equipped with gas pipes. Additionally, gas pipe fitting is installed within a building for gas delivery in both residential and commercial settings. Gas pipe fittings are generally used to establish or repair pipes or tube systems that transport gas and, on occasion, liquid. Corrosive liquids, medical or laboratory wastes, and pharmaceutical production are just a few of the uses for gas pipe fitting. The gas pipe fittings are created to satisfy the performance needs of certain applications that could increase efficiency. With the outbreak of the COVID-19 pandemic, the government enforced a lockdown that halted the operations in different sectors. The halt in operations had led to a fall in the requirement for gas pipe fittings from the commercial and industrial sectors.
Market Scope and Structure Analysis
Report Metric | Details |
Market Size Available for Years | 2020–2030 |
Base Year Considered | 2020 |
Forecast Period | 2021–2030 |
Forecast Unit | Value (USD) |
Regions Covered | North America, Europe, Asia-Pacific, and LAMEA |
Segments Covered | Type, Product, Material, Application, End User, and Region |
Companies Covered | Sunlion Piping Engineering Co. Ltd., Aston Fittings Ltd., Radius System Ltd., Dalian Norpico Pipe Fitting Making Co. Ltd., LFF Group., Border States Industries, Inc., Charlotte Pipe and Foundry Company., JM Eagle Corporation., Plasson USA LLC., and GPS PE Pipe System Ltd. |
COVID-19 Impact Analysis
Top Impacting Factors
Market Trends
The increased consumption of natural gas is driving the gas pipe fittings market.
Natural gas consumption grew considerably in 2019, reaching 3,929 billion cubic meters, thanks to rising demand in a variety of industries, including power generation and transportation. This trend is projected to continue in the future years, with the gas pipe fitting infrastructure likely to be driven by it. Qatar remained the world's top LNG exporter in 2019, with 107 billion cubic meters exported, a position it has maintained for more than a decade. The global LNG trade is anticipated to grow significantly, resulting in increasing demand for the gas pipe fittings network as well. The development of new natural gas sources, such as shale gas reserves, and the resultant price pressure are driving up natural gas international commerce. As a result, transportation and storage volumes are also increasing. As a consequence of these changes, the demand for gas pipe fittings in the market is projected to rise.
The increase in the development of new projects from all around the world is contributing to the growth of the gas pipe fittings market.
With the increase in construction of new projects such as the USD 705 million Zeelink gas pipeline recently completed by Open Grid Europe. The Zeelink gas pipeline is a 134-mile (215-kilometre) pipeline built by Open Grid Europe GmbH and Thyssengas GmbH in collaboration. This type of numerous projects from all around the world is fueling the need for gas pipeline fittings. The high sales of gas pipelines are increasing the growth of the gas pipe fittings market.
Key Benefits of the Report
Questions Answered in the Gas Pipe Fittings Market Research Report
Key Market Segments
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