Portland, OR, November 23, 2021 (GLOBE NEWSWIRE) – According to the report published by Allied Market Research, the stainless steel plumbing pipe market generated $ 4.92 billion in 2020 and is expected to reach $ 8.17 billion by 2030, registering a CAGR of 4.8% from 2021 to 2030.
Increasing construction of shopping malls and offices, increasing spending on home improvement and renovating residential and non-residential bathrooms and toilets are boosting the global stainless steel plumbing pipe market. However, fluctuating commodity prices and declining new construction activities in African countries are hampering market growth. On the contrary, the development of infrastructure in developing countries should open up new opportunities for market players in the future.
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- The Covid-19 pandemic has hampered the market due to the shutdown of manufacturing facilities for stainless steel plumbing pipes. In addition, the decline in new building construction has dampened the demand for stainless steel plumbing pipes.
- In addition, the pandemic has disrupted the supply chain and raised the prices of raw materials.
The report segments the global stainless steel plumbing pipe market on the basis of application, construction type, end user, and region.
On the basis of applications, the bathtub segment is expected to register the highest CAGR of 5.7% during the forecast period. However, the faucets segment held the largest share in 2020, accounting for over a fifth of the market.
Get a Detailed Analysis of the Impact of COVID-19 on the Stainless Steel Plumbing Pipe Market Ask here
Based on the type of construction, the renovation segment is estimated Highest CAGR 5.2% from 2021 to 2030. In addition, the segment dominated the market in 2020 in terms of revenue, contributing nearly three-fifths of the market. The research also analyzes the new construction segment.
The global stainless steel plumbing pipe market is analyzed across several regions such as North America, Europe, Asia-Pacific, and LAMEA. The Asia-Pacific region market held the largest share in 2020, accounting for nearly three-fifths of the market. However, the market through LAMEA is expected to register the highest CAGR of 5.9% during the forecast period.
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Global Stainless Steel Plumbing Pipe Market Report includes in-depth analysis of major market players such as Geberit AG, Jindal Stainless Limited, Steelmor Industries, Central States Industrial, Mueller Industries Inc., Reliance Worldwide Corporation Limited, Turnkey Industrial Pipe & Supply Inc., Uponor Corporation, Bradley Corporation and Globe Union Industrial Corp.
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About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business consulting arm of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global businesses as well as medium and small businesses with unmatched quality of â€œmarket research reportsâ€ and â€œbusiness intelligence solutionsâ€. AMR has a focused vision to provide business information and advice to help its clients make strategic business decisions and achieve sustainable growth in their respective market area.
We have professional relationships with various companies, which helps us extract market data which helps us generate accurate research data tables and confirm the highest accuracy in our market forecasts. Pawan Kumar, CEO of Allied Market Research is essential in inspiring and encouraging everyone associated with the business to maintain high quality data and to help customers in every way possible to be successful. Each of the data presented in the reports we publish is taken from primary interviews with senior officials of the main companies in the field concerned. Our secondary data sourcing methodology includes in-depth online and offline research and discussions with industry-savvy professionals and analysts.
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