With the emergence and long-term Impact of COVID-19, Global Copper Pipes and Tubes Market to reach USD XX billion by 2030
Bizwit Research & Consulting LLP’s recent analysis on the Global Copper Pipes and Tubes Market points towards a potential rise to USD XX billion by 2030. Copper pipes and tubes are cylindrical, hollow conduits made primarily from copper metal. They are commonly used in plumbing, heating, cooling, and various industrial applications due to copper’s excellent thermal and electrical conductivity, corrosion resistance, and durability. The Copper Pipes and Tubes Market is expanding because of factors such as rising construction and infrastructure development projects, rising demand for HVAC (heating, ventilation, and air conditioning) systems and rising development of solar panels and wind turbines.
The construction of residential and commercial buildings often involves the installation of plumbing, HVAC systems, and electrical wiring, all of which require copper pipes and tubes. The growth in real estate development and urbanization leads to a direct increase in the demand for copper products, resulting in market growth. According to the Institution of Civil Engineers’ report, it is anticipated that the global construction market would achieve a value of USD 8 trillion by 2030. Moreover, according to Statista, the worldwide expenditure on the construction sector amounted to USD 12 trillion in 2019 and increased to USD 12.9 trillion in 2021, with a projected growth trajectory that could see it reaching USD 19.2 trillion by 2035.
This rising spending indicates rising number of various construction projects, resulting in market growth. In addition, rising demand from industrial applications and rising adoption of electric vehicles are creating new opportunities for market growth. However, fluctuation in raw material prices, environmental concerns and regulatory compliances hamper the market growth throughout the forecast period of 2023-2030.
Geographically, the global Copper Pipes and Tubes market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Middle East and Africa (MEA). Asia Pacific dominated the market in 2022 owing to factors such as the rising number of construction projects, rising development of various renewable energy projects, rising industrialization, and technological advancements in the region. Whereas, Europe is projected to register the fastest growth owing to factors such as green building projects, rising development of new manufacturing plants, and rising industrial development in the region.
The global Copper Pipes and Tubes market is highly competitive owing to the presence of several key players such as Furukawa Electric Co., Ltd KME Germany GmbH Kobe Steel, Ltd. Luvata (Mitsubishi Materials Corporation) Mueller Industries Inc. KMCT Corporation Cerro Flow Products LLC Golden Dragon Precise Copper Tube Group Inc. Mehta Tubes Limited Qingdao Hongtai Metal Co., Ltd., and others.
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Key findings of the study suggest:
- Global Copper Pipes and Tubes Market is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2023-2030.
- In the Type segment, L type emerged out as the leading market segment in 2022.
- Asia Pacific is anticipated to drive regional growth owing to the rising number of construction projects, rising development of various renewable energy projects, rising industrialization, and technological advancements in the region.
- Europe is expected to grow at higher rate followed by Asia Pacific during 2023-2030.
Bizwit Research & Consulting has considered following segments for the study:
By Type:
- L type
- M type
- K type
By Outer Diameter:
- 3/8, 1/2, 5/8 Inch
- 3/4, 7/8, 1 Inch
- Above 1 Inch
By End User:
- HVAC
- Industrial Heat Exchanger
- Plumbing
- Electrical
- Others
Regional Outlook
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Korea
- Australia
- RoAPAC
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
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Bizwit Research & Consulting LLP is a global provider of business intelligence & consulting services. The company has a strong primary base of key industry leaders along with the chain of industry analysts to analyze the market trends and its future impact in order to estimates and forecast different business segments and markets. Bizwit incorporate big data, expert analysis, and huge industry database to deliver client focused business consulting reports. Our analysts perform unbiased measurement and assessment of market opportunities to comprehend detailed market forecast. Our team of key opinion leaders evaluates the market size, growth prospects, end-use, applications, value & supply chain and top vendors in the industry to help the clients to take conversant business decisions without any vague assumptions.
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