Process Piping Market, By Product, By Application, By End-User, By Country, and By Region - Industry Analysis, Market Size, Market Share & Forecast from 2023-2030
Process Piping Market size was valued at USD 5,162 Million in 2022, expanding at a CAGR of 6.5% from 2023 to 2030.
Process piping is used to move fluids, including completed chemicals, intermediates, and raw materials. Process piping is essential to the chemical industry's ability to transfer fluids effectively and dependably throughout chemical industrial processes.
Process Piping Market- Market Dynamics
Increasing demand from oil & gas industries with rising needs from transportation & oil exploration to propel market demand
The market for process piping is expanding due to several factors, one of which is the increase in production and oil and gas development operations. Process piping systems are needed for oil and gas discoveries to move extracted hydrocarbon from wells to processing facilities. Furthermore, a process piping system is required to facilitate the transportation of chemicals, oil, and gas to the processing and storage facilities because of the development of upstream infrastructure, which includes drilling platforms, onshore and offshore production facilities, and offshore facilities. Liquefied natural gas plants and gas processing facilities are being created in response to the growing demand for natural gas.
One of the most important elements of oil & gas projects is the process pipe system, which makes it easier to transport gases and liquefy and store natural gas. The chemical industry's expansion directly affects the process piping sector. The Indian chemical industry was estimated to be worth USD 220 million in 2022, USD 300 million by 2025, and USD 1 trillion by 2040 by the Ministry of Chemicals & Fertilizers. These aforementioned factors are e=anticipated to fuel the market growth.
Process Piping Market- Key Insights
As per the analysis shared by our research analyst, the global market is estimated to grow annually at a CAGR of around 6.5% over the forecast period (2023-2030)
Based on Product segmentation, steam process piping segment was predicted to show maximum market share in the year 2022, due to high demand from energy projects.
Based on Application segmentation, oil refineries segment was the leading segment in 2022, due to high demand from oil piping systems.
Based on End-User segmentation, oil & gas segment was the leading segment in 2022, mainly due to growing demand for oil refining & gas piping.
On the basis of region, Asia Pacific was the leading revenue generator in 2022, owing to larger network of piping system.
Process Piping Market- Segmentation Analysis:
The Global Process Piping Market is segmented on the basis of Product, Application, End-User, and Region.
The market is divided into five categories based on Product: steam process piping, wastewater piping, crude oil piping, refrigerant piping, and fuel transfer piping. The steam process piping segment dominates the market. The growing demand from oil & gas & chemical industries are expected to boost segment demand.
The market is divided into four categories based on Application: oil refineries, paper mills, power plants, and others. The oil refineries segment dominates the market and is likely to maintain its dominance during the forecast period. The rising network of piping system for oil refinery management is boosting market growth.
The market is divided into six categories based on End-User: oil & gas, food & beverages, pulp & paper, chemical, energy & power, and others. The oil & gas segment dominates the market and is likely to maintain its dominance during the forecast period. The food & beverage segment is expected to grow at significant rate over the forecast period.
Process Piping Market- Geographical Insights
Geographically, this market is widespread into the regions of North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. These regions are further divided as per the nations bringing business. The Asia Pacific is expected to lead the market over the projected period. The need for dependable and effective pipe systems in sectors including oil and gas, chemicals, power generation, and water treatment is driven by the region's growing industrialization, urbanization, and infrastructure development.
Process Piping Market- Competitive Landscape:
The industry's leading players are concentrating on innovation and technology developments to reduce the cost of process pipes in the nation. Additionally, to strengthen their position in the renewable energy market in the upcoming years, industry participants are putting many strategic initiatives into practice. Major companies and other industry-related businesses are employing a range of strategies, including product launches, mergers, and acquisitions, to maintain their market position.
Recent Developments:
In September 2022, Venus Pipes and Tubes announced a capacity expansion to develop a larger tube mill to produce stainless steel welded pipes, at an investment worth USD 6.48 million.
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL PROCESS PIPING MARKET KEY PLAYERS
Chemical Process Piping Pvt. Ltd.
Power Process Piping, Inc.
Marshall Industrial Technologies
Carolina Process Piping, Inc.
Process Piping Materials LLC
Kinder Morgan Inc.
Bonatti S.p.A.
Thermopack Boiler Services
Bechtel Corporation
TC Energy Corporation
McDermott International Inc.
PJSC Transneft
Primoris Service Corporation
Others
GLOBAL PROCESS PIPING MARKET, BY PRODUCT
Steam process piping
Wastewater piping
Crude oil piping
Refrigerant piping
Fuel transfer piping
GLOBAL PROCESS PIPING MARKET, BY APPLICATION
Oil refineries
Paper mills
Power plants
Others
GLOBAL PROCESS PIPING MARKET, BY END-USER
Oil & gas
Food & beverages
Pulp & paper
Chemical
Energy & power
Others
GLOBAL PROCESS PIPING MARKET, BY REGION
North America
The U.S.
Canada
Europe
Germany
France
Italy
Spain
United Kingdom
Russia
Netherlands
Sweden
Poland
Rest of Europe
Asia Pacific
India
China
South Korea
Japan
Australia
Thailand
Indonesia
Philippines
Rest of APAC
Latin America
Brazil
Mexico
Argentina
Colombia
Rest of LATAM
The Middle East and Africa
Saudi Arabia
United Arab Emirates
Israel
Turkey
Algeria
Egypt
Rest of MEA
Table of Contents
1. Process Piping Market Overview
1.1. Study Scope
1.2. Market Estimation Years
2. Executive Summary
2.1. Market Snippet
2.1.1. Process Piping Market Snippet by Product
2.1.2. Process Piping Market Snippet by Application
2.1.3. Process Piping Market Snippet by End-User
2.1.4. Process Piping Market Snippet by Country
2.1.5. Process Piping Market Snippet by Region
2.2. Competitive Insights
3. Process Piping Key Market Trends
3.1. Process Piping Market Drivers
3.1.1. Impact Analysis of Market Drivers
3.2. Process Piping Market Restraints
3.2.1. Impact Analysis of Market Restraints
3.3. Process Piping Market Opportunities
3.4. Process Piping Market Future Trends
4. Process Piping Industry Study
4.1. PEST Analysis
4.2. Porter's Five Forces Analysis
4.3. Growth Prospect Mapping
4.4. Regulatory Framework Analysis
5. Process Piping Market: COVID-19 Impact Analysis
5.1. Pre-COVID-19 Impact Analysis
5.2. Post-COVID-19 Impact Analysis
5.2.1. Top Performing Segments
5.2.2. Marginal Growth Segments
5.2.3. Top Looser Segments
5.2.4. Marginal Loss Segments
6. Process Piping Market Landscape
6.1. Process Piping Market Share Analysis, 2022
6.2. Breakdown Data, by Key Manufacturer
6.2.1. Established Players' Analysis
6.2.2. Emerging Players' Analysis
7. Process Piping Market - By Product
7.1. Overview
7.1.1. Segment Share Analysis, By Product, 2022 & 2030 (%)
7.1.2. Steam process piping
7.1.3. Wastewater piping
7.1.4. Crude oil piping
7.1.5. Refrigerant piping
7.1.6. Fuel transfer piping
8. Process Piping Market - By Application
8.1. Overview
8.1.1. Segment Share Analysis, By Application, 2022 & 2030 (%)
8.1.2. Oil refineries
8.1.3. Paper mills
8.1.4. Power plants
8.1.5. Others
9. Process Piping Market - By End-User
9.1. Overview
9.1.1. Segment Share Analysis, By End-User, 2022 & 2030 (%)
9.1.2. Oil & gas
9.1.3. Food & beverages
9.1.4. Pulp & paper
9.1.5. Chemical
9.1.6. Energy & power
9.1.7. Others
10. Process Piping Market- By Geography
10.1. Introduction
10.1.1. Segment Share Analysis, By Geography, 2022 & 2030 (%)
10.2. North America
10.2.1. Overview
10.2.2. Process Piping Key Manufacturers in North America
10.2.3. North America Market Size and Forecast, By Country, 2018 - 2030 (US$ Million)
10.2.4. North America Market Size and Forecast, By Product, 2018 - 2030 (US$ Million)
10.2.5. North America Market Size and Forecast, By Application, 2018 - 2030 (US$ Million)
10.2.6. North America Market Size and Forecast, By End-User, 2018 - 2030 (US$ Million)