Stainless Steel Plumbing Pipes Market
The global stainless steel plumbing pipes market size was valued at $8,170.7 million in 2020, and is expected to reach $4,924.2 million in 2030, growing at a CAGR of 4.8% from 2021 to 2030.
Stainless steel plumbing pipes are used in kitchen, bathroom, toilet, and wastewater applications. Stainless steel pipes are devices used in plumbing system that are used to control the flow of water. Stainless steel pipes are available in size ranging from 15 mm to 50 mm. They have features such as corrosion protection, hygienic, no fire risk, recyclable, and lightweight. Stainless steel plumbing pipes are used in residential and non-residential buildings.
Market Dynamics
Manufacturers are increasingly developing new stainless steel pipes for plumbing applications, such as faucets, bathtubs, and showerheads, which fuel the growth of the stainless steel plumbing pipes market.
The novel coronavirus has rapidly spread across various countries and regions, causing enormous impact on lives of people and overall community. Originating as a crisis to human health, it now poses significant threat to the worldwide trade, economy, and finance. Continuous lockdowns in key global countries has led to halt in production of many items in stainless steel plumbing pipes business. Market players can afford a complete lockdown only for a limited period, after which they would have to alter their investment plans. Furthermore, the number of COVID-19 cases is expected to reduce in the near term as vaccines for COVID-19 have been introduced in the market. This is further expected to lead to re-initiation of stainless steel plumbing pipes manufacturing companies at their full-scale capacities, which is expected to aid the market to recover by the start of 2022. After COVID-19 infection instances have started to decline, equipment and machinery producers must focus on protecting their staff, operations, and supply networks to respond to urgent emergencies and establish new methods of working.
By Application
Bathtubs segment is projected to grow at a significant CAGR
Rise in disposable income of population in developing nations, such as India, Brazil, Africa, and others, increases the spending on new construction and renovation activities, which drives the growth of the global stainless steel plumbing pipes market. For instance, disposable income of African population grew by 1.2% from January 2020 to December 2020. In addition, increase in construction of new malls and commercial spaces globally drives the global stainless steel plumbing pipes market growth. For instance, over 17 new IT parks are expected to be built in India from 2020 to 2022 in major cities such as Pune, Mumbai, Chennai, Bangalore, and Hyderabad. Moreover, rise in urbanization globally requires more toilets and sanitary places, which drives the growth of the stainless steel plumbing pipes market. For instance, in January 2020, Garv, a smart toilet manufacturing company, announced that it has installed 798 public toilets across India, which is expected to rise the demand for stainless steel plumbing pipes for plumbing applications, thereby boosting the growth of the stainless steel plumbing pipes market.
By Construction Type
Renovation segment generated the highest revenue.
However, decrease in new construction activities in developed nations and fluctuation in raw material prices are anticipated to restraint the growth of the global stainless steel plumbing pipes market. Contrarily, rise in infrastructural development in African nations is anticipated to provide lucrative opportunities for the growth of the stainless steel plumbing pipes market.
The global stainless steel plumbing pipes market is segmented into construction type, end user, application, and region. By construction type, the market is classified into new construction and renovation. The renovation segment dominated the market in 2020. Based on end user, the market is divided into residential and non-residential. The residential segment dominated the market in 2020. Based on application, the market is classified into bathtubs, showerheads, faucets, and others. The others segment dominated the market in 2020.
By End User
Residential segment holds dominant position in 2020
Region wise, it is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, the UK, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, South Korea, and the rest of Asia-Pacific), and LAMEA (Latin America, Middle East, and Africa). Asia-Pacific dominated the market in 2020.
Key players
Key companies profiled in the report include 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.
By Region
Asia-Pacific holds a dominant position in 2020.
Key Benefits For Stakeholders
The report provides an extensive analysis of the current and emerging global stainless steel plumbing pipes market trends and dynamics.
In-depth analysis of the market is conducted by global stainless steel plumbing pipes market estimations for the key market segments between 2020 and 2030.
- Extensive analysis of the market is conducted by following key product positioning and monitoring of the top competitors within the market framework.
- A comprehensive global stainless steel plumbing pipes market opportunity analysis of all the countries is also provided in the report.
- The global stainless steel plumbing pipes market forecast analysis from 2021 to 2030 is included in the report.
- The key players within the market are profiled in this report and their strategies are analyzed thoroughly, which help understand the competitive outlook of the stainless steel plumbing pipes industry.
Stainless Steel Plumbing Pipes Market Report Highlights
| Aspects | Details |
 By Construction Type |
|
 By End User |
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 By Application |
|
 By Region |
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 Key Market Players | Reliance Worldwide Corporation Limited, Steelmor Industries, Geberit AG, Central States Industrial, Turnkey Industrial Pipe & Supply Inc, Mueller Industries Inc, Bradley Corporation, Globe Union Industrial Corp., Jindal Stainless Limited, Uponor Corporation |
Analyst Review
In accordance with several interviews that were conducted of the top level CXOs, the global stainless steel plumbing pipes market has witnessed significant growth attributed to rise in new construction development and renovation activities in residential and commercial sectors globally.
Stainless steel plumbing pipes are used in various applications such as faucets, bathtubs, showerheads, kitchens, and toilets. Stainless steel pipes are largely used in sanitary and hygienic work. Plumbing pipes are used while repairing, renovating or newly constructing bathroom or toilets and kitchens. Therefore, activities such as repairing, renovation or new construction of residential and non-residential buildings are expected to boost the growth of the global stainless steel plumbing pipes market during the forecast period.
Key players in the global stainless steel plumbing pipes market include Central States Industrial, McWane, Inc., Morris Group (Acorn), Mueller Industries, Nupi Industrie Italiane S.p.A., Reliance Worldwide Corporation Ltd., Turnkey Industrial Pipe & Supply Inc., and Uponor Corporation.
Renovation activities in developed nations and new construction in developing countries are driving the stainless-steel plumbing pipes market. Manufacturers have launched new products with a view to offer a wide range of products to customers. This helps companies to expand customer base as well as improve their sales across different regions.
Furthermore, decrease in construction activities in developed nations and fluctuation in raw material prices restraint the growth of the stainless-steel plumbing pipes market. Contrarily, rise in construction activities in developing nations, such as India, Brazil, and others, provides lucrative opportunities for the growth of the global stainless steel plumbing pipes market.
The global stainless steel plumbing pipes market size was $4,924.2 million in 2020 and is projected to reach $8,170.7 million in 2030, growing at a CAGR of 4.8% from 2021 to 2030.
The forecast period considered for the global stainless steel plumbing pipes market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
The base year considered in the global stainless steel plumbing pipes market is 2020.
No, the report does not provide Value Chain Analysis for the global stainless steel plumbing pipes market. However, it provides market share analysis for the top players in the continuous basalt fiber market.
On the basis of application, the bathtubs are expected to be the most influencing segment growing in the global stainless steel plumbing pipes market report.
Based on the end user, in 2020, the residential segment generated the highest revenue, accounting for 62.8% of the market and is projected to grow at a CAGR of 5.2% from 2021 to 2030.
The report contains an exclusive company profile section, where leading 10 companies in the market are profiled. These profiles typically covers company overview, geographical presence, and market dominance (in terms of revenue and volume sales).
The market value of global stainless steel plumbing pipes market is $5,352.6 million in 2021.
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