Why are Variable Spring Hangers and Supports a Better Choice? Use in fertilizer plants is more in the country since agriculture usage of fertilizers is high.
In India, use of engineering pipe hangers and supports is seen in many end-use sectors, including power generation plants, oil and gas refineries, chemical and petrochemical plants, and fertilizer plants. India alone holds around 29.6% share in the South Asia Pacific market. What Will be the Strategy of Key Players in the Indian Market? China also leads the market because of high regional demand from power plants and oil refineries. The country is all set to be in the driver’s seat for engineering pipe hangers and supports in the region.Īvailability of cheap labor gives China an enormous advantage among other players in the market in East Asia. Why is China One of the Leading Markets in East Asia?Īround 47% of the market share in East Asia is held by China. There has been exponential growth in the energy sector globally, and also in the North American region, as new technology for renewable energy sources are growing faster, which will have around 15% share in overall energy sector of North America.įrom an end-use perspective, the market is seeing high growth in power generation plants and oil & gas refineries.
In line with the previous strategy, key players are continuously searching for ways to provide higher quality products at lower costs, and stable supply for long durations, which will help them to operate in the engineering pipe hanger and support industry smoothly. Market for Engineering Pipe Hangers and Supports Faring?Īround 53% share of the North America market has been acquired by the United States. In total, East Asia is responsible for 27.8% market share on a global level. With an absolute dollar opportunity of around US$ 36.0 Mn, East Asia is expected to be the most lucrative market for engineering pipe hanger and support manufacturers.Ĭhina, Japan, South Korea, and other smaller East Asian countries lead the East Asian market, and are expected to experience significantly higher growth over 2021-2031. With increase in production and technological developments in the field of engineering pipe hangers and supports, more research & development is going on to make these product more stable and load-resistant.ĭemand for variable spring hangers and supports and constant hangers and supports are set to be high in the market due to their need for any kind of support element installation in bigger plants such as power generation plants, pipelines for transferring water, and other supplements for nuclear power plants.Īsk An Expert What Region Provides the Largest Opportunity to Sell Engineering Pipe Hangers and Supports? Prices of engineering pipe hangers and supports and their accessories are considered on various factors other than product type, as there is more to be considered, such as as the support element and hanger element used for supporting the load of pipelines. Sales Analysis of Engineering Pipe Hangers and Supports from 2016 to 2020 Vs Market Projections for 2021 to 2031.įrom 2016 to 2020, use of engineering pipe hangers and supports increased at around 1.5% CAGR, with the U.S., ASEAN, China, India, Japan, and South Korea holding significant shares in the global market.
0 kommentar(er)
