PUBLISHER: The Insight Partners | PRODUCT CODE: 1463859
PUBLISHER: The Insight Partners | PRODUCT CODE: 1463859
The pipe relining market size was valued at US$ 8,499.51 million in 2022 and is projected to reach US$ 12,761.26 million by 2030; it is expected to register a CAGR of 5.2% during 2022-2030.
The global pipe relining market broadly constitutes three major stakeholders, namely equipment or material suppliers, pipe relining service providers, and end users. The raw material and equipment suppliers are offering pipe relining services to the water treatment plants, oil and gas companies. The service providers offer a wide range of standard as well as niche pipe relining services for their end users. The end users mainly include government water treatment plants, oil & gas companies, municipalities, and residential users. The government authorities are offering renovation funding for improving existing pipelines related to water, water treatment, sewage lines, and oil and gas. Such an increase in funding is expected to drive the pipe relining market during the forecast period.
Aging Infrastructure of Developed Economies Demand Sewage Restoration is Driving the Market Growth
Several developed economies across the globe are facing major challenges owing to their aging water infrastructure. Cities are further witnessing continuous growth and urbanization, resulting in a burgeoning need for the restoration of pipeline systems. Several European cities are among the oldest in the world. Thus, there is a growing concern about the aging infrastructure, unreachable water systems, and smaller pipelines.
The condition of underground water infrastructure, sewage maintenance, and clean water supply are some of the key areas in a European infrastructure that are most financially neglected. The cities and municipalities are at major risk, and there is a need to find an immediate and cost-effective solution. Moreover, as per the Infrastructure Australia report, the country's water and sewage expenses may double by 2040. The aging infrastructure of the country is resulting in additional expenditure for its maintenance. The report estimated that the number of properties supplying water and sewerage might increase by around 3 million during the next 20 years.
In December 2021, the US Environmental Protection Agency (EPA) and the City of Fall River signed an agreement on a five-year plan to reduce and treat combined sewer discharges by fixing the wastewater infrastructure. In addition, in May 2020, Upper Arlington, a city in Ohio, US, awarded Performance Pipelining Inc. a US$ 1 million project to fix pipelines of untreated sewage. The majority of the project involved the installation of linings in existing public and private sanitary sewers across the city. Also, in August 2020, the government of Chennai state in India approved the restoration of Chennai's waterways project. For the first phase of this project, the government has sanctioned ~US$ 136 million.
In North America, the US and Canada are experiencing issues related to their aging infrastructure. Most of the sanitation infrastructure of the US was constructed in the 19th century. Also, it is estimated that ~1.2 million miles of main water pipes in the country and ~240,000 water main breaks every year, on average. Also, ~46% of New York's water pipes were built prior to 1941, and ~1,000 miles are more than 100 years old. Further, even Canada is investing in its aging sewerage infrastructure. For instance, the City of Toronto allocated US$ 350 million for water projects in 2018. This also includes major projects for the improvement of aging sewers and water mains in Toronto.
Owing to the aging infrastructure of developed economies, countries are anticipated to invest in trenchless technology. Pipe relining is an affordable, safe, cost-efficient way to reduce public disturbances during the completion of a task; it is thus a viable option for restoring pipelines.
The pipe relining market forecast is estimated on the basis of various secondary and primary research findings such as key company publications, association data, and databases. The pipe relining market report emphasizes the key factors driving the market and depicts the developments of prominent players. Velan Inc, Alfa Laval Solution, Flowserve Corporation, Emerson Electric Co, Dutch Valve Vision, Valco Group, American AVK Co, Kitz Corporation, Spirax Sarco Engineering Plc, and DeZURIK Inc are among the key players covered in the pipe relining market report. The report includes growth prospects in light of current pipe relining market trends and driving factors influencing the market.