Pipeline Expansion Joints Market to Garner $2.56 Billion by 2032: The Brainy Insights
The expansion of the petrochemical industry and the rise in demand for pipeline expansion joint products in various applications are the primary drivers of market growth. North America emerged as the largest market for the global pipeline expansion joints market, with a 40.45% market revenue share in 2022. Due to the rise in industrial firms in the region, the market is growing.
Newark, March 28, 2023 (GLOBE NEWSWIRE) -- The Brainy Insights estimates that the USD 1.50 billion pipeline expansion joints market will reach USD 2.56 billion by 2032. Expansion bellows or Compensators is another name for expansion joints used for relative motion and thermal expansion in containers, pipes, and machines. Expansion joints are made up of steel, rubber, and aluminium. In addition, fasteners are used to connect expansion joints. Metal compensators are distinguished by three primary forms of motion: angular, axial, and lateral. Angular joints are made of complex pipes, whereas Axial expansion joints are used when the movement is straight or coaxial. The main aim of a metal compensator is to maintain the connection & power between mechanical equipment & heat pipes. As the metal compensator is flexible, it can compensate for the temperature deformation between the pipeline and equipment. This aid in reducing the pipeline thrust, preventing vibrations, and conforming to the unequal settlement of the oil tank. Furthermore, metal compensators are excessively utilised in industries like electric power, chemical industry, metallurgy, instrument, light industry, aerospace, and many more. Due to its growing application, it is now also used in the civil field. Metal compensators compensate for the displacement of mechanical equipment or long pipeline system software caused by temperature differences via angle change or axial expansion form and eliminate mechanical equipment vibration while parking, driving, or operating under all normal operating conditions. Metal compensators can efficiently reduce pipeline deformation and increase pipeline system service life. The metal compensator can be produced into several models depending on the requirements.
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North America to account for the largest market size during the forecast period.
North America is expected to have an essential pipeline expansion joint market share. In the region, there are significant market participants, such as KOMPA-FLEX. Furthermore, It is also expected that demand for products with unique designs will increase, which directly raises the need for pipeline expansion joints.
Lateral expansion joints dominated the market with the most significant market revenue of USD 0.56 billion.
Lateral expansion joints dominated the market with the most significant market revenue of USD 0.56 billion. Lateral expansion joints absorb seismic movement and vibration. Although such joints might be of varying sizes and shapes, they all serve the same purpose: to stop horizontal motion between pipes. Such reasons are facilitating the expansion of this segment.
Power generation industry accounted for the largest share of the market, with market revenue of USD 0.62 billion.
Power generation industry accounted for the largest share of the market, with market revenue of USD 0.62 billion. Pipeline expansion joints connect equipment, pipes, and other components in the power generation sector. A power plant's operating efficiency is increased since it can tolerate any motion induced by two elements, allowing the manufacturing plant to operate without causing damage to its components. These qualities fuel this segment's demand.
Drivers: Rising Usage of Pipeline Expansion Joints
Pipeline Expansion Joints reduce strains in pipe systems caused by thermal expansion and pipe loads at connections to sensitive equipment like pumps and steam turbines. Furthermore, they are used by various industries such as chemical industry, petrochemical, aerospace, metallurgy and many more. All these reasons are driving the market.
Restraint: Maintenance Costs
As the demand for pipeline expansion joints rises, maintenance costs also increases. This is restraining the market as only some market players can afford it. Furthermore, due to the rising manufacturing costs of pipeline expansion joints the market is facing problems.
Opportunity: Rise in Oil & Gas Pipeline
Pipeline expansion joints are commonly employed in oil and gas pipelines to prevent vibrations or movements induced by machinery, thermal movement, or any other movement in the line. Movements may be axial, angular, or lateral, necessitating expansions at rubber or metal joints.
Challenge: Accident Issues
Due to the rising number of pipeline accidents, the market growth is facing severe challenges. Furthermore, as industries are becoming more aware of all issues concerning pipeline expansion, the use of the products is expected to decline during the forecast. Thus, this reason is expected to challenge the market's growth.
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Some of the major players operating in the pipeline expansion joints market are:
● BIKAR-METALLE GmbH
● Triad Bellows
● Senior Flexonics
● American BOA
● Witzenmann GmbH
● Gongyi Runda Pipeline
● U.S. Bellows
● Beijing Hangtian Taizhou Bellow
● Shandong Hnegtong Expansion Joint Manufacturing
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Key Segments cover in the market:
● Axial Expansion Joints
● Angular Expansion Joints
● Lateral Expansion Joints
● Universal Expansion Joints
● Petrochemical Industry
● Heavy Industry
● Power Generation Industry
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About the report:
The global pipeline expansion joints market is analyzed based on value (USD billion). All the segments have been analyzed on a worldwide, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report offers an in-depth analysis of driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company that provides actionable insights through data analytics to companies to improve their business acumen. They have a robust forecasting and estimation model to meet the client's objectives of high-quality output within a short period. They provide both customized (client-specific) and syndicate reports. Their repository of syndicate reports is diverse across all the categories and sub-categories across domains. Their customized solutions meet the client's requirements whether they are looking to expand or planning to launch a new product in the global market.
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