WILMINGTON, DE / ACCESSWIRE / April 28, 2023 / Transparency Market Research Inc. - Surge in usage of pipe threading machines in commercial and industrial applications is anticipated to propel the global market. Rapid pace of adoption of energy-efficient and automatic equipment is likely to augment global pipe threading machine market size.
The Global Pipe Threading Machines Market was valued at US$ 25.9 Bn in 2022 and is projected to reach US$ 45.1 Bn by 2031. Flat Bed Lathe
Companies in the pipe threading machine industry are focusing on developing equipment that are easy and cost-efficient to maintain and repair. Increase in trend of usage of automation technology in pipe machining process is likely to bolster global pipe threading machine market growth. Aluminum pipe threading machines are gaining traction among end-use industries.
Surge in popularity of portable machines for small-scale applications is expected to fuel market development in the near future. Extensive demand for sturdy pipes in the oil & gas industry is likely to offer significant business opportunities to manufacturers of pipe threading machines.
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Rise in Adoption of Automatic Pipe Threading Machines: Based on operation, the automatic segment held dominant market share in 2022. The trend is anticipated to continue from 2022 to 2031. Rise in preference for automatic pipe machining technology is expected to bolster the segment. Automatic pipe threading machines are commonly used in pipes with string outlines, which find significant adoption in several end-use industries.
Surge in Utilization of Pipe Threading Machines in Construction Sector: Rise in demand for pipe threading machines in the installation of water and sewage systems is likely to augment market growth. Based on application, the construction segment is expected to account for dominant market share from 2022 to 2031. Rapid expansion of commercial and residential constructions in several countries is a key trend expected to propel demand for pipe threading machines in the construction sector in the near future.
Rise in demand for machines that improve productivity and enhance energy efficiency of pipe threading processes is a key driver of the pipe threading machine market. Rapid advancement in pipe threading technology, such as CNC technology, is expected to augment market value in the near future.
Rapid expansion of end-use industries, especially construction, oil & gas, chemical, and mining sectors, is likely to drive the pipe threading machine market. Rise in trend of adoption of portable pipe threading machines in these end-use industries is likely to spur the pipe threading machine industry.
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Asia Pacific is a lucrative market for pipe threading machine. Surge in adoption of pipe threading machines in the construction sector is projected to propel market expansion in the region. Rise in infrastructure development is anticipated to bolster market development in Asia Pacific. China, Japan, and India are expected to offer significant business opportunities to companies in the regional market in the near future. Recent market trends indicate rapid adoption of automatic and semi-automatic pipe threading machines among end-use industries.
The business landscape is fragmented. Large number of local and global players hold majority stake in the pipe threading machine market. Entry of local players in the market is likely to intensify the competition for incumbent companies.
Leading companies focus on launching affordable and energy-efficient pipe threading machines in order to increase market share. Prominent companies are investing significantly in R&D activities to launch innovative products.
Key players operating in the pipe threading machine market are
J&K Tool Company, Inc.,
Raptor Cutting Tools, Inc., and HONGLI Pipe Machinery Factory.
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Pipe Threading Machine Market Segmentation-
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