WILMINGTON, DE / ACCESSWIRE / September 8, 2022 / Transparency Market Research Inc. - Substantial commercialization of HVAC and refrigeration systems has spurred sales of copper pipes and tubes. The HVAC and refrigeration segment is found to be largest revenue generator in copper pipes & tubes market in 2021. Rise in architectural applications of copper pipes and tubes has bene propelled revenue generation in the segment. The overall copper pipes & tubes market stood at US$ 32.1 Bn in 2021.
The demand for high strength and corrosion resistant pipes is growing in the manufacture of body of electric vehicles and heat exchangers. Adoption of high-performance heat exchange equipment in industrial applications is offering vast profitable avenue for market players to capitalize on, as recent developments in copper pipes & tubes market indicated.
Stridently, the expansion of heat exchange equipment market is proportionately driving lucrative opportunities in the copper pipes & tubes market. Of note, the uptake of the equipment has been high in oil & gas, marine, and aviation, and will shape the future market demand for copper pipes & tubes market
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Key Findings of Copper Pipes & Tubes Market Study
- Widespread Use in HVAC & Refrigeration Systems to Steer Sizable Revenue Streams: Strides made in HVAC and refrigeration technology has propelled the demand for these in commercial applications. Rise in spending capacity coupled with the rapid pace of urbanization is a key pivot for the commercialization of HVAC equipment. The segment held a share of around 50% in 2021. The opportunities in the segment are expected to grow rapidly in the next few years. Rising utilization of copper tubes in heat exchange equipment will boost the profit streams in global copper pipes & tubes market.
- Demand for Corrosion Resistant and High Strength Products in End-use Industries Expanding Avenues: Need for high-performance copper pipes & tubes has extended the revenue potential for producers and pipe suppliers in the market. This is particularly required in condenser tubes and the pipes that recirculate steam systems. Of note, copper nickel tubes have gathered traction for this application.
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Copper Pipes & Tubes Market: Key Drivers
- Massive use of copper pipes and tubes in household plumbing applications especially in developed regions has generated steady revenue streams. Adoption of noncorrosive copper pipes has boosted the market prospects.
- A steadily expanding HVAC and refrigeration industry over the past few years has driven the demand in global copper pipes & tubes market
- Rise in utilization of products in thermally efficient heat exchange equipment is a key driver for revenue streams, especially emanating from industrial applications
Copper Pipes & Tubes Market: Regional Growth Dynamics
- Asia Pacific held a major market share in 2021. The study projects that the region will retain its lead in global market during 2022-2031, due to rising demand for these in construction and automotive industries.
- North America is expected to witness several lucrative opportunities, propelled by the commercialization of heat exchange system. A bulk of demand for products is likely to come from the HVAC and refrigeration industry in the U.S.
- The Middle East & Africa is also a lucrative region in copper pipes & tubes market. The prospects are invigorated by rise in demand for products in construction industry, spurred by rise in infrastructure development projects.
Copper Pipes & Tubes Market Competition Landscape
Some of the key players in the copper pipes & tubes market are Aurubis AG, Mueller Industries, H & H Tube, MM Kembla, Wieland Group, Small Tube Products, and Aurubis AG.
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Copper Pipes & Tubes Market Segmentation
Application
- HVAC & Refrigeration
- Industrial Heat Exchange Equipment
- Plumbing
- Others
Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa
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