style="box-sizing: border-box; margin: 0px 0px 10px; color: rgb(51, 51, 51); font-family: "Helvetica Neue", Helvetica, Arial, sans-serif; font-size: 14px;"> More recently, pipe wrapping machines have been witnessing a surge in demand owing to growth in end-use industries, such as oil & gas, chemicals, etc. That apart, increase in demand for automated systems has unfolded new opportunities for the growth of the pipe wrapping machines market. Different types of pipes which are used in pipe wrapping machines are plastic pipes, PVC pipes, copper pipes, steel pipes, etc. Among these, steel pipes are generally coated with insulation materials to protect them from getting rust.
The market for pipe wrapping machines can be segmented on the basis of technology, pipe type and end-use industry.
Increased in demand of Automatic Pipe Wrapping Machines
Automatic Pipe wrapping machines are anticipated to gain traction in the coming decade owing to the fact that hand held pipe wrapping machines, also known as manual pipe wrapping machines, are designed for wrapping tape with constant tension and overlaps. This, in turn, will increase the demand of skilled work force, alongside increasing material costs.
Moreover, with increasing demand for automated systems in end-use industries, the desire for innovative product solutions is expected to remain strong during the forecast period. Also, automatic pipe wrapping machines offer several advantages over manual pipe wrapping machines. For instance, these machines help in saving production cost and labor cost as well as reducing industrial accidents and labor tension.
Technology Advancement to emerge as a Major Trend
A major trend anticipated five years down the line involves market leaders focusing on technological advancements by spending extensively on research and development activities as the market of pipe wrapping machines is highly fragmented owing to the presence of several small players. The manufacturers are offering products and services according to consumer needs and are escalating the competition.
Moreover, the demand for pipe wrapping machines is anticipated to grow significantly during the forecast period. Ever growing end-use industries, both in developing and developed economies, are the prime reason behind market growth. Further, the growing trend of automation is expected to supplement market growth.
Regional Market Outlook
The global pipe wrapping machines market is segmented into the following regions -- North America, Latin America, Western Europe, Eastern Europe, South East Asia-Pacific, China, Japan, India and the Middle East and Africa. The regional demand dynamics can be directly correlated with the demand from end-use industries. Asia Pacific, followed by North America, is anticipated to dominate, in terms of sales, and is expected to remain dominant in terms of demand for pipe wrapping machines from end-use industries. Europe is expected to witness high penetration rates owing to rapid industrialization. Latin America is expected to grow with significant CAGR during the forecast period. Middle East & Africa is anticipated to grow at a significant pace over the forecast period owing to growth in oil & gas industries in the region.
Global Pipe Wrapping Machines Market: Key Players
Opportunities for Market Participants
As the market for pipe wrapping machine is fragmented with several small players, the manufacturers in the market are focusing on expanding their market presence across the globe through expansions. Moreover, manufacturers are also focused on research and development activities to develop new and innovative products to meet consumer needs.
Brief Approach to Research
FMI will follow a triangulation methodology to estimate data covered in this report. A detailed market understanding and assessment of the nature, technology and pipe type of the product segments covered in the study are followed by a demand-side analysis to estimate the sales of target product segments, which is then cross-referenced with a supply-side assessment of value generated over a pre-defined period. The statistics and data are collected at a regional level and consolidated and synthesized at a global level to estimate the overall market sizes.
Key Data Points Covered in the Report
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, application, and industry.
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of Future Market Insights.