October 28, 2020
According to the research report titled ‘Global Double Walled Corrugated Hide Pipe Market Size study with COVID-19 Impact, by Type (Small Caliber, large Caliber) Application (Architectural Engineering, Industrial Field, Agricultural Garden Project, Others) and Regional Forecasts 2020-2026‘, available with Market Study Report, global double walled corrugated hide pipe market is expected to witness exponential growth during 2020-2026.
Increase in construction and infrastructural projects, alongside consequent surge in demand for fiber electric cable network and underground drainage systems is a major factor impelling global double walled corrugated hide pipe industry growth.
Moreover, several beneficial properties of double walled corrugated hide pipes such as longevity, corrosion resistance, and limited wear & tear will also to contribute to the industry growth. These pipes act as an alternative to metal and concrete pipes that have major applications in sewage systems, oil & gas supply, water pipelines and other construction projects, thereby influencing the worldwide double walled corrugated hide pipe market outlook.
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Double walled corrugated hide pipe are two layered pipes with outer corrugated and inner smooth walls that provide tremendous strength, durability while maintaining light weight. Increasing product applications, surge in oil production, and need for efficient ways to transport oil are poised to fuel global double walled corrugated hide pipe market expansion.
As per Statista, about 4 billion metric tons of oil is produced globally every year, and Middle East region contributes to one-third of it. Hence, expansion and identification of new fields and the initiatives taken to amplify the production have prompted oil transportation needs, which is benefiting global double walled corrugated hide pipe industry trends.
Based on application spectrum, worldwide double walled corrugated hide pipe market is segmented into agricultural garden project, architectural engineering, industrial field, and others. With regards to type, the industry is bifurcated into small caliber, and large caliber.
As per regional analysis, North America double walled corrugated hide pipe market amassed modest revenues in the recent past, mainly due to increasing consumer awareness and well-established infrastructure in the region. Meanwhile, Asia Pacific industry is anticipated to witness highest growth rate over 2020-2026, owing to rapid urbanization and rising smart city projects in the region.