National – According to a new market report published by Lucintel, the future of the global concrete pipe market looks good with opportunities in the sewage, drainage, potable water, and irrigation sectors.
The global concrete pipe market is expected to reach an estimated $23.7 billion by 2023 with a CAGR of 2.5% from 2018 to 2023. The major growth drivers for this market are residential and non-residential construction activities and the replacement of aging pipelines.
In this market, pre-stressed concrete cylinder pipes, pre-stressed reinforced concrete pipes, reinforced concrete pipes, bar-wrapped concrete pipes, and others are used for concrete pipe manufacturing for product.
Lucintel forecasts that reinforced concrete pipe is expected to remain the largest segment and also witness the highest growth over the forecast period due to its high strength, low cost, and durability.
Within the global concrete pipe market, sewage will remain the largest application and witness the highest growth during the forecast period due to continued infrastructural spending across the globe.
Asia Pacific is expected to remain the largest region and witness the highest growth over the forecast period supported by increasing infrastructure development and construction activities.