With expansion of manufacturing vertical as well as developments on the technological grounds, the demand for varied engineering pipe hangers and supports is increasing at a remarkable rate. Bigger plants like power generation plants, supplements for the nuclear power plants, and pipelines to transfer water need installation of support element. This factor is expected to do wonders for engineering pipe hanger and support market in the near future.
The developing economies are also witnessing curtailment in coal power plants and them being replaced by nuclear and hydel power plants. This factor will also call for engineering pipe hanger and support going forward. Plus, the current scenario is such that design customization is being spoken of almost everywhere. This is a novelty factor entering the engineering pipe hanger and support market.
Coming to restraints, there are some installers making mistake of placing hangers and supports at sizable distance from each other. This, in turn, leads to variable distribution of load to support as well as bending of pipes. These disasters could be avoided with experts being hired therein. Persistence Market Research has mentioned about these developments with future courses of action in its latest market study entitled “Engineering Pipe Hanger and Support Market”.
Engineering Pipe Hanger and Support Market Dynamics
The global engineering pipe hanger and support market, by type of product, spans variable spring hangers and supports, constant hangers and supports, rigid struts and snubbers, and support accessories (sway braces, connecting parts and elements, bearing and saddles, and likewise). Application-wise, it’s field survey and inspection, testing and maintenance, and installation and commissioning (Greenfield/new-built and retrofit).
By end-use, it’s power generation plants (nuclear and fossil fuels), oil and gas refineries, chemical and petrochemical plants, and fertilizer plants. Out of these, variable spring hangers and supports hold the largest market share. By application, field survey and inspection dominate the market. Persistence Market Research has mentioned about these courses of development with future course of action in its latest market study entitled “Engineering Pipe Hanger and Support Market”.
Region-wise Snapshot
North America and Europe hold a sizable share of the engineering pipe hanger and support market. However, the Asia-Pacific is expected to grow at the highest rate in the engineering pipe hanger and support market due to China being the major producer and supplier of these hangers and supports. India is another country expected to do great on this count. Persistence Market research has mentioned about these findings with subsequent measures in its latest market study entitled “Engineering Pipe Hanger and Support Market”.
The Competitive Landscape
Persistence Market Research has profiled the key players in engineering pipe hanger and support market as Bergen Pipe Supports, Piping Technology and Products, Inc., Rilco, Sany ACS (Anvil), Kinetic Energy (KEKSA), Carpenter and Peterson, Inc., National Pipe Hanger, Delta Machinee, PHS, and PHD Manufacturing. The players mentioned above are emphasizing on diversification of products along with providing customized solutions for the respective clients.
Both – organic and inorganic strategies are being worked on, inclusive of new product launch, innovation, strategic collaborations, joint ventures for consolidating and expanding the hold on regional markets. Supply chain’s optimization is also on the anvil.
Inference
The global engineering pipe hanger and support market is likely to grow on an indispensable note between 2021 and 2031 – Persistence Market Research
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