The global tapping sleeves market is projected to reach USD 3.09 billion by 2028, at a CAGR of 7.21% from 2021 to 2028. Tapping sleeves are used to join two pipes of different diameters or to join a pipe to a fitting or valve. They are also used to make a seal between the pipes and can be used to make taps and branches.
The global tapping sleeves market is expected to witness rapid growth due to increasing demand from the oil & gas, power, and water & wastewater industries. The need for tapping sleeves is driven by the growing demand for efficient and reliable piping systems for these industries. Moreover, the increasing adoption of tapping sleeves for retrofitting activities is expected to drive market growth. Additionally, the development of innovative products such as coatings, insulation, and insulation products is expected to fuel demand for tapping sleeves shortly.
The growth of the global tapping sleeves market is also driven by the increasing focus on infrastructure development. The rising demand for tapping sleeves in the construction and industrial sector is expected to support market growth. The growing demand for tapping sleeves in the energy sector is expected to provide further impetus to the market over the forecast period.
The market is segmented by type, application, and region. By type, the market is divided into male tapping sleeves, female tapping sleeves, and others. By application, the market is classified into oil & gas, power, water & wastewater, construction, and industrial.
The market is expected to be driven by the North American region, owing to the increasing investments in the infrastructure and energy sectors in the region. The growth of the market in the region is also supported by the increasing demand from the oil & gas and power industries. The rising demand for tapping sleeves in the region is expected to drive the market’s growth over the forecast period.
The major players in the global tapping sleeves market are Enerpac (U.S.), Mueller Industries Inc. (U.S.), United States Pipe and Foundry Co. (U.S.), McWane Inc. (U.S.), Victaulic Company (U.S.), Smith-Blair, Inc. (U.S.), Anvil International (U.S.), Reliable Fitting & Supply Corp. (U.S.) and B&B Pipe and Industrial Tools (U.S.).
These players are focusing on expanding their presence in the global tapping sleeves market through strategic initiatives such as mergers & acquisitions, collaborations, and product launches. They are also involved in product innovation and development to gain a competitive edge in the market.
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