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Research Reports

Engineering Pipe Hanger and Support Market Estimates The To Expand At Around 4.8% CAGR from 2021 to 2031

Global engineering pipe hanger and support sales are set to be valued at US$ 348 Mn in 2021, with balanced long-term projections, according to latest insights by Persistence Market Research. The report estimates the market to expand at around 4.8% CAGR from 2021 to 2031.

Demand from midstream and downstream process in oil & gas refineries are expected to play a pivotal role in the utilization of this equipment. CAPEX investments in thermal and nuclear power generation, petrochemicals, and fertilizer plants are also projected to complement market growth over the coming years.


Due to the COVID-19 pandemic, the market is understood to have witnessed a plunge of nearly 2% in FY2020, but is expected to recover sharply over the next 3 quarters. Production activities as well as new investment projects for almost all end-use industries were stalled, thus affecting market expansion. Subsequent growth in the next fiscal is however projected to witness a V-shape recovery rate as economic activity goes back to pre-crisis levels.



Key Takeaways from Market Study

“Increasing demand from ongoing and forthcoming projects for expansion and new building of pipelines in end-use industries will ascend demand for engineering pipe hangers and supports,” says a Persistence Market Research analyst.


Competitive Landscape

The market is observed to be primarily dominated by tier-1 players with a revenue share around 60% in the global market. These players are likely to invest in new technology developments and the expansion of their networks in order to maintain their market shares.

Some of the key players in this industry are as Piping Technology and Products Inc., Rilco, Bergen Pipe Support, National Pipe Hanger, Lisega SE, and PHD Manufacturing.

Read More Trending “PMR Exclusive Article”-–gas-sector-to-play-pivotal-role-holding-a-revenue-share-of-55-in-engineering-pipe-hanger-and-support-market-301407392.html

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