PUBLISHER: Grand View Research | PRODUCT CODE: 1301295
PUBLISHER: Grand View Research | PRODUCT CODE: 1301295
The India process piping market size is expected to reach USD 481.03 million by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 6.1% from 2023 to 2030. The demand for process piping is mainly driven by rapid urbanization and increasing government investments in infrastructural growth including the installation of pipes for efficient water distribution systems.
The increasing industrial activities in the country are anticipated to drive the demand for process piping systems. The government of India is heavily investing in infrastructure and industrial projects, which need efficient and reliable piping systems. The oil & gas industry is the major consumer of process piping systems that are used in exploration, production, and refining applications. In addition, oil & gas production and transportation facilities require extensive piping networks for the proper transportation of oil and gas. The oil & gas industry is influenced by global energy demand, technological advancements, and fluctuating oil prices, which, in turn, is expected to drive the growth of the Indian market for process piping.
Fluctuating raw material prices are expected to hamper the overall market growth over the forecast period. The cost of raw materials utilized in process piping systems, such as copper, plastic, and steel, is volatile, which can affect the overall cost of manufacturing. The aforementioned factors are expected to hinder the growth of the process piping market in the coming years.
Process piping systems are also used in FMCG manufacturing facilities for the distribution of steam, compressed air, water, and other necessary utilities for various operations like sterilization, cleaning, and packaging. The major application of the process in piping systems in FMCG manufacturing facilities is to maintain optimal temperatures in production areas. Process piping is not involved in the direct manufacturing of FMCG products but it plays a major role in maintaining optimal work conditions and regulatory compliance. Thus, the growth of chemical and FMCG industries is one of the major factors driving the demand for India process piping over the forecast period.