Transparency Market Research has published a new report that talks aboutthe overall working dynamics of the global copper pipes and tubes market.According to the research report, the global copper pipes tubes market is expected to grow at amodest CAGR of 3% for the given projection period of 2019 to 2027. With thisrate of growth, the global market is expected to reach an overall valuation ofUS$39 bn by the end of the forecast period in 2027. Previously, the market wasvalued at US$29.7102 bn in the year 2018.
Growing Demand for Energy Conserving Pipes andTubes to Drive Market Growth
There are several factors that are influencing the growth of the globalcopper and pipes tubes market. One of the key driving factors for market growthhas been the increasing demand for heat-exchange equipment that are highlythermally-effective. Moreover, there has been a growing awareness about theconcerns regarding excessive energy consumption. Because of the strictenvironmental conservation regulations, manufacturers are increasinglypreferring copper and pipes tubes. This has thus been working in favor of thedevelopment of the global market. In addition to this, governmental authoritiestoo have been issuing favorable policies and lucrative tax rebates to encouragethe installation of energy saving products and equipment. Copper pipes andtubes are increasingly used in the production of these equipment and thus theirgrowing demand directly corresponds to the growth of the global market.
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Infrastructural Development in Asia Pacific isFueling Market Growth in Region
In terms of geographical segmentation, the Asia Pacific segment isexpected to emerge as the strongest contributor for the overall development ofthe global copper pipes and tubes market. Other regional segments such as LatinAmerica, North America, Middle East and Africa, and Europe are also projectedto experience a moderate growth in the coming years of the forecast period.
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One of the leading causes behind the growth of the Asia Pacific marketfor copper pipes and tubes is the increasing infrastructural developmentshappening across emerging economies such as India and China. China, inparticular is one of the biggest consumers of the copper pipes and tubesmarket. Moreover, the country is also a home for several of the leading brandsoperating in the copper pipes and tubes market.
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Some of the prominent names in the global copper pipes and tubes marketare Furukawa Electric Co. Ltd., Aurubis AG, Mueller Industries Inc.,EvalHalcor, and Brass and Copper Holdings Inc. among others.
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