DIN 2353 Tube Fittings Market Size, Share, Growth, and Industry Analysis, By Type (Stainless Steel Tube Fittings, Carbon Steel Tube Fittings, Brass Tube Fittings), By Application (Industrial Application, Engineering Machinery, Shipbuilding & Railway, Energy and Power, Others) and Regional Forecast To 2031

Updated On: 22 April 2024

DIN 2353 Tube Fittings Market REPORT OVERVIEW

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The global DIN 2353 tube fittings market size was 420.7 million in 2022 & the DIN 2353 tube fittings market is expected to reach USD 614 million by 2031, exhibiting a CAGR of 4.3% during the forecast period.

The COVID-19 pandemic has been unprecedented and staggering, DIN 2353 tube fittings experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

DIN 2353 tube fittings tend to be typically used in the hydraulic and pneumatic usages in industrial, oil and gas, and construction equipment. Metric O.D. diameters range from 4mm to 42mm, with carbon steel as well as stainless steel being the most commonly used materials in industrial applications.

Furthermore, technical developments and enhancements within fittings are driving market growth. Manufacturers continually invest in R&D to improve the performance and utility of these fittings. The growing popularity of tube fittings in a variety of industries is due to advancements such as improved sealing structures, superior materials, and ease of installation.

COVID-19 Impact: Interruption in Services to Deplete Market Growth

The pandemic had a significant impact on the consumer's daily routine as well as the profession of market manufacturers. Following significant losses, order books are gradually filling up again, and the "new normal" is taking hold. Travel for business is still declining, and digitization is spreading rapidly. Numerous restrictions on travel, border closures, and the resulting distribution bottlenecks, as well as rises in raw material prices, have driven the economy to reevaluate and innovate. It is expected that in the coming years the market will uplift.

LATEST TRENDS

"Rising Industrial Sectors to Stimulate Market Development  "

Rising industrial sectors, particularly in the producing goods, oil, gas, and motor vehicle sectors, are one of the primary forces driving the market. These industries rely heavily on pneumatic and hydraulic systems for efficient operation and administration. The equipment enable superior performance and dependability in these systems, ensuring leak-free couplings even at high pressures. The need of tube fittings grows as these sectors expand to satisfy their operational needs. Therefore, the DIN 2353 tube fittings market growth will uplift in the coming years.

DIN 2353 Tube Fittings Market SEGMENTATION

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• By Type

Based on type; the market is divided into stainless steel tube fittings, carbon steel tube fittings, brass tube fittings

Stainless steel tube fittings is the leading part of the type segment.

• By Application

Based on the application; the market is divided into industrial application, engineering machinery, shipbuilding machinery, energy and power, others  

Industrial application is the leading part of the application segment.

DRIVING FACTORS

"Rising Emphasis Along with Security in Industrial Applications to Aid Market Expansion"

Furthermore, the rising emphasis on economy along with security in industrial applications is driving the adoption of DIN 2353 tube fittings. Temperature and high pressure are only two instances of the difficult conditions for operation that these connections are designed to withstand while maintaining the gas or liquid flow's integrity. By using DIN 2353 tube fittings, industries may ensure the safety of their employees and equipment, as well as minimize system downtime and increase overall efficiency.

"Environmental Sustainability to Foster Industry Progress  "

Another factor driving DIN 2353 tube fittings market growth is a growing appreciation of the importance of environmental sustainability. DIN 2353 tube fittings offer a dependable and environmentally friendly solution by reducing the likelihood of leakage and limiting fluid or gas loss. The DIN 2353 tube fittings market share will likely expand significantly due to the development of new technologies.

RESTRAINING FACTORS

"Cost of Manufacturing the Finished Product to Limit the Market Evolution "

However, various constraints are limiting the worldwide market growth. The cost of manufacturing the finished product is expensive, which will either cause market setbacks or growth. Furthermore, the availability of various low-cost alternatives is projected to stifle the market expansion.

DIN 2353 Tube Fittings Market REGIONAL INSIGHTS

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"Prevalence of Major Market Players in North America to Support Market Advancement "

The worldwide industry has been separated into four regions: North America, Asia Pacific, Europe, and the Rest of the World. North America will control the majority of the market share. The growing popularity in DIN 2353 tube fittings in a variety of industries is due to advancements such as improved sealing processes, superior materials, and ease of installation. Moreover, the prevalence of major market players in the region will boost up the market in the coming years.

KEY INDUSTRY PLAYERS

"Key Players Focus on Partnerships to Gain a Competitive Advantage"

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• Hy-Lok (South Korea)
• VOSS (U.S.)
• STAUFF (LUKAD Holding) (U.S.)
• Volz (Germany)
• CAST S.p.A. (Italy)
• Alfagomma (Italy)
• Parker Hannifin (U.S.)
• Eaton (Ireland)
• DK-LOK (U.S.)
• Gates EMB (Dubai)
• Superlok (BMT) (South Korea)
• Interpump Group (Italy)
• EXMAR (SERTO) (Switzerland)
• Manuli Hydraulics (U.K.)
• Schwer Fittings (Germany)
• Blanke Armaturen (U.S.)
• Leku-Ona (Spain)
• Rastelli Raccordi (Italy)
• Eurofit (U.K.)
• CONEXA GmbH (Germany)
• Armaturen-Arndt (Germany)
• Sekwang Hi-Tech (South Korea)
• HSME Corporation (South Korea)
• Hansun Engineering (South Korea)
• SHINILACE (U.S.)
• PH Industrie-Hydraulik (Germany)
• Cangzhou QC Hydraulics (China)

REPORT COVERAGE

This research offers a thorough analysis of the global market, covering all relevant areas. This includes everything from a broad market overview to micro-level information about size of the market, degree of competition, evolution trend, opportunities in the market, important market drivers, and SWOT opportunities and threats. The reader can use the study to influence industry competitiveness and competitive environment strategies to increase potential profit. Additionally, it offers a straightforward framework for assessing and gaining access to the situation of the corporate organization.

In a nutshell, this study should be read by all market participants, traders, academics, analysts, business planners, and anyone else with an interest in the market. The market competitive landscape is another area that the report structure focuses on. This report presents in depth information the share of the market, macroeconomic indicators, product scenario, operation circumstances of the major players, which aids readers in the industry in recognizing the key rivals and better understanding the market's competitive landscape.