Pipe Hangers & Supports Market Size, Share, Growth, and Industry Analysis by Type (Pipe Hangers and Pipe Supports) By Application (Industrial, Commercial, Residential, and Others), Regional Insights, and Forecast To 2031

Updated On: 01 April 2024

Pipe Hangers and Supports Market REPORT OVERVIEW

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The global pipe hangers & supports market size was USD 1537 million in 2022 and market is projected to touch USD 2264.52 million by 2031, exhibiting a Compound annual growth rate (CAGR) of 4.4% during the forecast period.

Pipe supports are another name for pipe hangers. It is a device that supports pipes that are suspended from a slab, ceiling, beam, or any other structural component. Industrial users consider these to be the best option for transferring loads from pipes. A pipe's load is transferred from the pipe to the supporting structures by a designed device called pipe hangers and supports. The weight of the pipe itself, the substance it transports, each pipe fitting that is connected to a pipe, and any insulation used to cover the pipe are all included in the load. An anchor, a guide, a shock absorber, and a load supporter are the four primary purposes of pipe support. Insulation materials may be present in pipe hangers and supports used in applications involving high or low temperatures.

The operating and loading conditions affect how a pipe support assembly is designed overall. Prices of engineering pipe hangers and supports and accessories are determined by a variety of criteria in addition to the product type since there are additional aspects to take into account, such as the support element and hanger element used to sustain the load of pipes. More research and development are being done to improve the stability and load resistance of these products as a result of an increase in production and technological advancements in the field of engineering pipe hangers and supports.

COVID-19 Impact: Halt on Manufacturing Operations to Slower Market Growth  "                   "

Manufacturers of building materials have faced numerous obstacles as a result of the COVID-19 outbreak, which has also significantly disrupted the worldwide economy. Construction equipment tire demand is declining, and manufacturers have temporarily closed their production facilities. The interruption in the supply chain has also hindered the flow of commodities from one location to another. The competitors in the worldwide pipe hangers & supports market are being negatively impacted by this exponential influence on supply and demand. Shortly, the COVID-19 outbreak may further result in sluggish growth in the global pipe hangers & supports market by endangering supply networks around the world.

LATEST TRENDS

"Installation in Larger Power Plants to Boost Market Growth"

Due to their requirement for installation in larger plants such as power generation facilities, water transfer pipelines, and other supplements for nuclear power plants, variable spring hangers, and supports as well as constant pipe hangers & supports are expected to see strong market demand. According to the U.S. EIA, investments are rising in several pipe hangers & supports market end-use sectors, where important end-uses including power generation facilities will be constructed with zero carbon emissions. Huge investments are being made in replacing old coal power facilities with new nuclear and other units.

Pipe Hangers and Supports Market Segmentation

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• By Type Analysis

As per the type, the market is classified as follows: Pipe Hangers and Pipe Supports. Pipe hangers are the dominant segment in the pipe hangers & supports market share.

• By Application Analysis

Based on application, the market is segmented as follows: Industrial, Commercial, Residential, and Others. The industrial segment leads the pipe hangers & supports market share.

DRIVING FACTORS

"Demand for Pipe Hangers & Supports to Facilitate Market Development"

The need for infrastructure services including water supply, roads & transit, electric and power supply, and sanitation has been greatly increased by the rapid urbanization occurring in emerging nations. Additionally, as a result of an increase in the population's rate of emigration to metropolitan areas, there is a greater need for effective wastewater treatment pipeline structures, which is possible through the use of pipe hangers & supports. To suit the needs of end customers, major companies throughout the world are introducing pipe hangers & support distinctive materials and engineering designs. Shortly, this is probably going to fuel demand for pipe hangers & supports market growth.

"Increase in Piping Projects to Promote Industry Progress"

End users prefer Pipe Hangers & Supports for securing piping to support weight loads or dead weight. Users consider these to be the best option for keeping pipes ordered and reducing the probability of undesirable events like rupturing or deadweight colliding with other things. The demand for pipe hangers & supports is changing due to an increase in piping projects in many different industrial sectors. The implementation of strict laws and regulations by regulatory organizations to maintain proper pipeline systems so that they can sustain weight loads and prevent contamination or rupture is also anticipated to propel the expansion of the pipe hangers & supports market.

RESTRAINING FACTORS

"High Cost in Production to Hinder Market Growth"

To meet end-user demands, manufacturers are concentrating on developing affordable piping support solutions such as clamps, brackets, and traditional piping support systems, which could provide a challenge to the pipe hangers and supports market expansion. A significant hindrance to the pipe hangers and supports market expansion is also likely to be the possibility of material corrosion. Additionally, variations in the price of the raw materials used to make pipe hangers and supports and the expense of maintaining them, in general, are anticipated to restrain the market's expansion. The above-mentioned factors are the challenges faced by Manufacturers of the pipe hangers & supports market.

Pipe Hangers and Supports Market REGIONAL INSIGHTS

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"Increase in Demand to Propel Market Progress in Asia Pacific "

According to estimates, developing nations in the Asia Pacific region make up a sizeable portion of the worldwide pipe hangers and supports market. Due to the rising use of pipe hangers and supports in a variety of applications over the past few years, Asia is anticipated to continue to be a potential market for pipe hangers and supports over the forecast period. Additionally, the rapidly urbanizing and industrializing Asian nations, along with the optimistic outlook for the building materials industry, are indirectly boosting the demand for the pipe hangers & support market. The region also has a high level of export activities, which is expected to open up major potential opportunities for the participants in the global pipe hangers & supports market.

KEY MARKET PLAYERS

"Market Players Focus on New Product Launches to Strengthen Market Position"

Leading players in the market are adopting various strategies to expand their presence in the market. These include R&D investments and the launch of new, technologically advanced products in the market. Some companies are also adopting strategies such as partnerships, mergers, and acquisitions to strengthen their market position.   

List of Market Players Profiled

• Hill & Smith Holdings (U.K.)
• Eaton (B-Line) (U.S.)
• Anvil International (U.S.)
• Globe Pipe Hanger Products (U.S.)
• LISEGA SE (Germany)
• Kinetics Noise Control (U.S.)
• Piping Technology & Products (PTP) (U.S.)
• Rilco Manufacturing Company (U.S.)
• PHD Manufacturing (U.S.)
• Witzenmann (Germay)
• National Pipe Hanger Corporation (U.S.)
• Gripple (U.K.)
• Sunpower Group (China)
• Empire Industries (India)
• Taylor Associates (U.K.)
• Saketh Exim (Tembo Global Industries Ltd.) (India)
• Tembo Global Industries (India)

REPORT COVERAGE

The report covers overall market aspects, including the market segmentation based on its type and application. The report depicts a diverse group of participants that includes the market and the potential market leaders. Major factors that are expected to drive major growth in the market. The factors anticipated to expand the market share are also included in the report to offer market insights. The estimated growth of the market in the forecast period is also included in the report. The regional analysis is completed to explain the region's dominance in the global market. The factors hindering the growth of the market are discussed in detail. The SWOT analysis of the market is depicted in the report. It contains all-inclusive market details.