Market outlook for trenchless pipe rehabilitation
“The Business Research Company recently published a comprehensive report on global trenchless pipe rehabilitation market size and trends analysis with forecast 2024-2033. This latest market research report provides a wealth of valuable insights and data including global market size, regional shares, etc. It also covers current trends, future opportunities and essential data for success in the industry.
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According to The Business Research Company, the trenchless pipe rehabilitation market has grown significantly in recent years. It will grow from $4.39 billion in 2023 to $4.69 billion in 2024, at a compound annual growth rate (CAGR) of 6.6%. The growth in the historical period can be attributed to an increase in spending by state and municipal corporations, an increasing need for sustainable infrastructure solutions, growing public awareness of the benefits of trenchless technology, increasing urbanization and an increase in trenchless pipe rehabilitation.
The trenchless pipe rehabilitation market is expected to experience strong growth in the next few years. In 2028, it will grow to $6.13 billion at a compound annual growth rate (CAGR) of 6.9%. The growth during the forecast period is attributed to an increase in infrastructure budget, increase in infrastructure maintenance and repair needs, increasing use of cured-in-place pipes (CIPP), demand for trenchless pipe rehabilitation, and growth in municipalities and cities. Key trends during the forecast period include technological advancements, product innovations, launch of new Petra platform, adoption of IoT and sensor technology, and integration of trenchless technology.
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Market drivers and trends:
Increasing demand for infrastructure rehabilitation is expected to drive the growth of the trenchless pipe rehabilitation market. Infrastructure rehabilitation is the repair, restoration and modernization of existing infrastructure systems to ensure continued functionality, safety and efficiency. The need for infrastructure rehabilitation is due to aging infrastructure, economic impacts, environmental issues and sustainability goals. Trenchless pipe rehabilitation offers a minimally invasive, cost-effective and environmentally friendly approach to infrastructure rehabilitation. It efficiently addresses the challenges of aging underground pipelines and contributes to the overall improvement and longevity of essential infrastructure systems. For example, according to the American Road & Transportation Builders Association (ARTBA), a U.S.-based government agency, as of August 2023, more than 222,000 U.S. bridges were in need of major repair work or were scheduled for replacement, representing 36% of all U.S. structures. Therefore, the increasing demand for infrastructure rehabilitation is driving the trenchless pipe rehabilitation market.
Major companies operating in the trenchless pipe rehabilitation market are focused on developing technologies such as UV curing technology to increase efficiency, reduce curing times and improve the durability of pipe linings. UV curing technology enables faster project completion, minimizes environmental impact and is particularly effective when rehabilitating pipes in demanding environments such as: B. urban areas where minimizing disruption is critical. For example, in June 2024, United Felts LLC, a US-based company that provides trenchless pipe rehabilitation, launched a new portfolio of UV-cured pipes (CIPP) for trenchless sewer rehabilitation. This portfolio utilizes advanced UV curing technology, a significant innovation in the trenchless pipeline repair industry. Designed to accommodate a variety of pipe sizes and conditions, it provides a versatile solution for municipalities and contractors looking to rehabilitate aging or damaged wastewater systems without the need for extensive excavation.
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Key Market Players:
Granite Construction Inc., Trelleborgs Gummifabriks AB, Michels Corporation, Roto-Rooter Group Inc., Insituform Technologies Inc., Ashimori Industry Co. Ltd., Vortex Companies LLC, Sewer Equipment Company, SPML Infra Ltd., Waterline Renewal Technologies Inc., NuFlow Technologies Inc., SAK Construction LLC, Spinello Companies, Hobas Pipe USA Inc., HK Solutions Group, AquaPipe, Impreg Group LLC, NordiTube Technologies SE, Amex Sanivar, Saertex Multicom GmbH, Pipe Restoration Technologies LLC
Key insights on the trenchless pipe rehabilitation market 2024:
• The market for trenchless pipe rehabilitation is expected to grow strongly in the next few years. In 2028, it will grow to $6.13 billion at a compound annual growth rate (CAGR) of 6.9%.
• Increasing investments in infrastructure rehabilitation are driving growth in the trenchless pipe market
• Innovative UV-curing technology revolutionizes trenchless pipe rehabilitation
• North America was the largest region in the trenchless pipe rehabilitation market in 2023
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The economic research company (www.thebusinessresearchcompany.com) is a leading market research firm known for its expertise in business, market and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals and technology, providing unparalleled insight and strategic advice to clients worldwide.
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Contact us:
The economic research company
Europe: +44 207 1930 708
Asia: +91 88972 63534
America: +1 315 623 0293
Email: [email protected]
Follow us on:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Find out more about the business research company
The economic research company (www.thebusinessresearchcompany.com) is a leading market research firm known for its expertise in business, market and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals and technology, providing unparalleled insight and strategic advice to clients worldwide.
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