Metal expansion joints: Key market research findings
- APAC dominates the market geographically
- Oil and gas sector accounts for a majority of the market’s revenue
- Key vendors – Bikar, EagleBurgmann, FlexEJ, Garlock, and Macoga
Technavio’s market research analysts predict the global metal expansion joints market to grow at a CAGR of almost 10% between 2016 and 2020. The growth of this market is fueled primarily by the expansion of pipeline infrastructure. The global pipeline network is significantly spread across process industries such as oil and gas and water and wastewater management. This growing network of pipelines adds to the growth of the global metal expansion joint market. During 2015, the global metal expansion joints market was dominated by APAC, which accounted for a market share of around 49%. Rapid industrialization and urbanization in APAC will fuel the demand for metal expansion joints in the region during the forecast period.
The new market research report from Technavio presents a breakdown and analysis of the metal expansion joints segments based on the end-user.
“The development of low-pressure stainless steel bellows facilitates extreme movement in pipelines. Low-pressure expansion joints can reduce the number of pipe guides and support anchors in pipelines. Innovations such as these help reduce the number of compensators used in a pipeline network,” says Anju Ajaykumar, Lead Analyst, Heavy Industry, Technavio Research.
By 2020, the oil and gas segment will account for around 32% of the overall market revenue to become the key revenue generator in the metal expansion joints market across the globe. Many E&P companies worldwide are reframing their investment policies to focus on the extraction of more crude oil from proven assets rather than investing in exploring new assets. This trend is stimulated fundamentally by the falling prices of crude oil. Pipelines are among the safest and most cost-effective means of transporting crude oil and refined products from E&P site to refineries or storage facilities. The global petroleum pipeline sector is one of the primary consumers of metal expansion joints in the oil and gas industry.
The key vendors in the market include Bikar, EagleBurgmann, FlexEJ, Garlock, and Macoga. The global metal expansion joint market is marked by the presence of several international players who offer a wide range of products and services to meet the demands of key end-users. Apart from the leading players, the market is fragmented within several regional vendors, especially from the developing nations.
A more detailed analysis is available in the Technavio report, Global Metal Expansion Joints Market 2016-2020.
We can customize reports by other regions and specific segments upon request.
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