The global flanges market size was US$ 4.5 billion in 2021. The global flanges market size is estimated to reach US$ 6.9 billion by 2030, growing at a compound annual growth rate (CAGR) of 5.0% during the forecast period from 2022 to 2030.
A flange is a raised ridge/rim used to improve strength or distribute a load. Flanges are used to connect valves, pumps, pipes, and other equipment to form a piping system. It also allows for simple washing, inspection, and change. They are welded or screwed together. Flanged joints are made by joining two flanges together and placing a gasket between them to form a seal.
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Factors Affecting Marketing Growth
In various countries the increased tariffs on steel and aluminum imports which have affected the manufacturing sector of the country led to cause a hike in the price of the raw materials from which flanges are made, thereby, hindering the growth of the global market.
The food & beverage processing industry is the largest consumer of flanges which drives the growth of the global market.
The energy sector in countries is largely privately operated, financed, and owned. Due to this, the investment in the development of the oil & gas sector has grown, which boosts the demand for flanges to connect the components of the equipment. Thus, driving the growth of the global market.
Impact on COVID-19 Analysis
The COVID-19 outbreak majorly impacted the construction, manufacturing, hotel, and tourism industries. Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This led to a decline in the manufacturing of various construction materials as well as their demand in the market, thereby hindering the growth of the global flanges market. Thus, COVID-19 had a negative impact on the growth of the global market.
Regional Analysis
Asia Pacific has occurred as the strongest global flanges market. It is attributed to the presence of a large number of manufacturers in the countries. The energy sector in countries is largely privately operated, financed, and owned. Due to this, the investment in the development of the oil & gas sector has grown, which boosts the demand for flanges to connect the components of the equipment. Thus, driving the growth of the global market in the region.
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Leading Competitors
The prominent players in the global flanges market are:
Texas Flange
SSI Technologies
Simtech Process Systems
Sandvik AB
Qontrol Devices
Pro-Flange
Flanschenwerk Bebitz GmbH
Coastal Flange, Inc.
Hitachi
Kerkau Manufacturing
Others
Segmentation Analysis
The global flanges market segmentation focuses on Type, Material, Industry Verticals, End User, and Region.
Segmentation on the basis of Type
Threaded
Socket Weld
Slip-on
Others
Segmentation on the basis of Material
Stainless Steel
Carbon Steel
Aluminum
Others
Segmentation on the basis of Industry Verticals
HVAC
Automotive
Oil and Gas
Manufacturing
Others
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Segmentation on the basis of Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Flanges market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Flanges market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Flanges market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Flanges business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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