IMARC Group has recently released a new research study titled “Metal Expansion Joints Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, offers a detailed analysis of the market drivers, segmentation, growth opportunities, trends and competitive landscape to understand the current and future market scenarios.
How big is the metal expansion joints market?
The global metal expansion joints market size reached US$ 961 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,187 Million by 2028, exhibiting a growth rate (CAGR) of 3.4% during 2023-2028.
What are metal expansion joints?
Metal expansion joints represent devices that incorporate one or more metal bellows to accommodate dimensional changes arising from the thermal expansion or contraction of pipelines, ducts, or vessels. They consist of numerous product types, such as gimbal, hinged, universal, in-line and elbow pressure balanced, axial and lateral expansion, and pressure switches, which absorb vibrations resulting from engines, pumps, and motors. The purpose of metal expansion joints is to compensate for movements caused by rotating machinery, pressure deformations, and installation misalignment or building settlements. They alleviate stress in pipe systems and reduce pipe loads at critical equipment connections, including pumps and steam turbines.
Metal expansion joints prevent the risk of additional maintenance and repair contributes to longer operational uptime, offers superior space conservation, improved economic efficiency, and enhanced performance in absorbing larger movements, as compared to pipe bends and loops. Consequently, they are extensively employed across several sectors, such as chemical, food and beverage (F&B), pharmaceutical, power, etc.
Get the Free Sample Report: https://www.imarcgroup.com/metal-expansion-joints-market/requestsample
What are the growth prospects and trends in the metal expansion joints industry?
The primary factor supporting the metal expansion joints market is the escalating usage of the product as compensating elements for thermal expansion in pipelines, machines, and containers. Furthermore, the elevating integration of low-pressure bellows to withstand high temperatures and pressures, coupled with the increasing utilization of pipeline infrastructure across various industries, are also positively influencing the market growth.
Additionally, the inflating investments of key players in research and development (R&D) endeavors to examine diverse fluids flowing through pipelines for catering to customer demands in terms of design and applications and the growing focus on diverse marketing strategies to expand their customer base are further propelling the market growth.
Moreover, the development of complex infrastructure of large pipelines in the petrochemical industry and the rising need for the product in fire protection piping systems will propel the metal expansion joints market in the coming years.
What is included in market segmentation?
The report has segmented the market into the following categories:
Product Type Insights:
- Lateral Expansion Joints
- Axial Expansion Joints
- Angular Expansion Joints
- Universal Expansion Joints
- Containers and Pipelines
- Heavy Machineries
- Heat Exchangers
- Power Generation Industry
- Petrochemical Industry
- Heavy Industry
- Water Treatment Industry
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Who are the manufactures operating in the industry?
Top manufactures Covered in this report:
- EagleBurgmann Germany GmbH & Co. KG (Freudenberg & Co. KG)
- FlexEJ Ltd.
- Macoga S.A.
- Piping Technology & Products Inc.
- Senior plc
- The Metraflex Company
- Triad Bellows
- Uniflex Inc.
- Weldmac Manufacturing Co.
- Witzenmann GmbH.
Ask Analyst for Customization and Browse full report with TOC & List of Figure: https://www.imarcgroup.com/request?type=report&id=6774&flag=C
If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC Group’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
Company Name: IMARC Group
Contact Person: Elena Anderson
Address: 134 N 4th St
Country: United States