The trenchless pipe rehabilitation market size was valued at USD 4.12 billion in 2022 and is projected to reach a valuation of USD 4.37 billion in 2023. The market is expected to reach USD 6.48 billion by 2030 with a CAGR of 5.8% during the forecast period. Trenchless pipe rehabilitation is a technique which is used to replace or repair the underground pipes without having to excavate the large areas. The need for sustainable infrastructure solutions is driving the market growth in recent years. Fortune Business Insights™ shares this information in its report titled “Trenchless Pipe Rehabilitation Market, 2023-2030.”
Key Industry Development:
February 2023- The Vortex Companies LLC launched its new and inclusive UV Cured-in Place-Pipe systems solutions portfolio. The company is a leading player in progressive trenchless water and sewer technologies and infrastructure renewal services.
|Forecast Period 2023 to 2030 CAGR
|2030 Value Projection
|USD 6.48 Billion
|Market Size in 2022
|USD 4.12 Billion
|Historical Data for
|No. of Pages
|Trenchless Pipe Rehabilitation Market Size, Share & COVID-19 Impact Analysis, By Type (<18 Inch Pipes Line, 18-36 Inch Pipes, and >36 Inch Pipes) By Application (Water Main Pipes, Wastewater Pipes, and Others) and Regional
|Increasing Need To Have Sustainable Infrastructure Solutions To Propel Market Development
|Market Is Led By Aegion With Vital Role Finding Transformational Solutions
Drivers and Restraints:
Increasing Need To Have Sustainable Infrastructure Solutions To Propel Market Development
Increasing need to have sustainable infrastructure solutions is anticipated to drive the trenchless pipe rehabilitation market growth. Sustainable infrastructure has been a modern-day need and is significant for economic growth and environmental sustainability. The technique of trenchless pipe rehabilitation technique offers a sustainable solution for rehabilitating and repairing old pipelines. With growth in municipalities and cities, improvement and restoration of existing underground utility systems has become more and more consistent.
However, presence of traditional alternatives for the product as they are less difficult is expected to hamper the market growth for the trenchless pipe rehabilitation.
Pandemic Highlighted The Importance Of Maintaining Infrastructure
The COVID-19 pandemic impacted the market as construction projects faced equipment shortages, labor, and others. The pandemic highlighted the importance of maintaining infrastructure, such as pipes and utilities. Therefore, governments kept water pipe repair under the essentials category during the COVID-19 lockdown.
Click here to get the short-term and long-term impact of COVID-19 on this market. Please visit: https://www.fortunebusinessinsights.com/trenchless-pipe-rehabilitation-market-107720