Key Trenchless Pipe Rehabilitation Market Trend 2024-2033: Innovative UV-Cured Technology
Trenchless Pipe Rehabilitation Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033
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How is the Trenchless Pipe Rehabilitation Market Evolving?2
The trenchless pipe rehabilitation market size has grown strongly in recent years. It will expand from $4.39 billion in 2023 to $4.69 billion in 2024 at a compound annual growth rate CAGR of 6.6%. This growth trajectory can be ascribed to an increase in government and municipal corporations' spending, escalating need for sustainable infrastructure solutions, growing public awareness of the benefits of trenchless technology, and increasing urbanization.
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What is the Projected Market Size of the Global Trenchless Pipe Rehabilitation Market?3
The trenchless pipe rehabilitation market size is projected to foresee robust growth in the near future. From $4.39 billion in 2023, the market size will bolster to $6.13 billion in 2028 at a compound annual growth rate CAGR of 6.9%. This incipiency during the forecast period can be attributed to the increase in the infrastructure budget, rising demand for infrastructure maintenance and repairs, escalating use of cured-in-place pipe CIPP lining, and growth in cities and municipalities.
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What is Behind the Growth of the Trenchless Pipe Rehabilitation Market?
The increasing demand for infrastructure rehabilitation is expected to fuel the growth of the trenchless pipe rehabilitation market going forward. Infrastructure rehabilitation encompasses the repair, restoration, and upgradation of existing infrastructure systems to maintain ongoing functionality, safety, and efficiency. Owing to the aging infrastructure, economic impacts, environmental considerations, and sustainability objectives, the demand for infrastructure rehabilitation is rising. Trenchless pipe rehabilitation provides a minimally invasive, cost-efficient, and environment-friendly solution for infrastructure rehabilitation, proficiently addressing the challenges of aging underground pipelines. This method substantially contributes to the overall enhancement and longevity of core infrastructure systems. For instance, in August 2023, according to the American Road & Transportation Builders Association ARTBA, a US-based government agency, over 222,000 U.S. bridges needed major repair work or replacement, representing 36% of all U.S. structures.
Which Key Industry Players are Leading the Trenchless Pipe Rehabilitation Market?
Major companies operating in the trenchless pipe rehabilitation market are 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.
What's on the Horizon in Terms of Emerging Trends in the Trenchless Pipe Rehabilitation Market?
Key players in the trenchless pipe rehabilitation market are primarily focused on developing innovations such as UV-cured technology to improve efficiency, slash curing times, and enhance the durability of pipe linings. The UV-cured technology expedites project completion, minimizes the environmental footprint, and is highly effective in rehabilitating pipes in challenging environments, notably in urban areas where minimizing disruption is crucial. For instance, in June 2024, United Felts LLC, a US-based trenchless pipe rehabilitation company, unveiled a new UV-cured-in-place pipe CIPP portfolio for trenchless sewer rehabilitation. This portfolio leverages advanced UV curing technology, a prominent innovation in the trenchless pipeline repair industry. It caters to various pipe sizes and conditions, offering a versatile solution for municipalities and contractors seeking to rehabilitate aging or damaged sewer systems without extensive excavation.
How is the Trenchless Pipe Rehabilitation Market Segmented?
The trenchless pipe rehabilitation market covered in this report is segmented as follows:
- By Type: <18 Inch Pipes Line, 18-36 Inch Pipes, >36 Inch Pipes, Other Types.
- By Method Type: Cured-In-Place Pipe CIPP, Pipe Bursting, Slip-Lining, Spray-In-Place Piping SIPP, Other Method Types.
- By Application Type: Main Pipes, Wastewater Pipes, Other Application Types.
- By End User: Residential, Commercial, Industrial, Municipal.
Regional Insights: Highlighting the Dominance of North America in the Trenchless Pipe Rehabilitation Market
In 2023, North America emerged as the largest region in the trenchless pipe rehabilitation market. Asia-Pacific is anticipated to be the fastest-growing region during the forecast period. The regions covered in the market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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