Product Code: ETC377484 | Publication Date: Aug 2023 | Updated Date: Feb 2025 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 | |
India Pipes And Fittings market currently, in 2023, has witnessed an HHI of 1574, Which has increased slightly as compared to the HHI of 1019 in 2017. The market is moving towards moderately competitive. Herfindahl index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means fewer numbers of players or countries exporting in the market.
The India pipes and fittings market size was estimated to be valued at USD 16.4 billion, with an expected compound annual growth rate (CAGR) of 6.5% during the forecast period. The increasing demand for water supply, irrigation, sewerage systems, plumbing activities are some of the key factors driving the India pipes and fittings industry growth over this forecast period. Moreover, government initiatives such as Pradhan Mantri Gram Sadak Yojana (PMGSY) which is aimed at developing rural roads infrastructure further boost the India?s pipe market growth prospects. Also, a growing population coupled by increase urbanization encourages domestic manufacturers to invest in new production capacities that will help meet rising demand for high quality pipes & fittings from construction sector customers across India.
In recent years, India has witnessed significant growth in various industrial sectors, including the pipes and fittings market. The rapid urbanization and infrastructure development in the country have been major drivers of this growth. As the government continues to invest in mega infrastructure projects, the demand for pipes and fittings has soared. Additionally, the implementation of favorable policies to encourage foreign investments and domestic manufacturing has further boosted the market.
The pipes and fittings market in India faces several challenges that impact its growth and development. One of the significant challenges is the lack of proper infrastructure for distribution and transportation. This can lead to delays and inefficiencies in the supply chain, affecting market accessibility and availability of products.Moreover, the market`s dependency on raw material imports can expose it to supply chain disruptions and price fluctuations, impacting overall production costs. Developing local sourcing options and resilient supply chains is essential for the industry`s sustainability.Additionally, the presence of counterfeit and low-quality pipes and fittings in the market can compromise system performance and pose safety risks. Ensuring compliance with industry standards and promoting genuine products is vital for consumer safety.
The COVID-19 pandemic had a significant impact on India pipes and fittings market. The decline in construction and industrial activities affected the demand for pipes and fittings. Furthermore, disruptions in the supply chain and logistical challenges hampered the market`s growth during the pandemic.
The India Pipes and Fittings Market is served by companies like Finolex Industries Ltd., Astral Poly Technik Limited, Prince Pipes and Fittings Ltd., Supreme Industries Ltd., and Jain Irrigation Systems Ltd.