Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 3.64 billion | USD 4.99 billion | 3.70% | 2023 |
The global oil and gas fittings market size was worth around USD 3.64 billion in 2023 and is predicted to grow to around USD 4.99 billion by 2032 with a compound annual growth rate (CAGR) of roughly 3.70% between 2024 and 2032.
The report covers forecast and analysis for the oil and gas fittings market on a global and regional level. The research report presents a comprehensive valuation of the market, competition, opportunities, emerging trends, and industry-validated market figures.The study provides historic data of 2018 to 2032 along with a forecast from 2024 to 2032 based on revenue (USD Billion).
Oil and gas fittings are the pipeline systems used in the long-distance transportation of a liquid or gas through a system of pipes. Oil and gas exploration activities are performed within adverse settings, lifting the requirement of stainless steel oil and gas fittings owing to the high CRA (corrosion and resistance alloys) specifications. These fittings counter the impacts of carbon dioxide and hydrogen sulfide, as well as high temperatures. The high content of copper and molybdenum in stainless steel oil and gas pipe fittings ensure low thermal expansion and high thermal conductivity, whereas the presence of nickel assures high resistance against corrosion cracking.
Oil and gas fittings such as long radius pipes are gaining high traction in this platform as they lower the pressure loss during the directional change of flow along with smooth maintenance.
Due to prolonged exposure to high-pressure distribution, oil and gas fittings require regular maintenance. Oil and gas fittings made of stainless steel are capable of withstanding high pressure. Favorable government policies along with new discoveries in oil and gas fields are likely to drive the global oil and gas fitting market in the forecast timeframe. Additionally, a rise in the oil and gas exploration activities in various parts of the world is anticipated to fuel the market demand over the forecast period. Furthermore, increasing consumption of crude oil is also likely to boost the oil and gas fittings market growth in the forecast timeframe.
The global oil and gas fitting market is segmented on the basis of type. power output and by region.
By Type, the oil and gas fitting market is segmented into Portable Generator, Stationary Generato,
By Power Output, the oil and gas fitting market is segmented into Less than 1.0 KW, 1.0 to 3.0 KW, 3.0 to 5.0 KW, More than 5.0 KW
Report Attributes | Report Details |
---|---|
Report Name | Oil and Gas Fittings Market Research Report |
Market Size in 2023 | USD 3.64 billion |
Market Forecast in 2032 | USD 4.99 billion |
Growth Rate | CAGR of 3.70% |
Number of Pages | 110 |
Key Companies Covered | Techtronic Industries Co., Ltd., Stanley Black & Decker Inc., Champion Power Equipment Inc., Stephill Generators Ltd., Hyundai Power Equipment, SGS Engineering (UK) Ltd., Yamaha Motor Co. Ltd., Generac Power Systems Inc., Honda Motor Co. Ltd., and Kohler Co. |
Segments Covered | By Type, By Power Output, By Application and By Region. |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
Based on region, North America accounted for the largest market share in 2023. The region is further anticipated to register the highest CAGR over the forecast period owing to increasing onshore exploration activities. U.S. has started several projects for natural gas exploration and transportation pipeline. Moreover, increasing intra-country and inter-country on-shore pipeline projects in the U.S. and Canada to satisfy the rising demand for oil and gas is capturing the attention of oil and gas manufacturers to invest in the region.
By Type
By Power Output
By Region
FrequentlyAsked Questions
Oil and gas fittings are the pipeline systems used in the long-distance transportation of a liquid or gas through a system of pipes.
According to study, the Oil and Gas Fittings Market size was worth around USD 3.64 billion in 2023 and is predicted to grow to around USD 4.99 billion by 2032.
The CAGR value of Oil and Gas Fittings Market is expected to be around 3.70% during 2024-2032.
North America has been leading the Oil and Gas Fittings Market and is anticipated to continue on the dominant position in the years to come.
The Oil and Gas Fittings Market is led by players like Techtronic Industries Co., Ltd., Stanley Black & Decker Inc., Champion Power Equipment Inc., Stephill Generators Ltd., Hyundai Power Equipment, SGS Engineering (UK) Ltd., Yamaha Motor Co. Ltd., Generac Power Systems Inc., Honda Motor Co. Ltd., and Kohler Co.
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