CHICAGO, Oct. 4, 2023 /PRNewswire/ -- The report "Copper Tubes Market by Type (Straight Length, Coils, Pancakes or Flattened Tubes, U-Bends and Drawn Tubes), Thickness (Standard Gauge, Extra Heavy Gauge, Thin Walled Gauge, Capillary Tubes), Application, and Region- Global Forecast to 2028", is projected to reach USD 54.5 billion by 2028, at a CAGR of 6.3% from USD 40.1 billion in 2023.
The growth of the copper tubes market is primarily driven by global expansion of the construction industry. Expansion of the HVACR sector, coupled with ongoing technological advancements in copper tubes, further contribute to its expansion.
Browse in-depth TOC on "Copper Tubes Market"
144 - Tables
35 - Figures
209 - Pages
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=41085011
"HVACR by application is projected to be the largest, in terms of value, during the forecast period."
HVACR (Heating, Ventilation, Air Conditioning, and Refrigeration) applications hold the largest market share in the copper tubes market primarily due to copper's exceptional thermal conductivity and corrosion resistance properties, which are crucial for efficient heat transfer and long-term durability in these systems. Copper tubes are widely used in HVACR systems for their ability to handle both high and low-temperature conditions, ensuring optimal performance in heating and cooling processes. Additionally, copper's antimicrobial properties make it suitable for use in air conditioning systems where maintaining indoor air quality is essential. Its reliability, versatility, and proven track record in HVACR applications have cemented copper tubes as the preferred choice, driving their dominant market share in this industry.
"Asia Pacific is expected to be the fastest growing market for copper tubes during the forecast period, in terms of value."
The Asia Pacific region is the largest and fastest-growing market for copper tubes, driven by several key factors. First, robust urbanization and industrialization, particularly in countries like China and India, have led to increased demand for copper tubes in infrastructure, construction, and manufacturing, covering plumbing, HVAC systems, and electrical networks. Second, a booming construction sector, spurred by population growth and a burgeoning middle class, has heightened the need for residential and commercial structures, intensifying demand for copper tubes in plumbing and air conditioning. Third, the automotive industry, especially in China and India, has experienced exponential growth, with copper tubes vital in applications like radiators and air conditioning, boosting demand. Additionally, government investments in infrastructure across transportation, energy, and water supply rely on copper tubes for secure plumbing and electrical systems, further fueling demand.
Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=41085011
The electrical and electronics industry, home to major manufacturers in the Asia-Pacific, uses copper tubes extensively for components like heat exchangers, connectors, and coils, driven by the surge in consumer electronics. The region's focus on renewable energy, such as solar and wind power, has increased copper tube usage in applications like solar thermal systems. Infrastructure upgrades in older buildings favor copper tubes for their durability. The substantial and fast-growing population migrating to urban areas sustains demand across residential, commercial, and industrial sectors.
The key players in this market are Mueller Streamline Co.(US), KME Group S.p.A (Italy), Wieland Group (Germany), LUVATA (Finaland), KOBE STEEL, LTD. (Japan), Cambridge - Lee Industries LLC (USA), Shanghai Metal Corporation (China), Qindao Hongtai Copper Co., LTD (China), CERRO Flow Products LLC (USA), MM Kembla (Australia).
Browse Adjacent Market: Equipment Machine and Tooling Market Research Reports & Consulting
Related Reports:
Industrial Tubes Market - Global Forecast to 2023
Oxygen-Free Copper Market - Global Forecast to 2026
About MarketsandMarkets
MarketsandMarkets has been recognized as one of America's best management consulting firms by Forbes, as per their recent report.
MarketsandMarkets is a blue ocean alternative in growth consulting and program management, leveraging a man-machine offering to drive supernormal growth for progressive organizations in the B2B space. We have the widest lens on emerging technologies, making us proficient in co-creating supernormal growth for clients.
Earlier this year, we made a formal transformation into one of America's best management consulting firms as per a survey conducted by Forbes.
The B2B economy is witnessing the emergence of $25 trillion of new revenue streams that are substituting existing revenue streams in this decade alone. We work with clients on growth programs, helping them monetize this $25 trillion opportunity through our service lines - TAM Expansion, Go-to-Market (GTM) Strategy to Execution, Market Share Gain, Account Enablement, and Thought Leadership Marketing.
Built on the 'GIVE Growth' principle, we work with several Forbes Global 2000 B2B companies - helping them stay relevant in a disruptive ecosystem. Our insights and strategies are molded by our industry experts, cutting-edge AI-powered Market Intelligence Cloud, and years of research. The KnowledgeStore (our Market Intelligence Cloud) integrates our research, facilitates an analysis of interconnections through a set of applications, helping clients look at the entire ecosystem and understand the revenue shifts happening in their industry.
To find out more, visit www.MarketsandMarkets.com or follow us on Twitter, LinkedIn and Facebook.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com
Research Insight: https://www.marketsandmarkets.com/ResearchInsight/copper-tubes-market.asp
Visit Our Website: https://www.marketsandmarkets.com/
Content Source: https://www.marketsandmarkets.com/PressReleases/copper-tubes.asp
Logo: https://mma.prnewswire.com/media/660509/MarketsandMarkets_Logo.jpg
View original content:https://www.prnewswire.co.uk/news-releases/copper-tubes-market-worth-54-5-billion-by-2028--exclusive-report-by-marketsandmarkets-301946739.html
