Global Water Service Connections Product Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Water Service Connections Product Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Water service connections product include valves, service fittings, saddles, meter boxes, and other waterworks products. Water service connections products are used for municipal water and industrial water.

Market Overview:

The latest research study on the global Water Service Connections Product market finds that the global Water Service Connections Product market reached a value of USD 16592.03 million in 2022. It’s expected that the market will achieve USD 23685.29 million by 2028, exhibiting a CAGR of 6.11% during the forecast period.

Influence of COVID-19 Outbreak on Water Service Connections Product Industry Development

The raging COVID-19 has plunged the global economic environment into depression. The influence of COVID-19 on water service connections product industry will involve all major links and entities in the industrial chain. The management efficiency of the company declined, commuting was hindered, production plans were hindered, and the company's development strategy and marketing methods were forced to adjust. In addition, during the COVID-19 period, the logistics speed slowed down or even stopped, and the supply of raw materials for water service connections product production was tight. The company's production is limited to some extent, and the production of related enterprises in the hardest-hit areas is greatly affected. After the epidemic is over, it will also face the financial pressure of rising costs caused by the shortage of raw materials.

Drivers

Driven by the increasing infrastructure of manufacturing and service industries, the increase of housing construction and the significant government expenditure on infrastructure construction, the construction industry has been growing strongly. In addition, all regions are committed to strengthening smart water services, building and utilizing Internet of Things science and technology, cloud computing, radio frequency identification and other technologies to fully connect water supply networks, water plants and other basic facilities, and forming a smart water system in line with the development of modern cities. Construction industry and infrastructure growth promote water service connections product development.

Limitations

Raw materials are an important part of water service connections product industry, accounting for most of the production cost. Generally speaking, the quality of raw materials directly affects the quality of water service connections product. Since last year, the fluctuation of global commodity prices has intensified. Most water service connections product manufacturers are facing the pressure of rising raw material costs, which brings a lot of troubles to their business operations. The market price of various metal raw materials has been rising continuously this year. The rising prices of raw materials have seriously affected the profits of enterprises. Therefore, if the company can't effectively reduce costs and improve efficiency, and maintain the bargaining power of product prices, there will be the risk of falling gross profit margin and performance.

Opportunities

Product availability and retail shelf space plays a vital role in creating product demand. Distribution is a key success factor in the current water service connections product industry. Rising competition and comparatively slow market growth rate of the water service connections product products have compelled companies to focus on increasing product penetration. The popularity of e-commerce has significantly increased water service connections products sales. More and more companies are adopting online and offline integration, strengthening the construction of sales channels and expanding their marketing networks. Through the promotion of the breadth and depth of each sales channel, the market coverage and competitiveness will be further enhanced, and the good and sustainable development of sales will be realized. With the further development of online sales of water service connections products, the diversified and perfect sales channels in the industry will further promote the sales of the whole market.

Region Overview:

Europe had the highest growth rate of all regions.

Company Overview:

Mueller is one of the major players operating in the Water Service Connections Product market, holding a share of 4.41% in 2022.

Mueller Water Products, Inc. manufactures a broad range of water infrastructure and flow control products for use in water distribution networks, water and wastewater treatment facilities, gas distribution systems and fire protection piping systems.

Hawle manufactures and supplies fittings, flanges, valves, and molded parts. The Company provides gate and service valves, pipe entry connections, extension spindles and handwheels, hydrants, pipe fittings and tension locks, fittings, pipe repair and coupling clamps, control valves, and tools.

Segmentation Overview:

Among different product types, Valves segment is anticipated to contribute the largest market share in 2027.

Application Overview:

By application, the Municipal Water segment occupied the biggest share from 2017 to 2022.

Key Companies in the global Water Service Connections Product market covered in Chapter 3:

IPL group
GF Piping Systems
HUOT
Ford Meter Co.
AY McDonald
Mueller
Hawle
LASCO Fittings

In Chapter 4 and Chapter 14.2, on the basis of types, the Water Service Connections Product market from 2018 to 2029 is primarily split into:

Valves
Service Fittings
Saddles
Meter Boxes
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Water Service Connections Product market from 2018 to 2029 covers:

Municipal Water
Industrial Water

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)