Selbyville, Delaware,, Feb. 06, 2024 (GLOBE NEWSWIRE) --
The copper tube market is anticipated to surpass USD 46.7 billion by 2032, as reported in a research study by Global Market Insights Inc.
Expanding utilization in renewable energy systems (RES) is expected to propel the market growth. The exceptional thermal conductivity, corrosion resistance, and durability offered by copper tubes is playing a crucial role in RES applications, such as solar thermal collectors and geothermal systems. The global push towards sustainable energy solutions coupled with the growing investments in renewable energy infrastructure by several governments and industries will further accelerate the market growth.
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Copper capillary tube market is estimated to foresee considerable growth through 2032 owing to the rising demand for efficient cooling and refrigeration solutions. The small diameter and precise dimensions of capillary tubes is contributing to their widespread use in refrigeration and air conditioning systems. Additionally, increasing usage as crucial components in diverse applications due to efficiency in regulating refrigerant flow coupled with excellent thermal conductivity will fuel the product uptake.
The HVAC application segment held a sizable revenue share of the copper tube market in 2023 and is set to record notable growth between 2024 and 2032. The growth can be attributed to the exceptional thermal conductivity, corrosion resistance, and malleability of copper offered in HVAC systems. The increasing demand for efficient and durable heat exchangers, coils, and refrigeration lines in residential, commercial, and industrial buildings is also amplifying the use of copper tubes. The influx of stringent energy efficiency regulations will further drive the segment growth.
Asia Pacific copper tube market is predicted to exhibit robust growth rate between 2024 and 2032 propelled by the rapid infrastructure development, and the expanding construction sector in the region. With the growing industrialization, the demand for copper tubes is surging, particularly in HVAC systems, plumbing, and electrical applications. The robust manufacturing and construction activities coupled with the rising emphasis on energy-efficient technologies are contributing to the increasing adoption of copper tubes in the region. Moreover, heavy investments in infrastructure modernization are expected to accelerate the regional market expansion.
Some of the leading copper tube market companies are Wieland Group, KME (KME Group), Mueller Industries, Inc., Kobe Steel, Ltd. (Kobe Copper Tube), and Cerro Flow Products, LLC. The increasing demand for copper tubes across construction, HVAC, and renewable energy applications is prompting these industry players to scale up their manufacturing capabilities to fulfill the rising requirements.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Extruded plastics industry 3600 synopsis, 2018 – 2032
2.2 Business trends
2.3 Product type trends
2.4 Finish type trends
2.5 Application trends
2.6 Regional trends
Chapter 3 Copper Tube Market Insights
3.1 Industry ecosystem analysis
3.2 Industry impact forces
3.3 Growth potential analysis
3.3.1 By product type
3.3.2 By finish type
3.3.3 By application
3.4 COVID- 19 impact analysis
3.5 Regulatory landscape
3.6 Pricing analysis, 2022
3.7 Technology landscape
3.8 Porter's analysis
3.9 PESTEL analysis
3.10 Impact of the Russia-Ukraine War
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
