CLEVELAND, Oct. 29, 2020 /PRNewswire/ -- Climate change is increasing the urgency of wastewater infrastructure upgrades in the US as rising severe storm and hurricane activity continues to expose the flaws in many of these outdated systems, and the threat of sea level rise continues to grow. Going forward, efforts to adapt wastewater infrastructure to the realities of climate change are expected to provide opportunities for pipe suppliers.
For instance, many municipalities use combined storm and sanitary sewer systems that lead to sewage backups during heavy rainfall, an increasingly pressing problem in residential areas where suburban growth has outstripped the capacity of sewer lines and in storm-prone areas, particularly in Gulf Coast states such as Florida, but also in more northerly states such as Maryland and Virginia.
Demand for pipe in the US is projected to climb 2.9% per year through 2024 to $47.4 billion, rebounding from a low 2019 base. Increases in water and sewer construction spending will be a major driver of growth. On the other hand, a weaker economic outlook will depress construction and oil and gas drilling activity for some time, constraining demand in these major applications for pipe.
Want to Learn More?
Pipe Products & Markets, Plastic Pipe, and Drain, Waste, & Vent Pipe are now available from The Freedonia Group. These studies analyze the US pipe industry. Historical data (2009, 2014, and 2019) and forecasts for the years 2024 and 2029 are provided by material and market.
About The Freedonia Group – The Freedonia Group, a division of MarketResearch.com, is a leading international industrial research company publishing more than 100 studies annually. Since 1985 we have provided research to customers ranging in size from global conglomerates to one-person consulting firms. More than 90% of the industrial companies in the Fortune 500 use Freedonia Group research to help with their strategic planning. Each study includes product and market analyses and forecasts, in-depth discussions of important industry trends, and market share information. Studies can be purchased at www.freedoniagroup.com and are also available on www.marketresearch.com and www.profound.com.
View original content to download multimedia:http://www.prnewswire.com/news-releases/how-climate-change-factors-into-the-forecast-for-the-us-pipe-market-301163016.html
SOURCE The Freedonia Group