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Tapping Sleeves Market is Expected to Grow at a CAGR of 7.21% from 2021 to 2028

The global tapping sleeves market is projected to reach USD 3.09 billion by 2028, at a CAGR of 7.21% from 2021 to 2028.

NEWARK, UNITED STATES, NEW JERSEY, October 26, 2021 /EINPresswire.com/ -- As per the report published by The Brainy Insights, the global tapping sleeves market is expected to grow from USD 1.77 billion in 2020 to USD 3.09 billion by 2028, at a CAGR of 7.21% during the forecast period 2021-2028. North America region is anticipated to continue its dominant share in the tapping sleeves market, with around 32% of the total market share in 2020. The U.S. has more than 70 percent market share in the tapping sleeves market in the North American region. This was because pipeline demand for water and sewage services from the municipalities is growing in the U.S.

Some of the major companies in the global tapping sleeves market are Everett J. Prescott, Inc., AMERICAN (American Cast Iron Pipe Company), JCM Industries Inc., Mueller Water Products, Romac Industries, Inc., Petersen Products Co., PowerSeal Corporation, Robar Industries Ltd., The Ford Meter Box Company, Inc. and UTS Engineering among others.

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The material segment is divided into steel, ductile iron and cast iron. The steel segment dominated the market and held the largest market share of around 48% in 2020 because steel offers extra protection for wider diameter pipes and is often required because of significant applications needing pipeline reinforcing. The inches segment includes 1-10, 11-20, 21-30, 31-40 and above 40 inches. The 21-30 inches segment is anticipated to grow at the highest CAGR of around 8.2% over the forecast period. As natural gas consumption improves, pipelines with smaller diameters are gradually installed, contributing to higher sales of tapping sleeves. In distribution pipeline networks comprising of gathering systems, low-pressure and small-diameter pipes are used. These factors are estimated to push the growth of 21-30 inch range tapping sleeves.

The fluid motion segment includes liquid, gas and oil. The liquid segment is anticipated to grow at the highest CAGR of around 8.0% over the forecast period. When population growth rises, coupled with intense water stress, it affects the freshwater supply. Water infrastructure is now projected to expand more, and an increasing need for water has led to the maintenance of the ageing water network. In the tapping sleeves market, this factor is mainly responsible for the rapid growth of the liquid segment. The application segment includes drinking water distribution, wastewater systems, gas solution and petroleum solution. The drinking water distribution segment is estimated to expand at the highest CAGR of around 8.6% over the forecast period. This is because the pipeline water and wastewater systems in the U.S. municipality are continuously rebounding. Mostly demand for pipes comes from the need to repair and install drinking systems.

This rise in the global tapping sleeves market value may be due to the dramatic growth in population levels worldwide resulting in enhanced demand for fluid transport systems. On the other hand, the concentration of local players from the unorganized markets, particularly in Asian countries, is one of the major challenges affecting this market.

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