India Stainless Steel Plumbing Pipes & Fittings Market Size
| Study Period | 2019 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2019 - 2022 |
| CAGR | > 4.50 % |
| Market Concentration | Medium |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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India Stainless Steel Plumbing Pipes & Fittings Market Analysis
India's stainless steel plumbing pipes & fittings market is projected to register a CAGR of over 4.5% during the forecast period.
The COVID-19 pandemic impacted India's stainless steel plumbing pipes and fittings sector. The government's lockdown and the resulting economic slump have reduced demand for these products. However, the market recovered in 2021 when lockdowns were eased and construction activity increased. Furthermore, due to the increased emphasis on hygiene and sanitation, the market will likely see an increase in demand for stainless steel plumbing pipes and fittings. The government's push for "Make in India" and "Atmanirbhar Bharat" programs are also expected to increase demand for these products.
- Over the short term, the expanding residential and non-residential industries will boost market expansion.
- However, the increased use of polymer-based replacements such as PVC is expected to hinder market expansion.
- Nevertheless, expanding regional infrastructure projects will aid future market expansion.
India Stainless Steel Plumbing Pipes & Fittings Market Trends
This section covers the major market trends shaping the India Stainless Steel Plumbing Pipes & Fittings Market according to our research experts:
Growing Demand for Stainless-Steel Welded Pipes
- In India, 12% of the stainless steel is used in construction and infrastructure.
- Welded stainless steel pipes are the least expensive and most readily accessible of the three varieties. Because welded stainless-steel pipes are made from a flat sheet of steel, their wall thickness is more uniform than seamless pipes. Because the extrusion process is no longer used, the surface of a welded pipe can be smoother than that of a seamless tube. Furthermore, the procedure is simplified. As a result, the procurement lead time is significantly reduced.
- Welded stainless steel pipes have much better production and quality assurance processes. As a result, as long as the welded pipe's specified temperature and pressure limits are not exceeded, it outperforms seamless pipes in various applications.
- Welded stainless steel pipes are used to build buildings, bridges, and other structures. They are also utilized to make industrial equipment like tanks, boilers, and heat exchangers. Stainless steel pipes are also used in liquid and gas transportation, such as water supply lines and natural gas pipelines.
- The growing economic strength and high investments by the high-income category are expected to increase the demand for luxury homes in India. Thus, stainless-steel plumbing pipes and fittings will likely benefit the market.
- In 2021, 1,214 luxury residential properties were sold in Mumbai, accounting for INR 20,255 crore (USD 2,774.9 million). Homebuyers such as startup founders, leading CEOs, and corporate families have been spending between INR 50 crore (USD 6.75 million) to INR 1,000 crore (USD 135 million) on properties like a luxury 3 BHK flat in Mumbai.
- Considering all the factors mentioned above, the increase in demand for welded stainless steel pipes is anticipated to expand during the forecast period.
Non-Residential Industry Anticipated to Hold a Major Share
- Non-residential demand for stainless steel plumbing pipes and fittings gradually increased in recent years. The need for plumbing fixtures in commercial and industrial structures, such as office buildings, warehouses, and factories, is expanding. The demand for stainless steel plumbing pipes and fittings is driven by their better corrosion resistance, durability, and aesthetic appeal.
- In one year, the top seven cities in India's real estate market saw almost 1,700 acres of land deals. From 2017 to 21, foreign investments in the commercial real estate industry totaled USD 10.3 billion. Developers anticipate that demand for office space in Special Economic Zone (SEZ) will skyrocket in February 2022 following the repeal of the existing SEZs laws.
- According to Savills India, real estate demand for data centers is expected to increase by 15-18 million sq ft by 2025. The top three cities Mumbai 39%, NCR-Delhi 19%, and Bengaluru 19%, attracted 77% of the total investments recorded in the third quarter of 2021.
- According to the India Brand Equity Foundation, office absorption in the top seven cities was 27.20 million sq ft in the first half of 2022. Increased investments in the commercial space were noted in 2021-22. For example, Chintels Group stated in October 2021 that it would invest USD 53.47 million to create a new commercial complex in Gurugram covering 9.28 lakh sq ft.
- Overall, it is expected that the rising non-residential demand will drive the stainless steel plumbing pipes & fittings market throughout the projected period.
India Stainless Steel Plumbing Pipes & Fittings Industry Overview
The market for stainless-steel plumbing pipes and fittings in India is semi-consolidated, with significant players holding a stronger market position. Some of the major players in the market include Maharashtra Seamless Ltd, Jindal Stainless Ltd, Nippon Steel, APL Apollo, and Geberit Plumbing Technology India Private Limited, among others.
India Stainless Steel Plumbing Pipes & Fittings Market Leaders
Maharashtra Seamless Ltd
Jindal Stainless Ltd
Nippon Steel
APL Apollo
Geberit Plumbing Technology India Private Limited
*Disclaimer: Major Players sorted in no particular order
India Stainless Steel Plumbing Pipes & Fittings Market News
- April 2022: Jindal Stainless Limited (JSL) planned to expand the capacity of the steel plant to 25.2 MTPA at Angul, Odhisha, by 2030. This capacity expansion is expected to increase JSPL's investment in Odisha to more than INR 1,25,000 crore (USD 15,875 million) from INR 45,000 crore (USD 5,715 million).
- February 2022: Maharashtra Seamless Ltd approved the acquisition of the remaining 41.82% stake of United Seamless Tubular Private Limited. This acquisition will help Maharashtra Seamless Ltd. consolidate its seamless pipes & tubes business.
India Stainless Steel Plumbing Pipes & Fittings Market Report - Table of Contents
1. INTRODUCTION
1.1 Study Assumptions
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Drivers
4.1.1 Growing Residential and Non-residential Industry
4.1.2 High Temperature and Corrosion Resistance Compared to Available Counterparts
4.2 Restraints
4.2.1 Increasing Polymer-based Substitutes such as PVC
4.3 Industry Value-Chain Analysis
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products and Services
4.4.5 Degree of Competition
5. MARKET SEGMENTATION (Market Size in Value)
5.1 Type
5.1.1 Seamless
5.1.2 Welded
5.1.3 Fabricated
5.2 Market Structure
5.2.1 Organized
5.2.2 Unorganized
5.3 End-user Industry
5.3.1 Residential
5.3.2 Non-residential
5.4 Sales Channel
5.4.1 Retail
5.4.2 E-commerce
5.4.3 Direct
6. COMPETITIVE LANDSCAPE
6.1 Mergers, Acquisitions, Joint Ventures, Collaborations, and Agreements
6.2 Market Share (%)**/Ranking Analysis
6.3 Strategies Adopted by Leading Players
6.4 Company Profiles
6.4.1 APL Apollo
6.4.2 Geberit Plumbing Technology India Private Limited
6.4.3 Maharashtra Seamless Ltd
6.4.4 Nippon Steel Corporation
6.4.5 Ratnamani Metals & Tubes Limited
6.4.6 Sachiya Steel International
6.4.7 Steel Tubes India
6.4.8 Umiyatubes Private Limited
6.4.9 Viega India Private Limited
6.4.10 Vishal Steel India
6.4.11 Jindal Stainless Ltd
- *List Not Exhaustive
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
7.1 Growing Infrastructural Projects in Emerging Countries
India Stainless Steel Plumbing Pipes & Fittings Industry Segmentation
Stainless steel plumbing pipes are made from steel alloys containing iron, nickel, chromium, and others primarily used in different plumbing applications to transport fluid. Stainless steel pipe fitting is a part that connects a pipe to another pipe. Its primary purpose is to connect, control, and change the direction, especially in bent pipes, and split, seal, and support various parts and components in the pipeline system. These fittings include pipe elbows, tee, stub end, pipe bending, end caps, reducer, pipe cross, saddle previously, and many others. The India stainless-steel plumbing pipes and fittings market is segmented by type, market structure, end-user industry, and sales channel. The market is segmented by type: seamless, welded, and fabricated. By market structure, the market is segmented into organized and unorganized. By end-user industry, the market is segmented into residential and non-residential. By sales channel, the market is segmented into retail, e-commerce, and direct. The report also covers the market size, and forecasts for each segment have been made based on value (USD Million).
| Type | |
| Seamless | |
| Welded | |
| Fabricated |
| Market Structure | |
| Organized | |
| Unorganized |
| End-user Industry | |
| Residential | |
| Non-residential |
| Sales Channel | |
| Retail | |
| E-commerce | |
| Direct |
India Stainless Steel Plumbing Pipes & Fittings Market Research FAQs
What is the current India Stainless Steel Plumbing Pipes & Fittings Market size?
The India Stainless Steel Plumbing Pipes & Fittings Market is projected to register a CAGR of greater than 4.5% during the forecast period (2024-2029)
Who are the key players in India Stainless Steel Plumbing Pipes & Fittings Market?
Maharashtra Seamless Ltd, Jindal Stainless Ltd, Nippon Steel, APL Apollo and Geberit Plumbing Technology India Private Limited are the major companies operating in the India Stainless Steel Plumbing Pipes & Fittings Market.
What years does this India Stainless Steel Plumbing Pipes & Fittings Market cover?
The report covers the India Stainless Steel Plumbing Pipes & Fittings Market historical market size for years: 2019, 2020, 2021, 2022 and 2023. The report also forecasts the India Stainless Steel Plumbing Pipes & Fittings Market size for years: 2024, 2025, 2026, 2027, 2028 and 2029.
India Stainless Steel Plumbing Pipes & Fittings Industry Report
Statistics for the 2024 India Stainless Steel Plumbing Pipes & Fittings market share, size and revenue growth rate, created by Mordor Intelligence™ Industry Reports. India Stainless Steel Plumbing Pipes & Fittings analysis includes a market forecast outlook to 2029 and historical overview. Get a sample of this industry analysis as a free report PDF download.
