As per a market research by Technavio, increasing demand for copper tubes and pipes in HVAC segment as one of the primary factors that will trigger the growth of the copper pipes and tubes market size till 2022. The growth of the global HVAC systems market and the global copper pipes and tubes market is due to the extensive use of copper tubes and pipes in HVAC. Factors such as rise in the population levels, increase in new home sales, and increase in per capita income levels is influencing the growth of HVAC systems market. Residential and commercial buildings prefer copper pipes and tubes for HVAC installations. Copper pipes and tubes have several advantages like ease of handling and malleability, non-pyrogenic property and non-toxic in nature, and possess recycling properties. Our market research analysts estimate that in terms of volume, copper pipes and tubes market will grow at a CAGR close to 4% by 2022.
The growing demand for EVs and hybrid vehicles is one of the key trends in the copper pipes and tubes market. The increasing sales of copper pipes and tubes are due to the growing sales of EVs. EVs and hybrid vehicles use more copper as compared with conventional vehicles. In the recent times, government initiatives and subsidies are leading to the growing sales of EVs. EVs are gaining traction as they are considered sustainable. Moreover, EVs are durable and are characterized by low maintenance cost.
Updated On 26-Dec-2018
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