A new report added to the online inventory of Wise Guys Reports (WGR) announces that the global chain pipe wrenches market is set to capture a compound annual growth rate (CAGR) of 3.1% between 2019 and 2024. In 2018, the market was valued at USD 670 million, it is expected to reach to USD 800 million in 2024.
Basically a chain pipe wrench is a type of adjustable pipe wrench that includes a forged steel handle which is attached by heavy sprocket chain. These tools are useful for all types of pipe fitting, from waterworks to plumbing and provide a safe torque. Pipe wrenches are available in many different sizes including 10, 12, 14, 18 inches etc so that the industrialists and business owners can choose from smaller and larger sizes.
The benefits offered by chain pipe wrenches are also considered as a prominent market driver. These pipe chain wrenches are used to hold or turn a smooth circular object thus making operational work easier. However, the report also features some of the challenges confronted by market leaders in the chain pipe wrenches market.
Global Chain Pipe Wrenches Market: Segmental Analysis
The segmental analysis of the market has been conducted based on type, application and region. The manufacturers that are covered in the report include RIDGID Tools, Wurth, Apex Tool Group, GEDORE Tool, Stanley Black＆Decker, Reed Manufacturing among many others
By type, the market has been segmented into Pipe Capacity ≤100 mm, Pipe Capacity ≤200 mm, Pipe Capacity ≤300 mm and others.
Based on application, the market has been segmented into Petrochemical Pipeline, Civil Pipeline and others.
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Global Chain Pipe Wrenches Market: Regional Analysis
On the basis of region, the market has been segmented into North America, Europe, Asia Pacific (APAC), Latin America, and Rest of the World (RoW). In North America, countries such as the U.S. and Canada are covered. In Europe, countries such as the UK and Germany are covered. In APAC, countries such as Japan, China and India are covered. In Latin America, countries such as Brazil, Mexico and Argentina are covered. In terms of revenue, North America holds a significant share of the global chain pipe wrenches market. The region emerges as one of the most lucrative industry verticals for global chain pipe wrenches during the forthcoming year. Faster adoption of the advanced technologies and urging needs of the customers has surged the demand of chain pipe wrenches across the world. APAC region is also touted as an attractive market for global chain pipe wrenches market. The report focuses on the Pipe Wrenches in global market including leading markets especially North America, Europe and Asia-Pacific, South America, Middle East and Africa.
The chain Pipe Wrenches market reports offers detailed understanding and data that can help business persons to known more about the growing sector and the future trends as well.
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