The market for metal expansion joints is mainly driven by the joints' capacity to tolerate extreme pressures and temperatures. Rising infrastructure development investments and technological developments are significant global metal expansion joint market opportunities. North America emerged as the largest market for the global metal expansion joints market, with a 36.92% share of the market revenue in 2021.
Newark, Oct. 03, 2022 (GLOBE NEWSWIRE) -- As per the report published by The Brainy Insights, the global metal expansion joints market is expected to grow from USD 1.10 billion in 2021 to USD 1.74 billion by 2030, at a CAGR of 5.28% during the forecast period 2022-2030.
Metal expansion joints are used to take thermal mobility of construction parts into account. To prevent buckling or damage under high loads, they allow for relative linear, angular, and lateral movement between two or more connected features. Metal expansion joints, also known as compensators, are components that account for relative movement and thermal expansion in pipes, containers, and machinery. Depending on the application, they are made of one or more tie rods, connections at both ends, and metal bellows. Axial, angular, and lateral expansion joints are the three fundamental types in which they are distinguished.
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A piece of metal sheeting designed and built as an expansion joint is used to hold parts together by absorbing vibrations, stress, and heat-induced expansions. Flanges, liners, coverings, collars, etc., are frequently found in them. The design is always unique to the application area and the working circumstances. The chemical, oil and gas, nuclear energy, and other complex sectors drive the metal expansion joint market. Since these sectors frequently deal with intricate procedures and substantial pipeline infrastructure, they are in high demand. These sectors are not showing any signs of slowing down, and there will always be a demand for products like these as long as there are intricate industrial processes.
To enhance their market position in the global metal expansion joints market, the key players are now focusing on adopting the strategies such as product innovations, mergers & acquisitions, recent developments, joint ventures, collaborations, and partnerships.
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Market Growth & Trends
Europe has held a substantial market share for metal expansion joints for the past few years, and it is expected that Europe, the Middle East, Africa (EMEA), Asia-Pacific (APAC) countries, and the Americas will continue to be the primary customers. There are significant participants in the market, such as KOMPA-FLEX, but as demand increases, additional businesses are emerging. It is also expected to be an increase in demand for products with unique designs. As a result, this market will become a more specialized niche within the metal industry. Numerous businesses expect to gain substantially from this, but most significantly, the economies of the nations that make these products will develop. With a booming economy, an expanding population, and increased demand for energy and gas, the steel industry and the expansion joint market have made a clear transition from standard items used in building and installing metallic structures and railway lines. The metal joints eroded due to deterioration brought on by time or poor construction have also accelerated the expansion. Because these products are utilized in high-stress applications, they are made to withstand. It is crucial to use only top-notch items, and it appears that, in the end, quality will overcome everything.
• The lateral expansion joints segment accounted for the largest market share of 30.25% in 2021 and is anticipated to dominate the market over the forecast period.
The type segment is divided into angular expansion joints, universal expansion joints, axial expansion joints, and lateral expansion joints. The lateral expansion joints segment accounted for the largest market share of 30.25% in 2021 and is anticipated to dominate the market over the forecast period. It has a relatively simple design. Its movements on a plane are absorbed in all directions despite the relatively modest fixed point load. It decreases fixed point stress compared to axial expansion joints. Standard guidelines are adequate for such types. Also, pressure testing is feasible without fixed locations.
• The power generation industry segment is anticipated to grow at the highest CAGR of 7.36% during the projected period.
The application segment is divided into the power generation industry, petrochemical industry, heavy industry, and others. The power generation industry segment is anticipated to grow at the highest CAGR of 7.36% during the projected period. In the power generation industry, metal expansion joints join pipes, equipment, etc. Metal expansion joints protect these parts from harm by vibrations, thermal strains, and mechanical stress. Additionally, they can absorb motions between two pieces, allowing a power plant to run more efficiently by preventing system components from being damaged and allowing the plant to function without interruption.
Regional Segment Analysis of the Metal Expansion Joints Market
• North America (U.S., Canada, Mexico)
• Europe (Germany, France, U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)
Among all regions, the demand from petrochemical and power generation plants, which is pushing its utilization throughout the European area, is predicted to increase, leading to a CAGR of 6.53% for the metal expansion joint market in Europe during the forecast period. As the number of industrial centers in nations like Germany increases over time, more applications for metal expansion joints will result in more usage of these components, further boosting demand for these products.
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Key players operating in the global metal expansion joints market are:
• Senior Flexonics
• Witzenmann GmbH
• Gongyi Runda Pipeline
• BIKAR-METALLE GmbH
• Triad Bellows
• U.S. Bellows
• American BOA
• Shandong Hnegtong Expansion Joint Manufacturing
• Beijing Hangtian Taizhou Bellows
This study forecasts revenue at global, regional, and country levels from 2022 to 2030. Brainy Insights has segmented the global metal expansion joints market based on the below-mentioned segments:
Global Metal Expansion Joints Market by Type:
• Angular Expansion Joints
• Universal Expansion Joints
• Axial Expansion Joints
• Lateral Expansion Joints
Global Metal Expansion Joints Market by Application:
• Power Generation Industry
• Petrochemical Industry
• Heavy Industry
About the report:
The global metal expansion joints market is analyzed based on value (USD Billion). All the segments have been analyzed worldwide, regional and country basis. The study includes the analysis of more than 30 countries for each part. The report analyzes driving factors, opportunities, restraints, and challenges for gaining critical insight into the market. The study includes porter's five forces model, attractiveness analysis, raw material analysis, supply, and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.
About The Brainy Insights:
The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients' objectives of high-quality output within a short span of time. We provide both customized (clients' specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients' requirement whether they are looking to expand or planning to launch a new product in the global market.