Roll Groovers Market size was valued at USD 142.06 billion in 2024 and is set to cross USD 1.13 trillion by the end of 2037, expanding at more than 17.3% CAGR during the forecast period i.e., between 2025-2037. In the year 2025, the industry size of roll groovers is estimated at USD 161.72 billion.
A rising number of sectors are placing more emphasis on sustainable practices due to growing environmental concerns. Components can be joined using roll grooving instead of welding or other potentially dangerous or resource-intensive joining methods. The eco-friendly characteristics of roll grooving align with the increased focus on sustainability, driving its adoption and positively impacting market revenue growth.
Furthermore, the oil & gas industry plays a significant role in driving the demand for roll groovers. As oil and gas exploration and production activities expand, there is a need for efficient and reliable pipe-joining solutions. Roll groovers offer a cost-effective and time-saving method for connecting pipes in oil and gas pipelines, contributing to the growth of the roll groovers market.
Growth Drivers
Challenges
|
Base Year |
2024 |
|
Forecast Year |
2025-2037 |
|
CAGR |
17.3% |
|
Base Year Market Size (2024) |
USD 142.06 billion |
|
Forecast Year Market Size (2037) |
USD 1.13 trillion |
|
Regional Scope |
|
Type (Hydraulic, Manual, Electric)
Roll groovers market for the electric type segment is poised to hold the largest share of 44% during the projected period. When it comes to production and efficiency, electric roll groovers are superior to manual or hydraulic ones. They are driven by electric motors, which operate steadily and dependably and cut down on the time and effort needed for pipe grooving. Additionally, technological developments have resulted in the creation of electric roll groovers with sophisticated features and functionalities. These features, which include digital controls, pipe-feeding systems that operate automatically, and programmable settings, improve the accuracy and user-friendliness of the grooving process. In addition, the increasing inclination towards automation and the integration of sophisticated gear in production procedures have propelled the expansion of electric roll groovers. Electric roll groovers are a desirable option because industries are looking for automated solutions to increase productivity and decrease manual labor. Therefore, altogether these factors are contributing to the growth of the segment.
Application (Construction, Oil & Gas, Water & Wastewater, Chemical & Petrochemical, Power Generation, Machinery Processing, Pipe Industry)
Construction segment in the roll groovers market is anticipated to hold a share of 30% during the projected period. Roll groovers offer a cost-effective and efficient solution for creating grooves in pipes, which is essential for joining pipes in construction projects. The ability to quickly and accurately groove pipes saves time and labor costs, making roll groovers a preferred choice in the construction industry. Also, the construction industry places a strong emphasis on safety and reliability. Roll groovers ensure secure and leak-free pipe connections, which are crucial for the integrity of plumbing, HVAC, and fire protection systems in buildings. Furthermore, the construction industry is constantly evolving, with new technologies and materials being introduced. Therefore, all these factors are escalating the growth of the construction industry market.
Our in-depth analysis of the global roll groovers market includes the following segments:
|
Type |
|
|
Application |
|
APAC Market Forecast
Roll groovers market in Asia Pacific is expected to hold the largest share of 35% by the end of 2037. The region's rapid urbanization and industrialization, which have boosted building projects, are to blame for the growth. These instruments are necessary for cutting grooves in pipes and enabling dependable and effective pipe connections in fire safety, HVAC, and plumbing systems. Moreover, more money will be spent on initiatives related to energy, water management, and transportation infrastructure development. Roll groover use is also being fueled by the region's construction industry's adoption of cutting-edge methods and technologies. In addition, standards and regulations are being implemented by governments in the Asia-Pacific area to improve the efficiency and safety of construction projects.
North American Market Statistics
North American roll groovers market is anticipated to account for a share of 27% during the forecast period. The region's market is developing as a result of increased funding for infrastructure development, which includes projects including utilities, commercial buildings, and transportation. In North America, there is also a lot of emphasis on remodeling and retrofitting already-existing buildings and structures, which is propelling the market's expansion. In addition, North America has stringent laws and guidelines governing the security and caliber of pipe connections. Therefore, all these factors are contributing to the market growth of roll groovers in the region.
Author Credits: Richa Gupta
Copyright © 2024 Research Nester. All Rights Reserved
FREE Sample Copy includes market overview, growth trends, statistical charts & tables, forecast estimates, and much more.
Have questions before ordering this report?