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Flanges Market Size
- Report ID: GMI3443
- Published Date: Jul 2023
- Report Format: PDF
Flanges Market Size
Flanges Market size is anticipated to witness more than 5.5% CAGR between 2023 and 2032. The growing rate of power generation worldwide to cater to wide spectrum of industrial applications will boost the industry growth. As per Enerdata, the power generation growth in India rose 9.7% in 2022. The rising need for ensuring the safety and efficiency of power plant operations is driving the adoption of flanges to meet specific requirements, such as temperature resistance, pressure ratings, and material compatibility. The dire need to create strong as well as leak-proof connections for ensuring the safe and efficient transfer of fluids and gases within the power plants will prove favorable for the market expansion.
Flanges Market Growth Drivers & Restraints
The rising number of new food & beverage processing units will positively impact the market expansion. Stainless steel flanges are widely incorporated in the food & beverages sector to offer hygiene as they ensure the quality and safety of the products. In the contrary, the growing leakage issues associated with flanges and the strong presence of regulations by Environmental Protection Agency for fugitive emissions may limit the product uptake to some extent.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 5.5% |
| Historical Data for: | 2018 to 2022 |
| No. of Pages: | 378 |
| Tables, Charts & Figures: | 918 |
| Segments covered: | Material, Size, Shape, End-user and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Frequently Asked Questions (FAQ) :
Flanges Market Scope
