Oct 29, 2020, 09:47 ET
CLEVELAND, Oct. 29, 2020 /PRNewswire/ -- Climate change is increasing the urgency of wastewater infrastructure upgrades in the US as rising severe storm and hurricane activity continues to expose the flaws in many of these outdated systems, and the threat of sea level rise continues to grow. Going forward, efforts to adapt wastewater infrastructure to the realities of climate change are expected to provide opportunities for pipe suppliers.
For instance, many municipalities use combined storm and sanitary sewer systems that lead to sewage backups during heavy rainfall, an increasingly pressing problem in residential areas where suburban growth has outstripped the capacity of sewer lines and in storm-prone areas, particularly in Gulf Coast states such as Florida, but also in more northerly states such as Maryland and Virginia.
US Pipe Market to Expand 2.9% Annually Through 2024
Demand for pipe in the US is projected to climb 2.9% per year through 2024 to $47.4 billion, rebounding from a low 2019 base. Increases in water and sewer construction spending will be a major driver of growth. On the other hand, a weaker economic outlook will depress construction and oil and gas drilling activity for some time, constraining demand in these major applications for pipe.
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SOURCE The Freedonia Group
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