North America Flanges Market Size and Forecast (2021 - 2031), Regional Share, Trend, and Growth Opportunity Analysis Report Coverage: By Type (Weld Neck, Slip-On, Socket Weld, Lap Joint, Blind, and Others), Material (Stainless Steel, Carbon Steel, Alloy S
Description
The North America flanges market is projected to grow significantly, reaching an estimated US$ 1,924.09 million by 2031, up from US$ 1,403.07 million in 2023. This growth represents a compound annual growth rate (CAGR) of 4.0% from 2023 to 2031.
Executive Summary and Market Analysis
The primary contributors to the flanges market in North America include the United States, Canada, and Mexico. In 2022, the United States led in natural gas production capacity, followed closely by Canada and Mexico. Notable natural gas fields in the region include Ixachi, Coulomb Phase 2, Quesqui, Nejo (IEPC), Leo, May, Koban, and Powerball. The increasing number of government initiatives and funding aimed at enhancing gas pipeline infrastructure is expected to significantly boost the flanges market during the forecast period. For instance, in July 2023, the U.S. Department of the Interior allocated approximately US$ 152 million under the Bipartisan Infrastructure Law to improve access to clean and reliable drinking water in various communities across the western United States. This initiative, which includes projects in California, Colorado, and Washington, aims to enhance water storage capacity over a vast area of 1.7 million acre-feet. Such investments in water and wastewater management infrastructure are anticipated to drive the growth of the flanges market in North America.
Additionally, in 2023, American Pacific Mining Corp announced plans to test the Christmas or Red Creek Target area as part of its mountain drilling program. The cyclic redundancy check (CRC) Target is one of twelve known VMS assignments at the Palmer Project, highlighting the growing focus on mineral exploration, which is also expected to positively impact the flanges market.
Strategic Insights
Market Segmentation Analysis
The North America flanges market can be segmented based on type, material, and industry.
The development of new oil and gas rigs and the discovery of offshore oil fields globally are contributing to the growth of the flanges market. Investments in oil and gas pipeline infrastructure, as well as the refurbishment of existing rigs, are on the rise. For example, Enbridge Inc., a leading pipeline company in Canada, has announced plans to construct and operate oil and gas pipelines in the U.S. Gulf of Mexico to support BP's latest oil project, with an estimated cost of around $700 million for the Kaskida development, which was approved by BP in early 2024. Furthermore, in 2023, the Biden administration granted Trinidad and Tobago permission to exploit a significant gas field located in Venezuelan territorial waters. Such investments in oil and gas infrastructure development are driving the demand for flanges as part of the expanding pipeline networks.
Country Insights
The North America flanges market is primarily composed of the U.S., Canada, and Mexico, with the U.S. holding the largest market share in 2023. The U.S. is one of the world's largest crude oil producers, operating approximately 8,650 oil rigs that supply both domestic and export markets. The number of offshore rigs has increased from around 436 in 2020 to 721 in 2022, which is expected to positively influence the demand for flanges in the U.S. The rising demand for natural gas has further accelerated gas production operations, leading to growth in gas pipeline infrastructure and, consequently, an increased application of flanges.
In the U.S., the demand for water treatment systems is driven by various sectors, including agricultural, commercial, municipal, industrial, and institutional users. Stringent government regulations regarding wastewater treatment, the rise in waterborne diseases, and advancements in portable water treatment technologies are key factors propelling the growth of water treatment systems, which in turn boosts the flanges market. Additionally, the emphasis on reducing water pollution, the need for water retrieval and reuse technologies, and the growth of manufacturing plants are further driving the demand for flanges in the U.S.
Company Profiles
Key players in the North America flanges market include AFG Holdings Inc., Armetal Stainless Pipe, Coastal Flange, Inc., FLANGE WORKS BEBITZ GMBH, General Flange & Forge LLC, Kerkau Manufacturing Inc., KME Germany GmbH, London Fittings & Flanges Ltd., Metalfar Prodotti Industriali S.p.A., and Texas Flange, among others. These companies are employing various strategies such as expansion, product innovation, and mergers and acquisitions to enhance their product offerings and increase market share.
Executive Summary and Market Analysis
The primary contributors to the flanges market in North America include the United States, Canada, and Mexico. In 2022, the United States led in natural gas production capacity, followed closely by Canada and Mexico. Notable natural gas fields in the region include Ixachi, Coulomb Phase 2, Quesqui, Nejo (IEPC), Leo, May, Koban, and Powerball. The increasing number of government initiatives and funding aimed at enhancing gas pipeline infrastructure is expected to significantly boost the flanges market during the forecast period. For instance, in July 2023, the U.S. Department of the Interior allocated approximately US$ 152 million under the Bipartisan Infrastructure Law to improve access to clean and reliable drinking water in various communities across the western United States. This initiative, which includes projects in California, Colorado, and Washington, aims to enhance water storage capacity over a vast area of 1.7 million acre-feet. Such investments in water and wastewater management infrastructure are anticipated to drive the growth of the flanges market in North America.
Additionally, in 2023, American Pacific Mining Corp announced plans to test the Christmas or Red Creek Target area as part of its mountain drilling program. The cyclic redundancy check (CRC) Target is one of twelve known VMS assignments at the Palmer Project, highlighting the growing focus on mineral exploration, which is also expected to positively impact the flanges market.
Strategic Insights
Market Segmentation Analysis
The North America flanges market can be segmented based on type, material, and industry.
- Type: The market is divided into several types of flanges, including weld neck, slip-on, socket weld, lap joint, blind, and others. In 2023, weld neck flanges held the largest market share.
- Material: The flanges market is categorized by material into stainless steel, carbon steel, alloy steel, and others. Alloy steel flanges dominated the market in 2023.
- Industry: The market is segmented into various industries such as oil and gas, chemical and petrochemical, power generation, manufacturing, water management, food and beverages, and others. The oil and gas sector accounted for the largest share of the market in 2023.
The development of new oil and gas rigs and the discovery of offshore oil fields globally are contributing to the growth of the flanges market. Investments in oil and gas pipeline infrastructure, as well as the refurbishment of existing rigs, are on the rise. For example, Enbridge Inc., a leading pipeline company in Canada, has announced plans to construct and operate oil and gas pipelines in the U.S. Gulf of Mexico to support BP's latest oil project, with an estimated cost of around $700 million for the Kaskida development, which was approved by BP in early 2024. Furthermore, in 2023, the Biden administration granted Trinidad and Tobago permission to exploit a significant gas field located in Venezuelan territorial waters. Such investments in oil and gas infrastructure development are driving the demand for flanges as part of the expanding pipeline networks.
Country Insights
The North America flanges market is primarily composed of the U.S., Canada, and Mexico, with the U.S. holding the largest market share in 2023. The U.S. is one of the world's largest crude oil producers, operating approximately 8,650 oil rigs that supply both domestic and export markets. The number of offshore rigs has increased from around 436 in 2020 to 721 in 2022, which is expected to positively influence the demand for flanges in the U.S. The rising demand for natural gas has further accelerated gas production operations, leading to growth in gas pipeline infrastructure and, consequently, an increased application of flanges.
In the U.S., the demand for water treatment systems is driven by various sectors, including agricultural, commercial, municipal, industrial, and institutional users. Stringent government regulations regarding wastewater treatment, the rise in waterborne diseases, and advancements in portable water treatment technologies are key factors propelling the growth of water treatment systems, which in turn boosts the flanges market. Additionally, the emphasis on reducing water pollution, the need for water retrieval and reuse technologies, and the growth of manufacturing plants are further driving the demand for flanges in the U.S.
Company Profiles
Key players in the North America flanges market include AFG Holdings Inc., Armetal Stainless Pipe, Coastal Flange, Inc., FLANGE WORKS BEBITZ GMBH, General Flange & Forge LLC, Kerkau Manufacturing Inc., KME Germany GmbH, London Fittings & Flanges Ltd., Metalfar Prodotti Industriali S.p.A., and Texas Flange, among others. These companies are employing various strategies such as expansion, product innovation, and mergers and acquisitions to enhance their product offerings and increase market share.
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