Global Flanges Market: Overview
A flange refers to an object that connects pumps, valves, pipes and other equipment to create a piping system. It also offers easy access for various purposes, such as modification, inspection, or cleaning. Flanges are generally either screwed or welded. Flanged joints are created by bolting together two flanges with a gasket placed between them so as to provide a seal.
Transparency Market Research has successfully elucidated all the facets of global flanges market in its report on the same. Information pertaining to the market drivers, trends, restraints, key players, and forecasts has been provided in this study. Efforts are made to explore every possible opportunity available in the said market. The data shared in this report is sure to assist businesses that are operating the market.
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Global Flanges Market: Notable Developments
Companies are taking up various strategies to differentiate themselves from other players and gain upper-hand in the global flanges market.
- AF Global has amalgamated its operations with Special Flanges in Italy. The amalgamation of these two companies aims to improve capacity and diversify the product portfolio of AF Global. Special Flanges have expanded their portfolio and forgings of flanges product portfolio.
Outokumpu Armetal Stainless Pipe Company Ltd, Texas Flange, Mass Global Group, and Coastal Flange Inc. are few of the notable companies that are operating in the global flanges market and have been profiled in this study.
Global Flanges Market: Key Trends
The global flanges market is prophesized to manifest the below-mentioned market trends, restraints and opportunities:
Technological Advancement and Awareness to Escalate Market Demand
Reinforced by flourishing oil & gas industry together with rising power generation activities all over the world, global flanges market is poised to attain substantial growth in the years to come. Oil & gas industry is amongst the leading users of flanges for pipelines and refineries applications. Increasing consumption of oil in Asian and North America countries make them the major contributor towards augmented growth of the global flanges market. A robust expansion and growth of the petrochemical industry in the U.S. fuelled by increasing exploration and production activities of crude oil in the country. These factors are crucial in influencing the demand for crude oil in the region. Additionally, upgrades, replacements, and refurbishments in the refineries for processing lighter crudes will further fuel growth of the industry.
With the rise in the activities of power generation, global flanges market has been taking strides towards the path of increasing growth in the past few years. Besides, solar energy and hydroelectricity are the two major factors that are behind the continuous growth of the power generation industry.
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Despite the application of flanges in a large number of industries, there are many reasons that are curbing the growth of global flanges market. Leakage is the primary concern that is associated with flanges. This generally happens when the load on the gasket falls below its minimum seal pressure. Flanges are needed to be leak free and to preserve a leak rate of 500 PPM or below as per the regulations of Environmental Protection Agency for fugitive emissions.
Global Flanges Market: Geographical Analysis
In terms of geography, global Flanges market is segregated into the regions of North America, Europe, Middle East and Africa, Latin America, and Asia-Pacific. Propelled by the developing countries in the region, such as China and India, Asia pacific has come up as the leading market for flanges recently. Regional domination is ascribed to the existence of a large number of market players in these countries.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
2. Insights and Tools
The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
3. Actionable Results
The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
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