HDFC Sec has a segment called Weekend Bytes. The topic this week is gas pipelines.

Two stocks have been mentioned: GSPL, for gas distribution, and Jaihind Projects, for pipe laying.

I wouldn't say "pipe manufacturing" is a crowed space.

It is actually a commodity sector and will always be.

Manufacturing a pipe doesn't need sophisticated technology.

That's why there are so many big and small pipe manufacturers.

Most of the pipe companies are trading at low PE multiples.

Welspun Gujarat - 12.34.
Man Industries - 7.16.
PSL - 9.83.
Jindal Saw - 11.03.
Ratnamani Metals - 6.50.

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There's a follow-up by the same person here:

Time to look at the Gas Pipeline Players

Rumour is that "Petroleum and Natural Gas Regulatory Board (PNGRB), is likely to be empowered".

The author feels Reliance (RIL) and GSPL may be beneficiaries as many stalled projects may get a move on.