Welded Pipes Market to witness a 4.4% CAGR through 2027 – Report by Market Research Future (MRFR)
New York, June 16, 2021 (GLOBE NEWSWIRE) — Welded Pipes Market Overview: According to a comprehensive research report by Market Research Future (MRFR), “Welded Pipes Market – Information, by Material, by Type, by and by Region – Forecast till 2027” the market is expected achieve USD 180.8 billion by 2027, at a 4.4% CAGR.
Industry Trends
The rapid economic growth and rising pressure in urban areas to improve sanitation are directing governments to take up wastewater management projects. Additionally, diversified industrial application areas of welded pipes are expected to offer ample market opportunities.
Increasing advances in technologies and improving wastewater management solutions & manufacturing techniques offer significant opportunities. Besides, favorable government regulations for wastewater management and agricultural irrigation offer significant opportunities for industry players.
Conversely, volatility in price and the demand-supply gap in raw materials required for welded pipe production are key factors impeding market growth. Also, vast investments required for establishing pipe production and wastewater treatment plants challenge the growth of the market. Nevertheless, rising investments in drill pine in many regions would support the market growth throughout the assessment period.
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Dominant Key Players on Welded Pipes Market covered are:
- AK Tube LLC (US)
- AMETEK Inc. (US)
- ArcelorMittal (Luxembourg)
- Benteler International AG (Austria)
- Hi-Tech Metal & Tubes (India)
- Napsteel (Canada)
- TUBACEX S.A. (Spain),
- US Steel Tubular Products (Canada)
- Associated Tube Group (Canada)
- EVRAZ plc. (Russia)
- Marmon/Keystone Canada Inc. (US)
- Sandvik AB (Sweden)
- Tenaris SA (US)
- WELDED TUBE OF CANADA CORP. (US), and
- Welded Tubes, Inc. (US)., among others.
Browse In-depth Market Research Report (107 pages) on Welded Pipes Market
https://www.marketresearchfuture.com/reports/welded-pipes-market-7976
COVID-19 Analysis
Like most industries, the welded pipes industry also suffered unprecedented challenges presented by the COVID-19 pandemic. Industry players faced many problems, such as obtaining raw materials, attracting workers from quarantines, and delivering end products. Resultantly, the Welded pipes market experienced unexpected outages, whipsaw pricing, and wreaked havoc on the supply chains.
On the flip side, the pandemic created a substantial market demand, bringing forward various urban problems, such as densification and inadequate provision of water sanitation. However, the market is speedily getting back to normalcy with relaxing lockdown mandates in many countries.
Segments
The welded pipes market analysis is segmented into material, type, application, and regions. The material segment is sub-segmented into carbon steel, stainless steel, and alloy steel. Among these, the carbon steel segment holds the largest market share, owing to the safety, durability, corrosion resistance, cost-effectiveness, and high tensile strength of these pipes.
The stainless steel pipe segment accounts for the second-largest market share. The segment is projected to grow at the highest CAGR during the forecast period. The type segment is sub-segmented into process pipes, mechanical tubes, heat exchanger tubes, structural tubes, hydraulic & instrumentation tubes, and others.
Among these, the process pipes segment holds the largest market share, witnessing vast installations in the various processing industries, such as chemical, petroleum refineries, pharmaceutical, textile, paper, semiconductor, cryogenic plants, and other related processing plants and terminals. Besides, the growing process industries across the globe drive the segment rise.
The application is sub-segmented into oil & gas, power generation, infrastructure & construction, automotive, mechanical & engineering, and others. Among these, the oil & gas segment holds the largest market due to the high demand for oil and gas across the world. Besides, the high production and exports of oil and gas from the US and other countries such as Norway, Bahrain, the UAE, Saudi Arabia, Qatar, and Kuwait increase the demand for welded pipes during the forecast period.
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Regional Analysis
Asia-Pacific dominates the global welded pipes market. The largest market share attributes to the growth of the construction and automotive industry in the region. The region is currently focusing on smart city projects and infrastructure development, increasing the welded pipes market size. Also, Asia Pacific is one of the key regions for the automotive industry and held a significant share of global vehicle sales, bolsters the welded pipes market growth.
Additionally, improving economic conditions, alongside the rapid industrialization and urbanization in the region, supports market growth. China, India, and Japan contribute significantly to the growth of the market. Moreover, rapidly growing oil & gas, power generation, infrastructure & construction, automotive, and mechanical & engineering industries drive the welded pipes market share.
North America is the second-largest market globally in terms of the welded pipes market revenues. The early adoption of various advanced waste management solutions and the strong presence of notable industry players offering wide product ranges influence the welded pipes market share.
Besides, massive demand for hydraulic & instrumentation tubes from the mechanical & engineering sector drives the welded pipes market value. The US holds a large share in the regional market due to the leading welded pipes market vendors in these countries.
Europe accounts for a prominent welded pipes market share. Rising government and increasing smart city projects, and elevated investments by governments in the region propel market growth. Furthermore, rising uses of welded pipes in oil & gas, power generation, and automotive sectors in European countries such as France, Germany, the UK, and Norway create substantial market demand.
Competitive Analysis
The welded pipes market witnesses several strategic partnerships, alongside other strategies such as expansion, mergers & acquisitions, collaboration, and service & technology launches. Major industry players make vast investments in research and development activities and fostering their expansion plans.
For instance, on May 19, 2021, The UK’s Department of International Trade published an intended preliminary decision to extend UK steel import safeguards and tariff rates for three years from July 1 on certain product categories, including alloy hot rolled sheets & strips, and cold rolled sheets, and others.
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Segmentation of Market covered in the research:
Information, by Material (Carbon Steel, Stainless Steel and Alloy Steel), by Type (Process Pipes, Mechanical Tubes, Heat Exchanger Tubes, Structural Tubes, Hydraulic & Instrumentation Tubes and others), by Application (Oil & Gas, Power Generation, Infrastructure & Construction, Automotive, Mechanical & Engineering and others) and by Region (North America, Europe, Asia-Pacific and the Rest of the World)
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