The global steel pipe market is
segmented by technology into welded steel pipes, ERW steel pipes and galvanized
steel pipes. ERW steel pipes segment among other segments is likely to witness
substantial growth over the forecast period. Growing adoption of ERW (Electric
Resistance Welded) steel pipes to transport liquid, such as fuel, gas is
expected to drive the growth of this segment over the forecast period. Additionally,
dean accurate surface of steel pipes is a key reason which makes them more adoptable
in applications such as water pipelines, agriculture, gas pipe lines and in
transportation of LPG and other toxic gases.
Global steel
pipe market is expected to register a 3.6% CAGR over the
forecast period. Moreover, the global steel pipe market is projected to reach
at a valuation of USD 79.9 Million by the end of 2024. The market is primarily
driven by a number of factors such as rapid industrialization and increasing
constructional activities across the globe. Further, growing use of steel pipes
to deliver high flammable oil & gases in various industries including oil
& gas industries is predicted to drive the growth of market in upcoming
years.
The stainless steel segment by material
type is expected to emerge as fastest growing market among other segments of
global steel pipes market. Stainless steel pipes offer numerous advantages over
other material pipes such as high resistance to rust, high durability and more
hygienic in terms of transporting water. Further, increasing adoption of
stainless steel pipes in industries where corrosion resistance is a major concern
is expected to escalate the growth of this segment over the forecast period.
Wide Scale
Applications
Steel pipe finds a number of applications in various
industries such as power plants, chemical industries, construction industries,
and others. Further, growing use of steel pipes in agriculture and irrigation
industries for water mains, sewerage systems, industrial water lines and plant
piping is expected to encourage the growth of global steel pipes market in near
future. Additionally, use of steel pipes in fire sprinkler system is also a
well know application of steel pipes which is augmenting the expansion of steel
pipes market across all regions.
Rising Construction
Activities
Rapid urbanization and
industrialization across the globe, especially in developing countries are
augmenting construction activities. Further, increasing use of steel pipes in
construction industries is augmenting the growth of global steel pipes market
in upcoming years.
However, presence of other
alternatives such as plastic pipes and comparatively high price of steel pipes
are likely to inhibit the growth of the steel pipe market in the near future.
The
report titled “Global Steel pipe Market: Global Historical Growth (2012-2016)
& Future Outlook (2017-2024) Demand Analysis & Opportunity Evaluation” delivers detailed overview of
the global steel pipe market in terms of market segmentation by technology, by
material, by application, by type and by region.
Further,
for the in-depth analysis, the report encompasses the industry growth drivers,
restraints, supply and demand risk, market attractiveness, BPS analysis and
Porter’s five force model.
This report also provides the
existing competitive scenario of some of the key players of the global steel
pipe market which includes company profiling of ArcelorMittal,
Nippon Steel & Sumitomo Metal Corporation, Hebei Iron & Steel Group,
Baosteel, Wuhan Iron & Steel Group, Posco, Jiangsu Shagang, Tata Steel
Group, Hyundai Steel Company, and JFE Steel Corporation. The profiling
enfolds key information of the companies which encompasses business overview,
products and services, key financials and recent news and developments. On the
whole, the report depicts detailed overview of the global
steel pipe market that will help industry consultants, equipment
manufacturers, existing players searching for expansion opportunities, new
players searching possibilities and other stakeholders to align their market
centric strategies according to the ongoing and expected trends in the future.
About Research Nester
Research Nester is a leading service provider for
strategic market research and consulting. We aim to provide unbiased,
unparalleled market insights and industry analysis to help industries,
conglomerates and executives to take wise decisions for their future marketing
strategy, expansion and investment etc. We believe every business can expand to
its new horizon, provided a right guidance at a right time is available through
strategic minds. Our out of box thinking helps our clients to take wise
decision so as to avoid future uncertainties.
Contact for more
Info:
Ajay
Daniel
U.S.
+1 646 586 9123
U.K.
+44 203 608 5919
No comments:
Post a Comment