According to a new market report published by Lucintel, the future of the global steel pipe market looks promising with opportunities in oil and gas, water and wastewater, power generation, automotive, and other industrial sector. The global steel pipe market is expected to reach an estimated $75.4 billion by 2027 with a CAGR of 2.9% from 2022 to 2027. The major drivers for this market are increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development.
Browse 102 market data tables and 129 figures spread through 209 pages and in-depth TOC on “Global Steel Pipe Market"
In this market, carbon steel and stainless steel are used for pipe manufacturing for various end use industries. On the basis of comprehensive research, Lucintel forecasts that carbon steel pipes are expected to remain the largest segment over the forecast period due to their increasing demand driven by growth in the oil and gas, power generation and automotive industries. Lucintel projects that by material, stainless steel pipes will witness the highest growth during the forecast period because stainless steel offers high tensile strength, pressure resistance, and corrosion resistance.
Within the global steel pipe market, oil and gas will remain the largest end use segment during the forecast period due to rising oil and gas exploration, which also leads to more pipes needed for production, transportation, and distribution infrastructure of oil and gas.
North America will remain the largest region due to an increase in oil and gas exploration activities. APAC is expected to witness the highest growth over the forecast period due to increasing infrastructure development, urbanization and government economic stimulus measures in this region.
Emerging trends which have a direct impact on the dynamics of the industry include the increasing use of premium and technically advanced pipe by using dopeless technology and increasing use of multilayer pipes for strength and durability. Tenaris, Vallourec, TMK, ArcelorMittal, Nippon Steel and Sumitomo Metals, United States Steel Corporation, Chelpipe, and Tata Steel are among the major suppliers of steel pipes.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global steel pipe market by end use, product, material, diameter, pressure rating, and region, and has compiled a comprehensive research report entitled “Growth Opportunities in the Global Steel Pipe Market 2022-2027.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the global steel pipe market by product, end use, material, diameter, pressure rating, and region, as follows:
By End Use [Value ($Billion) and Volume (Kilotons) from 2016 to 2027]:
•Oil and Gas
•Automotive
•Potable Water
•Wastewater
•Power Generation
•Others
By Product [Value ($Billion) from 2016 to 2027]:
•Seamless Pipes
•Welded Pipes
By Material [Value ($ Billion) from 2016 to 2027]:
•Carbon Steel Pipe
•Stainless Steel Pipe
•Others
By Diameter [Value ($ Billion) from 2016 to 2027]:
•Small Diameter Pipes
•Large Diameter Pipes
By Pressure Rating [Value ($ Billion) from 2016 to 2027]:
•0-300 psi
•>300-1000 psi
•>1000-3000 psi
•3000 and Above psi
By Region [Value ($ Billion) and Volume (Kilotons) from 2016 to 2027]:
•North America
oUnited States
oCanada
oMexico
•Europe
oGermany
oUnited Kingdom
•Asia Pacific
oChina
oJapan
oIndia
•The Rest of the World
oBrazil
oMiddle East
This 209-page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/steel-pipe-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
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This report addresses the following key questions:
Q.1. What are some of the most promising, high growth opportunities for the global steel pipe market by end use (oil and gas, automotive, potable water, wastewater, power generation, and others), product (seamless pipe and welded pipe), material (carbon steel, stainless steel, and others), diameter (small diameter pipes (up to 15 inches) and large diameter pipes (15 inches and above), pressure rating (0-300 psi, >300-1000 psi, >1000- 3000 psi, and 3000 and above psi), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which products segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market and which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are being initiated by key companies for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by product substitution?
Q.11. What M&A activity has occurred in the last 5 years?