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 $68.4 billion by 2024 with a CAGR of 1.6% from 2019 to 2024. The major drivers for this market are increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development.
Browse 100 market data tables and 216 figures spread through 209 pages and in-depth TOC on “Global Steel Pipe Market"
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In this market, different types of steel pipe such as carbon steel, stainless steel, and others are used as material. On the basis of comprehensive research, Lucintel forecasts that carbon steel pipe is expected to remain the largest segment over the forecast period due to increasing demand for carbon steel pipes due to growth in oil and gas, power generation and automotive industries. Lucintel projects that by material, stainless steel pipe 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.
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North America will remain the largest region due to 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.
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Emerging trends which have a direct impact on the dynamics of the steel pipe 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, Tata Steel and others are among the major steel pipe manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global steel pipe market by product, end use, material, diameter, pressure ratings, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Steel Pipe Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global steel pipe market by product, end use, material, diameter, pressure ratings, and region as follows:
By End Use [Value ($Billion) and Volume (Kilotons) from 2013 to 2024]:
- Oil and Gas
- Automotive
- Potable Water
- Wastewater
- Power Generation
- Others
By Product [Value ($Billion) from 2013 to 2024]:
- Seamless Pipe
- Welded Pipe
By Material [Value ($ Billion) from 2013 to 2024]:
- Carbon Steel Pipe
- Stainless Steel Pipe
- Others
By Diameter [Value ($ Billion) from 2013 to 2024]:
- Small Diameter Pipes
- Large Diameter Pipes
By Pressure Rating [Value ($ Billion) from 2013 to 2024]:
- 0-300 psi
- >300-1000 psi
- >1000-3000 psi
- 3000 and Above psi
By Region [Value ($ Billion) and Volume (Kilotons) from 2013 to 2024]:
- North America
- Europe
- Asia Pacific
- The Rest of the World
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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 helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global management consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, growth consulting, M&A, and due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report answers following 11 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 by region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q. 2 Which segments will grow at a faster pace and why?
Q.3 Which regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
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