DUBLIN, Oct. 18, 2021 (GLOBE NEWSWIRE) — The Electric Resistance Welded (ERW) Pipe and Tubing – Global Market Track and Analysis report has been added to ResearchAndMarkets.com’s offering.
Amid the COVID-19 crisis, the global electric resistance welded (ERW) pipe and tubing market was estimated at 62.3 million tons in 2020 and is expected to reach a revised size of 85.3 million tons by 2026, growing at a CAGR of 5.5% during the analysis period.
Post-pandemic growth in ERW pipeline pipelines is expected to increase, driven by plans by major oil and gas, fertilizer, and power companies to build multinational pipelines.A recovery in oil and gas prices and a recovery in drilling budgets are expected to encourage growth opportunities for OCTG and pipeline pipelines globally.Rising investments in industries such as power generation and automobiles, and increasing government investment in infrastructure projects such as water supply and sewerage systems have contributed to the market expansion.Mechanical steel pipe, one of the market segments analyzed in the report, is expected to grow at a CAGR of 5.1% to reach 23.6 million tons by the end of the analysis period.After a thorough analysis of the business impact of the pandemic and the economic crisis it caused, growth in the Pipeline and Pipeline segment was rescaled to a revised CAGR of 5.8% for the next seven-year period.This segment currently accounts for a 22.5% share of the global electric resistance welded (ERW) pipe and tubing market.
Mechanical steel pipes have applications in mechanical machinery, material handling and other industrial and commercial equipment.In recent years, automakers have increasingly used mechanical tubing to manufacture hydroformed tubular steel components such as rails, frame beams, brackets and struts.
Demand for pipelines depends on the level of pipeline construction activity, pipeline replacement requirements, utility procurement plans and new residential construction activity.The line pipe market continues to be underpinned by demand for replacement and maintenance as well as pipeline projects.The US market is expected to be 5.4 million tons in 2021, while China is expected to reach 27.2 million tons by 2026
The electric resistance welded (ERW) pipe and tubing market in the United States is estimated at 5.4 million tons by 2021.The country currently accounts for 8.28% of the global market.China is the second largest economy in the world, and the market size is expected to reach 27.2 million tons by 2026, growing at a CAGR of 6% throughout the analysis period.
Other notable geographic markets include Japan and Canada, which are expected to grow by 3.8% and 4.5%, respectively, during the analysis period.In Europe, Germany is expected to grow at a CAGR of around 4%, while the rest of the European market (as defined in the study) will reach 29 million tonnes by the end of the analysis period.
Asia Pacific is the largest regional market driven by increasing industrialization in the region, followed by rapid infrastructure growth.This is mainly attributable to strong economic growth in various countries in these regions and increased activity in end-use sectors such as oil, power and refineries.
Growth in the U.S. market is largely attributable to a recovery in E&P spending, as the country places particular emphasis on developing huge shale reserves to meet rising energy demand and achieve energy security.19.5 million tons by 2026
Demand in the structural steel pipe and pipe segment is expected to increase due to the surge in the number of high-rise buildings, especially in emerging economies.Structural tubes are used in tall buildings to make them resistant to lateral loads from wind and seismic pressure.
In the global structural steel pipe and tube segment, the United States, Canada, Japan, China and Europe will drive the segment’s 5.3% CAGR.The combined market size of these regional markets in 2020 was 7.8 million tons and is expected to reach 11.2 million tons by the end of the analysis period.
China will remain one of the fastest growing countries in this regional market cluster.The Asia-Pacific market is expected to reach 6.2 million tonnes by 2026, led by countries such as Australia, India and South Korea.Key Topics Covered: I. Methodology II.Executive Summary 1.market Overview