PUNE, India, Oct. 20, 2021 (GLOBE NEWSWIRE) — The global stainless steel pipe market size reached USD 28.98 billion in 2020 and is likely to show continued growth throughout the study period, according to MarketStudyReport.This can be attributed to rising energy demand, increased vehicle production, and infrastructure development.
The study details the current trends and the technologies that are playing a key role in the growth of this market.It also highlights growth stimuli, challenges and constraints and other expansion opportunities expected to impact the growth matrix during 2021-2026.
The research report also provides a detailed Porter’s Five Forces analysis, allowing entrepreneurs and investors to measure the competitive landscape in this business space, further ensuring improved decision-making and increased profitability while starting a new venture.
Stainless steel pipes and tubes are known for their excellent durability, high pressure and corrosion resistance, and yield strength.Hence, the rapid industrialization and widespread adoption of this product in various applications such as oil and gas, automotive and construction activities is stimulating the overall industry outlook.
Surging R&D investments and subsequent technological breakthroughs also favor the overall market scenario.Various manufacturers have been specializing in the production of stainless steel welded pipes to provide customized products according to specific needs.
The coronavirus outbreak and eventual lockdown has severely impacted the global economy and various industries including power generation, automotive, manufacturing and oil and gas industries.Supply chain disruptions and falling demand for steel products are hindering salaries in the global stainless steel tube industry.
The range of end users of the global stainless steel pipe market includes water and wastewater, civil construction, oil and gas, industrial and power, automotive, and others.
Global operations in this market include the Americas, Asia Pacific and Europe.
Of these, Asia Pacific currently accounts for the largest share of the global stainless steel tube industry and is likely to witness continued growth throughout the analysis period.Rapid industrialization, improving economic conditions and increasing construction activities are boosting business development in the Asia Pacific region.
To access a sample copy or to view this report and table of contents in detail, please click on the link below:
https://www.marketstudyreport.com/reports/global-stainless-steel-pipes-and-tubes-market-value-volume-analysis-by-product-type-welded-seamless-end-user-by-region- by-country-2021-edition-market-insights-and-forecast-with-impact-of-covid-19-2021-2026
Global Stainless Steel Pipes and Tubes Market Competitive Outlook (Revenue, USD Million, 2016-2026)
5.2 Stainless Steel Pipe Market Competitive Scenario: By Product Type (2020 and 2026)
6.2 Global Stainless Steel Pipe Market Competitive Scenario: By End User (2020 and 2026)
7.1 Global Stainless Steel Pipe Market Competitive Scenario: By Regions (2020 and 2026)
8.4 Market Segmentation by End User (Automotive, Industrial & Power, Oil & Gas, Civil Construction, Water & Wastewater, etc.)
9.4 Market Segmentation by End User (Automotive, Industrial & Power, Oil & Gas, Civil Construction, Water & Wastewater, etc.)
10.4 Market Segmentation by End User (Automotive, Industrial & Power, Oil & Gas, Civil Construction, Water & Wastewater, etc.)
12.1 Market Attractiveness Chart of Global Stainless Steel Pipes Market – By Product Type (2026)
12.2 Market Attractiveness Chart of Global Stainless Steel Pipes Market – By End User (2026)
12.3 Market Attractiveness Chart of Global Stainless Steel Pipes Market – By Regions (2026)
Steel Market Size, Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Shares And Forecasts, 2021 – 2027
The global steel market for automotive and aerospace applications is expected to expand substantially in the coming years, driven by rapid developments in the automotive and aerospace sectors.Demand for angles, profiles and profiles is likely to grow at a CAGR of 4.5% through 2027.The wire drawing segment is expected to be worth over $3 billion by 2027.Brushed wire is widely used in tire reinforcement to increase its strength and durability.They are also widely used in the production of automotive controls.During the same time period, the demand for steel wire rods is expected to grow at a CAGR of around 5.5%.Steel is widely used in wire due to its high strength, ductility, ductility, and corrosion resistance required for various automotive components.By 2027, the hot rolled bar and bar market will be worth more than $27.5 billion.Meanwhile, the adoption of other bars will grow at a CAGR of 3%.
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