The industrial pipes market was valued at approximately USD 534.2 billion in 2020 and is expected to grow at a healthy growth rate of over 5.8% during the forecast period 2021-2027.
Industrial tubing is used in process facilities for applications such as pipe tracing and coiled tubing systems.It is used to reduce leakage problems.These tubes are used in the oil and gas, automotive and chemical industries.Rising oil and gas production has led to the adoption of industrial pipes over the forecast period.For example: According to 2018 data from the Organization of the Petroleum Exporting Countries, oil and gas production in countries such as Algeria, Angola, Congo, Ecuador and Nigeria is growing rapidly.OPEC has 1,189.8 billion barrels of crude oil reserves, accounting for 79% of global production.
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According to the same source, non-OPEC countries share about 20% of crude oil reserves, or about 308.18 billion barrels.Furthermore, the adoption and demand for industrial pipes with increasing investments in the petrochemical chemical industry is likely to augment the market growth over the forecast period.However, high manufacturing costs hinder the growth of the market during the forecast period 2021-2027.
The geographic regions considered in the global industrial pipe market analysis include Asia Pacific, North America, Europe, Latin America, and the rest of the world.The Asia Pacific region is considered to be an important region with a huge global market share owing to the growing petrochemical and chemical industry and the increasing consumption of chemical products.Asia Pacific is also expected to experience the highest growth rate during 2021-2027.Factors such as increasing disposable income and increasing investments in the petrochemical and chemical industries will create favorable growth forecasts for the industrial pipes market in the entire Asia Pacific region.
Key market players included in this report are: Nippon Steel AK Tube LLC. Vallourec SA (France) Sandvik AB (Sweden) Tenaris (Luxembourg) Tata Steel (India) TUBACEX US Steel Benteler Aperam
The purpose of the study is to determine the market size of different segments and countries in recent years and forecast the value over the next eight years.The report aims to incorporate both qualitative and quantitative aspects of the industry into each region and country covered in the study.Furthermore, the report provides details on key aspects such as the drivers and challenges that will define the future growth of the market.In addition, the report should incorporate opportunities available for investment by stakeholders in the micro market, as well as a detailed analysis of the competitive landscape and product offerings of key players.
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The detailed segmentation and sub-segmentation of the market are as follows: By Type: Process Piping Mechanical Heat Exchanger Structure By Material: Steel Non-Steel By Manufacturing: Seamless Welding By End Use: Oil & Gas & Petrochemical Auto Chemical
Asia Pacific China India Japan Australia South Korea RoAPAC Latin America Brazil Mexico Rest of the World
Major Consulting Firms and Advisors Small and Medium Enterprises Venture Capitalists Value Added Resellers (VARs) Third Party Knowledge Providers Investment Bankers Investors
Nippon Steel AK Tube LLC. Vallourec SA (France) Sandvik AB (Sweden) Tenaris (Luxembourg) Tata Steel (India) TUBACEX US Steel Benteler
Through increasing cooperation and effective government policies, North America is leading the industrial automation and equipment market.U.S. industrial automation and equipment companies spend about one-fifth of their total revenue on research and development—the highest percentage of any industry.During difficult economic times and fluctuating sales revenue, the industry has always put research and development first.To maintain the partnership, the federal government is funding sustainable levels of research.The industry will continue to drive economic growth and develop technologies that will power the future.
Following the spread of COVID-19, construction companies moved quickly to protect supply chains, protect employees and address other pressing issues.Despite the severity of the situation and the continued imposition of physical distancing requirements by many governments, construction companies are now moving forward when the pandemic subsides and a new normal begins.Many fundamental aspects of the industry have changed due to COVID-19, including customer behavior, business revenue, and various characteristics of business operations.As a result, some companies may not survive the crisis.
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