Welded Pipes Market

Growing use in oil and gas is driving the market growth

Market CAGR for welded pipes is being driven by the rising use in oil and gas industry. Increased oil and gas production due to transportation industry demand is one of the primary growth drivers for the welded pipes market. The oil and gas industry primarily uses welded pipes and tubes. Welded pipes are utilized to transfer gas and liquid in this business. They are typically constructed of low alloy or carbon steel. When selecting pipes for certain purposes, inside diameter, elasticity, yield strength, and pressure rating are all key elements to consider.

The United States oil and gas industry is a major welded pipe and tube end-user. The product is utilized in crude oil's upstream, midstream, and downstream processing.

The welded pipes market is likely to increase steadily during the forecast period due to advances in the oil and gas industry in the United States. With the recent finding of unconventional oil and gas assets, the country's oil reserves have climbed to greater than 68 billion barrels, with natural gas reserves to 432 trillion cubic feet in 2019. In 2019, the country contributed 17.5% of oil output and 23.2% of gas production.

In the coming years, these numbers are likely to climb.The United States crude oil output climbed to 17,3045 thousand barrels daily in 2019, over 11,801 thousand barrels per day in 2018. The country's forthcoming forecast, which includes the USD 43 billion Alaska LNG liquefaction facility and the USD 33 billion Cameron LNG Liquefaction facility, is likely to raise demand for oil and gas equipment, including steel pipes and tubes. All of these factors contribute to the growth of the welded pipes market and are projected to continue in the forecast period. The demand for the pipe is projected to rise.

The  need for more affordable transit will rise. Each mode of transport reduces the cost of moving fluids per unit weight per unit distance by an order of magnitude: air, surface, ship, and pipe.Thus, driving the Welded Pipes market revenue.

The Global Welded Pipes Market Industry is experiencing a surge due to increasing infrastructure development across various regions. Governments are investing heavily in transportation, water supply, and energy projects, which require durable and reliable piping solutions. For instance, the construction of new highways and bridges necessitates the use of welded pipes for structural integrity. This trend is expected to contribute significantly to the market's growth, with projections indicating a market value of 253.1 USD Billion in 2024. As infrastructure projects expand, the demand for welded pipes is likely to rise, driving the industry forward.

By region, the study provides market insights into North America, Europe, Asia-Pacific and the Rest of the World. The Asia Pacific Welded Pipes market will dominate this market. Commercial building construction, such as offices and complexes, has expanded as corporate centers have gotten overcrowded, necessitating more structures. The early adoption of various novel waste management technologies and a firm foundation of affluent industry participants offering various products.

Further, the major countries studied in the market report are The US, Canada, German, France, South Korea, the UK,  Spain, China, Italy, Japan, India, Australia, and Brazil.

Figure 2:  WELDED PIPES MARKET SHARE BY REGION 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

North America Welded Pipes market accounts for the second-largest market share as the construction business has grown significantly due to higher real estate expenditure by construction organizations. Furthermore, the Welded Pipes market in the United States has the biggest market share, and the Canada Welded Pipes market was the fastest-growing market in the North American region.

The Europe Welded Pipes Market is expected to grow at the fastest CAGR from 2023 to 2032. Increased infrastructure renovation, increased environmental concerns, and a shift towards cost-effective construction are driving the growth of the European welded pipes market. Moreover, the German Welded Pipes market held the largest market share, and the UK Welded Pipes market was the fastest-growing market in Europe.

Leading market companies are extensively spending R&D on increasing their product lines, which will help the Welded Pipes market grow even more. Important market developments include new product releases, contractual agreements, acquisitions and mergers, greater investments, and collaboration with other organizations. The Welded Pipes industry must produce cost-effective merchandise to flourish and thrive in a more competitive and increasing market climate.

Manufacturing locally to reduce operating costs is an effective business strategy manufacturers use in the worldwide Welded Pipes industry to serve clients and expand the market sector. The Welded Pipes industry has provided some of the most important benefits recently. Major players in the Welded Pipes market, including Tenaris and others, are attempting to increase market demand by investing in research and development operations.

Tenaris is a leader in the supply of tubes and related services to the energy industry and other industrial applications. Their objective is to provide value to their clients by developing new products, improving manufacturing, and managing the supply chain. Tenaris personnel worldwide are committed to continual improvement through knowledge sharing across a single organization. Most of the world's top oil and gas businesses and engineering firms involved in constructing oil and gas gathering, transportation, and processing facilities are among their customers. Their main goods are casing, tubing, line pipe, and mechanical and structural pipes.

In May 2019, Tenaris S.A. and MTA Italy said it would form a joint venture with PAO Severstal to construct a welded pipe factory to produce OCTG products in the Surgut area of West Siberia, Russian Federation. Tenaris will control 49% of the joint venture company, while Severstal will possess 51%. The project's start date is subject to regulatory approvals and other usual circumstances.

Novarc Technologies is a full-stack robotics firm based in Vancouver that specializes in designing and commercializing cobots and AI systems for robotic welding applications. Novarc, a Canadian pioneer in collaborative robotics, has a devoted team of engineers and scientists ready to solve difficult industrial automation problems. The Spool Welding Robot (SWR) from Novarc is the first of its type in the pipe welding application. In August 2022, Novarc Technologies Inc. has announced a collaboration with Lincoln Electric to enhance the company's automated cobot pipe welding solutions.

Novarc will include Lincoln Electric's welding technologies, including the company's patented Surface Tension Transfer root pass technology and HyperFill twin wire MIG welding solutions, into its automated cobot pipe welding system as part of the partnership.