ID: MRFR/CO/6504-HCR | February 2021 | Region: Global | 107 pages
Welded pipes market is expected to witness a 4.4% CAGR during the forecast period. The welded pipes market size is expected to be valued at USD 180.8 billion by the end of the forecast period.
The global market for welded pipes has been witnessing moderate growth in the past couple of years. The demand for welded pipes is expected to be driven by the growing construction industry and the increase in demand from end-use industries. Due to the rapid industrialization and urbanization across the world, there has been a rise in the demand for welded pipes, which are widely used in manufacturing plants, machinery, and mechanical instruments. Spiral welded pipes are used primarily for the transmission of oil, gas, and water at various pressures and densities over long distances. Welded pipes are used for the in various industries, including infrastructure & construction, water treatment, pharmaceuticals, chemicals, dairy, pulp and paper, breweries, sugar & food processing, and power & energy.
Moreover, various reforms and regulations have been introduced by governments in several countries for the purpose of raising their infrastructure and real-estate industries, which lead to the growth of the construction industry and, consequently, the global welded pipes market. However, the growth of the market might be hindered by fluctuating raw material prices. The growing oil & gas industry creates lucrative opportunities for the global welded pipes industry.
Regional Analysis: Global Welded Pipes Market
On the basis of region, the global welded pipes market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world. In 2018, Asia-Pacific held the largest share in the global welded pipes market, followed by North America and Europe.
The growth of the construction and automotive industry is anticipated to drive the welded pipes market in Asia-Pacific. Moreover, the water treatment, pharmaceuticals, chemicals, breweries, dairy, pulp and paper, sugar, and food processing industries are also growing in this region, mainly in the countries such as China, India, and Japan. This is expected to contribute significantly to the growth of market. Additionally, Asia-Pacific is one of the key regions for the automotive industry and held a significant share of global vehicle sales, which is expected to raise the demand for welded steel pipes in Asia-Pacific during the forecast period.
The Key Players in the global welded pipes market include AK Tube LLC (US), AMETEK Inc. (US), ArcelorMittal (Luxembourg), Benteler International AG (Austria), Hi-Tech Metal & Tubes (India), Napsteel (Canada), TUBACEX S.A. (Spain), and US Steel Tubular Products (Canada).
Associated Tube Group (Canada), EVRAZ plc. (Russia), Marmon/Keystone Canada Inc. (US), Sandvik AB (Sweden), Tenaris SA (US), WELDED TUBE OF CANADA CORP. (US), and Welded Tubes, Inc. (US) are some of the other key players operating in the global welded pipes market.
Segmentation: Global Welded Pipes Market
The global welded pipes market has been segmented based on material, type, and application. On the basis of material, the global market has been classified into carbon steel, stainless steel, and alloy steel. In 2018, the carbon steel segment held the largest market share of the global welded pipes market and is expected to witness the highest CAGR during the forecast period. There are various advantages associated with carbon steel, such as safety, durability, corrosion-resistance, cost-effectiveness, and high tensile strength. Such factors raise the demand for carbon steel during the forecast period. Welded stainless steel pipes is the most widely used welded pipes in process industries after carbon steel welded pipes due to its properties, such as corrosion resistance and ductility.
On the basis of type, the global market has been segmented into process pipes, mechanical tubes, heat exchanger tubes, structural tubes, hydraulic & instrumentation tubes, and others. The process pipes segment held the largest market share of the global welded pipes market due to installation in the various processing industries, such as petroleum refineries, chemical, pharmaceutical, textile, paper, semiconductor, cryogenic plants, and other related processing plants and terminals. Growing process industries across the globe drive the process pipes segment in the global welded pipes market.
On the basis of application, the global market has been segmented into oil & gas, power generation, infrastructure & construction, automotive, mechanical & engineering, and others. The oil & gas segment held the largest market share of the global welded pipes market due to the high demand for oil and gas across the world. The high production and exports of oil and gas from the US and other countries such as Norway, Bahrain, the UAE, Saudi Arabia, Qatar, and Kuwait will increase the demand for welded pipes during the forecast period.
The global welded pipes market is fairly competitive with a moderate number of players, across the globe. The players are expected to adopt various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the players include focus on high quality product, cost-effectiveness, expansions, strategic partnerships, and collaborations with manufacturing companies.
|Market Size||2027: USD 180.8 Billion|
|CAGR||4.4% CAGR (2020 to 2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Material, Type and Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||AK Tube LLC (US), AMETEK Inc. (US), ArcelorMittal (Luxembourg), Benteler International AG (Austria), Hi-Tech Metal & Tubes (India), Napsteel (Canada), TUBACEX S.A. (Spain), and US Steel Tubular Products (Canada).|
|Key Market Opportunities||Growth of the construction industry and consequently|
|Key Market Drivers||Rapid industrialization and urbanization|
Frequently Asked Questions (FAQ) :
The global welded pipes market valuation is projected to reach USD 180.8 billion by 2027.
The global welded pipes market is expected to grow at 4.4% from 2020 to 2027.
The global welded pipes market is driven by rapid industrialization and urbanization.
Carbon steel has a huge share of the global welded pipes market owing to its use in extending pipelines in the oil & gas sector.
APAC can lead the global welded pipes market till 2024 owing to vehicle sales.
ArcelorMittal, US Steel Tubular Products , AK Tube LLC, TUBACEX S., AMETEK Inc., Benteler International AG, Napsteel, Hi-Tech Metal & Tubes, and others are notable players of the global welded pipes market.