Development of Multi layer Pipes to Assist in Metal Pipes Market Growth
The global metal pipes market is anticipated to surpass a valuation of USD 70 billion, attaining a CAGR of 4% during the forecast period (2018-2023), Market Research Future (MRFR) unveils in a detailed analysis.
The global metal pipes market has witnessed a tectonic surge over the past few years, mainly due to the growth in the end-use industries. Rising construction of new pipelines and replacement of obsolete and old pipelines across industries like water & wastewater, oil & gas, and infrastructure development are some of the major factors contributing to the market growth. Metal pipes offer several benefits over other pipes, like durability, sustainability, easy maintenance, and ease of installation, which increases their demand across the globe.
Metal pipes are generally made of ductile iron, steel, copper, and others, which possess tensile strength and remain stable at extreme temperatures. These pipes are not affected by cold and heat. Such benefits are estimated to contribute to the growth of the metal pipes market in the foreseeable future. Moreover, metal pipes find application in sectors like power generation, oil and gas, industrial, and automotive, which further encourages the market’s growth. Moreover, emerging trends like the soaring use of technically advanced and premium pipes and the advent of multilayer pipes for durability and stability are having a positive impact on the growth of the market.
On the flip side, fluctuating prices of raw materials are likely to restrict the growth of the metal pipes market globally.
Global Metal Pipes Market: Segmental Analysis
The global metal pipes market has been segmented on the basis of diameter, material, and end-use.
By material, the metal pipes market is segmented into ductile iron, steel, copper, and others. Of these, the steel segment is likely to experience significant growth, mainly due to its attributes like material strength, durability, durability, low corrosion, and longer shelf life. Stainless steel can resist extreme pressure and temperature, which makes it ideal for oil & gas and power application.
By diameter, the metal pipes market is segmented into up to 15 inches, and above 15 inches.
By end use, the metal pipes market is segmented into water & wastewater, oil & gas, HVAC & electrical, power, and others. Of these, the water & wastewater segment is likely to witness high growth as the ever-increasing population, and economic growth is estimated to increase the demand for water. Several initiatives by the non-government and government in terms of regulations and policies, where the major focus of these initiatives lies in the increasing investment on water-related services and infrastructure are likely to trigger the demand from the water & wastewater segment.
Regional Frontiers
Geographically, the metal pipes market spans across Europe, North America, Asia Pacific, and the Rest of the World (RoW).
Considering the global scenario, North America acquired the largest market share in 2017. The region is likely to retain its dominance in the long run, mainly due to high investments in the pipeline upgradation projects for water infrastructure.
The Asia Pacific region is estimated to occupy a significant share in the global metal pipes market. APAC has experienced a soaring demand for portable water, which has further resulted in investments in oil as gas exploration and water infrastructure activities. This is expected to trigger the demand from the metal pipes market in the region. The ever-increasing population has created a high demand for clean drinking water, which has further impacted the market growth positively.
Competitive Dashboard
The key players dominating the global metal pipes industry include Compagnie de Saint-Gobain SA (France), ArcelorMIttal S.A. (Luxembourg), Northwest Pipe Company (US), Kaiser Aluminum Corporation (US), Muller Industries, Inc. (the US), Saudi Arabian Amiantit Company (Saudi Arabia), Nippon Steel and Sumitomo Metals (Japan), Narsk Hydro ASA (US), Tenaris SA (Luxembourg), and TMK Group (Russia).
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Market Research Future published a half-cooked research report on the global metal pipes market.
The metal pipes market is expected to grow at a CAGR of around 4% during 2018–2023.Market Highlights:The global metal pipes market is expected to witness sustainable growth throughout the forecast period.
The increased use of metal pipes in Asia-Pacific, increasing construction of new pipelines, and replacement of old and obsolete pipeline, across industries, such as oil & gas, water & wastewater, infrastructure development, and investment in material R is expected to raise the demand for metal pipes.
However, the fluctuating raw material prices are expected to hinder the market growth.Get Free Sample PDF @ https://www.marketresearchfuture.com/sample_request/7740North America to witness moderate growth in the global metal pipes market over the forecast period.On the basis of region, the global metal pipes market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW).
North America dominated the global market, primarily due to the various investments in the pipeline upgrading projects for water infrastructure.Asia-Pacific is expected to witness the highest growth during the forecast period, where China held the largest market share in 2017.
This is attributed to the increasing population and rapid urbanization, which has created a demand for clean drinking water.
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