The global Steel Pipes and Tubes market is forecast to reach USD 278.84 Billion by 2027, according to a new report by Reports and Data. The market is witnessing a surge in demand owing to the rising demand from the oil and gas industry. New and upcoming oil and natural gas projects are also leading to an increase in the demand for the steel pipes and tubes market.
Wind turbines, batteries, medical equipment, plastics, detergents, packaging, and tires, require petrochemical for their operation, and rising demand for these products is leading to a rise in the demand for Steel Pipes and Tubes because these are used in petrochemical plants. The increase in industrial production is also propelling the demand for the market because seamless steel tubes are used extensively in the construction of machinery and equipment.
Even though there is a rising demand from various industries, market growth can get hampered due to the availability of substitutes. These substitutes include plastic pipes made of UPVC, HDPE, Polypropylene, and Polyethylene as these materials lightweight, corrosion-resistant and have higher strength. Thus, these are preferably used in low and medium pressure areas.
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Key Players Profiled in the Report are:
VALLOUREC, Essar Steel, Hyundai Steel, Steel Authority of India Limited, Rama Steel Tubes Limited, Jindal Steel & Power Ltd., Tata Steel, Nippon Steel Corporation, United States Steel, and Arcelor Mittal, among others.
The report offers a segmentation analysis of the market to impart a better understanding of the market. The report segments the Steel Pipes and Tubes market on the basis of product types offered in the market, application spectrum, end-user industries, technologies, and key geographical regions of the market. The report also offers insights into the segment expected to show lucrative growth in the projected timeline.
For the purpose of this report, Reports and Data have segmented into the global Steel Pipes and Tubes market on the basis of product, application, distribution channel, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
- Submerged Arc Welded Steel Pipes and Tubes
- Electric Resistance Welded Steel Pipes and Tubes
- Seamless Steel Pipes and Tubes
Application Outlook (Revenue, USD Billion; 2017-2027)
- Chemicals and Petrochemicals
- Oil & Gas
- Automotive and Transportation
- Power Plants
Distribution Channel Outlook (Revenue, USD Billion; 2017-2027)
- Offline Stores
- Online Stores (E Commerce)
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Regional Segmentation Covers:
· North America (U.S., Canada)
· Europe (U.K., Italy, Germany, France, Rest of EU)
· Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The report provides extensive coverage of the competitive landscape of the Steel Pipes and Tubes market with company profiles, product portfolio, revenue generation, financial standing, market reach, and global position. The report also sheds light on mergers and acquisitions, joint ventures, collaborations, partnerships, and agreements, among others, to offer a better understanding of the market. The report also includes a thorough SWOT analysis and Porter’s Five Forces analysis.
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To summarize, the Global Steel Pipes and Tubes Market report is a dependable and authentic source for attaining crucial information and market insights to advance and boost your business significantly. The report studies all crucial aspects, such as present and future economic scenarios, beneficial opportunities, limitations, drivers and constraints, market growth rate, and risks.
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