According to
a new market report published by Lucintel, the future of the global industrial
seamless steel pipe market looks promising with opportunities in the power generation,
petrochemical, industrial plant processing, and automotive industries. The
global industrial seamless steel pipe market is expected
to reach an estimated $5.1 billion by 2024 with a CAGR of 1.7% from 2019 to 2024.
The major drivers for this market are growing demand of seamless steel pipe in
power generation and automotive industries due to its superior tensile strength
and high corrosion & pressure resistance.
In this market, hot and cold finished seamless
steel pipes are used in various end use industries. On the basis of
comprehensive research, Lucintel forecasts that hot finished seamless pipes will
remain the largest segment and it is also expected to witness the highest growth
over the forecast period because of its low cost and high tolerance & crack
resistance.
Within the global industrial seamless steel
pipe market, the power generation will remain the largest end use industry over
the forecast period due to growing hydro and nuclear power generation plants. The
automotive segment is expected to witness the highest growth over the forecast period
due to increasing vehicle production.
APAC will remain
the largest region and it is also expected to witness the highest growth over the
forecast period due to the increasing urbanization, infrastructure development,
and the continuous growth of the industrial sectors in this region.
Emerging trends, which have a direct impact on the
dynamics of the industry, include increasing use of premium and technically
advanced pipe by dopeless technology and increasing focus on pipe strength and
durability with use of cold finished seamless pipes. Vallourec, Chelpipe, TMK,
Tenaris, Baosteel, JFE Steel, US Steel, and TPCO are among the major suppliers
of the industrial seamless steel pipe market.
Lucintel, a
leading global strategic consulting and market research firm, has analyzed
growth opportunities in the global industrial seamless steel pipe market by end
use industry, process, diameter, pressure ratings, and region, and has compiled
a comprehensive research report entitled “Growth
Opportunities in the Global Industrial Seamless Steel Pipe Market 2019-2024.” The Lucintel report serves as a catalyst
for growth strategy by providing comprehensive data and analysis on trends, key
drivers, and directions. The study includes a forecast for the global industrial
seamless steel pipe market by end
use industry, process, diameter, pressure rating, and region, as
follows:
By End Use
Industry [Value ($ Million) and
Volume (Thousand Tons) from 2013 to 2024]:
- Power
Generation
- Petrochemical
- Automotive
- Industrial
Plant Processing
- Others
By Process [Value ($ Million) from 2013 to
2024]:
- Hot Finished Seamless Pipes
- Cold Finished Seamless Pipes
By Diameter
Type [Value ($ Million) and Volume (Thousand Tons)
from 2013 to 2024]:
- Small
Diameter Pipes
- Large
Diameter Pipes
By Pressure
Rating [Value ($ Million) and Volume (Thousand Tons)
from 2013 to 2024]:
- High
Pressure Pipes
- Medium
Pressure Pipes
- Low Pressure
Pipes
By Region [Value ($ Million) and Volume (Thousand Tons)
from 2013 to 2024]:
· North America
− United States
− Canada
− Mexico
· Europe
− Russia
− Germany
· APAC
− China
− India
− Japan
· ROW
− Middle East
− Brazil
This
245-page research report will enable you to make confident business decisions
in this globally competitive marketplace. For a detailed table of contents,
contact Lucintel at +1-972-636-5056 or
helpdesk@lucintel.com. Lucintel
offerings include Construction Market Report, Construction Reports, Market Research Report, Capital Investment Feasibility and SWOT
Analysis.
About
Lucintel
Lucintel,
the premier global management consulting and market research firm, creates
winning strategies for growth. It offers market assessments, competitive
analysis, opportunity analysis, growth consulting, M&A, and due diligence
services to executives and key decision makers in a variety of industries. For
further information, visit www.lucintel.com.
This report addresses the following key
questions:
Q.1 What are some of the most
promising growth opportunities for the global industrial seamless steel pipe
market by end use industry
(power generation, petrochemical, automotive, industrial processing plant, and
others), process (hot finished seamless pipe and cold finished seamless pipe), diameter
(small diameter pipes (up to 12 inches) and large diameter pipes (12 inches and
above), pressure rating (high, medium, and low pressure) and region (North
America, Europe, Asia Pacific, and the Rest of the World)?
Q.2 Which segments will grow at a faster pace
and why?
Q.3 Which region will grow at a faster pace
and why?
Q.4 What are the key factors affecting market
dynamics? What are the drivers and challenges, and business risks in this market?
Q.5 What are the business risks and competitive
threats in this market?
Q.6 What are the emerging trends in this
market and the reasons behind them?
Q.7 What are some of the changing demands of
customers in the market?
Q.8 What are the new developments in the
market and which companies are leading these developments?
Q.9 Who are the major players in this market?
What strategic initiatives are being taken by key players for business growth?
Q.10 What are some of the competing products
in this market and how big of a threat do they pose for loss of market share by
product substitution?
Q.11 What M & A activity has occurred in the last 5
years?
