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Seamless Steel Pipes Market Size Analysis
According to a research survey conducted by ChemView Consulting, in 2022, the Global Seamless Steel Pipes Market was worth US$ 175.3 Bn and is expected to grow at a CAGR of 5.8% over the forecast period. The market is expected to hit US$ 275.2 Bn by 2030 end.
Global energy consumption, automobile production, and increased building activity in emerging areas are expected to drive growing demand for seamless steel pipes. With a competitive value market share over other pipe types, seamless steel pipes have enormous potential in the worldwide piping sector.
Seamless steel pipe is produced from a solid round steel ‘billet,’ which is a solid length of metal in the shape of a square or circle. It is heated and then pressed or drawn over a form until the steel is formed into a hollow tube with no welding or joints. It is employed in high-pressure environments, crucial places, and under extreme working circumstances.
Market Dynamic
THE GROWTH IN THE CONSTRUCTION INDUSTRY
Growth is projected to be driven by corporations increasing their efforts to boost oil and gas output from existing fields. Furthermore, rising expenditure in upstream and trade organizations by incorporated oil businesses and oil corporations is increasing substantially in the industry for seamless Steel Pipes and Tubes, seeking to increase market demand.
Building the new transmission system required to transfer oil and gas from drilling sites to customers and the requirement for assembling systems at innovative offshore locations has boosted demand for seamless steel pipes. The strength qualities of seamless pipe have overtaken welded pipe, predicting rapid expansion in a market where the bulk of applications relies on their strength.
STRINGENT GOVERNMENTAL REGULATIONS HAMPER THE MARKET GROWTH
Manufacturers are having difficulties in various areas of business. Environmental laws in places such as Europe and North America influence the manufacture of seamless steel pipes. Regulating bodies in separate regions has been focusing on reducing carbon emissions, which has compelled them to implement tough emission restrictions. Noncompliance with these standards might result in lengthy production halts, reducing cash flow.
COVID-19 Impact
The market is heavily reliant on the oil and gas industry. The industry suffered during the pandemic as a result of two factors: the oil price war and the Covid-19 effect. The oil price war began due to a failed production reduction deal. Chemical and refined product demand fell due to slowing industrial activity and travel constraints caused by Covid-19. Oil and gas businesses reacted by reducing capital and operating spending, which impacted demand for seamless steel pipes.
Market Segments Covered in Report
By Process:
By Coating:
By Material:
By Dimension:
By End-Use:
By Region and Country:
Segment-Wise Analysis
Why are Cold-rolled Type Seamless Steel Pipes projected to have the highest CAGR?
Cold-rolled seamless steel pipes are high-precision seamless steel with high dimensional accuracy and a superior surface polish utilized in equipment and hydrodynamic devices. It is generally used in engineering and major industrial equipment to transport fluid pipes. It is also used to transmit high-temperature and high-pressure fluid pipes on chemical fertilizer equipment and in producing coal mine hydraulic support systems, cylinders, sections, other hydraulic pumps, and columns.
Why is the Oil & Gas segment expected to expand the fastest during the forecast period?
The market is heavily reliant on the oil and gas industry. The industry suffered during the pandemic as a result of two factors: the oil price war and the Covid-19 effect. The oil price war began due to a failed production reduction deal. Chemical and refined product demand fell due to slowing industrial activity and travel constraints caused by Covid-19. Oil and gas businesses reacted by reducing capital and operating spending, which impacted demand for seamless steel pipes.
Region-Wise Analysis
The regions analyzed for the market include North America, Europe, Latin America, Asia Pacific, Middle East, and Africa.
Competition Analysis
The market is oligopolistic. Companies invest heavily in updating technologies. Major competitors in this market focus on expanding their production facilities, investing in R&D, developing infrastructure, and using integration possibilities across the entire chain. With these tactics, Industrial Seamless Steel Pipe firms may meet rising demand, maintain competitive effectiveness, create new goods and technologies, cut manufacturing costs, and broaden their client base.
Some of the key developments that have taken place in the Seamless Steel Pipes Market include:
A list of some of the key suppliers present in the market are:
Global Seamless Steel Pipes Market 2022-2030: Report Coverage and Highlights
| Research Scope | Details |
| Forecast period | 2022-2030 |
| Historical data available for | 2017-2021 |
| Market analysis | USD Billion for Value and Tons for Volume, and CAGR from 2022 to 2030 |
| Key regions covered | North America, Latin America, Europe, Asia-Pacific, Middle East, and Africa |
| Key countries covered | US, Canada, Brazil, Mexico, Germany, Italy, France, UK, Spain, Netherlands, Norway, Russia, China, Japan, South Korea, India, Indonesia, Thailand, Vietnam, Australia & New Zealand, Saudi Arabia, Turkey, UAE, South Africa, Nigeria, Egypt |
| Key segments covered | By Process, Coating, Material, Dimension, End-Use, and Region |
| Customization scope | Available upon Request |
| Pricing and purchase options | Available upon Request |
Market Size Data
Market Background
Pricing Analysis
Value Chain Analysis
Competition Analysis
Country Coverage
North America: U.S., Canada
Latin America: Brazil, Mexico, Argentina, Central America, Rest of Latin America
Western Europe: Germany, Italy, France, UK, Spain, Poland, Romania, Rest of Western Europe
Eastern Europe: Russia & Belarus, Balkan Countries, Baltic Countries, Central Asia, Rest of Eastern Europe
Middle East & Africa: KSA, UAE, Turkey, Israel, Northern Africa, South Africa, Rest of Middle East & Africa
East Asia: China, Japan, South Korea
South Asia & Pacific: India, ASEAN, Australia & New Zealand, Rest of South Asia & Pacific
Why Choose CVC Market Research?;
In the forecast period between 2022 and 2030, the market is expected to grow at a CAGR of 5.8%.
Rising expenditure in upstream and trade organizations by incorporated oil businesses and oil corporations is increasing substantially in the industry for seamless Steel Pipes and Tubes, seeking to increase market demand.
Major global Seamless Steel Pipes Market players are ArcelorMittal, American piping’s Inc., Benteler, Hunan Valin Co.Ltd, JFE Steel Corp., Jindal SAW Ltd, Nippon Steel & Sumitomo Metal Corporation, Tenaris SA, TATA Steel, United States Steel, and Vallourec SA.
The high cost of seamless steel goods is expected to hamper the industry for the foreseeable future.
The Asia Pacific region is expected to account for the largest market revenue share in the Global Seamless Steel Pipes market.
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