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.
Browse 138 market data tables and 170 figures spread through 245 pages and in-depth TOC on “Global Industrial Seamless Steel Pipe Market”
In this market, different types of industrial seamless steel pipe such as hot finished seamless pipe and cold finished seamless pipe are used as process. 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 industrial seamless steel pipe 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 and others are among the major industrial seamless steel pipe manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global industrial seamless steel pipe market by end use industry, process, diameter, pressure rating, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Industrial Seamless Steel Pipe Market 2019-2024: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a 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
– Germany
– Russia
• Asia Pacific
– China
– India
– Japan
• The Rest of the World
– Brazil
– Middle East
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 click on this link https://www.lucintel.com/industrial-seamless-steel-pipe-market.aspx or helpdesk@lucintel.com.
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 answers following 11 key questions:
Q.1 What are some of the most promising, high-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 by 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 regions will grow at a faster pace and why?
Q.4 What are the key factors affecting market dynamics? What are the drivers and challenges of the market?
Q.5 What are the business risks and threats to the market?
Q.6 What are the emerging trends in this market and reasons behind them?
Q.7 What are some changing demands of customers in the market?
Q.8 What are the new developments in the market? Which companies are leading these developments?
Q.9 Who are the major players in this market? What strategic initiatives are being implemented by key players for business growth?
Q.10 What are some of the competitive products and processes in this area and how big of a threat do they pose for loss of market share via product substitution?
Q.11 What M&A activity has occurred in the last 5 years?
