Global Metal Pipes Market Research Report, Information: by Material (Steel, Ductile Iron, Copper, others), Diameter (Up to 15 inches, and Above 15 inches), End-use (Oil & gas, Water & wastewater, Power, HVAC & electrical) and Region — Forecast till 2023
Market Synopsis Global Metal Pipes Market:
The growth of the end-use industries has resulted in the considerable growth of the metal pipes market. The major factors driving for this market are increasing construction of new pipelines, replacement of old and obsolete pipeline across industries, such as oil & gas, water & wastewater, and infrastructure development. There are several benefits associated with these pipes, which make them suitable for used in various end-use industries. Therefore, the metal pipes market is expected to witness growth, especially from the end-use industries. It has many advantages over other pipes, such as such as sustainability, durability, ease of installation, and easy maintenance. Such pipes are made out of steel, ductile iron, copper, and others, which have certain tensile strength associated with them while they remain stable at extreme temperatures and are not affected by factors such as heat and cold. This makes them an ideal option for carrying water, chemicals, and oil.
The global metal pipes market is expected to witness a CAGR of around 4%, and its value is expected to reach around USD 70 billion during the forecast period.
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Global Metal Pipes Market Regional Analysis:
The global metal pipes market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world (RoW). In 2017, North America held the largest share in the overall market and will continue to dominate the market till 2023. US held the largest market share in the North America metal pipes market.
Asia-Pacific holds a sizeable share in the market after North America. The region has witnessed increased demand for potable water, which has led to investments in water infrastructure, and oil and gas exploration activities. This is expected to fuel the demand for metal pipes in Asia-Pacific during the forecast period.
Global Metal Pipes Market Segmentation:
The global metal pipes market has been segmented based on material, diameter, and end-use. On the basis of material, the market has been classified into steel, ductile iron, copper, and others. On the basis of diameter, the market has been sgmented into Up to 15 inches, and above 15 inches. One of basis of end-use, the market is sub-segmented as oil & gas, water & wastewater, power, HVAC & electrical, and others.
On the basis of material, the market has been segmented into steel, ductile iron, copper, and others. The steel segment is expected to witness significant growth rate during the forecast period. This is attributed to the features, such as durability, material strength, low corrosion, ease of installation, and longer shelf life. Stainless steel, as a material is strong and can resist extreme temperature and pressure. This makes it highly suitable for power and oil & gas application.
On the basis of end-use, the segment is classified into oil & gas, water & wastewater, power, HVAC & electrical, and others. The water and wastewater segment is expected to show high growth during the forecast period. The growing population and economic growth on a global level, are expected to increase the demand for water. This coupled with several government and non-government initiatives in terms of policies and regulations, wherein the objectives of such initiatives is the increase in the investment in water-related infrastructure and services, are expected to fuel the demand for metal pipes.
Key Players:
Some of the players include ArcelorMIttal S.A. (Luxembourg), Compagnie de Saint-Gobain SA (France), Kaiser Aluminum Corporation (US), Northwest Pipe Company (US), Saudi Arabian Amiantit Company (Saudi Arabia), Muller Industries, Inc. (US), Narsk Hydro ASA (US), Nippon Steel and Sumitomo Metals (Japan), TMK Group (Russia), and Tenaris SA (Luxembourg).
The global Metal Pipes market is highly competitive with many players, across the globe. These players have adopted various strategies to expand their global presence and increase their market shares. Some of the key strategies adopted by the key players include new product developments in terms of advanced material, mergers, and acquisitions and the formation of strategic partnerships and collaborations.
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