What Will Be the Market Value of “Steel Pipes Market” In Next Five Years? CAGR Value Will Be 3.6%.USD 79.9 Million.
Steel pipes are used for transportation of fluid such as water, oil and gas. The application of steel pipes varies with their capacity or internal diameter. Steel pipes are also used in construction of buildings in order to carry water and gas. Further, s
(EMAILWIRE.COM, October 25, 2017 ) Global steel pipes market is expected to grow at a compound annual growth rate of 3.6% during the forecast period 2017-2024. Further, the global market is anticipated to reach 79.9 Million metric tons by the end of forecast period. Growing construction activities across the world and development of oil & gas industries are some major factors which are projected to foster the growth of global market of steel pipes.
Moreover, high strength and durability of steel pipes are one of the key reasons which are likely to fuel the growth of market. On the basis of regional platform, global steel pipes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
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Further, Asia Pacific region is the largest market of steel pipes. High construction activities and developing oil & gas industries are some of the major factors which are expected to allow Asia Pacific to continue its dominance during the forecast period. Moreover, China alone stood at around 30% share in revenue of global market in 2016 and is anticipated to dominate the Asia Pacific steel pipe market during the forecast period.
North America is the second leading market in steel pipes and is expected to witness satisfactory growth during the forecast period. Factors such as presence of large number of oil and gas industries and growing use of steel pipes in fire sprinkler system are envisioned to foster the growth of North America steel pipes market over the forecast period.
Additionally, Europe region is also projected to grow at an acceptable pace during the forecast period. This growth in Europe region can be attributed to growing demand for steel pipes in end use industries in this region.
Market Segmentation
Our-in depth analysis of the global steel pipes market includes the following segments:
By Region
Global steel pipes market is further classified on the basis of region as follows: North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis, Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis, Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis, Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis. Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.
Growth Drivers & Challenges
Global steel pipes market is primarily driven by factors such as growing construction activities and development of oil & gas industries across the world. Steel pipes have high strength and high thermal resistant. Such features of steel pipes make them more suitable to use in areas like water pipes, oil & gas pipes and sewage pipes. Further, growing adoption rate of steel pipes in different areas is likely to drive the growth of global market.
Moreover, steel pipes are used in fire sprinkler system due to their ability to operate in high temperature zone. This rise in demand for steel pipes in fire sprinkler system installation is expected to drive the market in near future. Additionally, use of structural steels in pole, fencing, handrails exhaust pipes and for oil & gas are also driving the demand for steel pipes globally.
Furthermore, rapid urbanization and development of new industries is also a major factor anticipated to foster the growth of global steel pipes market. The oil & gas industries are projected to capture maximum market share during the forecast period. Moreover, growing oil & gas industries are likely to drive the growth of global steel pipes market in near future.
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However, growth of steel pipes market is predicted to decelerate during the forecast period. Adoption rate of steel pipes is decreasing due to their high cost and rising prevalence of alternative products such as plastic pipes due to their low cost and light weight. Moreover, low penetration rate of steel pipes in areas except oil & gas industries is expected to hamper the growth of global steel pipes market in near future.
Key Players
ArcelorMittal, Company Overview, Key Product Offerings, Business Strategy, SWOT Analysis, Financials, Nippon Steel & Sumitomo Metal Corporation, Hebei Iron & Steel Group, Baosteel, Wuhan Iron & Steel Group, Posco, Jiangsu Shagang, Tata Steel Group, Hyundai Steel Company, JFE Steel Corporation
To Know More About This Research, Kindly Visit: https://www.researchnester.com/reports/steel-pipes-market-global-historical-growth-2012-2016-future-outlook-2017-2024-demand-analysis-opportunity-evaluation/493
Moreover, high strength and durability of steel pipes are one of the key reasons which are likely to fuel the growth of market. On the basis of regional platform, global steel pipes market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
For Sample Pages please go through link below: https://www.researchnester.com/sample-request/2/rep-id-493
Further, Asia Pacific region is the largest market of steel pipes. High construction activities and developing oil & gas industries are some of the major factors which are expected to allow Asia Pacific to continue its dominance during the forecast period. Moreover, China alone stood at around 30% share in revenue of global market in 2016 and is anticipated to dominate the Asia Pacific steel pipe market during the forecast period.
North America is the second leading market in steel pipes and is expected to witness satisfactory growth during the forecast period. Factors such as presence of large number of oil and gas industries and growing use of steel pipes in fire sprinkler system are envisioned to foster the growth of North America steel pipes market over the forecast period.
Additionally, Europe region is also projected to grow at an acceptable pace during the forecast period. This growth in Europe region can be attributed to growing demand for steel pipes in end use industries in this region.
Market Segmentation
Our-in depth analysis of the global steel pipes market includes the following segments:
By Region
Global steel pipes market is further classified on the basis of region as follows: North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis, Latin America (Brazil, Mexico, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis, Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis, Asia-Pacific (China, India, Japan, Singapore, Australia, New Zealand, Rest of Asia) Market size, Y-O-Y growth & Opportunity Analysis. Middle East and Africa (GCC, North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis.
Growth Drivers & Challenges
Global steel pipes market is primarily driven by factors such as growing construction activities and development of oil & gas industries across the world. Steel pipes have high strength and high thermal resistant. Such features of steel pipes make them more suitable to use in areas like water pipes, oil & gas pipes and sewage pipes. Further, growing adoption rate of steel pipes in different areas is likely to drive the growth of global market.
Moreover, steel pipes are used in fire sprinkler system due to their ability to operate in high temperature zone. This rise in demand for steel pipes in fire sprinkler system installation is expected to drive the market in near future. Additionally, use of structural steels in pole, fencing, handrails exhaust pipes and for oil & gas are also driving the demand for steel pipes globally.
Furthermore, rapid urbanization and development of new industries is also a major factor anticipated to foster the growth of global steel pipes market. The oil & gas industries are projected to capture maximum market share during the forecast period. Moreover, growing oil & gas industries are likely to drive the growth of global steel pipes market in near future.
Request For TOC Here: - https://www.researchnester.com/toc-request/1/rep-id-493
However, growth of steel pipes market is predicted to decelerate during the forecast period. Adoption rate of steel pipes is decreasing due to their high cost and rising prevalence of alternative products such as plastic pipes due to their low cost and light weight. Moreover, low penetration rate of steel pipes in areas except oil & gas industries is expected to hamper the growth of global steel pipes market in near future.
Key Players
ArcelorMittal, Company Overview, Key Product Offerings, Business Strategy, SWOT Analysis, Financials, Nippon Steel & Sumitomo Metal Corporation, Hebei Iron & Steel Group, Baosteel, Wuhan Iron & Steel Group, Posco, Jiangsu Shagang, Tata Steel Group, Hyundai Steel Company, JFE Steel Corporation
To Know More About This Research, Kindly Visit: https://www.researchnester.com/reports/steel-pipes-market-global-historical-growth-2012-2016-future-outlook-2017-2024-demand-analysis-opportunity-evaluation/493
Contact Information:
Research Nester
Ajay Daniel
Tel: +1 6465869123
Email us
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Research Nester
Ajay Daniel
Tel: +1 6465869123
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results