Press release
Global Seamless Steel Tube Market Top Leading Players with Strategies and Forecast 2028
The global seamless steel tube market is anticipated to grow at a significant CAGR of 3.2% during the forecast period (2022-2028). Seamless steel tubes are generally used in petroleum geological pipes, cracking pipes for the petrochemical industry and boiler pipes, bearing pipes, and structural steel pipes in the automobile and aviation industry. The global seamless steel tube market is growing due to the rising demand from the oil and gas industry. This is because the high efficiency of seamless steel tubes is in demand due to the total carbon emission. The global market is also growing due to their various application such as ultra-supercritical pressure boilers, pressurized fluidized bed boilers, heat recovery steam generators of gas turbine combined cycle, and high-efficiency industrial waste incineration boilers in different industries and are in demand due to their high quality and performance. Additionally, the rising oil prices are leading to the increasing efficiency of advanced infrastructure. The seamless steel tubes are used for the advancement in the infrastructure by the construction of new transmission lines needed to transport oil and gas from drilling sites to customers, and the need for gathering equipment at new drilling sites. These factors are anticipated to propel the growth of the seamless steel tube market in the forecast period.The market players are contributing significantly to the growth of the market by the adoption of various strategies including mergers & acquisitions, geographical expansion, partnerships and collaborations, and new product launches, to stay competitive in the market. For instance-
In February 2022, Maharashtra Seamless Ltd. had acquired 41.82% share in the United Seamless Tubulaar Pvt. Ltd.
In November 2021, Kirloskar had acquired 51.25% share of ISMT Ltd. through a preferential allotment.
In November 2021, China Ansteel Group Corp. Ltd. had developd martensitic stainless steel seamless pipes that will help in the continuous rolling mill high-alloy steel pipe production process. This will also overcome the problem of short service of the martensitic stainless steel perforated plug.
In January 2021, OMK announced its new project on seamless steel tubes and pipes and started installing the equipment.
In January 2020, Tenaris had acquired IPSCO Tubulars, Inc., the US manufacturer of steel pipe and tubes.
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Market Coverage
The market number available for - 2022-2028
Base year- 2021
Forecast period- 2022-2028
Segment Covered-
By Material Type
By End-User
Regions Covered-
North America
Europe
Asia-Pacific
Rest of the World
Competitive Landscape- VALLOUREC, Baosteel Group Hu, JFE Steel Corp., United States Steel Corp., and ArcelorMittal among others.
A full report is available at: https://orionmarketreports.com/global-seamless-steel-tube-market/97871/
Global Seamless Steel Tube Market Report by Segment
By Material Type
Alloy Steel Tubes
Stainless Steel Tube
Carbon Steel Tubes
Others
By End-User
Oil & Gas Industry
Power Industry
Chemical Industry
Aviation & Aerospace
Others
Key questions addressed by the report
What is the market growth rate?
Which segment and region dominate the market in the base year?
Which segment and region will project the fastest growth in the market?
How has COVID-19 impacted the market?
Deviation from the pre-COVID-19 forecast
Most affected region and segment
Who is the leader in the market?
How players are addressing challenges to sustain growth?
Where is the investment opportunity?
Media Contact:
Company Name: Orion Market Reports
Contact Person: Mr. Anurag Tiwari
Email: info@orionmarketreports.com
Contact no: +91 780-304-0404
About Us:
Orion Market Reports (OMR) endeavors to provide exclusive blend of qualitative and quantitative market research reports to clients across the globe. Our organization helps both multinational and domestic enterprises to bolster their business by providing in-depth market insights and most reliable future market trends. Our reports address all the major aspects of the markets providing insights and market outlook to global clients.
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