Press release
Seamless Pipes Market 2024-2033: Future Outlook, Industry Share, Global Trends And Key Players Analysis
Seamless Pipes Market
The Business Research Company offers in-depth market insights through Seamless Pipes Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The seamless pipes market size has grown steadily in recent years. It will grow from $235.59 billion in 2023 to $245.82 billion in 2024 at a compound annual growth rate (CAGR) of 4.3%. The growth in the historic period can be attributed to strong economic growth in emerging markets and increasing government initiatives to support steel and steel products, including seamless pipes.
The seamless pipes market size is expected to see steady growth in the next few years. It will grow to $293.81 billion in 2028 at a compound annual growth rate (CAGR) of 4.6%. The growth in the forecast period can be attributed to the growing oil and gas industry, installation of new transmission pipelines, expanding chemical industry and rapid industrialization and growth in manufacturing industries. Major trends in the forecast period include focus on investments in low-emission furnaces, focus on developing new technological solutions, focus on research and development (r&d) facility expansion, focus on mergers and acquisitions and focus on developing new, innovative products.
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Market Segmentation:
The seamless pipes market covered in this report is segmented -
1) By Type: Hot Finished Seamless Pipes, Cold Drawn Seamless Pipes
2) By Materials: Steel And Alloys, Copper And Alloys, Nickel And Alloys, Magnesium Alloys, Other Materials
3) By Production Process: Continuous Mandrel Rolling, Mannesmann Plug Mill Process, Cross-Roll Piercing, Pilger Rolling
4) By Application: Oil And Gas, Building And Construction, Power Generation, Automotive, Aviation, Other Applications
Major Driver - Seamless Pipes Market Growth Fueled By Expansion Of Transmission Pipelines Worldwide
The installation of new transmission pipelines is expected to propel the growth of the seamless pipes market going forward. Transmission pipelines refer to large-diameter steel pipes, used to transport crude oil from their respective gathering systems to refining, processing, or storage facilities. Transmission pipelines help the seamless pipes market grow by operating at high pressure and temperature to move natural gas from compressor stations and storage facilities to regulators. For instance, in November 2022, according to the US Energy Information Administration (EIA) (a US-based principal agency responsible for collecting, analyzing, and disseminating energy information), new transmission pipelines with approximately 3 million miles of mainline were built, and additional pipelines are being built to connect natural gas production areas and storage facilities with consumers. In 2021, this natural gas transportation network delivered approximately 27.6 trillion cubic feet of natural gas to approximately 77.7 million consumers. Therefore, installing new transmission pipelines across the globe drives the seamless pipes market.
Competitive Landscape:
Major companies operating in the seamless pipes market report are Nippon Steel Corporation, Vallourec SA, Tenaris SA, ArcelorMittal, JFE Holdings, Inc, Sumitomo Corporation, Salzgitter AG, United States Steel Corporation, TATA Steel, Maharashtra Seamless Ltd, Hunan Standard Steel Co., Ltd, Ansteel Group Co., Ltd, Baosteel Trading Co., Ltd, Wuhan Heavy Industry Casting & Forging Co., Ltd, Jiangsu Wujin Stainless Steel Pipe Group Co., Ltd, Jindal Saw Ltd, Sandvik AB, IPP Europe Ltd., Tubos Reunidos S., TMK Group., Zekelman Industries Inc., Zamzam Steel, Santok Steel Corporation, ArcoSteel, AK Steel Holding
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Top Trend - Rising Significance Of Technological Advancements In The Seamless Pipes Market
Technological advancements are a key trend gaining popularity in the seamless pipes market. Major players operating in the seamless pipes market are focusing on developing innovative products for various industries such as oil and gas, hydrogen energy, and others to strengthen their position in the market. For instance, in July 2021, TMK Company, a Russia-based manufacturer of seamless pipes developed smart pipes for trunk gas pipelines with Gazprom, a state-owned multinational energy corporation based in Russia. The world's first technical solution was developed to monitor and diagnose pipeline infrastructure integrity. The pipes have uniquely built-in sensors, which provide updates on gas pipeline stress-strain behavior in real time and assess its remaining service life to prevent emergencies.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Seamless Pipes Market Characteristics
3. Seamless Pipes Market Trends And Strategies
4. Seamless Pipes Market - Macro Economic Scenario
5. Seamless Pipes Market Size And Growth
…..
27. Seamless Pipes Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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