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Metal Pipe Market is anticipated to grow at a CAGR of 6.6% during 2023-2030

06-15-2024 02:32 AM CET | Industry, Real Estate & Construction

Press release from: ABNewswire

Metal Pipe Market Trends and Forecast

Metal Pipe Market Trends and Forecast

The future of the metal pipe market looks promising with opportunities in oil and gas, power generation, automotive, and industrial sectors. The global metal pipe market is expected to reach an estimated $175.2 billion by 2030 with a CAGR of 6.6% from 2024 to 2030. The major drivers for this market are increasing construction of new pipelines for oil and gas, water and wastewater, replacement of aging pipelines, and infrastructure development.
According to the recent study the metal pipe market [https://www.lucintel.com/metal-pipe-market.aspx] is projected to reach an estimated $175.2 billion by 2030 from $108.4 billion in 2023, at a CAGR of 6.6% from 2023 to 2030. Growth in this market is primarily driven by increasing construction of new pipelines for oil and gas, water and wastewater, replacement of aging pipelines, and infrastructure development.

Browse 129 figures / charts and 102 tables in this 195 -page report to understand trends, opportunities and forecast in metal pipe market by end use industry (oil and gas, potable water, wastewater, power generation, automotive, HVAC and electrical, and others), material (steel pipes, ductile iron pipes, copper pipes, and other material pipes), diameter (small diameter pipes (up to 15 inches) and large diameter pipes (15 inches and above), pressure ratings (0-300 psi, 300-1000 psi, 1000- 3000 psi, and 3000 and above psi pressure pipes), and region (North America, Europe, Asia Pacific, and the Rest of the World).

"Steel pipes market is expected to remain the largest segment during the forecast period."

Based on material, the metal pipe market is segmented into steel pipes, ductile iron pipes, copper pipes, and other material pipes. Lucintel forecasts that the steel pipes market is expected to remain the largest segment due to increasing demand in oil and gas, power generation and automotive industries.

"Within the metal pipe market, the oil and gas segment is expected to remain the largest end use industry"

Based on end use industry the oil and gas segment is expected to witness the highest growth over the forecast period due to increase in oil and gas exploration and production activities.

"North America will dominate the metal pipe market in near future"

North America is expected to remain the largest region due to increase in oil and gas exploration activities. APAC is expected to witness the highest growth over the forecast period due to increasing infrastructure development, urbanization, and government economic stimulus measures in this region.

Major players of metal pipe market are adopting various growth strategies like new product launches, expansions, merger and acquisitions, partnerships, agreements, and collaborations to expand their presence in this market. Tenaris, Vallourec, TMK, Saint Gobain, ArcelorMittal, Nippon Steel and Sumitomo Metals, United States Steel Corporation, Mueller Industries, Kaiser Aluminum, Amiantit, and Northwest Pipe are among the major metal pipe providers.

This unique 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 write us at helpdesk@lucintel.com

About Lucintel

At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times. For further information, visit www.lucintel.com Contact: Roy Almaguer Lucintel Dallas, Texas, USA Email: roy.almaguer@lucintel.com Tel. 972.636.5056 Cell: 303.775.0751

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Company Name: Lucintel
Contact Person: Roy Almaguer
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