Welded Pipes Market
Welded pipes market is projected to be worth USD 355.69 Billion by 2030, registering a CAGR of 5.2% during the forecast period (2022 - 2030), The market was valued at USD 225.15 billion in 2021.
MRFR recognizes the following companies as the key players in the global welded pipes market Arcelormittal (US), Evraz Plc (Russia), Napsteel (US), Sandvik AB (Europe), US Steel Tubular Products (US), Associated Pipeline Contractors Inc (US), Foshan Zhongde Stainless Steel Co., Ltd (Russia), Benteler International AG (Europe), Samuel Associated Tube Group (Europe), and Marmon Keystone Canada, Inc (US).
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Market Highlights
The global welded pipes market is driven by various factors, such as the rise in demand for welded pipes in end-use industries and the growing construction industry. However, fluctuating raw material prices might hamper market growth during the forecast period. The development of infrastructure for new oil and gas reserves is expected to create opportunities for players operating in the global market.
Segment Analysis
The global welded pipes market is mainly segmented into materials, product type, and application. On the basis of materials, the welded pipes market has been sub-segmented carbon steel, stainless steel, and alloy steel. On the basis of product type, the welded pipes market has been segmented into process pipes, mechanical tubes, heat exchanger tubes, structural tubes, and hydraulic instrumentation tubes. Based on application, the welded pipes market has been segmented into oil gas, power generation, infrastructure construction, automotive, and mechanical engineering.
Regional Analysis
The global Welded Pipes Market has been segmented on the basis of region into North America, Europe, Asia-Pacific, Middle East Africa, and South America. The North American market is further divided into the US, Canada, and Mexico. The European welded pipes market has been segmented into Germany, France, the UK, Italy, and the rest of Europe. The welded pipes market in Asia-Pacific has been categorized into China, India, Japan, and the rest of Asia-Pacific. The rest of the world includes Middle East Africa and South America.
The region has witnessed significant growth in the construction sector owing to the increasing investments in real estate by construction companies. The construction activities of commercial buildings such as complexes and offices are increasing as the business hubs are becoming overpopulated, creating demand for new complexes. The data of the International Organization of Motor Vehicle Manufacturers, in 2017, shows the total motor vehicle production in the region, in which, the US was the highest vehicle producer, while Mexico showed a significant vehicle production with a 13% growth rate compared to 2016. Additionally, the US is the largest producer of nuclear power and accounted for approximately 30% of the global share.
Europe holds the second-largest share in the overall welded pipes market. Increasing reconstruction of the existing infrastructure, rising environmental concerns, and shifting preference toward cost-effective construction are factors driving the growth of the welded pipes market in Europe. Moreover, unconventional oil and gas exploration activities such as the production of natural gas from shale formations is driving the market in the region. The region has witnessed significant growth in the construction industry, specifically visible in North-Western Europe that comprises countries including the UK, France, Denmark, the Netherlands, and Belgium among others.
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Key Findings of the Study
- The Asia-Pacific region accounted for the largest share of 4% in the global market in 2018, which is majorly attributed to the growing construction industry and rise in demand for welded pipes in industries.
- Based on material, the alloy steel segment is expected to register a CAGR of 5.49% during the forecast period.
- On the basis of product type, the process pipes dominated the market with a share of 47.5% in 2018.
- Based on application, the oil gas segment is anticipated to register a CAGR of 5.23% during the forecast period.
- Some of the key players operating in the welded pipes market are Arcelormittal (US), Evraz Plc (Russia), Napsteel (US), Sandvik AB (Europe), US Steel Tubular Products (US), Associated Pipeline Contractors Inc (US), Foshan Zhongde Stainless Steel Co., Ltd (Russia), Benteler International AG (Europe), Samuel Associated Tube Group (Europe), and Marmon Keystone Canada, Inc (US) among others.
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