New Research: Lucintel Predicts a Bright Future for the Steel Pipe Market

Did you know that Lucintel recently published a market research report entitled “Growth Opportunities in the Global Steel Pipe Industry”?

This market report for steel pipe identifies and predicts future opportunities for growth in global steel pipe industry for various segments as well as for various regions such as North America, Europe, Asia Pacific, and the Rest of the World. It also identifies growth opportunities for steel pipe in the oil and gas, water and wastewater, power generation, automotive, and other industrial sector.

According to Lucintel’s market report, the global steel pipe market is expected to reach an estimated $68.4 billion by 2024 with a CAGR of 1.6% from 2019 to 2024. Some of the dominant players in the global steel pipe market are Tenaris, Vallourec, TMK, ArcelorMittal, Nippon Steel and Sumitomo Metals, United States Steel Corporation, Chelpipe, Tata Steel and others.

There are some interesting developments in global steel pipe market as competition heats up and players try to increase their market share. Some of the emerging trends shaping the market dynamics include the increasing use of premium and technically advanced pipe by using dopeless technology and increasing use of multilayer pipes for strength and durability.

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