According to a new market report published by Lucintel, the future of the global industrial seamless steel pipe market looks promising with opportunities in the power generation, petrochemical, industrial plant processing, and automotive industries. The global industrial seamless steel pipe market is expected to decline in 2020 due to global economic recession led by COVID-19. However, market will witness recovery in the year 2021 and it is expected to reach an estimated $5.1 billion by 2025 with a CAGR of 1% to 3% from 2020 to 2025. The major drivers for this market are growing demand of seamless steel pipe in power generation and automotive industries due to its superior tensile strength and high corrosion & pressure resistance.
Browse 138 market data tables and 170 figures spread through 245 pages and in-depth TOC on “Global Industrial Seamless Steel Pipe Market"
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In this market, different types of industrial seamless steel pipe such as hot finished seamless pipe and cold finished seamless pipe are used as process. On the basis of comprehensive research, Lucintel forecasts that hot finished seamless pipes will remain the largest segment and it is also expected to witness the highest growth over the forecast period because of its low cost and high tolerance & crack resistance.
Within the global industrial seamless steel pipe market, the power generation will remain the largest end use industry over the forecast period due to growing hydro and nuclear power generation plants. The automotive segment is expected to witness the highest growth over the forecast period due to increasing vehicle production.
APAC will remain the largest region and it is also expected to witness the highest growth over the forecast period due to the increasing urbanization, infrastructure development, and the continuous growth of the industrial sectors in this region.
Emerging trends, which have a direct impact on the dynamics of the industrial seamless steel pipe industry, include increasing use of premium and technically advanced pipe by dopeless technology and increasing focus on pipe strength and durability with use of cold finished seamless pipes. Vallourec, Chelpipe, TMK, Tenaris, Baosteel, JFE Steel, US Steel, and TPCO and others are among the major industrial seamless steel pipe manufacturers.
Lucintel, a leading global strategic consulting and market research firm, has analyzed the global industrial seamless steel pipe market by end use industry, process, diameter, pressure rating, and region and has come up with a comprehensive research report entitled “Growth Opportunities in the Global Industrial Seamless Steel Pipe Market 2019-2025: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy as it provides a comprehensive data and analysis on trends, key drivers, and directions. The study includes a forecast for the global industrial seamless steel pipe market by end use industry, process, diameter, pressure rating, and region as follows:
By End Use Industry [Value ($ Million) and Volume (Thousand Tons) from 2014 to 2025]:
Power Generation
Petrochemical
Automotive
Industrial Plant Processing
Others
By Process [Value ($ Million) from 2014 to 2025]:
Hot Finished Seamless Pipes
Cold Finished Seamless Pipes
By Diameter Type [Value ($ Million) and Volume (Thousand Tons) from 2014 to 2025]:
Small Diameter Pipes
Large Diameter Pipes
By Pressure Rating [Value ($ Million) and Volume (Thousand Tons) from 2014 to 2025]:
High Pressure Pipes
Medium Pressure Pipes
Low Pressure Pipes
By Region [Value ($ Million) and Volume (Thousand Tons) from 2014 to 2025]:
North America
United States
Canada
Mexico
Europe
Asia Pacific
The Rest of the World
This 245-page 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 click on this link https://www.lucintel.com/industrial-seamless-steel-pipe-market.aspx or helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.