Dublin, Oct. 18, 2021 (GLOBE NEWSWIRE) -- The "Electric Resistance Welded (ERW) Pipes and Tubes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Electric Resistance Welded (ERW) Pipes and Tubes estimated at 62.3 Million Tons in the year 2020, is projected to reach a revised size of 85.3 Million Tons by 2026, growing at a CAGR of 5.5% over the analysis period.
Post pandemic growth in the ERW line pipes is expected to increase driven by the plans of major oil & gas, fertilizer and power companies to establish cross-country line pipes. Recovery in oil and gas prices and resurgence in drilling budgets is expected to encourage growth opportunities for OCTG and Line pipes worldwide. Rising investments in sectors such as power generation and automotive and increasing government investments in infrastructure projects such as water and sewage systems promote market expansion.
Mechanical Steel Tubing, one of the segments analyzed in the report, is projected to grow at a 5.1% CAGR to reach 23.6 Million Tons by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the Line Pipes segment is readjusted to a revised 5.8% CAGR for the next 7-year period. This segment currently accounts for a 22.5% share of the global Electric Resistance Welded (ERW) Pipes and Tubes market.
Mechanical Steel tubing finds applications in mechanical machinery, material handling, and in other industrial commercial equipment. In recent years, mechanical tubing is being increasingly used by automakers for making hydroformed tubular steel components such as rails, cross members for framing, cradles, and pillars.
Demand for line pipes depends on the level of pipeline construction activity, replacement requirements of line pipe, utility purchasing programs, and new residential construction activity. Market for line pipes continues to be supported by demand for replacement and maintenance as well as pipeline projects.
The U.S. Market is Estimated at 5.4 Million Tons in 2021, While China is Forecast to Reach 27.2 Million Tons by 2026
The Electric Resistance Welded (ERW) Pipes and Tubes market in the U.S. is estimated at 5.4 Million Tons in the year 2021. The country currently accounts for a 8.28% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 27.2 Million Tons in the year 2026 trailing a CAGR of 6% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.8% and 4.5% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 4% CAGR while Rest of European market (as defined in the study) will reach 29 Million Tons by the end of the analysis period.
Asia-Pacific represents the largest regional market, driven by increasing industrialization in the region, followed by rapid infrastructural growth. This is largely attributed to the strong economic growth of individual countries in these regions, and the increased activity in end-use sectors such as oil, power, and refineries.
Growth in the US market is primarily attributed to the recovery in E&P spending amid the nation`s exceptional emphasis on tapping the huge reserves of shale plays to meet the escalating demand for energy and to achieve energy security.
Structural Steel Pipes & Tubing Segment to Reach 19.5 Million Tons by 2026
Structural Steel Pipes & Tubing segment is expected to witness heightened demand due to surge in number of high rise buildings, particularly in emerging economies. Structural tubes are used in high-rise buildings to enable them to resist lateral loads from wind, and seismic pressures.
In the global Structural Steel Pipes & Tubing segment, USA, Canada, Japan, China and Europe will drive the 5.3% CAGR estimated for this segment. These regional markets accounting for a combined market size of 7.8 Million Tons in the year 2020 will reach a projected size of 11.2 Million Tons by the close of the analysis period.
China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach 6.2 Million Tons by the year 2026.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Positive Outlook Spells Rebound for ERW Pipes and Tubes Market
OCTG Pipes Report a Recovery after Strong Decline amid the Oil and Gas Industry Turbulence
Oil and Gas Industry Shows Signs of Recovery from COVID-19 Induced Crises
Oil and Gas Companies Set to Adjust Spending in Near Term
Electric Resistance Welded (ERW) Pipes & Tubes: An Introduction
Production of ERW Pipes
Types of ERW Welding Processes
Applications/Uses of ERW Pipes
Classification of ERW Pipes
Recent Market Activity
2. FOCUS ON SELECT PLAYERS (Total 116 Featured)
Al Jazeera Steel Products Company SAOG
APL Apollo Tubes Limited (APL)
Arabian Pipes Company
Choo Bee Metal Industries Berhad
EVRAZ North America
JFE Steel Corporation
Maharashtra Seamless Limited
Nippon Steel & Sumitomo Metal Corporation
PT Bakrie Pipe Industries
Salzgitter Mannesmann Line Pipe GmbH
Surya Roshni Ltd.
Tata Steel Europe
Techint Group SpA
United States Steel Corporation
United Metallurgical Company /OMK
Welspun Corp Ltd.
Wheatland Tube Company
3. MARKET TRENDS & DRIVERS
Rig Counts and Drilling activity Trends Define the Demand for OCTG Pipes
Unconventional Oil & Gas Resources Trigger Demand for High Grade OCTG Products
Deep Water Drilling Offer New Growth Opportunities
Growth in Pipeline Projects to Drive the Demand for Line Pipes
Tough Operating Environments Drive Demand for High Quality Line Pipes
Shale Plays Drive Demand for High Strength Pipes
Aging Pipelines Drive Replacement Demand
Improvement in Manufacturing Sector Boosts Prospects
Mechanical Tubing Market Prospects
Automotive Industry: Another Important End-Use market for ERW Tubes
Impact of the Pandemic on the Automotive Industry
Post COVID-19 Recovery in Automobile Industry to drive Demand
Revival in the Construction Sector to Lend Opportunities
Surge in Number of High Rise Buildings Boost Prospects for Structural Steel Pipes
Faster Acceleration in E-Commerce Induced by the Pandemic and Warehouse Construction to Drive Demand
Rise in Modular Building to Drive HSS
Pressure Application to Drive Demand for Pressure Tubings
4. GLOBAL MARKET PERSPECTIVE
III. REGIONAL MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/nwit7e
CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager firstname.lastname@example.org For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900