Global Hollow bar Market: Overview

Hollow bar is a round mechanical element whose walls are thicker than tubes and pipes. It has the strength of a solid round bar, but since there is no center, there is less weight per foot. This makes it light in weight, without compromising on its strength. Depending upon application, hollow bars can be machined on the inside and the outside. Hollow bars are often specified by their inner diameter (ID) and outer diameter (OD) dimensions. They are used as raw material stock in the manufacture of radially machined components. The use of hollow bar in manufacturing processes minimizes material wastage and reduces the total machining requirements by avoiding the initial drilling operation.

Global Hollow Bar Market: Trends & Developments

Rise in price of steel has made purchase of steel and iron costlier for many manufacturers of bars, hollow bars, tubes, and pipes. Increase in prices of steel is anticipated to adversely affect the manufacturers of hollow bar, as they would be unable to pass on these costs to customers. Hollow bar is preferred by many manufacturers over solid bars, as they help in saving raw material cost by reducing material wastage and significantly lowering or completely eliminating drilling and boring processes. Other benefits of using hollow bar as raw material stock are elimination or reduction in setting-up time and machine cycle times, lower tool costs, lower labor and overhead costs for each component, lower lubricant usage, and lower machinery maintenance costs. Thus, hollow bars numerous benefits over solid metal bars. This is expected to drive the global hollow bar market during the forecast period.

Global Hollow Bar Market: Segmentation

Based on manufacturing process, the global hollow bar market can be bifurcated into centrifugal casting process and drilling process. A suitable process for manufacturing hollow bars is adopted depending on material type, dimensional tolerance requirements, and other parameters. The drilling process involves passing a drill through a solid bar stock of material to remove the excess material to create a hollow bar. This process can help produce highly accurate part dimensions for critical applications. The other method of manufacturing hollow bars is called centrifugal casting process. Under the centrifugal casting process, a round mold is rotated at high speeds as molten metal is poured into the mold. The centrifugal force created by the spinning mold forces the molten material to flow toward the inside mold wall where it cools and hardens. Centrifugal cast hollow bar tends to be dense and uniform.

Global Hollow Bar Market: Regional Outlook

In terms of region, the global hollow bar market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific is expected to dominate the global hollow bar market during the forecast period owing to the rapid industrialization and rise in number of end-use industries, such as automotive and transportation, general engineering, and heavy industries, which depend on raw material stocks such as hollow metal bars. China dominates the hollow bar market in Asia Pacific, as it is the leading manufacturer, consumer, and exporter of hollow bars in the region. The hollow bar market in India is expected to expand at healthy pace during the forecast period. The hollow bar market in In North America is anticipated to expand at a moderate pace during the forecast period. 

Global Hollow Bar Market: Key Players

Key players operating in the global hollow bar market are Scan Tube Steel Services Ltd., Salzgitter Mannesmann Stainless Tubes GmbH, Sandvik AB, Hub Le Bas, voestalpine AG, Van Leeuwen, Renine Metalloys, VALLOUREC, ArcelorMittal, Stalcor, ISMT Ltd., REOSTEEL (PTY) LTD., Ovako AB, COLLIER & MILLER PTD LTD, Timcast Hollowbar, and Eagle Stainless Tube & Fabrication, Inc.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

  • Customer Experience Maps
  • Insights and Tools based on data-driven research
  • Actionable Results to meet all the business priorities
  • Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

  • North America
  • Asia Pacific
  • Europe
  • Latin America
  • The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?

Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.

Custom Market Research Services

TMR offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.


Hollow Bar Market

Pre Book