Global Steel Pipe Market: Overview
Increasing construction activities across the world is one factor propelling the global steel pipe market. The market is projected to grow owing to the development of oil and gas industries. Further, steel pipes are preferred in various commercial and household applicatios for their several benefits. Some of those include tensile strength, durability, fire resistance, corrosion resistance, and so forth. This is expected to drive their market too.
An upcoming report by Transparency Market Research on the global steel pipe market would help readers analyze world demand for steel pipe in near future. Further, it will help them gauge various micro and macro-economic factors associated with it. This compilation is intended to provide a comprehensive view of the opportunities and challenges witnessed by the global steel pipe market. Furthermore, a detailed analysis on geographical region will offer a brief idea of the global steel pipe market.
Global Steel Pipe Market: Trends and Opportunities
The global steel pipe market is expected to grow during the upcoming years owing to the features of steel such as reliability and durability. The wide range of usability of the steel pipe has increased demand of steel pipe in the market. The growing demand of replacing ageing pipes with the steel pipes i boost the global demand of steel pipes. The increased demand of steel pipes is another factor propelling growth of the global steel pipe market. Moreover, steel pipes are ideal to carrying flammable gas owing to their non-reactive property.
On the other side, however, the availability of substitutes like iron and plastic pipes and high cost associated with the installation of the steel pipes are some factors estimated to restrain growth of the market. However, the increasing usage of steel pipes in agriculture and irrigation, building and construction, sewerage systems, fire sprinkler systems, industrial water lines, plant piping andother areas will ensure the market’s growth.
Global Steel Pipe Market: Geographical Analysis
Global steel pipe market can be segmented into the five key regions, namely, North America, Latin America, Europe, Asia Pacific, and the Middle East and Africa. Among them, Asia Pacific is expected to hold the largest market share in the global steel pipes market. This is due to increasing constructional activities and developing oil and gas industries in the region. These are some of important factors which may allow Asia Pacific to continue its dominance in the upcoming years.
Global Steel Pipe Market: Competitive Landscape
Some of the dominant players in the global steel pipe market are ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Hebei Iron & Steel Group, Baosteel, and Wuhan Iron & Steel Group. These players are increasing their product portfolio so as to stay ahead of each other and increase their shares in the global steel pipe market.
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The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
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- Reporting and evaluation of recent industry developments
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