Reportlinker on trends, opportunities and forecast in metal pipe market to 2023 by end use industry (oil and gas, potable water, wastewater, power generation, automotive, HVAC and electrical, and others), material (steel pipes, ductile iron pipes, copper pipes, and other material pipes), diameter (small diameter pipes (up to 15 in.) and large diameter pipes (15 in. and above), pressure ratings (0 - 300 psi, 300 - 1000 psi, 1000 - 3000 psi, and 3000 and above psi pressure pipes) and region.
The global metal pipe market looks promising with opportunities in oil and gas, power generation, automotive and industrial sectors. The global metal pipe market is expected to reach an estimated US$97.7 billion by 2023 with a CAGR of 3.9% from 2018 to 2023. The major drivers for this market are increasing construction of new pipelines for oil and gas, water and wastewater, replacement of ageing pipelines, and infrastructure development.
Emerging trends which have a direct impact on the dynamics of the metal pipe industry include the increasing use of premium and technically advanced pipe and development of multilayer pipe for strength and durability.
The study includes the metal pipe market size and forecast for the global metal pipe market through 2023, segmented by end use industry, material, diameter, pressure and region.
Some of the metal pipe companies profiled in this report include Tenaris, Vallourec, TMK, Saint Gobain, ArcelorMittal, Nippon Steel and Sumitomo Metals, United States Steel Corporation, Muller Industries, Kaiser Aluminum, Amiantit, and Northwest Pipe and others.
On the basis of comprehensive research, Lucintel forecasts that the steel pipe is expected to remain the largest segment and witness highest growth over the forecast period due to increasing demand in oil and gas, power generation and automotive industries.
Within the global metal pipe market, oil and gas will remain the largest end use industry during the forecast period due to increase in oil and gas exploration and production activities.
North America is expected to remain the largest region due to increase in oil and gas exploration activities. APAC is expected to witness the highest growth over the forecast period due to increasing infrastructure development, urbanisation, and government economic stimulus measures in this region.
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Read the article online at: https://www.worldpipelines.com/business-news/05022019/forecast-of-the-global-metal-pipe-market/