The Large Diameter Steel Pipes Market report, unveiled by Future Market Insights—an ESOMAR Certified Market Research and Consulting Firm—presents invaluable insights and meticulous analysis of the Large Diameter Steel Pipes market. Encompassing the research’s scope and essence, this report scrupulously examines the driving factors, market size, and predictive data for Large Diameter Steel Pipes. It furnishes intricate revenue and shipment segmentations, accompanied by a decade-long projection up to 2033. Additionally, the document evaluates key industry players, their market distribution, the competitive scenario, and regional perspectives.
The current surge in the Large Diameter Steel Pipes Market is propelled by robust growth in the oil and gas production sector and increasing demand within transportation. This demand surge can be attributed to the favorable physical and chemical properties of large diameter steel pipes, including exceptional corrosion resistance and minimal environmental impact.
As of the latest data available in 2023, the global large diameter steel pipes market is poised to reach a valuation of US$ 12.6 billion. The rising adoption of technologically advanced steel pipes with substantial diameters and improved strength across various industries is a significant factor driving market expansion. According to projections by FMI, the market is expected to achieve a valuation of US$ 16.8 billion by 2033, with a Compound Annual Growth Rate (CAGR) of 2.9% from 2023 to 2033. This forecast indicates sustained and positive momentum in the large diameter steel pipes market over the next decade.
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The global market for large diameter steel pipes is poised for sustained growth over the forecast period, driven by increased demand from key sectors such as the chemical and oil & gas industries. The expansion is primarily fueled by the upswing in oil & gas production and the growing demand from the transportation sector. Large diameter steel pipes are preferred due to their advantageous physical and chemical properties, including corrosion resistance and minimal environmental impact.
Robust infrastructural development in emerging economies, particularly India and China, is expected to play a pivotal role in driving the growth of the large diameter steel pipe market in the foreseeable future. Additionally, significant investments in the oil & gas sector in Europe and North America are set to boost the demand for large diameter steel pipes.
The Asia Pacific region, characterized by rapid growth in the oil and gas sector, as well as flourishing automotive and chemical industries, emerges as a significant contributor to the market’s expansion. This momentum is further propelled by the growing chemical industry and increasing investments in wastewater development systems across developing nations such as China, India, Germany, and others.
The increasing applications in the construction and chemical industries present lucrative opportunities for market growth. The surge in industrialization has led to the development of diverse sectors, including chemical and pharmaceutical, resulting in heightened demand for large diameter steel pipes. This combination of factors underscores the optimistic outlook for the large diameter steel pipes market as it continues to adapt to global industrial dynamics.
Key Takeaways from the Market Study
- From 2018 to 2022, the market demand expanded at a CAGR of 4.8%
- Based on the application, the oil & gas segment accounts for a CAGR of 3.4%
- By type, the LSAW pipe segment is expected to expand at a CAGR of 3.2% during the forecast period
- North America to emerge as a promising market, capturing a CAGR of 2.8%
- Asia Pacific to be an opportunistic market, expected to capture a CAGR of 2.8% during the forecast period.
“Growing demand in the end-use industry and technological innovation in large diameter steel pipes are expected to drive the market in the forecast period.”
Competitive Landscape
American Cast Iron Pipe Company; American Piping Products, Inc.; Borusan Mannesmann Boru Sanayi ve Ticaret A.S.; Baoji Petroleum Steel Pipe Co., Ltd.; BERG PIPE are some of the leading players operating in large diameter steel pipes market.
Some of the recent development in the market are listed below-
- In July 2021 – American Piping Products (APP) announced the expansion of their North Houston Rosslyn steel pipe yard and processing center. The new lease adds approximately 10 acres to the already 20-acre facility.
- In November 2022 – Summit carbon solutions announce a partnership with American steel pipe to purchase American-made, high-strength steel line pipes. These pipes are used in support of Summit’s transformative carbon capture, transportation, and storage projects.
Know More about What the Large Diameter Steel Pipes Market Report Covers
Future Market Insights offers an unbiased analysis of the global large-diameter steel pipes market, providing historical data for 2018 to 2022 and forecast statistics from 2023 to 2033.
To understand opportunities in the large-diameter steel pipes market, the market is segmented based on the type and application across five major regions.
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Key Segments Covered in the Large-Diameter Steel Pipes Industry Analysis
By Type:
- LSAW
- SSAW
By Application:
- Oil & Gas
- Water Treatment
- Chemical
By Region:
- North American
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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