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 Large Diameter Steel Pipes Market is currently undergoing substantial growth, propelled by a notable upswing in oil and gas production and a growing demand within the transportation sector. This escalating need for large diameter steel pipes can be ascribed to their advantageous physical and chemical properties, including exceptional corrosion resistance and minimal environmental impact.
As of 2023, the global large diameter steel pipes market is anticipated to reach a valuation of US$ 12.6 billion. The expanding utilization of technologically advanced steel pipes with significant diameters and enhanced strength across diverse industries is a key driver for this market growth. According to forecasts by FMI, the market is poised to achieve a valuation of US$ 16.8 billion by 2033, reflecting a Compound Annual Growth Rate (CAGR) of 2.9% from 2023 to 2033. This trajectory underscores the sustained and positive momentum expected in the large diameter steel pipes market over the coming decade.
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The global market for large diameter steel pipes is poised for sustained growth throughout the forecast period, propelled by heightened demand from key sectors such as chemical and oil & gas industries. A significant driver of this expansion is the upswing in oil & gas production, coupled with a surge in demand from the transportation sector. The preference for large diameter steel pipes is underpinned by their advantageous physical and chemical properties, including corrosion resistance and minimal environmental impact.
The robust infrastructural development unfolding in emerging economies, notably India and China, is anticipated to be a pivotal factor driving the growth of the large diameter steel pipe market in the foreseeable future. Concurrently, substantial investments in the oil & gas sector in Europe and North America are poised to amplify the demand for large diameter steel pipes.
The Asia Pacific region, characterized by the rapid growth of the oil and gas sector, as well as flourishing automotive and chemical industries, stands out as a significant contributor to the market’s expansion. This momentum is further fueled by the burgeoning chemical industry and escalating investments in wastewater development systems across developing nations such as China, India, Germany, and others.
The burgeoning applications in the construction and chemical industries have presented lucrative opportunities for market growth. The surge in industrialization has given rise to diverse sectors, including chemical and pharmaceutical, with consequential advances in these industries driving an upswing in demand for large diameter steel pipes. This confluence of factors underscores the optimistic outlook for the large diameter steel pipes market as it continues to evolve in response 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
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer, Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 400 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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