The worldwide market for electric resistance welded (ERW) pipes and tubes is poised for substantial growth, with a projected value of US$ 71.9 million in 2023, according to a report from Future Market Insights. This market is anticipated to experience a notable Compound Annual Growth Rate (CAGR) of 5.2% during the period spanning from 2023 to 2033, ultimately reaching an estimated value of approximately US$ 119.4 million by 2033.
Global demand for electric resistance welded (ERW) pipes is undergoing significant transformations, particularly influenced by the evolving needs of the oil and gas as well as the construction sectors. Historically, ERW pipes were primarily utilized in applications such as oil and gas pipelines and sewage transportation. However, their enhanced load-bearing capabilities have opened up new avenues in various industries, including infrastructure development, pre-fabricated structures, solar energy plants, furniture production, and more. These changes reflect the expanding versatility and utility of ERW pipes beyond their traditional applications.
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The post-pandemic resurgence in the electric resistance welded (ERW) line pipes segment has generated a notable upswing in the pipes and tubes market. This upturn has spurred leading entities in the oil and gas, as well as power industries, to formulate strategic initiatives for the deployment of cross-country line pipe infrastructure. Additionally, the recovery of oil and gas prices, coupled with the reinvigoration of concise budget allocations, is expected to create favorable growth prospects for the global Line pipes sector.
The heightened level of investment activities in key sectors such as power generation and automotive underscores the increasing commitment of governments worldwide to bolster infrastructural development projects, including those related to water and sewage systems. These investments are poised to serve as catalysts for market expansion and offer promising avenues for growth in the near future.
North America: A Lucrative Market with U.S. at the Helm
Market Dominance in North America
The electric resistance welded (ERW) pipes and tubes market in North America commands a substantial 51.6% market share, with the United States alone estimated to reach a market value of US$ 21.4 million during the forecast period. Currently, the United States holds a 5.2% share in the global market, driven by robust economic growth in the region and increased activity across critical sectors such as oil, power, and refineries.
U.S. Growth Dynamics
The growth trajectory in the United States is primarily attributed to a resurgence in expenditure, particularly in the realm of energy infrastructure. The nation’s focused investments are poised to meet the escalating energy demand and ensure energy security.
Asia Pacific: Dominating the ERW Pipes and Tubes Market
Leading the Global Market
Asia Pacific emerges as the frontrunner in the global ERW pipes and tubes market, commanding a substantial revenue share of over 44%. Notably, China is projected to further bolster its position with a noteworthy CAGR of 5.1% from 2023 to 2033, translating to a substantial market value of US$ 27.7 million.
Japan’s Impact
Japan also plays a significant role in this market, contributing notably with a CAGR of 4.3%, resulting in a market worth of US$ 16.2 million. The region’s consumers are driving this growth, reflecting a robust demand for ERW pipe products.
Key Players Profiled:
- Nippon Steel & Sumitomo Metal Corporation
- EVRAZ North America
- Northwest Pipe Company
- TMK IPSCO, Welspun
- Wheatland Tube Company
- ChelPipe
- Techint Group
- JFE Steel Corporation
- Arabian Pipes Company
- ArcelorMittal SA
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Key Segments Covered:
By Country:
- North America
- Latin America
- Europe
- Asia Pacific
- The Middle East and Africa
By Type:
- Pressure Tubing
- Standard Pipes
By Application:
- Oil and Gas
- Chemical, Mining
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 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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