According to the latest report from Future Market Insights, the electric resistance welded (ERW) pipes and tubes market is projected to reach a substantial value of US$ 71.9 million in 2023. This is not just a statistical point; it’s a testament to the market’s vibrancy and the pivotal role it plays in diverse industries. Moreover, this upward trajectory is anticipated to persist at an impressive Compound Annual Growth Rate (CAGR) of 5.2% between 2023 and 2033, propelling the market to a projected valuation of US$ 119.4 million by 2033.
One of the primary driving forces behind this surge is the worldwide surge in infrastructural development projects. Ambitious initiatives are taking shape in various corners of the globe, from towering skyscrapers to expansive oil and gas pipelines. These undertakings fuel the demand for ERW pipes due to their indispensable role in a wide array of applications within these sectors.
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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.
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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
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
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Author:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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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