Scoop has an Ethical Paywall
Stainless Steel Welded Pipe Market Is Expected To Exhibit An Impressive CAGR Of 4.4% Through 2031
Global stainless steel welded pipe market is expected to reach US$ 16.36 Bn in 2021 with a stable long-term projection, according to latest insights from Future Market Insights, an ESOMAR-certified research and consulting firm. The report offers analysis of 20+ high-growth markets, providing detailed insights on the stainless steel welded pipe market’s growth in the next decade.
Demand for stainless steel welded pipes decelerates as operations across construction, automotive, water supply and distribution, oil and gas, petrochemical and fertilizers, power generation, and other sectors were hampered amid COVID-19 outbreak. However, considering the possibility of a stimulus for infrastructure projects in many countries, the long-term outlook of the market remains positive.
Surge in demand for stainless steel welded pipes from applications such as oil and gas will remain a chief growth driver due to the presence of oil rigs all over the globe. For the transportation of the fluid from one place to another, large quantity of pipes are required, which will drive the sales in the market. The same applies with the water supply and distribution segment because the demand is expected to surge amid rising need for uninterrupted water supply.
Request a sample
of this report:
https://www.futuremarketinsights.com/reports/sample/rep-gb-7392
The replacement of old pipes with new stainless steel welded pipes can also provide a boost in the sales of stainless steel welded pipes. The substantial increase in the demand from the supplier side and from the end-use industries across the globe is propelling the stainless steel welded pipe market growth.
The use of stainless steel welded pipes in construction and automotive and power generation applications will create solid opportunities for growth. According to FMI, the construction sector is expected to account for nearly 29% of sales in the market by 2031. Investment in residential, commercial, and infrastructural construction projects will increase in the future, paving way for the expansion of the market.
Key Takeaways
- Stainless steel welded pipe market is expected to grow at 4.6% CAGR between 2021 and 2031
- Investment in construction projects will remain a chief growth driver in the U.S., enabling it to account for nearly 72% sales in North America
- Focus on improving public infrastructure will drive growth in the U.K. market at 5.5% CAGR between 2021 and 2031
- India is expected to register increasing investment in water supply and distribution to ensure safe drinking water to all citizens and support industrialization. This will create attractive opportunities for stainless steel welded pipe sales
- China will emerge as a highly lucrative market in East Asia, accounting for maximum sales of stainless steel welded pipes
“As competition continues to grow, companies operating in the market are likely to adopt strategies for strengthening their global footprint. Besides expanding operations across emerging nations, they are likely to focus on launching better quality stainless steel welded pipes to gain competitive edge” says FMI analyst.
Stainless steel welded pipe market is likely to grow at a moderate pace during 2021-2031. However, as it is a matured market, companies are expected to concentrate further on research and development activities to develop more in the field of construction, oil & gas and water supply and distribution, majorly focusing on the outer diameter required for the specific applications. Collaboration with local players and developing new technology in the form of advanced stainless steel welded pipes is a prime strategy expected to increase in popularity in the forecast period.
Request Customization:
https://www.futuremarketinsights.com/customization-available/rep-gb-7392
Competitive Landscape
The market is fragmented, with key players accounting for approximately one fifth of the market share. These players are likely to invest in new technology developments and expansion of their networks in order to maintain their market shares. Some of the key players in the market are Marcegaglia, Sosta GmbH & Co. KG, ArcelorMittal S.A., Nippon Steel, Hyundai Steel Co., Ltd, Sandvik AB, Shanghai Metal Corporation, FROCH ENTERPRISE CO., LTD., F.E.R. Fischer Edelstahlrohre GmbH, YC Inox, JFE Steel Corporation, CSM TUBE spa, Guangzhou Pearl River Petroleum Steel Pipe Co., Ltd., Guangdong Lizz Steel Pipe Co, Ltd., Foshan Zhongde Stainless Steel Co., Ltd. & others.
Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape:
Ductless Heating & Cooling Systems Market : The global Ductless Heating & Cooling Systems Market size is likely to grow at a rate of 8% CAGR during the forecast period of 2022 to 2032
Biocomposites Market : During the assessment period, the global biocomposites market is expected to increase at a robust CAGR of 16%, from US$ 25 Bn in 2021 to US$ 128 Bn in 2032
Stacker Crane Market : From 2022 to 2032, the Stacker Cranes Market is expected to grow at a CAGR of 7%, from an estimated USD 976 million in 2021 to USD 2022.48 million in 2032
Industrial PC Market : During the assessment period, the global Industrial PC Market is expected to register a robust CAGR of 6%, from US$ 5 Bn in 2021 to US$ 9.4 Bn in 2032
Industrial Cybersecurity Market : The industrial cybersecurity market is anticipated to record a CAGR of 7.7% during the forecast period (2022 - 2032)
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified 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 favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
Contact:
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com
Report: https://www.futuremarketinsights.com/reports/stainless-steel-welded-pipes-market
Future Market Insights
Future Market Insights is the premier provider of market intelligence and consulting services
Future Market Insights is the premier provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, UAE, and has its global delivery center in India. In addition to these, FMI also carries out business development and client engagement through its US and UK offices.
Save The Children: Rate Of Attacks On Healthcare in Gaza Higher Than In Any Other Conflict Since 2018
UN News: Green Light For New Cholera Vaccine, Ukraine Attacks Condemned, Action Against Racism
Laureus: Grand Slam Champion Garbiñe Muguruza Announces Retirement Ahead Of Laureus World Sports Awards
Carbon Market Watch: Going For Green - Is The Paris Olympics Winning The Race Against The Climate Clock?
New Zealand Defence Force: NZDF Working With Pacific Neighbours To Support Solomon Islands Election
UN News: Ceasefire The Only Way To End Killing And Injuring Of Children In Gaza