Metal Pipes Market set to garner higher revenue globally
Market Research Future published a half-cooked research report on the global metal pipes market. The metal pipes market is expected to grow at a CAGR of around 4% during 2018–2023.
The global metal pipes market is expected to witness sustainable growth throughout the forecast period. The increased use of metal pipes in Asia-Pacific, increasing construction of new pipelines, and replacement of old and obsolete pipeline, across industries, such as oil & gas, water & wastewater, infrastructure development, and investment in material R&D is expected to raise the demand for metal pipes. The various advantages of metal pipes, such as longer shelf life, durability, ease of installation, and easy maintenance, are expected to add to the demand. However, the fluctuating raw material prices are expected to hinder the market growth.
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North America to witness moderate growth in the global metal pipes market over the forecast period.
On the basis of region, the global metal pipes market has been segmented into North America, Europe, Asia-Pacific, and the Rest of the World (RoW). North America dominated the global market, primarily due to the various investments in the pipeline upgrading projects for water infrastructure.
Asia-Pacific is expected to witness the highest growth during the forecast period, where China held the largest market share in 2017. This is attributed to the increasing population and rapid urbanization, which has created a demand for clean drinking water. Furthermore, the growth of the various industries has also led to the demand for clean water for various industrial applications. This has fueled the demand for metal pipes in the region.
Water and wastewater segment to hold the highest growth rate during the forecast period 2018–2023.
On the basis of end-use, the water and wastewater segment is expected to witness the maximum growth during the forecast period. The growing population along with the positive economic conditions in the world is expected to increase the demand for clean water, which requires investments in water-related infrastructure and services, leading to the market growth.
Scope of the Report
This study provides an overview of the global metal pipes market, tracking three market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume, and share for North America, Europe, Asia-Pacific and the rest of the world (ROW). The report also provides a forecast, focusing on the market opportunities for the next five years for each region. The scope of the study segments the global Metal Pipes market by material, by diameter by end-use, and by region.
Some of the players include ArcelorMIttal S.A. (Luxembourg), Compagnie de Saint-Gobain SA (France), Kaiser Aluminum Corporation (US), Northwest Pipe Company (US), Saudi Arabian Amiantit Company (Saudi Arabia), Muller Industries, Inc. (US), Narsk Hydro ASA (US), Nippon Steel and Sumitomo Metals (Japan), TMK Group (Russia), and Tenaris SA (Luxembourg).
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