Global Industrial Tubes Market Introduction:
Global industrial tubes market expected to value over USD 687.5 billion by 2026 end and record a CAGR of over 5.3% during the forecast period 2019 to 2026.
Generating power and energy is of paramount importance for any country to function and the requirement of power and energy generation is increasing with a rise in population all around the world. Industrial tubes in such equipment that plays a vital role in the process of energy generation. Industrial tubes have applications ranging from the oil industry to automotive industry. The industrial tube market has seen a rise in recent times due to its effective properties and characteristics. It is estimated that the U.S, Russia and the Middle Eastern countries will possess 69% of the global oil production in the near future. This will help expand the energy production industry which in turn will boost the industrial tube market.
Global Industrial Tubes Market Overview:
The global industrial tube market is regionally segmented into North America, Asia Pacific, Middle East & Africa, Europe and Rest of the World. North America dominates this segment with USA at the forefront due to a rise in the requirement of oil and gas. Asia Pacific is also expected to show positive growth during the forecast period due to the rise in usage of chemical products. Also, the petrochemical and chemical industry is expanding their presence in this region increasing demand for industrial tubes resulting in positive market growth. The automobile industry in Asia Pacific is also on a rise which is also driving the industrial tube market in a positive direction.
On the basis of material type, the market is segmented into steel and copper segments. Steel is further segmented into carbon steel and stainless steel while copper is segmented into annealed copper and hard drawn copper. Steel is the dominating segment due to its excellent corrosion and chemical resistance, high durability, high strength. The steel sub-segment is dominated by carbon steel because of the durability that carbon offers when it is mixed with iron to form carbon steel.
Based on the type of industry, the market is segmented into oil & gas industry, petrochemical industry, chemical industry, automobile industry, pulp & paper industry. Petrochemical and oil & gas dominate this market segment as steel tubes are primarily required in oil production. The automobile industry also has a huge requirement for steel tubes resulting in positive market growth.
• Nippon Steel & Sumitomo Metal Corp. (NSSMC)
• Tata Steel
• Vallourec S.A.
• Sandvik AB
• US Steel
• AK Tube LLC
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Global Industrial Tubes Market Segmentation:
1. By Region
• North America
• Asia Pacific
• Middle East & Africa
• Rest of the World
2. By Material Type
o Carbon Steel
• Oil, Boiler and Gas Steel Tubing
• Hot Finished Seamless Tubing
• Single- Wall Carbon Steel Tubing
• Double- Wall Carbon Steel Tubing
o Stainless Steel
• 304 Stainless Steel
• 316 Stainless Steel
o Annealed Copper
o Hard Drawn Copper
3. By Industry Type
• Oil and Gas Industry
• Petrochemical Industry
• Chemical Industry
• Automobile Industry
• Pulp & Paper Industry
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FutureWise Key Takeaways:
• Growth prospects
• SWOT analysis
• Key trends
• Key data-points affecting market growth
Objectives of the Study:
• To provide with an exhaustive analysis on the global industrial tubes market by region, by material type, by industry type
• To cater comprehensive information on factors impacting market growth (drivers, restraints, opportunities, and industry-specific restraints)
• To evaluate and forecast micro-markets and the overall market
• To predict the market size, in key regions (along with countries)—North America, Europe, Asia Pacific, Middle East & Africa and rest of the world
• To record evaluate and competitive landscape mapping- product launches, technological advancements, mergers and expansions
• Profiling of companies to evaluate their market shares, strategies, financials and core competencies
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