Industrial Tubes Industrial Tubes Market

Industrial Tubes Market

Industrial Tubes Market - by Type (Process pipes, mechanical, heat exchanger, structural), by Material (Steel, Non-steel), by Manufacturing (Seamless, Welded), by End user (Oil & gas, Petrochemical, Automotive, Chemical)- Global Industry Perspective Comprehensive Analysis and Forecast, 2020 - 2026

Published Date: 18-Nov-2020 Category: Heavy Industry Report Format : PDF Pages: 110 Report Code: ZMR-4089 Status : Published

According to the report, global demand for the Industrial Tubes market was valued at approximately USD 502.2 billion in 2019 and is expected to generate revenue of around USD 737.8 billion by end of 2026, growing at a CAGR of around 5.65 % between 2020 and 2026.

Global Industrial Tubes Market: Overview

Industrial tubes are manufactured from steel and have the ability to proficiently handle the tough conditions experienced in the oil & gas reservoirs from which hydrogen sulfide, carbon dioxide emissions, and other compounds are ejected. Industrial tubes are commonly used for applications like coiled tubing and pipe tracing systems in process utilities. The operational efficiencies of production facilities are affected by growing energy loss issues in different industries, especially those located in colder areas. The implementation of a heat tracing device in plants is therefore expected to be promoted, thus providing an impetus for the growth of the demand for industrial pipes over the forecast period.

Global Industrial Tubes Market: Growth Factors

The rise in the number of activities witnessed across the global petrochemical and chemical sectors are the vital aspects stimulating the industrial tubes market trends. Furthermore, the thriving energy & power sector is also catapulting the sales of industrial tubes across the globe. Furthermore, the massive use of the product in oil & gas, chemical, automotive, construction, and petrochemical sectors will further increase the global market penetration rate. This, in turn, will amplify the scope of the business space in the coming decade. Flourishing these industries will help the industrial tube market reach scalable heights. In addition, the high durability of steel tubes along with their outstanding rust resistance, weldability, and chemical property resulting in their massive use will drive the industrial tubes market size. With the growing trend toward the manufacturing of eco-friendly products and as a part of corporate social responsibility, manufacturers are trying to manufacture eco-friendly industrial tubes, thereby augmenting the scope of the business over the next decade.

Global Industrial Tubes Market

Global Industrial Tubes Market: Segmentation

The global industrial tube market can be classified based on type, material, manufacturing, and end-user. Based on the type, the market is sectored into process pipes, mechanical, heat exchanger, and structural. On the basis on material, the market is segmented into steel and non-steel.  On the basis of manufacturing, the industrial tube market is classified into seamless and welded. Based on the end –user, the market is divided into oil & gas, petrochemical, automotive, and chemical.

Global Industrial Tubes Market: Regional Analysis

Based on regions, the global industrial tubes market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Asia Pacific market is likely to contribute majorly towards the market share during the estimated timespans. The region's most densely populated regions comprising of China and India and these countries are rapidly experiencing large production of petrochemicals, specialty chemicals, and other chemicals with enhanced use of chemical goods. In addition, automobile production is also expected to grow significantly with the rise in the disposable income of the middle-class population. The industrial tubes market is, therefore, expected to experience a positive growth trend in the automotive industry. The thriving construction sector is also expected to witness moderate demand for industrial tubes with the growth in the commercial infrastructure in key regions. With the increase in APAC’s natural gas demand, the market in the region is likely to touch new growth horizons in the near future.

Massive product demand in the United States of America and economies of scale in the manufacturing of industrial tubes in the country will drive the growth of the industrial tubes market in North America. Additionally, Europe, LATAM, and the MEA markets have huge growth potential and will elevate the growth trajectory of the global industrial tubes market in the coming decade.

Global Industrial Tubes Market: Competitive Players

Some of the key players in the industrial tubes market are Nippon Steel & Sumitomo Metal Corporation (NSSMC) (Japan), Tenaris (Luxembourg), Sandvik AB (Sweden), Vallourec S.A. (France), and Tata Steel (India).

The report segments the Global Industrial Tubes market as follows:

Global Industrial Tubes Market: Type Segment Analysis

  • Process pipes
  • Mechanical
  • Heat exchanger
  • Structural

Global Industrial Tubes Market: Material Segment Analysis

  • Steel
  • Non-steel

Global Industrial Tubes Market: Manufacturing Segment Analysis

  • Seamless
  • Welded

Global Industrial Tubes Market: End-user Segment Analysis

  • Oil & gas
  • Petrochemical
  • Automotive
  • Chemical

Global Industrial Tubes Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of The Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

The rise in the number of activities witnessed across the global petrochemical and chemical sectors are the vital aspects stimulating the industrial tubes market trends. Furthermore, the thriving energy & power sector is also catapulting the sales of industrial tubes across the globe.

According to the report, global demand for Industrial Tubes market was valued at approximately USD 502.2 billion in 2019, and is expected to generate revenue of around USD 737.8 billion by end of 2026, growing at a CAGR of around 5.65 % between 2020 and 2026.

Some of the key players in industrial tubes market are Nippon Steel & Sumitomo Metal Corporation (NSSMC) (Japan), Tenaris (Luxembourg), Sandvik AB (Sweden), Vallourec S.A. (France), and Tata Steel (India).

Asia Pacific market is likely to contribute majorly towards the market share during the estimated timespans. The region's most densely populated regions comprising of China and India and these countries are rapidly experiencing large production of petrochemicals, specialty chemicals, and other chemicals with enhanced use of chemical goods. The thriving construction sector is also expected to witness moderate demand for industrial tubes with the growth in the commercial infrastructure in key regions. With the increase in APAC’s natural gas demand, the market in the region is likely to touch new growth horizons in the near future.

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