Global Continuous Welded Pipes and Tubes Market to Reach 23.5 Million Tons by 2026
DUBLIN, Sept. 16, 2022 /PRNewswire/ -- The "Continuous Welded Pipes and Tubes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Global Continuous Welded Pipes and Tubes Market to Reach 23.5 Million Tons by 2026
Growth in the global market would be mainly driven by improvement in residential construction and infrastructure spending on projects such as airport, metros, and greenhouse structures among others. The industry also stands to benefit from the requirement to replace antiquated pipelines, especially in developed economies of the US and Europe.
As CW pipes are also used in fire sprinkler systems, stringent regulatory standards, and greater industrial safety requirements along with rise in infrastructure spending are expected to drive future demand. As CW pipes face strong competition from ERW pipes, there is a constant focus on improving product quality to ensure less wattage and lower frequency of replacement.
Improved infrastructure spending driven by rapid urbanization, growing focus on urban water security and the ensuing expansion of water supply networks; healthy pace of industrialization and the resulting investments in pipelines for industrial water and wastewater management are also expected to boost growth prospects.
Amid the COVID-19 crisis, the global market for Continuous Welded Pipes and Tubes estimated at 19.6 Million Tons in the year 2022, is projected to reach a revised size of 23.5 Million Tons by 2026, growing at a CAGR of 4.2% over the analysis period.
The U.S. Market is Estimated at 1.6 Million Tons in 2022, While China is Forecast to Reach 10.6 Million Tons by 2026
The Continuous Welded Pipes and Tubes market in the U.S. is estimated at 1.6 Million Tons in the year 2022. The country currently accounts for a 8.52% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of 10.6 Million Tons in the year 2026 trailing a CAGR of 5% through the analysis period.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.2% and 2.6% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR while Rest of European market (as defined in the study) will reach 11.1 Million Tons by the close of the analysis period.
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Growing Demand for Improved Access to Potable Water to Boost CW Pipe Consumption
- Rising Need to Upgrade Existing Water Infrastructure Opens New Opportunities
- Product Quality Gains Importance
- Aging Pipelines Drive Replacement Demand
- Rise in Global Consumption Natural Gas to Fuel Demand for Continuous Welded Pipes
- Natural Witnesses Notable Compression Amid COVID-19
- Rise in Natural Gas Prices to Impact Demand
- Growth Remains Buoyant in Pressure Applications
- Fire Sprinklers: An Important Market for CW Pipes
- Surge in Number of High Rise Buildings Boost Prospects
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
Companies Mentioned
- Continental Steel & Tube Company
- Garth Industrial
- JFE Steel Corporation
- MRC Global Inc
- Nippon Steel & Sumitomo Metal Corporation
- Saginaw Pipe Co., Inc
- TIASCO Ltd
- Wheatland Tube Company
- Zhejiang Jiuli Hi-Tech Metals Co., Ltd
For more information about this report visit https://www.researchandmarkets.com/r/n2w5m6
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SOURCE Research and Markets
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