World News: 16:55 GMT Monday 11th February 2019. [Research and Markets via Globe Newswire via SPi World News]
Dublin, Feb. 11, 2019 (GLOBE NEWSWIRE) -- The report has been added to offering.
The global metal pipe market is expected to reach an estimated $97.7 billion by 2023 with a CAGR of 3.9% from 2018 to 2023.
The global metal pipe market looks promising with opportunities in oil and gas, power generation, automotive, and industrial sector. The major drivers for this market are increasing construction of new pipelines for oil and gas, water and wastewater, replacement of aging pipelines, and infrastructure development.
The researcher forecasts that the steel pipe is expected to remain the largest segment and witness highest growth over the forecast period due to increasing demand in oil and gas, power generation and automotive industries. Within the global metal pipe market, oil and gas will remain the largest end use industry during the forecast period due to increase in oil and gas exploration and production activities. North America is expected to remain the largest region due to increase in oil and gas exploration activities. APAC is expected to witness the highest growth over the forecast period due to increasing infrastructure development, urbanization, and government economic stimulus measures in this region.
Emerging trends which have a direct impact on the dynamics of the metal pipe industry include Increasing use of premium and technically advanced pipe and development of multilayer pipe for strength and durability.
Some of the metal pipe companies profiled in this report include Tenaris, Vallourec, TMK, Saint Gobain, ArcelorMittal, Nippon Steel and Sumitomo Metals, United States Steel Corporation, Muller Industries, Kaiser Aluminum, Amiantit, and Northwest Pipe and others.
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Related Topics: Metals and Minerals, Pipes
Globe Newswire: 16:55 GMT Monday 11th February 2019
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