May 29, 2019 12:33 ET | Source: Reports And Data Reports And Data
New York, New York, UNITED STATES
The increasing demand for seamless steel pipes from the oil and gas sector is fueling market growth.
Market Size – USD 66.24 Billion in 2018, Market Growth - CAGR of 3.6%, Market Trends – Expansion of the construction industry in emerging nations.
NEW YORK, May 29, 2019 (GLOBE NEWSWIRE) -- The Global Seamless Steel Pipes Market is forecast to reach USD 88.06 Billion by 2026, according to a new report by Reports and Data.
Seamless steel pipes are pipes with round hollow cross sections that do not have seams. They are generally factory-made using hot working steel. One of the advantages of the pipes is its growing preference. Seamless steel pipes can sustain high pressure. Generally, in welded pipes, the points of welds are the weakest for sustaining pressure, in turn damaging the pressure resistance capability of the pipe. In contrast, seamless pipes are tougher and more pressure resistant.
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Seamless steel pipes make it easy to calculate pressure ratings, as there is no need to be concerned about the quality of welding. These pipes are also thinner and lighter than welded pipes, thus making it more cost efficient. Growth in pharmaceutical and chemical & fertilizers industries are increasing their demand for seamless steel pipes. Seamless steel pipes have high resistance to corrosive substances that are transported through it. Fluctuations in the price of crude oil is a restraining factor for the growth of the market.
North America is expected to become a substantial region in the oil and gas industry. It is increasing its export of fossil fuels through its sale of “shale oil” reserves. The region also has an advanced chemical industry. These factors enhance the opportunity of the market in the region.
Further key findings from the report suggest
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Segments covered in the report:
For the purpose of this report, Reports and Data have segmented into the global Seamless Steel Pipes Market on the basis of Product, Manufacturing Process, Diameter, Pressure Rating, End Users, and Region:
Product Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Manufacturing Process Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Diameter Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
Pressure Rating Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
End Users Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2016-2026)
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Regional Outlook (Revenue in USD Million; 2016–2026)
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