The rapid growth of the oil and gas industry and increased demand large diameter steel pipes with superior strength and ductility is expected to propel the market growth. The increasing demand from the chemical industry globally is driving up demand for large-diameter steel pipes.
The global large-diameter steel pipes market is anticipated at US$ 12.2 billion in 2022. The sector is gaining pace as companies provide pipes that meet the quality standards for specific applications in various end-use industries and garnering US$ 16.8 billion in 2033, recording a CAGR of 2.9% from 2023 to 2033. The market is likely to secure US$ 12.6 billion in 2023. 50mm Gi Pipe Price
Key Factors Shaping the Demand Outlook of the Large Diameter Steel Pipes Industry:
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
From 2018 to 2022 the large diameter steel pipes market expanded at a CAGR of 4.8% The growth of the market is attributed to an increased application in end-use industries. One of the most important factors driving the large-diameter steel pipes market expansion is an increase in the oil & gas industry.
The manufacturer has started manufacturing pipes in accordance with the requirements of the application areas and quality standards of the project with internal diameter, ductility, yield strength, and pressure rating. These factors aid the growth of the large-diameter steel pipes industry during the forecast period.
Increasing demand for energy & infrastructure development in emerging nations and increasing applications in the chemical industry have created opportunities for market growth. The large-diameter steel pipes market is projected to show a noteworthy growth of US$ 16.8 billion by the end of the forecast period of 2033.
Increasing Applications in Chemical Industry to Drive the Market Growth
The large diameter steel pipes are highly used in the chemical industry to move raw materials and finish products in factories and plants. The high strength and corrosion resistance properties of large-diameter steel pipes make them ideal for transporting corrosive and dangerous chemicals.
The large-diameter steel pipes are used in constructing storage tanks for chemicals and other materials used in the chemical industry. The large-diameter steel pipes are designed to handle corrosive and toxic products safely. Transporting waste material from chemical plants to waste treatment facilities, large-diameter steel pipes are used.
Technological Advances in Manufacturing Technology Are Likely to Boost the Growth of the Market
The manufacturers operating in large diameter steel pipes market are using manufacturing technologies, such as automated welding systems and laser welding. With these techniques, it became easier and more efficient to produce large diameter steel pipes. These advancements have also resulted in improved quality and increased production efficiency.
Large diameter steel pipes are seen as a sustainable and environmentally responsible solution for infrastructure development projects. Increasing government regulations to promote sustainable development and reduce carbon emissions is expected to boost market growth.
The growing focus on renewable energy sources, such as wind and solar, is driving the demand for large diameter steel pipes is high in the construction of wind turbines and solar power plants.
Find your sweet spots for generating winning opportunities in this market.
Fluctuating Prices of Raw Material May Hamper Growth of the Market
The high initial investment and fluctuating prices of raw materials may hamper the growth of the market during the forecast period. The presence of PVC and other Polymeric pipes is a restraining factor for the growth of the market.
Fluctuating price of crude oil may hamper the growth of the market during the forecast period. Large-diameter steel pipes are preferred in applications where high corrosive strength and durability are required.
Presence of Well Establishes Market Players to Boost the Growth of the Large Diameter Steel Pipes Market in the United States
The global large diameter steel pipes market is expected to be dominated by North America. The market is anticipated to expand at a CAGR of 2.8% and is expected to accumulate a market value of US$ 752.9 million over the forecast period.
The United States and Canada are the lucrative markets in large diameter steel pipes in North America. The growth of the market in the region is due to the increasing demand from the oil & gas industry and infrastructure development projects like wastewater treatment and water pipelines.
The United States remains one of the lucrative markets for large diameter steel pipes throughout the forecast period owing to the presence of several established players in the region including United States Steel Corporation, Nucor Corporation, TMK IPSCO, EVRAZ North America, and American Cast Iron Pipe Company.
These companies are investing in research and development to improve the quality and efficiency of their products and meet the growing demand for large diameter steel pipes in the United States. For instance, United States Steel Corporation: In 2020, United States Steel Corporation announced that it had completed a $1.2 billion investment in its Mon Valley Works facilities in Pennsylvania. The investment included the construction of a new electric arc furnace and a new continuous caster, which is expected to increase the company's production capacity for large diameter steel pipes.
Increasing Application in Various Industries to Boost the Growth of the Market in the United Kingdom
The large diameter steel pipes sales in the United Kingdom is expected to keep rising at a steady pace with a CAGR of 2.6% and are expected to gain a market value of US$ 130.8 million by the end of the forecast period.
The growth of the market in the region is attributed to increasing demand for energy & infrastructure development. The government in the United Kingdom is highly investing in countries infrastructure, particularly in the energy sector which has boosted the demand for large diameter steel pipes.
Increasing Demand in the Chemical Industry to Drive the Growth of the Market in China
China’s larger diameter steel pipes market is expected to rise at 2.8% CAGR between 2023 to 2033. The growth forecast for china market remains positive on account of the increasing demand from the chemical industry. The market is expected to gain a market value of US$ 774.9 million by the end of the forecast period.
The growth of the market in China is attributed to the growing construction sector, infrastructural investments, and government initiatives. The presence of various chemical and other industries in the region is likely to drive market growth in China.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need and save 40%!
LSAW Pipes Segment Generated High Revenue
Based on type, the LSAW pipes segment is expected to dominate the market in the forecast period. The segment is projected to exhibit a CAGR of 3.2% during the forecast period.
The growth of the segment is attributed to growth in the construction sector and also growth in infrastructure development.
Oil & Gas Segment to Gain Significant Traction During the Forecast Period
Based on the end-user, the market is segmented into oil & gas, water, treatment, and chemical. Among all these oil & gas segments remains the top application category expected to expand with a CAGR of 3.4% throughout the forecast period.
Oil & gas are estimated to account for the prominent market share as large-diameter steel pipes are mainly used to transport natural gas, oil, and other fluids from isolated locations of production and refining to consuming centers.
New players in the market of Pipeline system engineering, Borusan Mannesmann Pipes USA, and China Zhonghai Steel Pipe Manufacturing Corporation among others, are adopting various marketing strategies such as new product launches, geographical expansion, mergers and acquisitions, partnerships, and collaboration to identify the interest of potential buyers and create a larger customer base. For instance
Prominent players in the large diameter steel pipes market are American Cast Iron Pipe Company; American Piping Products, Inc.; Borusan Mannesmann Boru Sanayi ve Ticaret A.S.; Baoji Petroleum Steel Pipe Co., Ltd.; BERG PIPE among others.
The key players in the large-diameter steel pipes market are focusing on improved productivity and quality of their products in order to gain more customer base. Key players are working on research & development activities so as to the effective composition of the material that is to be used for manufacturing.
Other expansion strategies of key players include extensive research & development activities, collaborations, and mergers & acquisitions. Some notable developments are as follows:
As of 2023, the market for the large diameter steel pipes is expected to be valued at US$ 12.6 billion, as per FMI
By 2033, the market value of large-diameter steel pipes is expected to reach US$ 16.8 billion
From 2023 to 2033, large-diameter steel pipes sales are expected to flourish at a CAGR of 2.9%
Based on type, the LSAW pipes segment is expected to account for a CAGR of 3.2% during the forecast period.
Based on application, the oil & gas segment dominates the market with a CAGR of 3.4% during the forecast period.
The market is valued at US$ 12.6 billion in 2023.
American Cast Iron Pipe Company, and American Piping Products, Inc. are key market players.
The market is estimated to reach US$ 16.8 billion by 2033.
Advancements in manufacturing technology drive the market prospects.
The LSAW pipes segment is likely to remain preferred through 2033.
Large Diameter Steel Pipes Market
Future Market Insights is registered in the state of Delaware as Future Market Insights, Inc. Christiana Corporate, 200 Continental Drive, Suite 401, Newark, Delaware - 19713, United States
616 Corporate Way, Suite 2-9018, Valley Cottage, NY 10989, United States
1602-6 Jumeirah Bay X2 Tower, Plot No: JLT-PH2-X2A, Jumeirah Lakes Towers, Dubai, United Arab Emirates
3rd Floor, 207 Regent Street, W1B 3HH, London, United Kingdom
Future Market Insights Global & Consulting Pvt. Ltd.,
IndiaLand Global Tech Park, Unit UG-1, Behind Grand HighStreet, Phase 1, Hinjawadi, MH, Pune – 411057, India
Copyright © Future Market Insights, Inc.
Your personal details are safe with us. Privacy Policy*
Your personal details are safe with us. Privacy Policy*
Your personal details are safe with us. Privacy Policy*
Your personal details are safe with us. Privacy Policy*
I need Country Specific Scope (-30% )
Your personal details are safe with us. Privacy Policy*
Your personal details are safe with us. Privacy Policy*
I am searching for Specific Info.
Your personal details are safe with us. Privacy Policy*
Your personal details are safe with us. Privacy Policy*
Large Diameter Pipe You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.