Market Research Report
Large Diameter Steel Pipes
|Large Diameter Steel Pipes|
Published: February 1, 2022
Global Industry Analysts, Inc.
Content info: 383 Pages
Delivery time: 1-2 business days
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Global Large Diameter Steel Pipes Market to Reach $13.6 Billion by 2026
Large Diameter Pipes (LDPs) form the structural foundation of economies worldwide, comprising a major mode of transport for natural gas, oil and other fluids from isolated areas of production and refining to consumption centers across national and international boundaries. Demand for large diameter pipes is predominantly dictated by spending patterns for oil and gas transportation. The industry stands to gain from the relentless need to replace aging pipelines, particularly in developed economies of the US and Europe. Growing population and subsequent rise in demand for potable water and public infrastructure comprise the major factors driving demand for large diameter pipes in nonoil and gas applications. Increasing distance between supply resources and consumer is another factor driving demand for pipeline infrastructure, promoting the market for large diameter pipes.
Amid the COVID-19 crisis, the global market for Large Diameter Steel Pipes estimated at US$11.7 Billion in the year 2020, is projected to reach a revised size of US$13.6 Billion by 2026, growing at a CAGR of 2.6% over the analysis period. LSAW Pipes, one of the segments analyzed in the report, is projected to record 2.4% CAGR and reach US$7.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the SSAW Pipes segment is readjusted to a revised 2.9% CAGR for the next 7-year period. LSAW Pipes find application in offshore and onshore oil and gas pipelines which demand high performance as well as resilience to external factors. SSAW pipes entail the use of relatively lighter equipment compared to LSAW pipes, which also contributes to significantly lower capital investments in construction and operating of the pipe mill. Although the immediate outlook for the oil & gas industry remains largely negative on the back of the COVID-19 crisis thus impacting growth in the LSAW and SSAW pipes market, long-term forecasts remain favorable on anticipated increase in oil & gas consumption from second half of 2021 onwards amid likely resurgence in energy demand.
The U.S. Market is Estimated at $1.9 Billion in 2021, While China is Forecast to Reach $5 Billion by 2026
The Large Diameter Steel Pipes market in the U.S. is estimated at US$1.9 Billion in the year 2021. China, the world`s second largest economy, is forecast to reach a projected market size of US$5 Billion by the year 2026 trailing a CAGR of 3.1% over the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1.7% and 1.8% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR. Growth in the developed economies is driven by relentless need to replace aging pipelines. Australia, India and China drive demand for large diameter pipes in Asia with numerous planned as well as ongoing pipeline projects. Large diameter pipes, also used in water transportation, sewage pipelines and infrastructure, are expected to witness growth with rising demand potable water and wastewater treatment in emerging economies of Asia.
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