Galvanized Steel Tubes Market in India: Drivers, Trends, and Challenges
The importance of steel in the modern world and its strategic importance is notably driving the galvanized steel tubes market growth in India, although factors such as shifting consumers' preference toward substitute products may impede market growth. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.
Galvanized Steel Tubes Market Driver in India
One of the key factors driving growth in the galvanized steel tubes market in India is the importance of steel in the modern world and its strategic importance for any industrial nation. India is one of the largest and fastest growing markets for galvanized steel tubes worldwide due to the growing industrialization and flourishing automotive industry. Easy availability of raw materials and skilled and cost-effective labor is likely to drive the galvanized steel tubes market in India. The increasing and expanding process industries such as food and beverage, paper and pulp, and chemicals are also propelling the growth of the galvanized steel tubes market in India. The consumption per capita is likely to increase due to the rising infrastructure and construction projects in roads, highway, and railways coupled with the swift growth in several industrial sectors.
Galvanized Steel Tubes Market Trend in India
The increasing application of galvanized steel tubes in the oil and gas industry is another major factor supporting the galvanized steel tubes market in India. Galvanized steel tubes are widely used in the oil and gas industry for various applications such as exploration, refining, and transportation. In the oil and gas industry, tubes that are used should be durable, mechanically strong, and thermally stable. These tubes work under harsh environmental and chemical conditions. Galvanized steel tubes are preferred due to their excellent stress crack resistance against oil and gas and various other extraordinary properties such as low permeation to hydrocarbon and methane, corrosion, and impact resistance. Galvanized steel tubes exhibit all these properties and are well suitable for applications in the oil and gas industry. The growing consumption of galvanized steel tubes in the oil and gas industry will drive the galvanized steel tubes market in the near future.
Galvanized Steel Tubes Market Challenge in India
The shifting consumers' preference toward substitute products will be a major challenge for the galvanized steel tubes market in India. The preference of the consumers and end-users is moving toward more cost-effective and competitive products. Copper tubes are often used in commercial and household applications because of their superior properties. In India, it is believed that copper tubes increase the commercial value of buildings and homes. Plastic tubes are the most competitive substitutes for galvanized steel tubes. These are lightweight and are the most commonly used type of tubes in the market. The market share for the competitive products is growing due to their various favorable features and properties. The growing demand for substitute products is likely to restrain the demand for galvanized steel tubes.
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Who are the Major Galvanized Steel Tubes Market Vendors in India?
India harbors the majority of the steel manufacturers in the world. The galvanized steel tube manufacturers are mainly dependent on steel and zinc. Due to this, most of the galvanized steel manufacturers have gone into backward integration. There are several global and regional players present in the galvanized steel tubes market in India. The intensive competition among steel manufacturers indirectly impacts the price of the product. Also, the attempt of Chinese manufacturers to enhance their market reach will further intensify the competition among vendors.
Leading vendors in the market are –
- APL Apollo
- Bhushan Power & Steel
- Goodluck India
- Jindal Pipes
- Nezone Group
- SWASTIK PIPE
- Tata Steel
- Zenith Birla (India)
Other prominent vendors in the galvanized steel tubes market include Furuno Electric, Kelvin Hughes, Selex ES, Prosensing, and Terma.
What are the Revenue-generating End-user Segments in the Galvanized Steel Tubes Market in India?
- Irrigation industry
- Process industry
- Plumbing industry
- Construction industry
During 2016, the irrigation industry dominated the galvanized steel tubes market and accounted for a major part of the overall market share. Factors such as the increased dependence on monsoons and lack of rivers and canals network are contributing to the dominance of this segment in the Indian market.
Which are the Key Regions for Galvanized Steel Tubes Market in India?
- North India
- South India
- Western India
- Eastern India
- Central India
In this market study, analysts have estimated North India to dominate the galvanized steel tubes market in the next few years. This dominance in the market can be attributed to the exponential growth in the construction sector in the region. Also, the use of steel tubes in agriculture is further contributing to the growth of the galvanized steel tubes market in the region.
What are the Key Data Covered in this Galvanized Steel Tubes Market Report of India?
- CAGR of the market during the forecast period 2017-2021
- Detailed information on factors that will drive galvanized steel tubes market growth in India during the next five years
- Precise estimation of the galvanized steel tubes market size in India and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the galvanized steel tubes industry across North India, South India, Western India, Eastern India, and Central India.
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of galvanized steel tubes market vendors in India