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The Europe ERW steel tube market size is forecast to increase by USD 11.5 billion, at a CAGR of 7.44% between 2023 and 2028.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The market encompasses various applications in infrastructure and construction, oil and gas, agriculture industry, and numerous industrial sectors. Infrastructural projects, such as pipeline transportation for water or sewage, heavily rely on ERW steel tubes due to their pressure rating capabilities. High energy prices have boosted the demand for oil and gas exploration and production, leading to increased usage of ERW steel pipes in this sector. ERW steel tubes are also widely used in the agriculture industry for irrigation systems, as well as in the manufacturing of anti-corrosion, rust-free applications like propane cylinders and pressure vessels.
ERW steel tubes are available in various outside diameters and inside diameters, catering to the specific requirements of diverse applications. Seamless ERW alloy steel tubes offer superior strength and durability, making them suitable for structural purposes, scaffolding, and other heavy-duty applications. The increasing industrialization, population growth, and construction expenditures drive the demand for ERW steel tubes in building homes and other infrastructure projects.
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The oil and gas segment was valued at USD 10.10 billion in 2018 and showed a gradual increase during the forecast period.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Increased demand from end-user industries is the key driver of the market.
The growing construction industry requiring ERW steel tubes is the upcoming trend in the market.
The safety issue is a key challenge affecting market growth.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the market report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, market forecast partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market. The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing demand from various industries such as infrastructure and construction, oil and gas, agriculture, and industrialization. Infrastructure projects like pipeline transportation for water or sewage and infrastructure development for homes require large quantities of steel tubes for structural purposes. The oil and gas industry uses ERW steel tubes for pressure rating applications in transporting high-pressure gases like propane. The agriculture industry uses ERW steel tubes as low-cost alternatives for irrigation systems. In the oil and gas sector, ERW steel tubes are used for pipeline transportation of oil and gas, while in the agriculture industry, they are used for irrigation systems. However, high energy prices have led to an increase in demand for ERW steel tubes in the oil and gas industry.
Also, ERW steel tubes are used in various industries, such as petrochemicals, wind turbines, batteries, medical devices, plastics, detergents, tyres, automotive applications, diesel spark plugs, engine block heating, and diesel particulate filters. ERW steel tubes are available in various sizes, with pressure rating, outside diameter, and inside diameter being the key specifications. Seamless ERW steel tubes are preferred for their anti-corrosion and rust-free properties, making them suitable for various applications. The growth of the market is driven by factors such as population growth, industrialization, and increasing construction expenditures. Iron is the primary raw material used in the production of ERW steel tubes, and the market is expected to grow at a steady pace in the coming years.
Market Scope |
|
Report Coverage |
Details |
Page number |
163 |
Base year |
2023 |
Historic period |
2018-2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 7.44% |
Market Growth 2024-2028 |
USD 11.5 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
6.4 |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by End-user
7 Market Segmentation by Product Type
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Opportunity/Restraints
11 Competitive Landscape
12 Competitive Analysis
13 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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