Industrial Tubes Global Market Report 2022

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Dublin, Jan. 13, 2023 /PRNewswire/ -- ResearchAndMarkets.com has added the 'Industrial Tubes Global Market Report 2022' to its offerings. The global industrial tubes market is projected to grow from $494.31 billion in 2021 to $544.15 billion in 2022, reflecting a 10.1% CAGR, and further to $715.36 billion by 2026 at 7.1% CAGR. Major players include BAE Systems, Honeywell, and GE Aviation. Asia Pacific led the market in 2021 and is expected to remain the fastest-growing region. The rise in the oil and gas sector is a significant factor driving growth, along with technological advancements in product development.

Positive

• Expected growth from $494.31 billion in 2021 to $715.36 billion by 2026.
• Strong CAGR of 10.1% from 2021 to 2022 and 7.1% from 2022 to 2026.
• Demand driven by the growth of the oil and gas industry.

Negative

• None.

DUBLIN, Jan. 13, 2023 /PRNewswire/ -- The "Industrial Tubes Global Market Report 2022" report has been added to  ResearchAndMarkets.com's offering.

This report provides strategists, marketers and senior management with the critical information they need to assess the global industrial tubes market.

This report focuses on industrial tubes market which is experiencing strong growth. The report gives a guide to the industrial tubes market which will be shaping and changing our lives over the next ten years and beyond, including the markets response to the challenge of the global pandemic.

The global industrial tubes market is expected to grow from $494.31 billion in 2021 to $544.15 billion in 2022 at a compound annual growth rate (CAGR) of 10.1%. The industrial tubes market is expected to grow to $715.36 billion in 2026 at a CAGR of 7.1%.

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Major players in the industrial tubes market are Safran S.A, Honeywell Aerospace, Thales Group, L-3 Avionics System, United Technologies Corporation, GE Aviation, BAE Systems, Meggitt plc, Raytheon Technologies, Rockwell Collins Inc, Panasonic Avionics Corporation, Garmin Ltd, Universal Avionics System Corporation, Airbus SE, The Boeing Company, Cobham Limited, Curtiss-Wright Corporation, and Teledyne Technologies Incorporated.

The industrial tube market consists of sales of industrial tubes by entities (organizations, sole traders, partnerships) that are used for the transportation of solids and fluids. Solids and fluids are transported by industrial pipelines. Industrial tubes convey water, gas, sewage, and other materials, as well as provide critical services to businesses such as oil and natural gas pipelines, power plants, chemical processing facilities, refineries, steel mills, and paper mills.

The main types of industrial tubs are process pipes, mechanical tubes, heat exchanger tubes, structural tubes, and hydraulic and instrumentation tubes. Process pipes refer to piping systems that carry chemicals under pressure or vacuum. It is used to define the value of piping systems that are used in chemical processes. The industrial pipes are manufactured through the seamless and welded manufacturing process that uses several materials, such as steel and not steel. It is employed in oil and gas and petrochemical, automotive, mechanical and engineering, construction, and other end users.

Asia Pacific was the largest region in the industrial tubes market in 2021. Asia Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the industrial tubes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The rise in the oil and gas industry is expected to propel the growth of the industrial tubes market going forward. The oil and gas sector focuses on exploration, development, drilling, production, refining, distribution, and transportation of hydrocarbons. The industrial tubes are designed to transport crude and refined petroleum, as well as fuels such as oil, natural gas, and biofuels, efficiently.

For instance, according to the India Brand Equity Foundation, an India-based government export promotion agency, as of September 2021, India's oil refining capacity stood at 248.9 million metric tonnes per annum (MMTPA). Also, India's crude oil production in FY22 till January stood at 32.2 MMT.

Additionally, according to the U.S. Energy Information Administration, a US-based Federal Statistical System for the energy sector, in April 2022, the crude oil production in the US stood at 348,849 barrels. Therefore, the rise in the oil and gas industry is driving the demand for the industrial tube market.

Product advancement is the key trend gaining popularity in the industrial tube market. Major companies operating in the industrial tubes market are focused on developing technologically advanced products to strengthen their market position.

For instance, in July 2021, NobelClad Europe GmbH, a Germany-based metal composite cladding company, launched DetaPipe, a high-performance clad-metal pipe product, developed for use in corrosive, high-temperature, and high-pressure industrial processing environments.

A patented manufacturing process is used to combine corrosion-resistant alloys including zirconium and titanium with less expensive base metals such as carbon steel to create DetaPipe. Compared to solid titanium or zirconium pipe, the product offers better performance and fracture toughness. DetaPipe is expected to be used in the processing of monoethylene glycol, a critical component of polyester, as well as other critical chemical compounds such as epichlorohydrin (ECH), melamine, and urea.

The countries covered in the industrial tubes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Key Topics Covered:

1. Executive Summary

2. Industrial Tubes Market Characteristics

3. Industrial Tubes Market Trends And Strategies

4. Impact Of COVID-19 On Industrial Tubes

5. Industrial Tubes Market Size And Growth

5.1. Global Industrial Tubes Historic Market, 2016-2021, $ Billion

5.1.1. Drivers Of The Market

5.1.2. Restraints On The Market

5.2. Global Industrial Tubes Forecast Market, 2021-2026F, 2031F, $ Billion

5.2.1. Drivers Of The Market

5.2.2. Restraints On the Market

6. Industrial Tubes Market Segmentation

6.1. Global Industrial Tubes Market, Segmentation By Type, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Process Pipes
• Mechanical Tubes
• Heat Exchanger Tubes
• Structural Tubes
• Hydraulic And Instrumentation Tubes

6.2. Global Industrial Tubes Market, Segmentation By Manufacturing, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Seamless
• Welded

6.3. Global Industrial Tubes Market, Segmentation By Material, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Steel
• Non-steel

6.4. Global Industrial Tubes Market, Segmentation By End-User, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

• Oil And Gas and Petrochemical
• Automotive
• Mechanical And Engineering
• Construction
• Other End-Users

7. Industrial Tubes Market Regional And Country Analysis

7.1. Global Industrial Tubes Market, Split By Region, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

7.2. Global Industrial Tubes Market, Split By Country, Historic and Forecast, 2016-2021, 2021-2026F, 2031F, $ Billion

For more information about this report visit https://www.researchandmarkets.com/r/c2y5kh

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FAQ

What is the global industrial tubes market forecast for 2026?

The global industrial tubes market is forecasted to reach $715.36 billion by 2026.

How much did the industrial tubes market grow from 2021 to 2022?

The industrial tubes market grew from $494.31 billion in 2021 to $544.15 billion in 2022.

What are the major players in the industrial tubes market?

Major players include BAE Systems, Honeywell Aerospace, and GE Aviation.

Which region is expected to grow fastest in the industrial tubes market?

Asia Pacific is expected to be the fastest-growing region in the industrial tubes market.

What is driving the growth of the industrial tubes market?

The growth is primarily driven by the rise in the oil and gas industry.