Analysis of Steel Casing Pipes market covering 30 + countries including analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Steel casing pipes also known as encasement pipes are more commonly used for the protection of different types of utility lines such as electrical power cables, gas pipes and water mains. Underground utility lines requires considerable amount of protection so that it does not get damaged or break down due to some elements of human activity or natural calamities. Construction industry is witnessing considerable amount of growth in different regions across the world.
Therefore it is creating huge demand for steel casing pipes for various applications. Steel casing pipe is made by using different types of steel such as stainless steel, carbon steel, alloy steel and mild steel. There is high demand for steel casing pipes in the underground construction projects and the demand is expected to rise during the forecasting period (2020-2030).
Increasing number of underground construction projects and safety requirement of utility lines is among the key driving factors which will drive the growth of steel casing pipes market. Furthermore, steel casing pipes are used also in irrigation application, for the casing of oil and gas wells drills, water supply and sewage. All these factors are expected to contribute significantly in the growth of steel casing pipes market in coming years.
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COVID-19 has affected many industries such as construction and manufacturing industry. Governments of many countries have imposed a lockdown as a result of which industries are dealing with the problems such as halted production activity and disrupted supply chain. Furthermore, almost all the construction activities have been stopped because of the lockdown.
These factors have considerably affected the steel casing pipes market due to COVID -19 outbreak and manufacturers of steel casing pipes also suffered huge amount of loss because market is experiencing decline is demand and hence, inventory levels have increased. Though things are changing now and started to show positive signs for the industry.
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East Asia and South Asia region are expected to be the key region for the growth of steel casing pipe market in coming years. Construction projects in the countries such as India, China and Japan are increasing. Owing to the importance of casing for utility lines, these regions are expected to create noteworthy opportunity for steel casing pipes market to grow.
Furthermore, Oil & Gas industry is growing in North America region. Countries in these region such as US is one of the largest oil producing country in the world. As, steel casing pipes are used in horizontal drilling of oil and gas wells, growing oil & gas industry in North America region will open up numerous opportunities for steel casing pipe manufacturers. MEA region is also expected to create number of opportunities for steel casing pipe market players owing to growth in oil & gas industry.
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Key players in steel casing pipe market are focusing on improved productivity and quality of their product in order gain more customer base. These key players are also working more on R&D activities so as to effective composition of material which is to be used for manufacturing. Key players such as Nippon steel Corp. is constantly trying to develop more effective products which will meet customer requirements.
Other key players in the steel casing pipe market includes Arcelor Mittal, United States Steel, Tata Steel, Jindal Steel & Power Ltd., Rama Steel Tubes Ltd., Steel Authority of India, Northwest Pipe Company, Pipe Industries Corporation, Linde Corrotech International LLC, Oilfield & Supply Company and Vinnyl Pipes Private Ltd.
The research report presents a comprehensive assessment of the steel casing pipe market and contains thoughtful insights, facts, historical data and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. This steel casing pipe market report provides analysis and information, according to market segments such as type of steel, application, end use, distribution channel and region.
The steel casing pipe market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The global steel casing pipe market report provides an in-depth analysis of parent market trends, macroeconomic indicators and governing factors along with market attractiveness as per segments. The global steel casing pipe market report also maps the qualitative impact of various market factors on market segments and geographies.
Steel casing pipes market is bifurcated into five major categories: type of steel, application, end use, sales channel and region.
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Demand for steel casing pipes is likely to grow at a CAGR of 5.4% through the forecast period.
Increasing number of underground construction projects and safety requirement of utility lines will drive market growth.
Asia Pacific is the leading steel casing pipes market with the most opportunities.
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