April 27, 2020
According to the research report titled ‘Global Helical Submerged Arc Welding (HSAW) Steel Pipe Market Research Report 2020’, available with Market Study Report LLC, worldwide helical submerged arc welding (HSAW) steel pipe market share accounted for USD 6421.1 million in 2020 and is presumed to expand with a CAGR of 2.4% during the study period, subsequently reaching USD 7594.9 million by the year 2026.
Booming oil & gas sector along with rising adoption of HSAW pipes across various industry verticals such as construction, water etc. are major factors driving the HSAW steel pipe industry growth. Shifting focus towards expansion of construction sector along with favorable government initiatives which promote the use of sustainable materials for construction are also creating lucrative growth avenues for the market.
As per the product type, outer diameter 24-28 inches HSAW steel pipe market segment accounted for 61% share in 2020 and is presumed to expand continuously during the forecast period. These pipes are used for large scale pipeline construction.
Based on the applications spectrum, HSAW steel pipe market share from oil & gas along with water segments was approximately 70% in 2020. Rising focus towards improving wastewater treatment facilities and rapid expansion of oil & gas sector are fueling the adoption rates.
Citing the regional scope, Asia-Pacific HSAW steel pipe industry is projected to record a commendable growth rate through 2026. Shifting focus towards revamping and renovating existing infrastructure and surging investments towards green infrastructure development are favoring the market outlook in Asia-Pacific.
Panyu Chu Kong Steel Pipe, ArcelorMittal, Shengli Oil & Gas Pipe, Kingland & Pipeline Technologies, JFE Steel Corp., Jiangsu Yulong Steel Pipe, Borusan Mannesmann, American Cast Iron Pipe Co., Nippon Steel, TMK, Youfa Steel Pipe Group, EUROPIPE GmbH, EVRAZ North America, Cangzhou Steel Pipe Group, Baoji Petroleum Steel Pipe, Jindal Saw and Welspun Group are the major contenders in helical submerged arc welding steel pipe market.
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