April 27, 2020
According to the research report titled ‘Global Longitudinal Submerged Arc Welded Pipe (LSAW) Market Research Report 2020’, available with Market Study Report LLC, longitudinal submerged arc welded pipe market was worth USD 12340 million as of 2020 and is presumed to expand with a CAGR of 2.2% during the study period. The market is expected to garner USD 14400 million by the year 2026.
Notably, LSAW (longitudinal submerged arc welded) pipes are developed using the method of double sided submerged arc welding. Favorable government initiatives which promote the expansion of the industrial sector are driving the growth of LSAW pipe market. These pipes are widely used in long distance pipeline construction activities across various industry vertical such as oil & gas, construction, chemical and water treatment. Surging investments towards infrastructural development along with rising modernization activities of prevailing facilities are also stimulating the industry outlook.
As per type, the UOE process segment accounted for 50% market share, whereas the other segment held 20% share in the longitudinal submerged arc welded pipe industry in 2020.
Based on the application spectrum, oil & gas as well as water sectors combinedly registered 80-90% of market share. Surge in exploration & production activities across oil & gas industry, advancement in wastewater treatment processes and rising development of water related infrastructure are favoring the market outlook.
Considering the geographical landscape, Asia-Pacific LSAW pipe market is predicted to garner admirable gains in the forthcoming years. Increasing number of oil rigs, escalating investments towards infrastructural development and numerous renovating activities of existing establishments are promoting the business scenario in Asia-Pacific. Meanwhile, Europe LSAW pipe market is expected to hold 25% market share by the year 2026.
The prominent companies in global LSAW market are Shengli Oil & Gas Pipe, Kingland & Pipeline Technologies, Baoji Petroleum Steel Pipe, Panyu Chu Kong Steel Pipe, Cangzhou Steel Pipe Group, Jiangsu Yulong Steel Pipe Co., Arabian Pipes Co., ArcelorMittal, Welspun Group, JSW Steel Ltd., TMK, SEVERSTAL, Borusan Mannesmann, Jindal Saw, JFE Steel Corp., EEW Group, Nippon Steel, ChelPipe, OMK and EUROPIPE GmbH.
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