Project Report For ERW Pipe Manufacturing
Project report for ERW Pipe Manufacturing is as follows.
The global market for Electric Resistance Welded (ERW) Pipes and Tubes, which was anticipated to be 62.3 million tonnes in 2020, is expected to rise at a CAGR of 5.5 per cent to 85.3 million tonnes by 2026, according to the report. Mechanical Steel Tubing, one of the report’s sectors, is expected to rise at a 5.1 per cent compound annual growth rate (CAGR) to reach 23.6 million tonnes by the end of the analysis period. After a thorough examination of the pandemic’s commercial ramifications and the resulting economic crisis, the Line Pipes segment’s growth is revised to a revised 5.8% CAGR for the next seven years. This segment now holds a 22.5 per cent share of the global Electric Vehicle market.
Market for Resistance Welded (ERW) Pipes and Tubes Mechanical steel tube is used in mechanical machinery, material handling, and other commercial and industrial equipment. Automakers have been progressively using mechanical tubing to create hydroformed tubular steel components including rails, cross members for framing, cradles, and pillars in recent years. The quantity of pipeline building activity, line pipe replacement requirements, utility purchase programmes, and new residential construction activity all influence demand for line pipes. Demand for replacement and maintenance, as well as pipeline projects, continues to underpin the market for line pipes
Market potential & Strategy
In the year 2021, the market for Electric Resistance Welded (ERW) Pipes and Tubes in the United States is expected to reach 5.4 million tonnes. In the global market, the country currently holds an 8.28 per cent share. China, the world’s second-largest economy, is expected to reach a market size of 27.2 million tonnes in 2026, representing a CAGR of 6% throughout the analysed period.
The forecasted growth rate for 2019-2025 is 3.8 – 4.5 per cent, respectively, over the analysis period. Within Europe, Germany is expected to develop at a CAGR of around 4%. By the end of the analysis period, the rest of the European market (as defined in the study) will have grown to 29 million tonnes. The largest regional market in Asia-Pacific, which is being driven by increased industrialization and rapid infrastructure development. The significant economic expansion of individual countries in these regions, as well as increased activity in end-use industries like oil, power, and refineries, are substantially to blame. The resurgence in E&P spending in the US market is mostly due to the country’s special emphasis on harnessing the vast deposits of shale plays to fulfil growing energy demand and attain energy security.
Create 100% Bankable Project Report