NEW YORK , Nov. 19, 2021 /PRNewswire/ -- The latest global galvanized steel tubes market in India report by Technavio infers that the importance of steel in the modern world and its strategic importance for any industrial nation is driving this market's growth.
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The global galvanized steel tubes market in India is expected to grow steadily at a CAGR of above 6% by 2021.
India has some of the major steel manufacturers in the world. APL Apollo, Bhushan Power & Steel, Goodluck India, Jindal Pipes , Nezone Group, SWASTIK PIPE , Tata Steel , and Zenith Birla (India) are the key vendors in the galvanized steel tubes market in India .
Galvanized steel tube manufacturers are mainly dependent on steel and zinc. Hence, most manufacturers have opted for backward integration.
There are several global and regional players present in the galvanized steel tubes market in India . High competition among vendors has resulted in low steel prices and reduced profit margins.
Vendors are increasing their R&D spending budgets in order to enhance product quality. They are also engaged in strategies such as M&A, partnerships, and joint ventures to expand their global presence and gain market share.
Learn More about the market's vendor landscape highlights with a comprehensive list of vendors and their offerings. View Free Sample Report
Based on end-user, the market has been segmented into irrigation, process, plumbing, construction, and others.
In 2016, the irrigation industry dominated the galvanized steel tubes market and accounted for a major part of the overall market share.
Factors such as the increased dependence on monsoons and lack of rivers and canal networks contributed to the dominance of this segment.
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The galvanized steel tubes market has been segmented into North India , South India , Western India , Eastern India , and Central India .
In 2016, the galvanized steel tubes market in North India was the largest geographical segment. It is expected to be the fastest-growing region during the forecast period.
The growing construction sector in NCR is likely to boost the demand for galvanized steel tubes.
Download our FREE sample report for more key highlights on the regional market share of most of the above-mentioned regions.
Latest Trends, Driving the Galvanized Steel Tubes Market in India
Galvanized Steel Tubes Market in India Driver : o Importance of steel in the modern world and its strategic importance for any industrial nation: § India is one of the largest and fastest-growing markets for galvanized steel tubes worldwide due to the growing industrialization and flourishing automotive industry. § Easy availability of raw materials and skilled and cost-effective labor is likely to drive the galvanized steel tubes market in India .
Galvanized Steel Tubes Market in India Trend : o Increasing application of galvanized steel tubes in the oil and gas industry: § Galvanized steel tubes are widely used in the oil and gas industry for various applications such as exploration, refining, and transportation. § These tubes are preferred due to their excellent stress crack resistance against oil and gas and various other properties such as low permeation to hydrocarbon and methane, corrosion, and impact resistance.
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High Strength Steel Market: The high strength steel market has been segmented by application (automotive, construction, aviation, and others) and geography (APAC, North America , Europe , South America , and MEA). Download Free Sample Report
Galvanized Steel Market: The galvanized steel market has been segmented by product (sheets and strips, structures, pipes and tubes, and others) and geography (APAC, Europe , North America , MEA, and South America ). Download Free Sample Report
Galvanized Steel Tubes Market in India Scope
Accelerate at a CAGR of above 6%
North India, South India, Western India, Eastern India, and Central India
Leading companies, competitive strategies, consumer engagement scope
APL Apollo, Bhushan Power & Steel, Goodluck India, Jindal Pipes, Nezone Group, SWASTIK PIPE, Tata Steel, and Zenith Birla (India)
Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, future consumer dynamics, market condition analysis for forecast period.
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Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
Technavio Research Jesse Maida Media & Marketing Executive US: +1 844 364 1100 UK: +44 203 893 3200 Email: media@technavio.com Website: www.technavio.com/
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