October 18, 2021 04:58 ET | Source: Research and Markets Research and Markets
Dublin, Oct. 18, 2021 (GLOBE NEWSWIRE) -- The "Helical Submerged Arc Welded (HSAW) Pipes - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
The global market for Helical Submerged Arc Welded (HSAW) Pipes estimated at US$5.1 Billion in the year 2020, is projected to reach a revised size of US$6.3 Billion by 2026, growing at a CAGR of 3.4% over the analysis period.
18-24 Inches, one of the segments analyzed in the report, is projected to grow at a 3.2% CAGR to reach US$1.6 Billion by the end of the analysis period. After a thorough analysis of the business implications of the pandemic and its induced economic crisis, growth in the 24-48 Inches segment is readjusted to a revised 3.7% CAGR for the next 7-year period. This segment currently accounts for a 60.8% share of the global Helical Submerged Arc Welded (HSAW) Pipes market.
HSAW pipes are mainly used in onshore transportation of oil and gas, in water distribution, and cooling water lines by power generation facilities. In addition, these pipes are also used in structural applications such as piling in civil engineering constructions including high rise buildings and bridges. Earlier, use of HSAW pipes was limited to low pressure applications.
However, improvement in manufacturing technology and steel grades over the years has extended its use to high pressure applications. In addition to the improvement in investments in oil and gas industry amidst the surge in energy consumption worldwide, replacement demand for most of the antiquated pipeline infrastructure, particularly in developed regions offers potential growth prospects.
The U.S. Market is Estimated at $830.2 Million in 2021, While China is Forecast to Reach $2.3 Billion by 2026
The Helical Submerged Arc Welded (HSAW) Pipes market in the U.S. is estimated at US$830.2 Million in the year 2021.
The country currently accounts for a 15.74% share in the global market. China, the world's second largest economy, is forecast to reach an estimated market size of US$2.3 Billion in the year 2026 trailing a CAGR of 4.1% through the analysis period. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.1% and 2.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.3% CAGR while Rest of European market (as defined in the study) will reach US$2.4 Billion by the end of the analysis period.
The US experienced significant growth in recent years led by factors such as commencement of large natural gas and shale gas exploration projects, liberalization of gas prices, and unbundling of pipeline transportation from gas commercialization. The high tide in the domestic natural gas sector, especially in the shale gas vertical, pumped in huge investments into pipeline infrastructure development projects.
Major portion of the growth in the HSAW pipes over the next two decades is expected to emerge from the rapidly growing non-OECD economies, specifically China and India, led by an ever increasing demand for energy and rise in infrastructure development projects. Key Topics Covered: I. METHODOLOGY II. EXECUTIVE SUMMARY 1. MARKET OVERVIEW
2. FOCUS ON SELECT PLAYERS (Total 61 Featured)
4. GLOBAL MARKET PERSPECTIVE III. MARKET ANALYSIS IV. COMPETITION
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