The Industrial Tubes Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
Learn More On The Industrial Tubes Market:
https://www.thebusinessresearchcompany.com/report/industrial-tubes-global-market-report
According to The Business Research Company’s Industrial Tubes Global Market Report 2024, The industrial tubes market size has grown strongly in recent years. It will grow from $599.06 billion in 2023 to $650.23 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to construction and infrastructure development, industrial manufacturing needs, oil and gas exploration, global economic conditions, infrastructure rehabilitation.
The industrial tubes market size is expected to see strong growth in the next few years. It will grow to $906.01 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to market competition and innovation, supply chain resilience and efficiency, automotive industry evolution, urbanization and construction projects, environmental regulations and sustainability. Major trends in the forecast period include customization demands, digitalization and smart manufacturing, sustainability focus, rising urbanization, advanced materials usage.
The rise in the oil and gas industry is expected to propel the growth of the industrial tubes market going forward. The oil and gas sector focuses on exploration, development, drilling, production, refining, distribution, and transportation of hydrocarbons. The industrial tubes are designed to transport crude and refined petroleum, as well as fuels such as oil, natural gas, and biofuels, efficiently. For instance, according to the India Brand Equity Foundation, an India-based government export promotion agency, as of September 2021, India’s oil refining capacity stood at 248.9 million metric tones per annum (MMTPA). Also, India’s crude oil production in FY22 till January stood at 32.2 MMT. Additionally, according to the U.S. Energy Information Administration, a US-based Federal Statistical System for the energy sector, in April 2022, the crude oil production in the US stood at 348,849 barrels. Therefore, the rise in the oil and gas industry is driving the demand for the industrial tubes market.
Get A Free Sample Of The Report (Includes Graphs And Tables):
https://www.thebusinessresearchcompany.com/sample.aspx?id=7269&type=smp
The industrial tubes market covered in this report is segmented –
1) By Type: Process Pipes, Mechanical Tubes, Heat Exchanger Tubes, Structural Tubes, Hydraulic And Instrumentation Tubes
2) By Manufacturing: Seamless, Welded
3) By Material: Steel, Non-steel
4) By End-User: Oil And Gas and Petrochemical, Automotive, Mechanical And Engineering, Construction, Other End-Users
Major companies operating in the industrial tube market are focusing on innovative solutions, such as eco-friendly steel tubes, to enhance performance and meet evolving industry demands. Eco-friendly steel tubes are manufactured using sustainable and environmentally conscious practices, minimizing the overall impact on the environment throughout the production process. For instance, in July 2023, ArcelorMittal, a Luxembourg-based steel manufacturing company, launched innovative steel tubes with low carbon emissions crafted from XCarb recycled and sustainably sourced steel, delivering an impressive up to 75% reduction in CO2 equivalent among the highest rates in the steel tube sector. Leveraging XCarb steel tubes empowers customers to diminish the overall CO2 impact of their endeavors, aligning with decarbonization objectives, Paris climate goals, and the European Green Deal.
The industrial tubes market report table of contents includes:
.
.
.
Top 5 Major Key Players Are:
Related Reports:
https://goodprnews.com/electronic-weighing-machines-market/
https://goodprnews.com/electronically-scanned-arrays-market-size/
https://goodprnews.com/electronics-and-appliance-stores-market/
Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
Facebook: https://www.facebook.com/TheBusinessResearchCompany
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Blog: https://blog.tbrc.info/
Healthcare Blog: https://healthcareresearchreports.com/
Global Market Model: https://www.thebusinessresearchcompany.com/global-market-model
The medical terminology software global market report 2024 from The Business Research Company provides comprehensive…
The apples global market report 2024 from The Business Research Company provides comprehensive market statistics,…
The ip video surveillance and vsaas global market report 2024 from The Business Research Company…
The change and configuration management global market report 2024 from The Business Research Company provides…
The generative ai in gaming global market report 2024 from The Business Research Company provides…
The electric blankets global market report 2024 from The Business Research Company provides comprehensive market…