Rapid growth in the oil and gas industry has increased demand for HSAW Steel pipes and is expected to drive market growth. This article will take a market snapshot of HSAW(spiral submerged arc welded) steel pipe.
The HSAW steel pipe market will grow at a CAGR of 5.9% from 2019 to 2023. The growth of the market is attributed to increasing applications in end-use industries.
One of the most important factors driving the expansion of the spiral submerged arc welded pipe market is the growth of the oil and gas industry. HSAW pipelines, which fall under the large diameter pipe category, are critical routes for transporting natural gas, oil and other fluids from remote production and refining sites across national and international borders to consumption centers.
Manufacturers have begun manufacturing pipes according to the requirements of the application area and the quality standards of the project, including wall thickness, diameter and coating options. These factors will aid the growth of the spiral submerged arc welded (HSAW) pipe industry during the forecast period.
The market is expected to grow at a stable CAGR during the forecast period. Emerging countries have increasing demands for energy and infrastructure development. Increasing applications in construction and chemical industries create opportunities for market growth. The spiral submerged arc welded (HSAW) pipe market is expected to witness significant growth by the end of the forecast period 2033.
What Driving Forces Support The Expansion Of The Spiral Submerged Arc Welded Pipe Industry?
- Growing Focus On Sustainability Drives Demand For Spiral Submerged Arc Welded (HSAW) Pipes
Environmental concerns and the need to reduce carbon emissions are driving the spiral submerged arc welded pipe industry to move towards more sustainable practices. Companies are investing in renewable energy, improving energy efficiency and developing new products with a lower environmental impact. For example, some companies are using recycled steel to produce pipes, while others are exploring the use of new materials such as composites.
Increased industrialization has led to the growth of many different industries such as chemicals and pharmaceuticals. The continuous advancement of these companies has led to increased demand for spiral submerged arc welded (HSAW) pipes.
- Growing Construction Industry Drives Market Growth
Growing urbanization and industrialization have also led to the construction of new buildings and infrastructure, meeting the demand for spiral submerged arc welded (HSAW) pipes. Spiral submerged arc welded (HSAW) pipes can handle high pressures and large volumes of fluids or gases.
The market for spiral submerged arc welded (HSAW) pipes in the construction industry is expected to continue growing in the coming years, driven by growing energy and infrastructure demand and development of new applications for these pipes.
What Are The Key Challenges Faced By Spiral Submerged Arc Welded (HSAW) Pipe Market?
- High Investment Costs Hinder Market Growth
High initial investment and volatile raw material prices are likely to hinder the market growth during the forecast period. The spiral submerged arc welded (HSAW) pipe market is faced with other Competition for other pipe materials. Steel pipe is preferred in applications requiring high strength and durability.
Global Helical Submerged Arc Welded (HSAW) Pipes Market:
| Attributes |
Global Helical Submerged Arc Welded (HSAW) Pipes Market |
| CAGR(2023 to 2033) |
4.3% |
| Market Value |
US$ 9.8 billion |
| Growth Factor |
The growing construction industry and increasing government investment in infrastructure projects are expected to boost market sales in the forecast period. |
| Opportunities |
Increasing demand from various end-use applications to offer opportunities for market expansion in the forecast period. |
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