Steel Pipes & Tubes Market Trends, Cost Structure Analysis, and Forecasts 2027
Steel Pipes & Tubes Industry Overview The global steel pipes & tubes market size is anticipated to reach USD 231.1 billion by 2027 registering a CAGR of 6.2%, according to a new report by Grand View Research, Inc. Long-term demand for energy on the global level is anticipated to boost the market growth. According to the EIA, global energy consumption is projected to reach 736 quadrillion BTU by 2040 from 575 quadrillion BTU in 2015, witnessing an increase of 28%. The use of liquid fuels and petroleum is likely to grow from 90 million b/d in 2012 to 1000 million b/d by 2040 on a global level. The growth in demand for these liquid fuels is mainly due to the industrial and transportation sectors. Steel Pipes & Tubes Market Segmentation Grand View Research has segmented the global steel pipes & tubes market on the basis of technology, application, and region: Based on the Technology Insights, the market is segmented into Seamless, ERW and SAW. In terms of ...