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Save to read list Published by Sara Simper , Editorial Assistant World Pipelines, Monday, 28 February 2022 13:00
The global market for large diameter steel pipes estimated at US$11.7 billion in the year 2020, is projected to reach a revised size of US$13.6 billion by 2026, growing at a CAGR of 2.6% over the analysis period. LSAW Pipes, one of the segments analysed in the report, is projected to record 2.4% CAGR and reach US$7.6 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 SSAW pipes segment is readjusted to a revised 2.9% CAGR for the next 7-year period. LSAW pipes find application in offshore and onshore oil and gas pipelines which demand high performance as well as resilience to external factors. SSAW pipes entail the use of relatively lighter equipment compared to LSAW pipes, which also contributes to significantly lower capital investments in construction and operating of the pipe mill. Although the immediate outlook for the oil and gas industry remains largely negative on the back of the COVID-19 crisis thus impacting growth in the LSAW and SSAW pipes market, long-term forecasts remain favourable on anticipated increase in oil and gas consumption from second half of 2021 onwards amid likely resurgence in energy demand.
The US market is estimated at US$1.9 billion in 2021, while China is forecast to reach US$5 billion by 2026.
Borusan Mannesmann Boru Sanayi ve Ticaret A.S.
United Metallurgical Company (AO OMK
Read the article online at: https://www.worldpipelines.com/business-news/28022022/large-diameter-steel-pipes-global-market-trajectory-and-analytics/
DTEK Group, NJSC Naftogaz of Ukraine and NPC Ukrenergo called on Western companies to stop cooperation with Russia in the fuel and energy sector.
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