Americas Steel Pipes Market is anticipated to register 3.6% CAGR and a top valuation of US$ 35.5 Million by 2033

Jul 13, 2023

Americas steel pipes market are anticipated to reach US$ 24.8 million in 2023, according to estimates. According to a thorough industry analysis, the market for steel pipes in America will grow at a CAGR of 3.6% and hit US$ 35.3 million by 2033.

The use of steel pipes in infrastructure for oil and gas, automobiles, sewage, and water supply has grown in importance. There are three types of steel pipes: alloys, carbon, and stainless steel. Products made of carbon steel pipe are more accessible and shock-resistant than other types of steel pipe, which significantly increases market revenue.

It is evident from investments into onshore and offshore applications, particularly in the United States and Brazil, that steel pipes are notably gaining traction in several end-use sectors, including construction, mining, water treatment, and industrial applications.

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In particular, oil and gas companies are investing in onshore and offshore applications. The market size of steel pipes in America is expected to grow significantly during the forecast period. A vast economy characterized by steady growth in recent years could remain an important market for steel pipes in the Americas. At the same time, Brazil has relatively positive prospects due to changes in government policy.

An increase in oil and gas production to meet the transportation sector's needs is one of the key factors driving the Americas steel pipe market's expansion. It is the oil and gas industry where steel pipes and tubes find their great use.– says a lead analyst at Future Market Insights.

Key Takeaways from Market Study:

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Competitive Landscape:

Steel pipe manufacturers have felt a significant impact of the pandemic in the Americas. Therefore, market players are increasingly focusing on optimizing production to meet the decline in demand with a reduction in production capacity and workforce. Additionally, key manufacturers are consolidating their presence through strategic acquisitions.

Several prominent companies dominate this market, including American Cast Iron Pipe Company, Baosteel Group Corporation, Evraz Plc, Nippon Steel & Sumitomo Metal Corporation, JFE Holdings Corporation, Hyundai Steel Company, TMK Group, United States Steel, Tata Iron and Steel, VALLOUREC, Nucor Corporation, Zekelman Industries, and others.

Recent Developments:

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Americas Steel Pipes Market Segmentation by Category

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About Future Market Insights (FMI)

Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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