ERW steel tube market in Europe to grow by USD 8.52 billion from 2022 and 2027; Growth driven by economic advantages of pipeline transportation in the oil and gas industry

News provided by

08 May, 2023, 11:15 ET

Share this article

NEW YORK, May 8, 2023 /PRNewswire/ -- The ERW steel tube market in Europe is estimated to grow by USD 8.52 billion from 2022 to 2027, according to Technavio. The market is estimated to grow at a CAGR of 6% during the forecast period. The growth of the market is driven by the economic advantages of pipeline transportation in the oil and gas industry. Pipelines are ideal for the transportation of oil and gas for long distances due to various benefits. Pipelines are highly reliable and can operate round-the-clock as there is limited dependence on external factors. They are capable of continuous transportation of oil and gas and need very less maintenance. Also, transportation of oil and gas through the pipeline is more cost-effective than rain transport. Owing to such benefits, many companies and governments are investing in new pipeline projects. This is expected to increase the demand for ERW steel tubes, which, in turn, is driving the growth of the market in focus. For more insights on the historic period (2017 to 2021) and forecast market size (2023 to 2027) - Request a sample report

What's New?

ERW Steel Tube Market In Europe - Segmentation AssessmentSegment OverviewTechnavio has segmented the market based on end-user (oil and gas, infrastructure and construction, water or sewage, automotive, and others) and product type (pressure tubing and standard pipes).

Insights on the market contribution of various segments including country and region wise, historic data (2017 to 2021), and forecast market size (2023 to 2027) - Download a Sample Report

ERW Steel Tube Market in Europe – Market Dynamics

Leading trends influencing the market

The advent of satellite-based pipeline monitoring systems is identified as the key trend in the market. Globally, a large number of pipeline projects are currently under construction or in the planning stage. These pipeline projects traverse across various terrains where both wired and wireless communications become cost-intensive. This has created the need for efficient monitoring systems that is also cost-effective. For efficient monitoring and management of pipelines in harsh terrain such as mountainous regions, vendors are offering satellite communication based on Supervisory Control And Data Acquisition (SCADA) as a cost-effective communication option. For instance, BENTEK offers SatSCADA. It is a satellite-based pipeline remote monitoring SCADA platform. It utilizes the Inmarsat geosynchronous satellite, which provides visibility without the need to reconfigure or recommission the system. This trend is expected to have a positive impact on the growth of the market during the forecast period.

Major challenges hindering the market growth

The volatile prices of raw materials will challenge the growth of the market. Raw materials, such as iron ore, used in the manufacture of steel have witnessed major fluctuations in prices over recent years. The demand for steel is increasing in the construction and other industries. However, the fluctuating prices of raw materials are hampering the production of ERW steel. Thus, the increase in the prices of raw materials is expected to negatively impact the growth of the market in focus.

Market dynamics can impact businesses significantly. Find more insights in a sample report!

What are the key data covered in this ERW steel tube market in Europe report?

Gain instant lifetime access to 17,000+ market research reports within MINUTES.Technavio's SUBSCRIPTION platform

Related Reports:

The stainless steel 400 series market size is estimated to grow at a CAGR of 7.19% between 2022 and 2027. The market size is forecast to increase by USD 11,808.01 million. The market is segmented by end-user (consumer goods, mechanical engineering and heavy industries, automotive and transportation, building and construction, and others), product type (plate and sheet, bar and tubular, and structural), and geography (APAC, Europe, North America, Middle East and Africa, and South America).

The steel manufacturing market size is estimated to grow at a CAGR of 4.02% between 2022 and 2027. The market size is forecast to increase by USD 369.6 billion. The market is segmented by end-user (construction, machinery, automotive, metal products, and others), type (flat and long), and geography (APAC, North America, Europe, Middle East and Africa, and South America).

ERW Steel Tube Market in Europe: Scope

Report Coverage

Details

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 6%

Market growth 2023-2027

USD 8.52 billion

Market structure

Fragmented

YoY growth 2022-2023 (%)

5.68

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

ArcelorMittal SA, bsh Precision Steel Tube Trading GmbH, CELSA GROUP, Ceruti Spa, Chinchurreta Group, Danieli and C. Officine Meccaniche Spa, H. Butting GmbH and Co. KG, Mannesmann Line Pipe GmbH, Ml Tubi, Nippon Steel Corp., OMV Ventura, Seeberger GmbH and Co. KG, Seyame, Siderinox SpA, SMS group GmbH, Soconord Group, Steelimpex Ltd., Tata Steel Ltd., Threeway Steel Co. Ltd., and Tubificio del Friuli SpA

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

Browse through Technavio's Materials Market Reports

Table of contents:

1 Executive Summary

2 Market Landscape

3 Market Sizing

4 Historic Market Size

5 Five Forces Analysis

6 Market Segmentation by End-user

7 Market Segmentation by Product Type

8 Customer Landscape

9 Geographic Landscape

10 Drivers, Challenges, and Trends

11 Vendor Landscape

12 Vendor Analysis

13 Appendix

About UsTechnavio is a leading technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

ContactTechnavio ResearchJesse MaidaMedia & Marketing ExecutiveUS: +1 844 364 1100UK: +44 203 893 3200Email: [email protected]Website: www.technavio.com/

SOURCE Technavio