Spiral Welded Pipes and Tubes: A Global Strategic Business Report - a new market research report on companiesandmarkets.com
PR-Inside.com: 2014-03-13 02:09:01
The global Spiral Welded Pipes market is projected to reach 24.6 million tons by 2018, driven by economic recovery, level of activity in the energy sector, and intensifying pipeline construction activity.
Spiral welded pipes market, though encountering overcapacity conditions particularly in North America, is expected to witness steady growth in the upcoming years driven by the implementation of new pipeline projects. Investments in oil and gas exploration and production, which are influenced by prevailing crude oil & gas prices, have a considerable impact on the demand for spiral welded pipes and tubes. Resurgent world economy and consequent increase in the demand for industrial natural gas is expected to drive up momentum of the spiral welded pipes market.
Asia-Pacific represents the largest market worldwide, driven primarily by increased use in transporting natural gas. Besides Asia-Pacific, Latin America ranks among the fastest growing regional markets with compounded annual growth rate ranging between 7.5% and 9.0% over the review period. North American market, on the other hand, is encountering testing times owing to weak demand and overcapacity conditions. Oversupply is the major concern for spiral welded pipes market particularly with regard to large diameter double submerged arc welded or DSAW line pipes, which finds use in transmitting oil, natural gas liquids, and natural gas to consumers from drilling locations.
Replacement of aging infrastructure offers huge potential for pipe manufacturers. The need to replace old pipelines is particular high in the US and Russia, where pipeline networks were mostly installed during the 60s and 70s. With the average lifespan of oil and gas transportation pipes ranging between 25 and 30 years, opportunities in the replacement market are huge, particularly for HSAW pipes. In the US, replacement demand holds enormous potential as a result of the recent enactment of the legislation that necessitates more inspections to be carried out, which could increase the likelihood of pipeline replacements. The Act is likely to play a critical role in enabling manufacturers of large diameter line pipes to survive the tough economic and overcapacity conditions.
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