Asia Pacific Steel Pipes & Tubes Market Size & Outlook
Asia Pacific steel pipes & tubes market, 2018-2030 (US$M)
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Asia Pacific steel pipes & tubes market highlights
- The Asia Pacific steel pipes & tubes market generated a revenue of USD 120,050.7 million in 2022.
- The market is expected to grow at a CAGR of 4.5% from 2023 to 2030.
- In terms of segment, oil & gas was the largest revenue generating application in 2022.
- Power plant is the most lucrative application segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2023 to 2030.
Asia Pacific data book summary
| Market revenue in 2022 | USD 120,050.7 million |
| Market revenue in 2030 | USD 170,575.1 million |
| Growth rate | 4.5% (CAGR from 2022 to 2030) |
| Largest segment | Oil & gas |
| Fastest growing segment | Power plant |
| Historical data covered | 2018 - 2021 |
| Base year for estimation | 2022 |
| Forecast period covered | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Construction, Oil & gas, Chemicals and petrochemicals, Automotive & transportion, Mechanical engineering, Power plant |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Nippon Steel Corp, Steel Authority Of India Ltd DR, Tata Steel Ltd GDR - 144A, Thyssenkrupp AG, United States Steel Corp |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 64.7% of the global steel pipes & tubes market in 2022.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 170,575.1 million by 2030.
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Steel Pipes & Tubes Market Scope
Steel Pipes & Tubes Market Companies
| Name | Profile | # Employees | HQ | Website |
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Asia Pacific steel pipes & tubes market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to steel pipes & tubes market will help companies and investors design strategic landscapes.
Oil & gas was the largest segment with a revenue share of 48.73% in 2023. Horizon Databook has segmented the Asia Pacific steel pipes & tubes market based on construction, oil & gas, chemicals and petrochemicals, automotive & transportion, mechanical engineering, power plant covering the revenue growth of each sub-segment from 2018 to 2030.
The global demand for electricity is poised for rapid growth, with an estimated increase of 3.3% in the Asia Pacific region in 2022. According to the Electricity Market Report published by International Energy Agency (IEA), in 2023, Asia Pacific is expected to account for half of the world’s electricity consumption by 2025.
The surge in demand is driven by developing economies in the region, notably China, India, and Southeast Asia, accounting for over 70% of the global growth in demand for electricity. According to the report published by International Energy Agency (IEA), in May 2020, India is positioned to play a significant role in boosting the overall gas demand in Asia.
An expected rise of around 28 billion cubic meters per year, in terms of overall consumption, is forecast from 2019 to 2025. This surge is attributed to supportive government policies and improvements in LNG and pipeline infrastructure.
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Our clientele includes a mix of steel pipes & tubes market companies, investment firms, advisory firms & academic institutions.
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Horizon Databook provides a detailed overview of continent-level data and insights on the Asia Pacific steel pipes & tubes market , including forecasts for subscribers. This continent databook contains high-level insights into Asia Pacific steel pipes & tubes market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Asia Pacific steel pipes & tubes market size, by country, 2018-2030 (US$M)
Asia Pacific Steel Pipes & Tubes Market Outlook Share, 2023 & 2030 (US$M)
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