DUBLIN--(BUSINESS WIRE)--The "Spiral Submerged Arc Welding (HSAW) Pipeline-Global Market Trajectory and Analysis" report has been added to ResearchAndMarkets.com's products.
The global market for spiral submerged arc welding (HSAW) pipelines in 2020 is estimated to be US$5.1 billion, and is expected to reach a revised US$6.3 billion by 2026, growing at a compound annual growth rate of 3.4% during the analysis period.
18-24 inches is one of the market segments analyzed in the report, and is expected to grow at a compound annual growth rate of 3.2% by the end of the analysis period, reaching $1.6 billion. After a thorough analysis of the business impact of the pandemic and the economic crisis it triggered, the growth of the 24-48 inch segment will be readjusted to a revised 3.7% compound annual growth rate for the next 7 years. This segment currently accounts for 60.8% of the global spiral submerged arc welding (HSAW) pipeline market.
HSAW pipes are mainly used for land transportation of oil and natural gas, water distribution and cooling water pipelines of power generation facilities. In addition, these pipes are also used in structural applications, such as piling in civil engineering buildings such as high-rise buildings and bridges. Earlier, the use of HSAW piping was limited to low pressure applications.
However, improvements in manufacturing technology and steel grades over the years have extended its application to high-pressure applications. In addition to improvements in investment in the oil and gas industry amid the surge in global energy consumption, the replacement demand for most obsolete pipeline infrastructure, especially in developed regions, offers potential growth prospects.
The U.S. market is estimated to be USD 830.2 million in 2021, while China is expected to reach USD 2.3 billion by 2026
By 2021, the U.S. spiral submerged arc welding (HSAW) pipe market is estimated to be USD 830.2 million.
The country’s current share of the global market is 15.74%. China is the world's second largest economy, and the market size is expected to reach US$2.3 billion by 2026, with a compound annual growth rate of 4.1% throughout the analysis period. Other notable geographic markets include Japan and Canada, which are expected to grow by 2.1% and 2.4%, respectively, during the analysis period. In Europe, Germany is expected to grow at a compound annual growth rate of approximately 2.3%, while other European markets (as defined in the study) will reach USD 2.4 billion by the end of the analysis period.
In recent years, driven by factors such as the launch of large-scale natural gas and shale gas exploration projects, the liberalization of natural gas prices, and the separation of pipeline transportation from the commercialization of natural gas, the United States has experienced significant growth. The climax of the domestic natural gas industry, especially the vertical shale gas industry, has injected huge investments into pipeline infrastructure development projects.
It is expected that the main part of HSAW pipeline growth in the next 20 years will come from fast-growing non-OECD economies, especially China and India, mainly due to the increasing demand for energy and the increase in infrastructure development projects.
2. Focus on selected players (61 selected players in total)
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ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1- 416- 8900
ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com US Eastern Time Office Hours Call 1-917-300-0470 US/Canada Toll Free 1-800-526-8630 GMT Office Hours Call +353-1- 416- 8900