New York, NY -- (SBWIRE) -- 03/05/2021 -- Market Size – USD 480.54 Billion in 2018, Market Growth - CAGR of 5.3%, Market Trends-Emergence of countless new opportunities for the Asia Pacific market.

The Industrial Tubes Market is expected to reach USD 729.12 Billion by 2026, according to a new report by Reports and Data. Industrial Tubes Market is driven principally by the oil and gas industry. Construction activities led by developing economies across the world will further boost the growth of Industrial Tubes Market. For the variability of applications like device, structural among others, industrial tubes are widely employed in the oil & gas industry. Factors like less demand for industrial tubes from saturated markets restricts the progress of the economic tubes market. Unstable costs of raw materials and stringent government laws in several countries are the challenges faced by the market.

The market in the North America region is expected to witness the highest CAGR of 5.4% during the forecast period. Rapidly increasing product demand in the US and growth in the manufacturing of the industrial tubes in the country will propel the growth of industrial tubes market in North America.

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The Key players in the Industrial Tubes Market include: Nippon Steel & Sumitomo Metal Corporation (NSSMC), Sandvik AB, Tenaris, Vallourec S.A., Tata Steel, United States Steel Corporation, Tubacex, Benteler, AK Tube LLC, Aperam, Kme Germany Gmbh & Co Kg, Acciai Speciali Terni S.P.A., Macsteel, Tubos Apolo, Ratnamani Metal & Tubes Ltd, Heavy Metals & Tubes Ltd., Divine Tubes Pvt. Ltd, Eisenbau Krämer Gmbh.

Further key findings from the report suggest
- The Industrial Tubes Market is estimated to reach USD 729.12 Billion by 2026, at a CAGR of 5.3% during the forecast period.
- The process pipe type accounts for the largest share of 25.7% of the market in 2018.
- The steel material is anticipated to grow at a higher rate of 5.4% during the forecast period.
- The automotive end user segment is anticipated to grow at the highest rate of 5.6% during the forecast period.
- The seamless manufacturing process is anticipated to grow at a higher rate of 5.7% during the forecast period.
- Increasing construction activities in developing economies is also an essential factor fueling the Industrial Tubes Market.
- Several governments in the Asia Pacific region are investing in both public and private enterprises to support infrastructure in countries like India and China.
- The Asia Pacific region accounts for the largest share of 31.3% of the market in 2018. The Industrial Tubes Market is anticipated to witness increasing demand from India, China, and other countries of the region.
- The Industrial Tubes Market is anticipated to witness increasing demand from India, China, and other countries of the region. Expansion in the chemical and petrochemical industry owing to the growing consumption of chemical products is driving the growth of the market. In economies such as Sri Lanka, India, and Bangladesh, there is a substantial market for automobiles used for industrial purposes which is further expected to propel the growth.

For the purpose of this study, Reports and Data have segmented the market on the basis of Material, Type, End Users, Manufacturing Process, and region:
Material Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Steel
- Non-Steel

Type Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Process Pipes
- Structural Tubes
- Heat Exchanger Tubes
- Mechanical Tubes
- Hydraulic & Instrumentation Tubes
- Others

End User Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Oil & Gas Industry
- Automotive Industry
- Construction Industry
- Chemical Industry
- Others

Manufacturing Process Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- Seamless
- Welded

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Regional Outlook (Volume, Kilo Tons; and Revenue, USD Million; 2016-2026)
- North America
o U.S.
- Europe
o France
o UK
- Asia Pacific
o China
o India
o Japan
- Latin America
o Brazil
- Middle East & Africa

Table of content:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2018-2026
Chapter 3. Indicative Metrics
Chapter 4. Industrial Tubes Market Segmentation & Impact Analysis
4.1. Industrial Tubes Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Various features of industrial tubes
4.2.2.2. Growing use of steel tubes in end-user industries
4.2.3. Market restraints analysis

Continued…

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