In an updated edition of the global casing pipe market report, FMI estimates the industry to reach a valuation of USD 12,939.30 million in FY 2024. The market is expected to expand owing to rising demand in the oil and gas industry. Increasing geothermal projects is another key factor, which is going to raise the product’s adoption.
The market is forecast to generate revenue of USD 22,738.90 million by 2034, expanding at a CAGR of an average of 5.80%. To meet the surging demand, manufacturers are expected to design their encasement pipes for unconventional shale plays.
| Attributes | Key Insights |
|---|---|
| Casing Pipe Market Share (2024E) | USD 12,939.30 million |
| Market Valuation (2034F) | USD 22,738.90 million |
| Value-based CAGR (2024 to 2034) | 5.8% |
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
In the following section, a peek-through is given for markets competing with the casing pipe industry. These markets are the pre-insulated pipe market and the pipe market. Growth potential in these three markets is almost the same. However, players can strategize for diversification to increase their recognition in the market.
Casing Pipe Industry:
| Attributes | Casing Pipe Industry |
|---|---|
| CAGR (2024 to 2034) | 5.8% |
| Growth Factor | Rising demand from oil and gas industry |
| Opportunity | Water issues across the globe |
| Key Trends | Increasing research projects to develop advanced pipes |
Pipe Market:
| Attributes | Pipe Market |
|---|---|
| CAGR (2024 to 2034) | 5.1% |
| Growth Factor | Increasing adoption in water supply and sewage systems |
| Opportunity | Rising infrastructure development activities |
| Key Trends | Innovations in pipe materials |
Pre-Insulated Pipe Market:
| Attributes | Pre-Insulated Pipe Market |
|---|---|
| CAGR (2024 to 2034) | 5.7% |
| Growth Factor | Accelerating demand for energy-efficient solutions |
| Opportunity | Rising investments in developing countries |
| Key Trends | Increasing government incentives |
Principal Consultant
| Leading Material Type | Steel Casing Pipes |
|---|---|
| Value Share (2024) | 45.50% |
The demand for steel encasement pipes is rapidly increasing for multiple applications. In 2024, this segment is going to hold 45.50% in 2024. These pipes are used to protect water and sewer lines, electrical and fiber optic cables, as well as gas and oil pipelines. Additionally, these pipes are progressively being used to protect utility lines underground.
| Leading End Use | Oil Wells |
|---|---|
| Value Share (2024) | 60.30% |
Oils wells are the leading end user of casing pipes. They account for 60.30% of the global market. These large-diameter pipes are used to line the drilled wellbore and offer structural support to the well during production and drilling operations. They help prevent cave-ins, protect the well from external forces, and assist in efficient extraction of oil.
In the oil and gas industry, the steel pipes are increasingly used to transport oil and other liquids due to their durable, strong, and corrosion-resistance nature.
| Countries | Forecast CAGR (2024 to 2034) |
|---|---|
| The United States | 4.40% |
| Germany | 4.80% |
| China | 6.20% |
| India | 5.90% |
| Japan | 5.30% |
The casing pipe market in the United States is projected to surge at a CAGR of 4.4% over the assessment period. Significant count of encasement pipe manufacturers, wholesalers, and suppliers has made the United States a challenging market for new players.
Established players in the market are meeting the demands of energy customers through a wide range of tubing and encasement products. These include high-strength, high-quality, seamless, high toughness, and high-frequency electric weld (ERW) pipes that is designed to tackle the new generation of problems.
Their application extends to electrical and fiber optic cables, gas and oil pipelines, sewer, and water lines. Industry players, including distributors, manufacturers, and fabricators, are offering virtually all possible wall thickness/diameter/ length configurations to meet the demands of the end-use industries.
The demand for casing pipe in Germany is pacing at a CAGR of 4.8% through the forecast period. Increasing developmental projects in the country is raising the sales of these pipes. For instance, in October 2023, Tenaris, which is a Luxembourg-based steel pipe producer supplied steel pipes for Graben-Neudorf geothermal project.
The project is situated near Karlsruhe, Germany, and includes two wells of 4,000 meters deep. The intent behind this project is to produce heat and electricity. The company is expected to continue expanding their capabilities and product range in the following years.
These pipes are increasingly being used in process heating and district heating systems as well as hot water industrial pipelines. This is because they perform well in high pressure and temperature levels.
As projects have been continuously flowing in Germany, similarly the country has experienced shutdown of steel pipe operations. For instance, in September 2023, Vallourec winded down its steel pipe operations in Germany after failing to find any investors.
The growth of the casing pipe industry in China is projected to rise at a CAGR of 6.20% through 2034. The market is flourishing in China due to higher demand for these pipes in the country, more than in other Asian countries.
Constant innovations by key players are rapidly advancing this market. For instance, in September 2023, Puyang Zhongshi Group, a prominent producer and supplier of progressive oilfield equipment, launched a breakthrough product, called Torque Ring. The product is designed to transform the torque transmission in drilling operations. This competitively priced product is expected to experience increased uptake among end users.
The European Commission (EC) in July 2023 announced the extension of anti-dumping duty on the imports of certain thick-rolled, seamless pipes from China. The tariffs on products from China have been decided to be at 29.2-54.9% level, based on the particular factor that supplies Chinese products.
Similarly, in the historical period, duties were finalized on steel pipes from China from the United States. This was done to protect the American producers from the imports of large-diameter welded steel pipe supplied from China.
The sales of casing pipe, also called encasement pipe, is increasing in India at a CAGR of 5.90% over the estimated time-frame. The market is estimated to surge on account of robust expansion in the agriculture sector as the Indian government is investing in water transportation facilities for the sector.
Key players are thus gearing up for new projects by enhancing their product portfolio. Raksha Pipes, for instance, which is a key provider of encasement pipe in India, announced in October 2023 that it is planning to revamp its product portfolio.
The group has the vision to expand its capacity 10X in the next five years. The company has also planned the construction of warehouses in locations like Bihar, Odisha, and Jharkhand to strategically prepare for the agri-pipe market.
The casing pipe market in Japan is predicted to lift up at a CAGR of 5.3% over the forecast period. The demand for encasement pipe is increasing due to various water-related issues the country is facing.
A recent earthquake that impacted the Noto Peninsula in the beginning of 2024 exposed Japan’s frailty of the water supply system. Several pipes are half a century old and are not even earthquake proof. With continuous bursting of water pipes, the country is expected to invest in infrastructure in upcoming years. This is expected to create opportunities for industry players.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Key players are investing on enhancing and adding more features to the encasement pipes to meet the exacting demands on encasement pipes. Additionally, they are delivering the encasement pipes in custom lengths as per the specified measures by the end users.
New projects like the introduction of geothermal developmental projects are expected to raise the demand for encasement pipes with high quality, strength, and toughness. Apart from this, expansion in sectors like agriculture is projected to raise the adoption of these pipes. These factors are expected to motivate the active players to ramp up their production of these thick rolled pipes over the next few years.
Key players are further expanding their geographical presence and diversifying their product profile to stay competitive in the global market.
Colonial Teltek
Colonial Teltek, a United States distribution company, offers HDPE encasement pipes in varied sizes and dimensions. The firm caters to outsides plant, utility, and telecommunications industries.
APL Apollo Pipes
APL Apollo Pipes is a prominent manufacturer of pipes and fitting in India, offering an extensive range of pipes like PVC pipes, encasement pipes, Agri pipes, etc. The encasement pipes provided by the company comes in two categories, including screen (slotted) and plain pipes. They are easy to install as well.
Pittsburgh Pipe
Pittsburgh Pipe is a United States company that offers industrial pipes, including steel encasement pipes. The firm also alters the steel encasement pipe according to the customer’s specifications.
News Coverage for Casing Pipe Market
Current projections of casing pipe market indicate a valuation of USD 12,939.30 million in 2024.
Looking ahead to 2034, the current forecast projects a CAGR of 5.8% for the encasement pipe industry.
FMI predicts the market to reach USD 22,738.90 million by the year 2034.
Steel casing pipes is predicted to hold a significant market share during the forecast period.
China is predicted to offer opportunities for investors and stakeholders.
EVRAZ, Hannon Hydraulics, and Offshore Energy Services Inc. are powerful players in the encasement pipe industry.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2019 to 2023 and Forecast, 2024 to 2034 5. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material Type 5.1. Steel Casing Pipes 5.2. Plastic Casing Pipes 5.3. Fiberglass Casing Pipes 5.4. Composite Casing Pipes 6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Casing Type 6.1. Conventional Casing (Non-Slotted) 6.2. Slotted Casing 6.3. Perforated Casing 6.4. Screen Casing 7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By End Use 7.1. Oil Wells 7.2. Gas Wells 7.3. Geothermal Wells 8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 10. Latin America Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 11. Western Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 12. Eastern Europe Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 13. South Asia and Pacific Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 14. East Asia Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 15. Middle East and Africa Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Apollo Pipes 18.2. Vectus 18.3. Northwest Pipe Company 18.4. United Drilling Tools Limited 18.5. Pipe Industries Corporation 18.6. Linde Corrotech International LLC 18.7. Tenaris 18.8. Vallourec 18.9. DukePipes 18.10. Hindustan Pipe 18.11. Astral Pipes 18.12. Dutron 18.13. Skipper Limited 18.14. Unitech Pipes 18.15. Swami Plast Industries 18.16. Sudhakar Pipes 18.17. Tatva Plastics Pipes Pvt. Ltd. 18.18. Utkarsh India 19. Assumptions & Acronyms Used 20. Research Methodology
Explore Industrial Automation Insights
View Reports
Casing Pipe Market
