The worldwide Electric Resistance Welded (ERW) Pipes And Tubes Market is expected to be worth USD 71.9 million in 2023. According to the Future Market Insights report, the market is predicted to expand at a CAGR of 5.2% between 2023 and 2033, totaling around USD 119.4 million by 2033.
The global electric resistance welded (ERW) pipes and tubes market was estimated to be worth USD 67.5 million in 2022 with an absolute dollar growth of USD 47.5 million.
Global demand for electric resistance welded (ERW) pipes, especially mirrors, trends in the oil and gas and construction industries, are all significantly altered by the measures of infrastructural developmental projects. ERW pipes were mainly used in oil and gas pipelines and sewage transportation in earlier days.
Moreover, improvement in load-bearing strength has now found applications in EPW industries such as infrastructure, pre-fabricated structures, solar plants, furniture, etc.
Post-pandemic growth in the ERW line pipes has seen an estimation of a rise in the pipes and tubes market thus, driving the plans of leading oil and gas, power companies, etc. for the establishment of cross-country line pipes.
Further, recovery in oil and gas prices and revitalization in concise budgets are expected for encouraging opportunities for growth for Line pipes worldwide.
Rise in investments in sectors like power generation and automotive are on the verge of increasing government investments in infrastructural projects like water and sewage systems to promote an expansion in the market.
Uncertainty around Russia’s war on Ukraine played out earlier in the year and the war’s role in the creation of global instability meant that the trouble landing on the inflation front is not over yet.
Food and fuel inflation continues to remain a constant economic problem where high retail inflation is going to consequently impact consumers’ confidence and their spending patterns.
Governments are asserting inflation by the rise in interest rates, where new job creation might automatically slow down impacting economic activity and growth.
| Attributes | Details |
|---|---|
| Estimated Value (2022) | USD 67.5 million |
| Projected Forecast Value (2023) | USD 71.9 million |
| Projected Forecast Value (2033) | USD 119.4 million |
| Growth rate | 5.2% CAGR |
| Forecast period | 2023 to 2033 |
| Global Market Absolute Dollar Growth (USD million/billion) | USD 47.5 million |
Explore FMI!
Book a free demo
The electric resistance welded (ERW) pipes and tubes market grew a CAGR of 7.6% from 2018 to 2022, as per Future Market Insights, a provider of market research and competitive intelligence.
The global economy is considered to be at a critical intersection with several continual challenges and crises that are running in parallel. Moreover, low capital expenditure is in the prospect as companies slow down their investments, due to inflation worries.
Consequently, weakening their demand and leading to slow growth and high inflation, where developed markets seem to be ready for entering into a recession.
Fears of new COVID outbreaks and China’s already uncertain post-pandemic path have certainly posed a real risk to the world that is experiencing acute supply chain pain and manufacturing disruptions arising this year.
Volatile financial markets, growing trade tensions, etc. have mainstreamed their climatic change into economic decisions that might compound the complexity of challenges faced.
The year 2023 is estimated to be a tough year for many markets, investors, and consumers but there is always an opportunity for businesses and their leaders who can tabulate a path forward with flexibility and versatility.
Surging Demand from Automotive and Agriculture Industries to Drive Market Growth
Electric resistance welded (ERW) pipes and tubes market is significantly used as automobile muffler condensation pipes, automobile axle tubes, automobile shock absorbers, automobile exhaust pipes, and control shaft tube stack pipes in the automotive industry.
The rapid growth of the automotive industry and the rise in demand for light vehicles is estimated to boost the consumption of products. Select USA (The International Trade Administration) mentions that, car sales and manufacturing are considered the world's second most leading market.
The height in demand for the electric resistance welded (ERW) pipes and tubes market can also be seen in the agriculture industry for supplying water to farms. Demand is based on different properties, like excellent toughness, hardness, etc.
Department of Agriculture (USDA), agriculture, food, and associated industries are accounted to have 5.2% of the total GDP resulting in the rise of the demand for the product in the agriculture industry.
The Presence of Low-cost Alternatives for Electric Resistance Welded (ERW) Pipes and Tubes Market to Hamper the Growth of the Market
The availability of cheap alternatives, like aluminum and plastic pipes and aluminum tubes has led to deterioration in the demand for the electric resistance welded (ERW) pipes and tubes market acting as a key restraint for the market. Electric resistance welded (ERW) used in the tubes and pipes is heavy and not water-resistant like these alternatives.
Some of the alternatives’ properties are also better in comparison to steel, inclusive of corrosion resistance. Stringent regulations for the electric resistance market are manufactured leading several manufacturers in switching to alternative options resulting in restricting the consumption of the electric resistance welded (ERW) pipes and tubes market growth.
The United States Holds a Dominant Position in the Market
The electric resistance welded (ERW) pipes and tubes market in North America holds a market share of 51.6% whereas the United States is estimated at USD 21.4 million during the forecast period where the country currently accounts for a 5.2% share in the global market.
This growth is mainly attributed to the strong economic growth of individual countries in these regions, and the increase in activity in such end-use sectors as oil, power, and refineries.
Growth in the United States market is primarily associated with the recovery in spending amidst the nation`s exclusion tapping on the huge for meeting the rising demand for energy and achieving energy security.
Asia Pacific is Said to have Significant Market Growth Leading to the Sales of the Products
Asia Pacific is emerged as the leading regional market and accounted for a revenue share of over 44% where China is anticipated to boost further at a notable rate with a CAGR of 5.1 % from 2023 to 2033 due to rising product consumption in the region earning USD 27.7 million.
Japan is also estimated to hold a notable part of this market product where consumers in this region owe a growth value with a CAGR of 4.3% earning USD 16.2 million.
Oil and Gas are Projected to Dominate the Market Region
The oil and gas segment led the market and accounted for a high growth in the revenue share of over 51% where this segment might considerably retain its leading position over the forecasted period.
It is due to the diversity in applications of the products in the oil and gas sector and transportation processes like piping for refining crude oil into petroleum products.
Standard Pipes are Estimated to Gain the Market Region
Standard pipes are mainly used in the transference of gaseous and fluidic substances that are mainly used in residential, commercial, and industrial applications.
Standard Piping is important as it helps in accomplishing fluid and gases with high parameters that are constraints to high temperature or high pressure. Standard pipes are thus said to hold a market share of 34.4% in this section
Prominent Players Operating in the Global Market
Important Developments of the Key Players in the Market:
This new mill might have an annual capacity of 2.6 million tons, as well as a Direct Reduced Iron (DRI) module with an annual capacity of 2.1 million tons. The project will include the construction of a port installation to manage raw materials.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 5.2% from 2023 to 2033 |
| Market value in 2023 | USD 71.9 million |
| Market value in 2033 | USD 119.4 million |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | USD million for Value and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | By Region, By Type, By Application |
| Regions Covered | North America; Latin America; Europe; Asia Pacific; The Middle East and Africa |
| Key Countries Profiled | The United States, Canada, Brazil, Mexico, Rest of Latin America, Germany, The United Kingdom, France, Spain, Italy, Rest of Europe, China, Japan, South Korea, Singapore, Thailand, Indonesia, Australia, New Zealand, Rest of Asia Pacific, GCC countries, South Africa, Israel, Rest of the Middle East and Africa |
| Key Companies Profiled | Nippon Steel & Sumitomo Metal Corporation; EVRAZ North America; Northwest Pipe Company; TMK IPSCO, Welspun; Wheatland Tube Company; ChelPipe; Techint Group; JFE Steel Corporation; Arabian Pipes Company; ArcelorMittal SA |
| Customization Scope | Available on Request |
The market is estimated to secure a valuation of USD 71.9 million in 2023.
The market is estimated to reach USD 119.4 million by 2033.
Through 2033, the market is anticipated to expand at a 5.2% CAGR.
Demand from the automotive and agricultural industries is expected to spur market growth.
During the projection period, the oil and gas segment accounted for 51% of the total sales.
In this category, standard pipes are expected to acquire a market share of 34.4%.
Airfield Fencing Market Insights by Material, Height, Product Type, and Region through 2035
Korea Electric Sub-Meter Market Analysis by Product Type, Phase, Application and Region: Forecast for 2025 to 2035
Internal Gear Pump Market Growth, Trends, Analysis & Forecast by Product Type, End-Use Industry and Region through 2035
Radial Piston Motor Market Analysis & Forecast by Product Type, Automation, End-Use Industry and Region through 2035
Automation COE Market Insights by Organization Size, Service Type, End User Verticals, and Region through 2035
Rubber Conveyor Belt Market Analysis by Product Type, End Use, and Region through 2035
Electric Resistance Welded (ERW) Pipes and Tubes Market
Thank you!
You will receive an email from our Business Development Manager. Please be sure to check your SPAM/JUNK folder too.
