Global Oil and Gas Market: Overview
The global oil and gas pipes market is expected to witness moderate growth attributed to growing demand for internal processing and transportation of materials during the extraction and drilling process. With the growing need for environment friendly transportation of materials and services, demand for oil and gas piping system is expected to increase globally. Manufacturers are mainly focusing on integrating smart technology such as Internet of Things and intelligent pigging techniques that allows the end users to access data related to the transportation of the materials and services. Moreover, increasing government initiatives will further encourage progress of the oil and gas pipes
The report provides an in-depth insight on some crucial aspects of the global oil and gas pipes market while providing information on important segments, factors fueling market growth, competitive landscape and growth patterns.
Global Oil and Gas Pipes Market: Dynamics
Growth of the global oil and gas pipes market is mainly bound by various micro-economic and macro-economic factors. The report reveals that the global market is mainly driven by growing need for transporting oil and gas materials for supporting the extraction and drilling projects. Increasing demand for continuous supply of the oil and gas materials during the extraction and drilling projects safely has led the manufacturers to adopt enhanced technology and materials such as stainless steel.
The report also states that adoption of enhanced technology and increasing use of the stainless steel enables the end users to transport the oil and gas materials to the production area. Moreover, growing need for transporting and storing the oil and gas materials during the extraction and drilling process will further contribute towards growth of the global oil and gas pipes market. Piping systems integrated with the enhanced technology such as Internet of Things enables the end users to retrieve information and maintain a database regarding the transportation of oil and gas materials and information on internal processing. Internet of Things integrated in the oil and gas pipes further enable access to the smart communication and analytical capabilities. In addition, increasing government initiatives further encourage progress of the global oil and gas pipes market. Bound to these factors, demand for the oil and gas pipes will continue to increase among the offshore and onshore end users globally.
In contrary to this, the report mentions various factors that continue to inhibit growth of the global market of the oil and gas pipes. End users prefer using pipes equipped with robust materials and enhanced technology that enable transportation of the oil and gas materials safely. However, installation of piping systems equipped with advanced technology requires high investment. Moreover, maintenance of the piping system equipped with enhanced technology will further add to the cost of installation. These factors will continue to inhibit sales of the oil and gas pipes in the global market.
Global Oil and Gas Pipe Market: Segmentation
In the next section, the report reveals that the global oil and gas pipe market is segmented on the basis of material type, end use, application and region. On the basis of material type, the global market is segmented as stainless steel, PVC, HDPE and others. Based on the end use, the global market is segmented as onshore and offshore activities. By application, the global market is segmented as internal process and external transportation and distribution segment.
Global Oil and Gas Market: Competition
Key market player in the global market of oil and gas pipes are Metalurgica Gerdau S.A., JSW Steel Limited, Arcelor Mittal S.A., Tenaris S.A., JFE Holdings Inc., China Steel Corporation, American Cast Iron Pipe Company, Valourec S.A., Mexichem Sab de C.V., JSW Steel Limited and Aliaxis Group S.A.