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COTTAGE DE LA VALLEE, New York, September 18, 2018 / PRNewswire / –
Global Carbon steel tubes in oil aGas Elevator Application Market: Overview
In a recently published analysis, Future Market Insights (IMF) investigated various market dynamics, including key drivers, trends and growth scenarios for the global carbon steel pipe market, focusing on the main applications of lifting of carbon steel tubes. carbon steel tubes in the oil and gas industry over the forecast period 2018-2028. Market projections reveal revenue from sales of carbon steel pipe for elevator application in oil and gas industry to achieve a valuation of US $ 7,029.8 million by the end of 2028, against an estimate US $ 4,799.5 million by the end of 2018, with a moderate CAGR of 3.9% through 2028. IMF predicts that increasing drilling activity to supplement the recovery in crude oil prices will boost sales of carbon steel pipe for a wide range of applications in the oil and gas industry.
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Growing number of horizontal wells in the United States coupled with booming oil and gas production in the United States Gulf of Mexico, Alaska, and the other states, will further stimulate the growth of the carbon steel pipe market through 2028. With a 1.6% year-on-year growth over the period 2015-2030, the consumption of natural gas is expected to increase, this which will further stimulate the production of shale gas. resulting in an increasing demand for carbon steel pipes. This growth should present potential opportunities for oil and gas companies looking to expand their onshore businesses. In addition, the high costs and complexity associated with offshore activities would cause service providers to switch to onshore activities.
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Geographically, North America is expected to dominate the carbon steel pipe landscape given the ongoing developments in the hydraulic fracturing market for natural gas production.
Increasing upstream oil and gas operations to boost carbon steel tubing in elevator applications
IMF plans to increase the number of horizontal wells to significantly contribute to the deployment of carbon steel pipe in upstream oil and gas operations, thereby providing potential market opportunities for steel pipe manufacturers and suppliers in the world. carbon. Additionally, oil and gas companies replacing aged and damaged cast iron and wrought iron pipe with carbon steel pipe will drive adoption. Another key factor driving the demand for carbon steel pipe is the recovery of the oil and gas industry and the efforts to facilitate this recovery process. Increased shale drilling activity in the United States and Canada will also stimulate the demand for carbon steel pipes during the forecast period. Additionally, technological advancements in coating products to combat pipe corrosion have also supported the deployment of carbon steel tubing in oil and gas transportation applications.
Global Carbon Steel Tubing Analysis Overview in Oil & Gas Elevator Application Market Segmentation – By Outside Diameter (60-120mm, 121-250mm); By coating (coated on the inside, coated on the outside); By end use (Onshore, Offshore): https://www.futuremarketinsights.com/reports/carbon-steel-tubing-in-oil-and-gas-lift-applications-market
Chinese material alternatives and overproduction of steel could negatively impact the carbon steel pipe market
However, the availability of alternative materials such as steel, alloy steel, chromium steel, fiberglass, fiber reinforced plastic and corrosion resistant alloys could restrict the adoption of steel pipes. to carbon in oil and gas transportation applications. Oil and gas companies change their tubing requirements based on the required application on land and at sea associated with varying temperature conditions. Another key factor that is expected to negatively impact carbon steel pipe manufacturing is the asymmetric supply-demand ratio of steel due to oversupply and oversupply of Chinese steel. This situation led to cheap exports and the subsequent closure of many steel plants, which further led to a drop in carbon steel prices.
NPD and Tie-Ups will remain key futures market strategies in the moderately concentrated carbon steel pipe market
IMF predicts moderate concentration and strong competition in the global carbon steel pipe market in oil and gas transportation applications, given the presence of dominant Chinese and Asian players. In addition, the high initial installation costs constitute a barrier to the entry of new players into the market. In terms of global market strategies, the development of robust and innovative tubes, associated with strategic partnerships and mergers with end-use companies and distributors, will fit into the grand scheme of things.
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