Steel Pipes & Tubes Market Represents A CAGR Of 9.0% For The Forecast Period From 2019 To 2025 : Grand View Research Inc.
San Francisco, 8 November 2019: The Report Steel Pipes & Tubes Market Size, Share & Trends Analysis Report By Technology (ERW, SAW, Seamless), By Application (Power Plant, Chemicals & Petrochemicals, Oil & Gas), By Region, And Segment Forecasts, 2019 – 2025 The global steel pipes & tubes market size is anticipated to reach USD 258.9 billion by 2025, accelerating at a CAGR of 9.0% over the forecast period, according to a new report by Grand View Research, Inc. The market growth is majorly driven by the rising demand for pipelines & tubes, especially from the oil & gas sector. The production of natural gas increased by 3.6% from 2016 to 2017, as per the International Energy Agency. Increasing demand for crude oil & natural gas is likely to boost the need for pipes & tubes in oil & gas industry as they are used for transportation over long distances. The properties of steel pipes such as high strength, toughness, and impact resistan