Steel is one of the major raw materials used in manufacturing natural gas pipelines and the cost of steel amounts to approximately 16% of the total cost for manufacturing one mile of gas pipeline. As a result, the current trend of decreasing steel prices will substantially drive the growth of the natural gas pipeline market in the next few years.
Among all factors, increasing number of onshore for natural gas pipeline will have a positive impact on the growth of the market. Plus, the increasing investment in R&D of the product will lead to better products. However, the rise in energy prices increases the manufacturing costs, the reduction in prices of Iron ore and steel scrap, which are used as raw material to make steel, will fuel the growth of the natural gas pipeline market during the forecast period.
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The global natural gas pipeline market is studied across major four regional markets including North America, Europe, Asia-Pacific, and LAMEA. North America is expected to be the largest market in the coming years in response to increase in several technological developments. In addition, rise in investments on service-based things in the oil & gas industry is further expected to complement the growth of this region.
Major players analyzed include Gastite, Omega Flex, Kinder Morgan (KMI), Natural Gas Pipeline, Weber, Inter Pipeline, Continental Industries, Wheatland Tube, Caspian Pipeline Consortium and Northern Natural Gas.
- The global market for natural gas pipelines is severely impacted by the outbreak of the COVID-19 pandemic.
- The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns.
- Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
- Thus, insufficiency in raw material supply is expected to hamper the production rate of natural gas pipelines, which negatively impact the market growth.
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Key benefits of the report:
- This study presents the analytical depiction of the global natural gas pipeline market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global natural gas pipeline market share.
- The current market is quantitatively analyzed from 2020 to 2027 to highlight the global natural gas pipeline market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global natural gas pipeline market analysis based on competitive intensity and how the competition will take shape in coming years.
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