Scope of the Study
The global Precision Tubes market is expected to witness high demand in the forecasted period due to increasing demand from the various end-user industries. Precision Tubes has expanded the diameter of the pipe to finish the process that is the thermal expansion of the pipe production. These pipes are used in various application industries like oil and gas, automotive, shipbuilding, power plants, sugar mills and distilleries, cement and construction industries, etc. The upsurging demand from the automotive and healthcare industry is helping to boost the global market. Precision tubes are produced from effective high-grade metal and are tested on a range of international and Indian standards. These are extensively used in manufacturing stem steering systems, gas spring applications, shock absorber, propeller shafts, tie rods, side-impact beam, and others. Moreover, the tubes are made with precise dimensions, developed on modern designs. It possesses features such as immense tensile strength, corrosion resistance, environmentally friendly, and superior strength. It is used in industries such as automotive, bicycle, general, textile, and furniture applications.
The market study is being classified by Type (Thin Wall and Thick Wall), by Application (Automotive, Energy, Mechanical Engineering and Medical) and major geographies with country level break-up.
Sandvik (Kanthal), Fine Tubes, Vallourec, Hi-Tech Pipes, Pennar, SSAB, Mannesmann Stainless Tubes, Salzgitter Mannesmann, Barrett Steel, Liberty House, Tata Steel, Voestalpine, Akshar Precision Tubes, Superior Tube, Bornay, Hoberg & Driesch, Industrias Duero, Foerster, Prestar and KLT are some of the key players profiled in the study.
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches, and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
AdvanceMarketAnalytics has segmented the market of Global Precision Tubes market by Type, Application and Region.
On the basis of geography, the market of Precision Tubes has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2019. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Increase in usage of precision tubes in various industries
- The demand for precision tubes is increasing owing to its properties such as corrosion strength, and resistance
- High adoption from the automotive industry
- The rising demand from the health care industry for manufacturing various equipment
- The growing concern regarding the accessibility of substitutes
- The increasing demand from the developing and developed countries due to growth in the automotive industry
- The disruption in the supply chain due to the pandemic COVID-19
Key Target AudiencePrecision Tubes Manufacturers, Suppliers, Government Regulatory Bodies, Private Research Organization, Government Research Organization and Others
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Data related to EXIM [Export- Import], production & consumption by country or regional level break-up can be provided based on client request**
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