Market Size of North America Oil & Gas Line Pipe Industry
| Study Period | 2020 - 2029 |
| Base Year For Estimation | 2023 |
| Forecast Data Period | 2024 - 2029 |
| Historical Data Period | 2020 - 2022 |
| CAGR | > 2.00 % |
| Market Concentration | Low |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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North America Oil & Gas Line Pipe Market Analysis
The market for oil & gas line pipe in North America is expected to grow at a CAGR of over 2% during the forecast period of 2020 - 2025. Factors such as increased exploration activities and focus on the development of new oil and gas fields are expected to help drive the market for oil & gas line pipe. Moreover, increase in offshore activities, such as deepwater and ultra-deepwater production and development, are also driving the oil and gas pipeline market. However, the global shift towards renewable sources for electricity generation poses as a huge threat to the oil and gas demand, which is likely to be a major challenge for the growth of oil and gas line pipes installation in the coming years.
- The seamless type segment is expected to witness significant demand during the forecast period, owing to the number of advantages when compared to other types.
- The rise in offshore exploration and production projects is expected to create an excellent opportunity for the market players in the years to come, as these projects are paving the way for line pipe industry to grow more.
- United States is expected to be the largest market during the forecast period, owing to the increased oil & gas exploration and production activities, that drives the demand for line pipe market in the coming years.
