Stability in Global Infrastructure Spending & The Resulting Encouraging Investment Outlook for Water, Oil & Gas Pipeline Projects to Drive the Large Diameter Steel Pipes Market
The global market for Large Diameter Steel Pipes is projected to reach 27.0 million tons by 2022 , driven by rising energy demand, in particular for natural gas and rehabilitation of existing pipeline infrastructure. Large Diameter Pipes (LDPs) comprise a major mode of transport for natural gas, oil and other fluids from isolated areas of production and refining to consumption centers across national and international boundaries. Demand for large diameter pipes is predominantly dictated by trend in the world economy and spending patterns in the oil & gas sector. As the world economy expands, demand for energy is expected to increase significantly to address the urban & rural household energy needs and also the industrial entities, while driving the demand for energy infrastructure. New transmission pipeline projects, mainly in the natural gas vertical, are steering momentum in the world LDPs market. With large-scale ongoing natural gas exploration, processing and distri...