Los Angeles, December 19, 2019 –QY Research recently published a report titled, “Global Automotive Pipe Market Report, History and Forecast 2014-2025, Breakdown Data by Manufacturers, Key Regions, Types and Application.” According to the report, the global automotive pipe market was valued at US$5.4 bn in 2018 and is projected to reach US$5.5 bn by 2025, rising at a CAGR of 1.47% during the forecast period.
Get PDF sample copy of this report: https://www.qyresearch.com/sample-form/form/931223/global-automotive-pipe-market
Increasing Pressure to Reduce Weight of Automobiles to Augment Market
The automobile industry focusing on reducing the weight of the vehicle parts to increase overall efficiency. This has bought attention to the tube components in the exhaust system as it is beneficial by reducing production times and wastage. Hence, companies are focusing on the development of light-weight tubes made from high-strength steel or other materials. Also, new tailored hybrid tubes made from aluminium and steel allows flexibility to the manufacturer to give it relevant shape during internal high-pressure forming process. These pipes can withstand pressure up to 900 bars, which is more than adequate for the forming of both aluminium and steel. This is expected to boost the growth of the global automotive pipe market.
Welded Tubes Segment to Soar as it Reduces Waiting Period and Cost
Welded tubes segment is expected to register a significant demand as they are readily available, reducing its waiting period and overall cost. As compared to the seamless product type their wall are thicker and can withstand extreme temperatures and pressures, making them ideal for critical automotive components such as exhaust systems.
Asia Pacific Seeks Encouragement via Booming Automotive Industry
The thriving automotive industry in Asia Pacific is expected to have a huge impact on the market due to the rising demand of both welded and seamless tubes for the production of hybrid and electric cars.
Manufacturers to Focus on Improving Material Standard of Pipes
Recently, JFE Steel Corporation’s Tsubasa (Wing) Pile set out designs and constructions parameters to include new material standards and welding methods for steel pipe based on local-market requirements in Vietnam. The Tsubasa Pile bearing capacity formula is inspired from formula developed and approved in Japan. Under this the company has obtained certification of TCCS technical standard. This will help company promote Tsubasa Pile to fuel the penetration of the regional market and help in development of infrastructure the country.
The report covers major manufacturers including Arcelormittal, Nucor Corporation, Jiangsu Changbao Steel Tube, Nippon Steel, JFE Steel Corporation, TMK Group, China Baowu Steel Group, Tata Steel, Zekelman Industries, VALLOUREC, Tenaris, Hyundai Steel, Marcegaglia, SeAH Holdings Corp, Hengyang Valin Steel Tube, Jindal Saw, Severstal, and others.
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