Europe Cold Drawn Precision Tubes Market Size, Analysis 2030
Europe Cold Drawn Precision Tubes Market
Segments - by Product Types (Seamless and Welded), By Europe (Eastern Europe [Russia, Ukraine, Poland, and Rest of Eastern Europe], Western Europe [Germany, France, Spain, Italy, and Rest of Western Europe]) - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
Segments - by Product Types (Seamless and Welded), By Europe (Eastern Europe [Russia, Ukraine, Poland, and Rest of Eastern Europe], Western Europe [Germany, France, Spain, Italy, and Rest of Western Europe]) - Europe Industry Analysis, Growth, Share, Size, Trends, and Forecast 2020 – 2027
The Europe cold drawn precision tubes market size was valuedat USD 2,758.9 Million in 2019 and is projected to reach USD 2,872.1 Million by 2027, expanding at a CAGR of 2.4% during the forecast period, 2020-2027. Precision tubes are widely used in making shock absorbers, in gas spring applications, tie rods, side impact beam, propeller shafts, stem steering system, and others.
These tubes are manufactured from high grade metal and are tested according to several international as well as Indian standards. They have precise dimensions that are developed on modern designs, are environmental-friendly, and possesses immense tensile strength.
Cold drawn precision tubes are suitable for gas cylinders, hydraulic cylinders, shock absorbers of automobile, motorcycle, and bicycle use. They are used in air-conditioning condenser, front fork and rear fork of motorcycle, mechanical arm, and exhaust pipes. Cold-drawn tubing requires precision tolerance and a superior finish.
Europe Cold Drawn Precision Tubes Market Dynamics
Demand for fossil fuel is high, which raised exploration and production activities in the oil & gas industry. Cold-drawn precision tubes are used to extract fossil fuels. The era of easy oil ended and oil reserves are found at deeper depths than their historical counterparts.
Deep depths contain hostile environment of high temperature and pressure for precision tubes employed during drilling activity. Rising demand for fossil fuels used in the manufacturing processes of cold-drawn precision tubes is anticipated to drive the market.
Cold-drawn precision tubes gained immense popularity in the automotive industry in the past few years. These tubes are characterized by a smooth, bright, reflective finish produced by cold rolling followed by annealing in a protective atmosphere to prevent oxidation and scaling during annealing.
Various applications for cold-drawn precision tubes for automotive industry are determined by special technical features such as high dimensional accuracy for inside and outside diameters, smooth surfaces achieved by cold-drawing, and improved strength characteristics due to cold forming.
Cold drawn welded tubes are primarily used in automotive industries in prop shafts, rubber/metal parts, and others. Hence, the aforementioned factors are expected to drive the market during the forecast period.
The cost of raw materials remains a top concern among manufacturers of cold-drawn precision tubes. Fluctuations in prices of raw materials such as carbon steel and alloy remain a challenge to the manufacturers of cold-drawn precision tubes. Increasing price fluctuations of imported raw materials and instability in exchange rates negatively affected the market growth.
Moreover, fluctuation in prices of carbon steel caused a significant decline in the profitability of several manufacturers of cold-drawn precision tubes. Fluctuating raw material prices affect cash flows and earnings of companies.
This, in turn, is anticipated to hamper the Europe cold-drawn precision tubes market during the forecast period. Cold-drawn precision seamless tubes are produced by cold drawing technology, utilizing multiple drawing sequences with intermediate heat treatment.
Thin wall small diameter precision tubes have undergone through a rapid transformation. Various precision tube companies are adopting new fiber laser technology, which offers fine cutting and tolerance control on complicated geometries of cold-drawn precision tubes.
Stainless steel is considered to be the primary choice for the manufacturers of cold-drawn precision tubes; however, currently titanium has evolved in response to the need for lightweight, strong, and corrosion-resistant tubes for aerospace, automotive, and medical applications. This is expected to create opportunities for the Europe cold-drawn precision tubes market.
Europe Cold Drawn Precision Tubes Market Segment Insights
Product Types Segment Analysis
On the basis of product types, the Europe cold-drawn precision tubes market is segmented into seamless and welded. The seamless segment is projected to hold a substantial share of the market during the forecast period, due to increasing demand for seamless tubes in end-use applications, as they are stronger than welded tubes.
Cold-drawn seamless tubes are used in heavy equipment manufacturing such as cranes and garbage trucks. Rising preference of endusers to use seamless tubes, due to corrosion-resistant properties during the forecast period is expected to drive the segment.
The welded segment is anticipated to grow significantly during the forecast period, owing to its benefits such as low cost and fast lead times as compared to seamless tubes, which is expected to drive the segment.
Regional Outlook
On the basis of countries, the Europe cold-drawn precision tubes market is segmented into Eastern Europe and Western Europe. Eastern Europe is further segmented into Russia, Ukraine, Poland, and Rest of Eastern Europe. Western Europe is further segmented into Germany, France, Spain, Italy, and Rest of Western Europe.
Trade flows of cold-drawn precision tubes are low in Eastern Europe and production and quality standards are significantly lower than Western Europe. Duty-free ceilings exist for the trade of cold-drawn precision tubes with Romania, Russia, and Ukraine.
Various competitors of Western Europe countries such as SchoellerBleckmann (SBER) from Austria and Tubacex from Spain are expected to achieve value-based market shares of 11%, and 13% respectively, during the forecast period.
Consumption of welded tubes of a wall thickness <=2 mm in the European Union as increased to approximately 1.25 million metric tons in 2017. This in turn is expected to fuel the demand for cold-drawn precision tubes during the forecast period.
Key Benefits for Industry Participants & Stakeholders
Key players in the market include AMETEK.Inc., ArcelorMittal, Benteler, Ceruti Spa, LIBERTY Steel Group, Mannesmann Precision Tubes GmbH, Mubea, NIPPON STEEL CORPORATION, Tata Steel, voestalpine Rotec GmbH.
These players are considered as key manufacturers of the market based on their different varieties of product availability, regional presence, better supply chain management system, and the increasing demand for the products.
The players are adopting key strategies such as product development, geographical expansion, mergers and acquisition and many other strategies to increase their demand for cold drawn precision tubes.
Video Summary for Cold Drawn Precision Tubes Market
Ask for Research To Be Focused On Specific Regions or Segments
Receive Data As Per Your Format and Definition
Companies Profiled based on Your Requirements
Breaking Down Competitive Landscape as per Your Requirements
Any Level of Customization
Our Clients
Client Testinomials
We needed a highly accurate and precise report, which Growth Market Reports delivered promptly. The company compiled information from a wide array of reliable agencies and sourcess.It is extremely satisfactory to be working with you. Strategy Head of Major Tech Company
We were very pleased to contact Growth Market Reports as they tailored reports precisely as per our requirements. As we are dealing with the aerospace and defense industry, we need reports of high accuracy and substantial quality. Major Player in Defense Industry
Extremely delighted to have a well-crafted report on “Global Packaging Solutions Market Research Report” from your team. Thank you for providing me with all our requirements and for incorporating our suggestions. CMO of Leading Packaging Company from USA
I had a good experience working with Growth Market Reports as they were very open to all constructive changes in the report. I found that the report had its charm embedded with ample of data. Founder and Managing Partner of Major Korean Company
Our company has been working with Growth Market Reports for some years now and we are very happy with the quality of the reports provided by the company.I, on behalf of my organization, would like to thank you for offering professional reports. Global Consulting Firm
The base year considered for the Europe cold drawn precision tubes market report is 2019. The complete analysis period is 2017 to 2027, wherein, 2017 & 2018 are the historic years and the forecast is provided from 2020 to 2027.
The market is expected to witness decline in terms of demand during 2019-2020 owing to the negative impact of COVID-19 pandemic on the cold drawn precision tubes market.
The large enterprises segment is anticipated to account for a key share of the market, owing to the increasing use of precision pipes in various sectors such as automotive and energy generation.
The cold drawn precision tubes market is anticipated to grow significantly during forecast period due to Attractive features of cold-drawn precision tubes. Moreover, due to high usage of seamless tubes in oil & gas industry.
In addition to market size (in USD Million) and Company Market Share (in % for base year 2019), other data such Macro-economic factors, COVID-19 Impact on the cold drawn precision tubes market is available in final report.
According to this Growth Market Reports report, the market from Cold Drawn Precision Tubes Market is likely to register a CAGR of 2.4% during the forecast period 2020-2027, with an anticipated valuation of USD 2,872.1 million by the end of the 2027.
Request For Customization
Enquiry Before Buying
Speak With Analyst
