Rise in O&G projects to drive ME welded pipes market

Country wise, Research and Markets predicted Saudi Arabia to have the largest market share of HSAW pipes followed by U.A.E. According to ERC, Saudi Arabia spiral welded pipe market (By volume) would witness the highest CAGR (Compound annual growth rate) of 7.3%.

 

Citing the fact that there is a larger room for the utilization of existing desalination capacity in future and less requirement for the expansion of desalination plants, the market (By volume) of HSAW pipes in U.A.E. is anticipated to grow at a modest CAGR of 5.5% during the covered forecast period.

The HSAW pipes production in Iran declined drastically in the past few years owing to international sanctions. However, after the removal of sanction in 2016-2017, Iran is anticipated to get a boom in the HSAW pipes market.

Further, Qatar would also emerge as one of the major attractive markets of HSAW pipes in Middle East attributing to some of the major upcoming infrastructural projects like Doha Metro and FIFA world cup 2022.

The major challenge that stands in front of the HSAW pipes market of the Middle East is the declining oil prices in the international market, which has withdrawn most of the major industry players from investing in the exploration and production activities in the oil & gas sector. This has further led to the postponement and cancellation of major ongoing and upcoming pipeline projects in the region.