- Thick Wall
- Thin Wall
Precision Tubes Market size was valued at USD 22461 million in 2022 and is projected to reach USD 29760 million by 2029, at a CAGR of 4.2% during 2023-2029. Precision Tubes Market is a heat treatment procedure that involves heating small-diameter thick-walled seamless metal tubes to 45 °C above Ac3 and then cooling them for a period of time in static air. To achieve mechanical efficiency requirements, structural elements requiring mechanical qualities must be quenched after normalization. To remove the internal tension generated during normalizing, medium and high alloy steels, as well as massive forgings, require high-temperature tempering following normalizing. Annealing treatment of small-diameter thick-walled tubes of seamless metal tubes is a heat treatment method in which metals and alloys are heated to an acceptable temperature for a set period of time and then cooled gently. The sub-eutectoid metal is ferrite plus flaky pearlite after annealing, while the eutectoid metal, also known as hypereutectoid steel, is granular pearlite. The technological path of Billet, perforation, three-roll cross rolling, rolling or extrusion, tube-to-tube diameter, cooling, straightening, stress check, and marking Pipe for petrochemical commerce is mostly used for drilling. Boiler tube, Cracking tube Bearings, as well as high-precision tube structures for automobiles, tractors, and aircraft. The formulation is completely nonlinear and can handle massive stresses and displacements. Moreover, rise in the R&D for the development of newer products such as lightweight, heat transfer, and recyclable products, technological advancements in the precision tube manufacturing process, and development of cost effective products are bolster the market over the forecast timeframe.
Precision Tubes Market Key Developments:
- In May 2022, Marcegaglia acquired Liberty Precision Tubes to enhance the production capacity
- In January 2020, Sandvik completed the acquisition of Summerill Tube Corporation, a manufacturer of high precision tubes
Global Precision Tubes Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
4.2%
Largest Market
North America
Fastest Growing Market
Europe
Precision Tubes Market Dynamics
Increase in the demand for precision tubes from end is user industries such as automotive, energy, and medical industries is a major factor surge the growth of market over the forecast years. Precision tubes are widely used in manufacturing of shock absorber, tie rods, gas spring applications, propeller shafts, side impact beam, stem steering system and others. Moreover, in aeronautics industry, precision tubes are widely used in manufacturing of heat sensors, pitot tubes, temperature sensors, displacement sensors, and others. In addition, these products also used in measurement and control devices, medical instruments, exhaust sensors, and electronic tubes for various end user industries.
North-America Got Significant Share
Precision Tubes Market Regional Analysis
The precision tubes market in North America is likely to hold the highest revenue share of in 2022 and same trend is expected over the forecast period due to increased demand from end-user industries Furthermore, the presence of major market players in the area drives the market forward. Because of the development of innovative products, the European market is expected to increase rapidly. Furthermore, the growing emphasis on the development of innovative medical tools fuels the market.
Latin America
Europe
Asia Pacific
Middle East
North America
Key Features of the Reports
- The precision tubes market report provides granular level information about the market size, regional market share, historic market (2018 to 2022) and forecast (2023 to 2029)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
Global Precision Tubes Market Segmentation
By Product Type
By End User
- Automotive
- Energy
- Mechanical Engineering
- Medical
- Others
By Geography
- North America
- Europe
- Asia-Pacific
- Latin America
- Middle East and Africa (MEA)
Frequently Asked Questions
The precision tubes market is projected to expand at a CAGR of 4.2% during the forecast period.
The report covers the five regions and 15+ countries market data: North America (United States, Canada), Europe (Germany, France, Italy, Spain, and United Kingdom (UK), Asia Pacific (China, India, Japan, Australia & New Zealand), Latin America (Brazil, Mexico, Argentina) and Middle East and Africa (Saudi Arabia, United Arab Emirates, South Africa).
In our report, we provide 12-15 market players’ information into the report. However, based on the client’s request we will provide additional country and regional market players information as well.
| 1.Executive Summary |
| 2.Global Precision Tubes Market Introduction |
| 2.1.Global Precision Tubes Market - Taxonomy |
| 2.2.Global Precision Tubes Market - Definitions |
| 2.2.1.Product Type |
| 2.2.2.End User |
| 2.2.3.Region |
| 3.Global Precision Tubes Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Precision Tubes Market Analysis, 2018-2022 and Forecast 2023-2029 |
| 4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Precision Tubes Market By Product Type, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 5.1. Thick Wall |
| 5.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Thin Wall |
| 5.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 6.Global Precision Tubes Market By End User, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 6.1. Automotive |
| 6.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Energy |
| 6.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Mechanical Engineering |
| 6.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 6.4. Medical |
| 6.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.4.3. Market Opportunity Analysis |
| 6.5. Others |
| 6.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 6.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.5.3. Market Opportunity Analysis |
| 7.Global Precision Tubes Market By Region, 2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 7.1. North America |
| 7.1.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Europe |
| 7.2.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Asia Pacific (APAC) |
| 7.3.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 7.4. Middle East and Africa (MEA) |
| 7.4.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.4.3. Market Opportunity Analysis |
| 7.5. Latin America |
| 7.5.1. Market Analysis, 2018-2022 and Forecast, 2023-2029, (Sales Value USD Million) |
| 7.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.5.3. Market Opportunity Analysis |
| 8.North America Precision Tubes Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 8.1. Product Type Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.1.1.Thick Wall |
| 8.1.2.Thin Wall |
| 8.2. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.2.1.Automotive |
| 8.2.2.Energy |
| 8.2.3.Mechanical Engineering |
| 8.2.4.Medical |
| 8.2.5.Others |
| 8.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 8.3.1.United States of America (USA) |
| 8.3.2.Canada |
| 9.Europe Precision Tubes Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 9.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.1.1.Thick Wall |
| 9.1.2.Thin Wall |
| 9.2. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.2.1.Automotive |
| 9.2.2.Energy |
| 9.2.3.Mechanical Engineering |
| 9.2.4.Medical |
| 9.2.5.Others |
| 9.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 9.3.1.Germany |
| 9.3.2.France |
| 9.3.3.Italy |
| 9.3.4.United Kingdom (UK) |
| 9.3.5.Spain |
| 9.3.6.Rest of EU |
| 9.3.7. |
| 10.Asia Pacific (APAC) Precision Tubes Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 10.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Thick Wall |
| 10.1.2.Thin Wall |
| 10.2. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Automotive |
| 10.2.2.Energy |
| 10.2.3.Mechanical Engineering |
| 10.2.4.Medical |
| 10.2.5.Others |
| 10.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.China |
| 10.3.2.India |
| 10.3.3.Australia and New Zealand (ANZ) |
| 10.3.4.Japan |
| 10.3.5.Rest of APAC |
| 11.Middle East and Africa (MEA) Precision Tubes Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 11.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Thick Wall |
| 11.1.2.Thin Wall |
| 11.2. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Automotive |
| 11.2.2.Energy |
| 11.2.3.Mechanical Engineering |
| 11.2.4.Medical |
| 11.2.5.Others |
| 11.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.GCC Countries |
| 11.3.2.South Africa |
| 11.3.3.Rest of MEA |
| 12.Latin America Precision Tubes Market ,2018-2022 and Forecast 2023-2029 (Sales Value USD Million) |
| 12.1. Product Type Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Thick Wall |
| 12.1.2.Thin Wall |
| 12.2. End User Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Automotive |
| 12.2.2.Energy |
| 12.2.3.Mechanical Engineering |
| 12.2.4.Medical |
| 12.2.5.Others |
| 12.3. Country Analysis 2018-2022 and Forecast 2023-2029 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Brazil |
| 12.3.2.Mexico |
| 12.3.3.Rest of LA |
| 13. Competition Landscape |
| 13.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 13.2.1.Idexx Health and Science, LLC |
| 13.2.2.Shenzhen Foreach Technology Co., Ltd. |
| 13.2.3.Trajan Scientific and Medical |
| 13.2.4.Hamilton Company |
| 13.2.5.Tata Steel |
| 13.2.6.SSAB |
| 13.2.7.Vallourec |
| 13.2.8.Pennar |
| 13.2.9.Superior Tube |
| 13.2.10.Hi-Tech Pipes |
| 13.2.11.Tube Investments of India |
| 14. Research Methodology |
| 15. Appendix and Abbreviations |
- Idexx Health and Science, LLC
- Shenzhen Foreach Technology Co., Ltd.
- Trajan Scientific and Medical
- Hamilton Company
- Tata Steel
- SSAB
- Vallourec
- Pennar
- Superior Tube
- Hi-Tech Pipes
- Tube Investments of India