Market research report on North American market published
USA – According to a recently published market research report entitled “North America Seamless Heat Exchanger Tubing Market By Type, By End User, By Geography (U.S., Canada, Mexico) – Analysis & Forecast to 2020”, the North America seamless heat exchanger tubing market was valued at $752.5 million in 2014 and is projected to reach $1.07 billion by 2020, representing a CAGR (compound annual growth rate) of 6.0% over the forecast period of 2015 to 2020.
The research reveals that the North American seamless heat exchanger tubing market is a highly competitive market, which is expected to witness growth over the forecast period, owing to increased demand for seamless heat exchanger tubes in various end user industries, such as chemicals, petrochemicals, and oil & gas, among others. In terms of end users, the chemicals segment led the North American seamless heat exchanger tubes market in 2014, accounting for a market share of 28.7%.
The report also predicts that the power generation segment of North American seamless heat exchanger tubing market will witness growth during the forecast period as thermal power is still a major source of energy in the North American region. Unsurprisingly the leading player in the North American seamless heat exchanger tubing market in 2014 was the U.S., while the seamless heat exchanger tubing market in Mexico is expected to witness growth during the forecast period as a result of several major industries deciding to outsource their manufacturing operations.
However the future of the market is not uniquely positive as other factors, such as the increase in usage of cost-effective welded tubes in various end user industries, are expected to restrain the growth of the North American seamless heat exchanger tubes market over the forecast period.