LONDON--(BUSINESS WIRE)--The new seamless copper tubes market in MENA research from Technavio indicates neutral growth in the short term as the business impact of COVID-19 spreads.
Get detailed insights on the COVID-19 pandemic crisis and recovery analysis of the seamless copper tubes market in MENA.
"One of the primary growth drivers for this market is the growing consumption in key economies,” says a senior analyst for the industrials industry at Technavio. The vendors should also capitalize on growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments. As the markets recover, Technavio expects the seamless copper tubes market in MENA size to grow by 69.18 thousand tons during the period 2020-2024.
Seamless Copper Tubes Market in MENA Segment Highlights for 2020
- The seamless copper tubes market in MENA is expected to post a year-over-year growth rate of 8.43%.
- Based on the application, the HVAC segment saw maximum growth in 2019. Factors such as the growing consumption in key economies are driving market growth.
- The growth of the segment will be significant during the forecast period.
- 79% of the growth will originate from the Middle East region.
- The rising adoption of cupronickel tubes will significantly influence the seamless copper tubes market in MENA.
- Iran (Islamic Republic of Iran), Saudi Arabia, the UAE, and Egypt (Arab Republic of Egypt) are the key markets for seamless copper tubes in MENA.
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- The seamless copper tubes market in MENA size is expected to accelerate at a CAGR of almost 9% during the forecast period.
- The seamless copper tubes market in MENA is segmented by application (HVAC, Plumbing, Industrial heat exchanger, Electrical, and others) and geography (Middle East and North Africa).
- The market is fragmented due to the presence of many established vendors holding significant market share.
- The research report offers information on several market vendors, including Furukawa Electric Co. Ltd., Golden Dragon Precise Copper Tube Group Inc., KME Germany GmbH & Co. KG, Kobe Steel Ltd., Luvata MMC Copper Products Oy, MetTube Sdn Bhd, Mueller Industries Inc., Multimetals Ltd., Shahid Bahonar Copper Industries Co., and Wieland-Werke AG
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