New Seamless Copper Tubes Market to Accelerate at a CAGR of Almost 9% Due to the COVID-Spread | Technavio

LONDON--()--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.

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"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.

Regional Analysis

  • 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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Notes:

  • 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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Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Seamless Copper Tubes Market in MENA will grow by 69.18 th tons during 2020-2024

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/