New Seamless Copper Tubes Market to Accelerate at a CAGR of Almost 9% Due to the COVID-Spread | Technavio
LONDON--(BUSINESS WIRE)--Dec 23, 2020--
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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Technavio has announced its latest market research report titled Seamless Copper Tubes Market in MENA 2020-2024 (Graphic: Business Wire)
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.
Click here to learn about report detailed analysis and insights on how you can leverage them to grow your business.
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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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