About Hollow Section Products
A hollow profile is to be characterized by its external dimensions and its thickness in millimeters and, depending on whether it is cold or hot-formed, further classified into CF or HF. The hollow profiles must be made of steel that has been manufactured using an approved process and must not contain more than 0.050 percent sulfur and no more than 0.050 percent phosphorus. These hollow profiles are available in a variety of shapes, sizes, and thicknesses and range from square, rectangular and circular cross-sections to elliptical and oval shapes. These products are tested for various parameters including tensile strength, flexion, flattening, and drift expansion. The hollow section pipes are manufactured using the latest technology and high-quality raw materials with their numerous applications such as the pharmaceutical and food industry, construction industry, ship, and offshore industry, etc. Whether it's lifting or moving equipment, or designing buildings, find a suitable product that best suits your needs. With the hollow profiles, you can significantly reduce the weight of your steel structures and at the same time save material and manufacturing costs without restricting the freedom of design.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that European Vendors will contribute the maximum growth to Global Hollow Section Products market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Tata Steel Ltd. (India), SSAB (Sweden), Barrett Steel (United Kingdom), Liberty House Group (United Kingdom), Viohalco Group (Belgium), Hyundai Steel (South Korea), Anyang Steel Group (China), Celsa Group (Spain), Sita Steel Rollings Ltd. (Tanzania) and MM Integrated Steel Mills (Tanzania) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Tianjin XinYue Steel Group (China), Kamaka Company Limited (Tanzania) and Max Steel (India).
Segmentation Overview
AMA Research has segmented the market of Global Hollow Section Products market by Type (Hot-Finished Hollow Sections, Seamless Hollow Sections and Welded Hollow Sections), Application (Agricultural, Construction, General Engineering, Mechanical Application and Others) and Region.
On the basis of geography, the market of Hollow Section Products has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Shape, the sub-segment i.e. Square will boost the Hollow Section Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Hollow Section Products market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing use of Hollow Section Products Because of its Sustainability
Market Growth Drivers:
Increasing Need for the Strong and Stiff Frame for the Buildings with Energy Efficiency and Rising Demand for the Faster and Cost-Effective Construction
Challenges:
Installation and Maintenance Problem
Restraints:
High Risk of Corrosion of Steel Products Due to Environment Factors and Safety Risks Associated with the Construction
Opportunities:
Rising Government Investment in Various Infrastructures
Market Leaders and their expansionary development strategies
In March 2023, Barrett Steel, the largest steel stockholder in the UK, are acquired of the Aartee Bright Bar distribution sites and Bright Bar facility and The acquisition encompasses Aartee Bright Bar Limited’s distribution business, located in Rugby, Bolton, Newport and Southampton, and its Bright Bar facility operating out of Willenhall, as well as Aartee Bright Bar Property Limited’s freehold and leasehold interests at these sites.
In November 2020, Tata Steel has launched a new coated product brand named ‘Galvanova,’ a 55% Aluminium-Zinc alloy coated product, to address the evolving and unmet requirements of the Medium and Small Scale Enterprises (MSMEs) - Emerging Corporate Accounts (ECAs).
"The Occupational Safety and Health Act (the Act), was enacted and authorized the Secretary of Labor to adopt established Federal standards issued under other statutes, including the CSA, as occupational safety and health standards. Accordingly, the Secretary of Labor adopted the construction standards which had been issued under the CSA, in accordance with Section 6(a) of the Act. The Safety and Health Regulations for Construction were redesignated as part. Subpart R, Steel Erection," was adopted as an OSHA standard during this process. The requirements in the existing standard cover flooring, steel assembly, bolting, plumbing-up, and related operations. In 1974 a revision in the temporary flooring requirement was made pursuant to a rulemaking conducted under section 6(b) of the Act."
Key Target Audience
Hollow Section Products Manufacturers, Hollow Section Products International Traders, Hollow Section Products Distributors and Suppliers, Research and Development Institutes, Potential Investors, Regulatory Bodies, Upstream and Downstream Buyers and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.