Industry Analysis & Industry Trends
The Steel Tube, Pipe and Related Fitting Manufacturing industry has suffered from heavy volatility over the past five years. Industry revenue tumbled in 2012-13 as demand from the construction sector evaporated. Demand for steel piping used in oil and gas production has also fallen consistently in recent years. British oil and gas stocks are on the decline, leaving only difficult-to-access reserves untapped. Even if exploration is successful, falling oil prices have offered little incentive for production. These factors are anticipated to have significantly reduced demand for industry products over the past five years. However, falling steel prices, owing to the slowdown in the global economy, have benefited industry operators to some extent... purchase to read more
Industry Report - Starting a New Business Chapter
Barriers to enter the Steel Tube, Pipe and Related Fitting Manufacturing industry vary significantly depending on sector. Big scale producers impose substantial barriers at the higher-earning end of the spectrum but small operators that specialise on a certain sector – especially in construction – face much lower barriers. This is reflected by the relatively high number of small firms operating in the industry; according to figures released by the Office for National Statistics, companies that employ less than 10 people account for approximately 69% of the firms operating in the industry. However, small operators do not benefit from economies of scale and generally have slim profit margins, decreasing the appeal of entering the industry.
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