The global steel pipes market revenue was around US$ 94 billion in 2022 and is estimated to reach US$ 112.6 billion by 2031, growing at a compound annual growth rate (CAGR) of 3% during the forecast period from 2023 to 2031.
Steel pipes are employed in a variety of industrial and construction settings as cylindrical steel tubes. They are frequently utilized for product creation and equipment installation. Gas, Oil, and water are just a few examples of the liquids and gases that are typically transported underground using pipes. Carbon steel pipes are frequently used in industrial settings that need the conveyance of gases like steam or extremely high temperatures.
Market Driving Factors
Manufacturers are creating steel tubes and pipes with advanced technology to help reduce carbon emissions and improve energy efficiency. As a result, the rise in demand for environmentally friendly products is anticipated to boost market growth.
Due to considerable expenditures being made by different governments in infrastructure projects like bridges, roads, and airports, there is an increase in demand for steel pipes and tubes. As a result, the rising demand for reliable and durable infrastructure, particularly in emerging economies is driving the market expansion.
Steel pipes and tubes are extensively used in the manufacture of automobile components such as fuel injection systems, structural components, and exhaust systems. Therefore, the need for steel tubes and pipes in the automotive industry is driving the market's expansion.
Seamless steel pipes and tubes are a significant driver because of their exceptional attributes, which include corrosion resistance, high strength, and lifespan. These pipes are widely used in a variety of systems, such as those for oil and gas exploration, hydraulic systems, and power generation. Thus, these factors fuel the market growth.
Varying raw material costs, increased competition from replacement materials, and stringent governmental regulations restricting the use of particular chemicals in the manufacturing process. These factors impede market growth.
Regional Analysis
Asia Pacific is estimated to dominate the market. This is due to the rapid growth of the region attributed to the development of the building industry in countries like India and China. Furthermore, steel pipes and tubes are more and more essential as these economies develop for building houses and other infrastructure. In addition, a large number of big steel companies are also located in the region, which is likely to enhance demand for the market.
Segmentation Insights
Product Type Insights
Seamless segment dominated the market in terms of revenue. This can be attributed to their strength, capacity, and corrosion resistance to handle high pressure, seamless pipes and tubes are used in the chemical, oil & gas, and petrochemical sectors. Seamless pipes and tubes also have a smooth exterior that makes them suitable for applications needing a high degree of precision. Due to these advantages, there is a growing number of pipes and tubes, which is accelerating the market expansion in this segment.
The welded segment dominated the market in terms of the largest revenue during the forecast period. This is due to the welded tubes and pipes are produced by joining steel sheets or plates together through welding, They, are both inexpensive and straightforward to construct. Furthermore, several industries, including the automotive, furniture, and construction sectors, can also benefit from this segment. Therefore, the increased demand for steel pipes and tubes in emerging countries is anticipated to drive market growth in this segment.
Material Insights
The carbon steel segment dominated the market. This is attributed to the infrastructure, building, and automotive industries like carbon steel pipes and tubes because of their durability, strength, and low cost. Furthermore, this segment is also suitable for the oil and gas industry since it can withstand high pressure and temperatures. Hence, the rising demand for this segment propels market growth.
The stainless steel segment is anticipated to dominate the market growth in terms of the highest revenue during the projection period. This is due to their extraordinary resistance to corrosion which is common in the pharmaceutical, chemical, and food processing industries. Furthermore, this segment is suitable for use in architectural and ornamental applications due to its attractive appearance. Thus, the increased need for high-quality materials across multiple industries is anticipated to propel market growth.
Prominent Companies
Segmentation Outline
The global steel pipes market segmentation focuses on Product Type, Material, End-use Industry, and Region.
By Product Type
By Material
By End-use Industry
By Region
[TABLE OF CONTENTS]
1 INTRODUCTION OF GLOBAL STEEL PIPES MARKET
1.1 OVERVIEW OF THE MARKET
1.2 SCOPE OF REPORT
1.3 ASSUMPTIONS
2 EXECUTIVE SUMMARY: STEEL PIPES MARKET
3 RESEARCH METHODOLOGY
3.1 DATA MINING
3.2 VALIDATION
3.3 PRIMARY INTERVIEWS
3.4 LIST OF DATA SOURCES
3.5 ANALYST TOOLS AND MODELS
4 GLOBAL STEEL PIPES MARKET OUTLOOK
4.1 OVERVIEW
4.2 MARKET DYNAMICS AND TRENDS
4.2.1 DRIVERS
4.2.2 RESTRAINTS
4.2.3 OPPORTUNITIES
4.3 PORTERS FIVE FORCE ANALYSIS
4.4 VALUE CHAIN ANALYSIS
4.5 MARKET GROWTH AND OUTLOOK
4.5.1 PRICE TREND ANALYSIS
4.5.2 OPPORTUNITY SHARE
5 GLOBAL STEEL PIPES MARKET, BY PRODUCT TYPE
5.1 OVERVIEW
5.2 SEAMLESS
5.3 WELDED
6 GLOBAL STEEL PIPES MARKET, BY MATERIAL
6.1 OVERVIEW
6.2 STAINLESS STEEL
6.3 CARBON STEEL
6.4 OTHERS
7 GLOBAL STEEL PIPES MARKET, BY END-USE INDUSTRY
7.1 OVERVIEW
7.2 OIL & GAS
7.3 CONSTRUCTION
7.4 AUTOMOTIVE
7.5 CHEMICALS
7.6 OTHERS
8 GLOBAL STEEL PIPES MARKET, BY GEOGRAPHY
8.1 OVERVIEW
8.2 NORTH AMERICA
8.2.1 NORTH AMERICA MARKET SNAPSHOT
8.2.2 U.S.
8.2.3 CANADA
8.2.4 MEXICO
8.3 EUROPE
8.3.1 EUROPE MARKET SNAPSHOT
8.3.2 WESTERN EUROPE
8.3.2.1 THE UK
8.3.2.2 GERMANY
8.3.2.3 FRANCE
8.3.2.4 ITALY
8.3.2.5 SPAIN
8.3.2.6 REST OF WESTERN EUROPE
8.3.3 EASTERN EUROPE
8.3.3. 1 POLAND
8.3.3.2 RUSSIA
8.3.3.3 REST OF EASTERN EUROPE
8.4 ASIA PACIFIC
8.4.1 ASIA PACIFIC MARKET SNAPSHOT
8.4.2 CHINA
8.4.3 JAPAN
8.4.4 INDIA
8.4.5 AUSTRALIA & NEW ZEALAND
8.4.6 ASEAN
8.4.7 REST OF ASIA PACIFIC
8.5 MIDDLE EAST & AFRICA
8.5.1 MIDDLE EAST & AFRICA MARKET SNAPSHOT
8.5.2 UAE
8.5.3 SAUDI ARABIA
8.5.4 SOUTH AFRICA
8.5.5 REST OF MEA
8.6 SOUTH AMERICA
8.6.1 SOUTH AMERICA MARKET SNAPSHOT
8.6.2 BRAZIL
8.6.3 ARGENTINA
8.6.4 REST OF SOUTH AMERICA
9 GLOBAL STEEL PIPES MARKET COMPETITIVE LANDSCAPE
9.1 OVERVIEW
9.2 COMPANY MARKET RANKING
9.3 KEY DEVELOPMENT STRATEGIES
9.4 COMPETITIVE DASHBOARD
9.5 PRODUCT MAPPING
9.6 TOP PLAYER POSITIONING, 2022
9.7 COMPETITIVE HEATMAP
9.8 TOP WINNING STRATEGIES
10 COMPANY PROFILES
10.1 POSCO
10.1.1 OVERVIEW
10.1.2 FINANCIAL PERFORMANCE
10.1.3 PRODUCT OUTLOOK
10.1.4 KEY DEVELOPMENTS
10.1.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.2 ARCELOR MITTAL
10.2.1 OVERVIEW
10.2.2 FINANCIAL PERFORMANCE
10.2.3 PRODUCT OUTLOOK
10.2.4 KEY DEVELOPMENTS
10.2.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.3 NIPPON STEEL CORPORATION
10.3.1 OVERVIEW
10.3.2 FINANCIAL PERFORMANCE
10.3.3 PRODUCT OUTLOOK
10.3.4 KEY DEVELOPMENTS
10.3.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.4 JFE STEEL CORPORATION
10.4.1 OVERVIEW
10.4.2 FINANCIAL PERFORMANCE
10.4.3 PRODUCT OUTLOOK
10.4.4 KEY DEVELOPMENTS
10.4.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.5 TATA STEEL
10.5.1 OVERVIEW
10.5.2 FINANCIAL PERFORMANCE
10.5.3 PRODUCT OUTLOOK
10.5.4 KEY DEVELOPMENTS
10.5.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.6 CHINA BAOWU STEEL GROUP CORPORATION LIMITED
10.6.1 OVERVIEW
10.6.2 FINANCIAL PERFORMANCE
10.6.3 PRODUCT OUTLOOK
10.6.4 KEY DEVELOPMENTS
10.6.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.7 VALLOUREC S.A
10.7.1 OVERVIEW
10.7.2 FINANCIAL PERFORMANCE
10.7.3 PRODUCT OUTLOOK
10.7.4 KEY DEVELOPMENTS
10.7.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.8 TENARIS S.A
10.8.1 OVERVIEW
10.8.2 FINANCIAL PERFORMANCE
10.8.3 PRODUCT OUTLOOK
10.8.4 KEY DEVELOPMENTS
10.8.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.9 NUCOR CORPORATION
10.9.1 OVERVIEW
10.9.2 FINANCIAL PERFORMANCE
10.9.3 PRODUCT OUTLOOK
10.9.4 KEY DEVELOPMENTS
10.9.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
10.10 SEVERSTAL
10.10.1 OVERVIEW
10.10.2 FINANCIAL PERFORMANCE
10.10.3 PRODUCT OUTLOOK
10.10.4 KEY DEVELOPMENTS
10.10.5 KEY STRATEGIC MOVES AND DEVELOPMENTS
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