Global Steel Pipes & Tubes Market is valued at approximately USD 185.47 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 3.7% over the forecast period 2023-2030. Steel pipes and tubes are cylindrical structures made of steel that are used for a variety of applications across different industries. They play a crucial role in the transportation of fluids, gases, and solids, as well as in structural and construction purposes. Steel pipes and tubes are known for their strength, durability, and resistance to various environmental factors, making them suitable for a wide range of applications. The Steel Pipes & Tubes Market is expanding because of factors such as increasing investment in infrastructure development, the growing oil and gas industry and rising development of water and wastewater treatment plants.
The escalating expenditures in the construction industry are playing a pivotal role in propelling the growth of the Steel Pipes And Tubes Market. As economies expand and urbanization accelerates, there is a burgeoning demand for infrastructure development, residential constructions, and commercial projects. Steel pipes and tubes, renowned for their robustness and versatility, have become indispensable in various construction applications. According to Statista, the worldwide Construction industry spending in the year 2019, stood at USD 12 trillion which increased to USD 12.9 trillion in the year 2021 and it is projected to reach USD 19.2 trillion by the year 2035. Thus, rising spending on construction spending leads to infrastructure development resulting in market growth. In addition, the rising development of renewable energy projects and investment in the construction of petrochemical plants are creating new opportunities for market growth. However, fluctuation in raw material prices of steel pipes & tubes stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Steel Pipes & Tubes Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 owing to the rising construction industry, rising development of wastewater treatment plants and the oil and gas industry in the region. Asia Pacific is expected to grow at the fastest growth. Moreover, the Middle East & Africa region is anticipated to witness the fastest growth over the forecast period, owing to rising investment by private players in setting up new petrochemical plants in the region.
Major market player included in this report are:
ArcelorMittal S.A
United States Steel Corporation
Nippon Steel Corporation
Tata Steel Ltd
Rama Steel Tubes Limited
Steel Authority of India Limited
Jindal Steel & Power Ltd.
Hyundai Steel
ThyssenKrupp AG
Tenaris S.A.
Recent Developments in the Market:
In July 2022, Tenaris entered into a substantial USD 460 million agreement to acquire Benteler, a steel pipe producer based in the United States. This strategic acquisition is anticipated to enhance Tenaris's manufacturing capabilities, enabling the company to better meet the needs of its customers and bolster its operational efficiency.
Global Steel Pipes & Tubes Market Report Scope:
Historical Data: 2020 - 2021
Base Year for Estimation: 2022
Forecast period: 2023-2030
Report Coverage: Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
Segments Covered - Technology, Application, Region
Regional Scope: North America; Europe; Asia Pacific; Latin America; Middle East & Africa
Customization Scope: Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and Technology offerings of key players. The detailed segments and sub-segment of the market are explained below.
By Technology:
Seamless
Electric Resistance Welded
Submerged Arc Welded
By Application:
Oil & Gas
Chemicals & Petrochemicals
Automotive & Transportation
Mechanical Engineering
Power Plant
Construction
Others
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
