Reliable Data You Can Trust
Reliable Data You Can Trust
A recent report published by Infinium Global Research on steel pipes market provides in-depth analysis of segments and sub-segments in the global as well as regional steel pipes market. The study also highlights the impact of drivers, restraints, and macro indicators on the global and regional steel pipes market over the short term as well as long term. The report is a comprehensive presentation of trends, forecast and dollar values of global steel pipes market.
The expansion of the oil and gas industry coincides with the rapid rise and urbanization of the world's population. Anticipated to sustain growth from 2023 to 2033, this upward trajectory is linked to the advantageous qualities of steel, specifically its reliability and durability. The versatile nature of steel pipes, catering to a diverse range of applications, has spurred a heightened demand in the market. Notably, steel pipes excel in transporting flammable gases due to their non-reactive properties. Furthermore, an increasing necessity to replace aging pipes with their steel counterparts is contributing to the global surge in demand for steel pipes. Beyond the energy sector, steel pipes find utility in agriculture, irrigation, sewerage, and fire sprinkler systems. Additionally, steel pipes play a pivotal role in industrial water lines and plant piping. The adaptability and widespread applicability of steel pipes across various domains underscore their significance in contemporary infrastructure.
The rising demand for durable and corrosion-resistant materials in diverse industrial applications propels the growth of the steel pipe market. The increasing growth of industries in various regions significantly influences the worldwide steel pipes market. Serving as vital elements in manufacturing operations, steel pipes act as channels for liquids, gases, and materials in sectors such as chemicals, petrochemicals, automotive, and beyond. The growing prominence of steel tubing in the building and construction sector plays a pivotal role in propelling the steel pipe market. Furthermore, the minimal or zero maintenance costs associated with steel tubes are significant contributors to the expansion of the steel tubing industry. Additionally, rising concerns about water scarcity further boost the market for steel pipes. Steel pipes find extensive application in water supply and wastewater treatment systems, with a growing global demand fueled by the imperative to upgrade and expand water infrastructure. While the emphasis on efficient water management is anticipated to drive their increased adoption. However, the high cost of installation and maintenance can limit the growth of the market. Moreover, the rising demand for green steel pipes made from recycled materials creates a lucrative opportunity for the market.
Asia Pacific is projected to hold the most prominent market share in the upcoming forecast period. The surge in fuel demand, propelled by expanding industries and rapid urbanization in countries like India, China, South Korea, and Japan, is fostering the widespread adoption of steel pipes in the region. In these nations, the manufacturing process is inherently more accessible and cost-effective, thanks to abundant raw materials and a readily available, cost-efficient labor force. This trend is further supported by the escalating need for water and fuel supply lines. Notably, India and China boast significant iron ore resources, a key raw material for steel production. Additionally, a rise in research and development initiatives aimed at creating robust pipelines and increased demand from the transportation supply sector contribute to the market's revenue growth throughout the forecast period. However, North America is expected to fastest emerging region in the upcoming forecast period due to a rise in rapid industrialization & urbanization and an increase in the population in this region.
| Report Coverage | Details |
|---|---|
| Market Size in 2022 | USD 184.44 Billion |
| Market Size by 2030 | USD 247.06 Billion |
| Growth Rate from 2023 to 2030 | CAGR of 3.80% |
| Largest Market | Asia Pacific |
| No. of Pages | 255 |
| Market Drivers |
|
| Market Segmentation | By Material Type, By Product Type, and By End User |
| Regional Scope | North America, Europe, Asia Pacific, and RoW |
The report on global steel pipes market covers segments such as material type, product type, and end user. On the basis of material type, the sub-markets include carbon steel, stainless steel, alloy steel, black steel, and others. On the basis of product type, the sub-markets include HSAW, LSAW, and ERW. On the basis of end user, the sub-markets include oil and gas, utility, power generation, construction, and others.
The report provides profiles of the companies in the market such as ArcelorMittal Europe Communications, U. S. Steel Tubular Products, NIPPON STEEL CORPORATION, Tata Steel, Jindal Tubes, American Cast Iron Pipe Company, HYUNDAI STEEL, EAST PIPES, APC, and DANA Group of Companies.
The report provides deep insights into demand forecasts, market trends, and micro and macro indicators. In addition, this report provides insights into the factors that are driving and restraining the growth in this market. Moreover, The IGR-Growth Matrix analysis given in the report brings an insight into the investment areas that existing or new market players can consider. The report provides insights into the market using analytical tools such as Porter's five forces analysis and DRO analysis of the steel pipes market. Moreover, the study highlights current market trends and provides forecasts from 2023-2030. We also have highlighted future trends in the market that will affect the demand during the forecast period. Moreover, the competitive analysis given in each regional market brings an insight into the market share of the leading players.
Please Choose One of them.
