According to the recent study the steel pipe market is projected to reach an estimated $106 billion by 2028 from $83 billion in 2022, at a CAGR of 3.7% from 2023 to 2028. Growth in this market is primarily driven by increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development.
Browse 129 figures/charts
and 102 tables in this 209-page report to understand trends, opportunities and
forecast in steel pipe market by end use (oil and gas, automotive, potable
water, wastewater, power generation, and others), product (seamless pipe and welded
pipe), material (carbon steel, stainless steel, and others), diameter (small
diameter pipes (up to 15 inches) and large diameter pipes (15 inches and
above), pressure rating (0-300 psi, >300-1000 psi, >1000- 3000 psi, and
3000 and above psi), and region (North America, Europe, Asia Pacific, and the
Rest of the World).
“Carbon steel pipes market is expected to remain the largest
segment during the forecast period.”
Based on material type,
the steel pipe market is segmented into carbon steel, stainless steel, and
others. Lucintel forecasts that the carbon steel pipes market is expected to
remain the largest segment due to increasing demand driven by growth in the oil
and gas, power generation and automotive industries.
“Within the steel pipe market, the oil and gas segment is expected
to remain the largest end use.”
Based on end use the oil
and gas segment is expected to witness the highest growth over the forecast
period due to rising oil and gas exploration, which also leads to more pipes
needed for production, transportation, and distribution infrastructure of oil
and gas.
“North America will dominate the steel pipe market in near future.”
North America will
remain the largest region due to an increase in oil and gas exploration
activities. APAC is expected to witness the highest growth over the forecast
period due to increasing infrastructure development, urbanization and
government economic stimulus measures in this region.
Major players of steel
pipe market are adopting various growth strategies like new product launches,
expansions, merger and acquisitions, partnerships, agreements, and
collaborations to expand their presence in this market. Tenaris, Vallourec,
TMK, ArcelorMittal, Nippon Steel, Sumitomo Metals, United States Steel
Corporation, Chelpipe, and Tata Steel are among the major steel pipe providers.
This unique research
report will enable you to make confident business decisions in this globally
competitive marketplace. For a detailed table of contents, contact Lucintel at
+1-972-636-5056 or write us at helpdesk@lucintel.com.
About Lucintel
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Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056
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