Cold Drawn Seamless Steel Pipes Market Size, Share, Growth Analysis, By Product(Carbon Steel, Alloy Steel, Stainless Steel, others), By Production Process(Cross Roll Piercing & Pilger Rolling, Continuous Mandrel Rolling, Multi St, Plug Mill), By End-Use(Oil & Gas, Automotive, Power Generation, others), By Application(Precision Instrumentation, Boiler Tubes, Heat Exchanger Tubes, Hydraulic Applications), By Region - Industry Forecast 2024-2031

Cold Drawn Seamless Steel Pipes Market size was valued at USD 72451.7 million in 2019 and is poised to grow from USD 75859.22 million in 2023 to USD 110824.81 million by 2031, growing at a CAGR of 4.83% in the forecast period (2024-2031).

Continuously growing demand from oil & gas sector for seamless pipes along coupled with the rising number of new oilfield discoveries and rise in offshore spending are key factors anticipated to drive the growth of the Global cold drawn seamless steel pipes market over the forecast period. In addition, aging pipe infrastructure requires the replacement and changing in existing pipelines because aged pipeline has more chances to leak and corrosion, therefore several large service providers and operators of the market are heavily investing in pipeline replacement and innovation, which is likely to propel growth of the Cold Drawn Seamless Steel Pipes Market at a significant growth rate over the coming years.

For instance, in February 2022, China announced their plan to renovate 20,000 kilometers of its aging gas pipelines after blasts in Chongqing, in Southwestern China, in the same month. These types of developments are projected to boost the growth of the global Cold Drawn Seamless Steel Pipes Market over the forecast period.

Moreover, wide range of features and benefits provided by steel pipes like corrosion resistance and metallurgical strength are ideal for various sectors including pharmaceuticals, gas, chemicals, and heat exchangers, which is likely to be other key fueling the adoption and growth of the global cold drawn seamless steel pipes market over the forecast period.

US Cold Drawn Seamless Steel Pipes Market is poised to grow at a sustainable CAGR for the next forecast year.