Steel Pipes And Tubes Market Size, Share, Growth Analysis, By Technology(Seamless, ERW, SAW), By Application(Oil & gas, Chemicals, petrochemicals, Automotive & transportation), By Material(Alloy Steel, Black Steel, Carbon Steel, Iron Steel), By Type(Line, Standard, Structural), By Region - Industry Forecast 2024-2031

Global Steel Pipes And Tubes Market size was valued at USD 160.6 Billion in 2019 and is poised to grow from USD 170.72 Billion in 2023 to USD 278.32 Billion by 2031, at a CAGR of 6.3% during the forecast period (2024-2031).

Water, oil, gas, propane, and other gases are primarily transported using steel pipes. As a result, the pressure rating is significant, and the outside and inside diameter is the key measurement. Steel tubes are an anti-corrosion and rust-free application of iron and steel in a specific niche. The primary use of steel tubes is for structural purposes, like scaffolding. In applications where precise outside diameters are required, they are frequently used. Because it indicates how much the tube can hold, the outside diameter is crucial. Demand for steel pipes and tubes is also rising as a result of new and upcoming oil and natural gas projects. Petrochemicals are necessary for the operation of wind turbines, batteries, medical devices, plastics, detergents, packaging, and tyres. As a result of petrochemical plants using steel pipes and tubes, demand for these products is increasing. Additionally, steel tubes and pipes are used in automotive applications, including tubes for diesel spark plugs, engine block heating, diesel particulate filters, and many more. In addition, governments of numerous developing economies are heavily investing in the development of infrastructure. Rapid industrialization and population growth have led to an increase in the sales of homes, properties, and construction expenditures and hence are expected to positively impact the market expansion during the upcoming years.

US Steel Pipes And Tubes Market is poised to grow at a sustainable CAGR for the next forecast year.