U.S. 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

U.S. Cold Drawn Seamless Steel Pipes Market size was valued at USD 12 billion in 2019 and is poised to grow from USD 12.97 billion in 2023 to USD 24.19 billion by 2031, growing at a CAGR of 8.1% in the forecast period (2024-2031).

An extensive rise in the growing demand from oil & gas sector for seamless pipes along with the growing number of new oilfield discoveries and rise in offshore spending are major factors expected to drive the growth of the U.S. cold drawn seamless steel pipes market throughout the forecast period. Additionally, aging pipe infrastructure needs the replacement and change in pipes because aged pipeline has more chances of getting leaks and corrosion, therefore several large service providers and operators of the market are heavily investing in pipeline replacement and innovation, which is likely to foster growth of the market at a strong growth rate over the coming years.

Moreover, numerous types of beneficial features of seamless 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 factors propelling the growth of the U.S. 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.