Global Steel Pipe Market By Type (Carbon Steel, Alloy Steel, Stainless Steel, and Tool Steel), By End-Use Industries (Oil & Gas, Construction, Automotive, and others), By Region and Key Companies - Industry Segment Outlook, Market Assessment, Competition Scenario, Trends and Forecast 2022-2032

Steel Pipe Market Overview:

The Steel Pipe Market is projected to reach a valuation of USD 121.11 Bn by 2032 at a CAGR of 2.4%, from USD 93.3 Bn in 2021.

Steel pipes are cylinder-shaped steel tubes that are used in a variety of applications in the steel industry. Steel pipes are mostly used to transmit items such as oil, gas, and water over large distances.

Steel pipes are utilized in everyday equipment including refrigerators, heating systems, plumbing systems, etc. Infrastructural development is another important aspect of steel pipe application, i.e., for structure building requirements such as handrails and pipe bollards.

There are different types of steel pipes depending on their given application, such as those made from carbon steel, stainless steel, etc.

Detailed Segmentation

The global steel pipes market is segmented on the basis of – Steel Types, Sales Channels, and regions. The detailed segmental description is represented below:

Based on Steel Types:

• Carbon Steel
• Alloy Steel
• Stainless Steel
• Tool Steel
• Other Steel Types

Based on End-Use Industries:

• Oil & Gas
• Construction
• Automotive
• Food Processing
• Chemical
• Healthcare
• Other End-Use Industries

Based on Region

• North America
• Europe
• Asia-Pacific
• South America
• Middle East & Africa

Market Dynamics

Drivers for the Global Steel Pipes Market:

Steel pipes are extremely strong and thermally resistant. These pipes have suitable characteristics for applications such as water pipes, oil and gas pipes, and sewage pipes. Furthermore, this market is expected to upsurge due to the increasing adoption of steel pipes in various areas of application.

Moreover, factors such as increasing construction activities, particularly in emerging economies, as well as the expansion of the oil & gas industry are expected to have a positive influence on the revenue growth trajectory of the global steel pipes market.

Restraints for the Global Steel Pipes Market:

The usage of steel pipes is declining in certain regions due to them being an expensive option, as well as the availability of alternative product options such as plastic pipes, which are gaining popularity due to their low cost and lightweight factor. Furthermore, the low penetration rate of steel pipes in industries other than the oil & gas and construction industries is also projected to stifle the global steel pipes market’s further growth.

Key players in this market are :

• ArcelorMittal S.A.
• Steel Authority of India (SAIL)
• Tata Iron and Steel Ltd.
• Jindal Vijaynagar Steel (JVSL)
• Essar Steel and Ispat Industries
• American Cast Iron Pipe Company
• Baosteel Group Corporation
• Evraz Plcevraz Plc
• Anhui Tianda Oil Pipe Company Limited
• Hyundai Steel Company
• and JFE Holdings Corporation
• among others.