Lucintel Forecasts Steel Pipe Market To Reach $106 Billion By 2028

By Author: Lucintel LLC
Total Articles: 4455
Comment this article

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
At Lucintel, we offer solutions for you growth through game changer ideas and robust market & unmet needs analysis. We are based in Dallas, TX and have been a trusted advisor for 1,000+ clients for over 20 years. We are quoted in several publications like the Wall Street Journal, ZACKS, and the Financial Times.
Contact:
Roy Almaguer
Lucintel
Dallas, Texas, USA
Email: roy.almaguer@lucintel.com
Tel. 972.636.5056