Lucintel Forecasts Industrial Seamless Steel Pipe Market To Reach $10 Billion By 2030

By Author: Lucintel LLC
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According to the recent study the industrial seamless steel pipe market is projected to reach an estimated $10 billion by 2030 from $6.9 billion in 2023 at a CAGR of 5% from 2023 to 2030. Growth in this market is primarily driven by growing demand of seamless steel pipe in power generation and automotive industries due to its superior tensile strength and high corrosion & pressure resistance.
Browse 98 figures/charts and 85 tables in this 216-page report to understand trends, opportunities and forecast in industrial seamless steel pipe market by end use industry (power generation, petrochemical, automotive, industrial processing plant, and others), process (hot finished seamless pipe and cold finished seamless pipe), diameter (small diameter pipes (up to 12 inches) and large diameter pipes (12 inches and above), pressure rating (high, medium, and low pressure) and region (North America, Europe, Asia Pacific, and the Rest of the World).
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Lucintel forecasts that hot finished seamless pipes will remain the largest segment and it is also expected ...
... to witness the highest growth over the forecast period because of its low cost and high tolerance & crack resistance.
Within the global industrial seamless steel pipe market, the power generation will remain the largest end use industry over the forecast period due to growing hydro and nuclear power generation plants. The automotive segment is expected to witness the highest growth over the forecast period due to increasing vehicle production.
APAC will remain the largest region and it is also expected to witness the highest growth over the forecast period due to the increasing urbanization, infrastructure development, and the continuous growth of the industrial sectors in this region.
Major players of industrial seamless 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. Vallourec, Chelpipe, TMK, Tenaris, Baosteel, JFE Steel, US Steel, and TPCO are among the major industrial seamless 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. +1 972.636.5056
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