Lucintel’s latest market report analyzed that steel pipe provides attractive opportunities in oil and gas, water and wastewater, power generation, automotive, and other industrial sector. The steel pipe market is expected to reach $68.6 billion by 2025 with a CAGR of 1.4%. In this market, carbon steel pipe is the largest segment by material, whereas oil and gas is largest by end use industry. The increasing use of premium and technically advanced pipe by using dopeless technology and increasing use of multilayer pipes for strength and durability provides strategic growth path in this market.
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Based on material, the steel pipe market is segmented into carbon steel, stainless steel, and others. The carbon steel pipe segment is accounted for the largest share of the market in 2020 due to increasing demand for carbon steel pipes due to growth in oil and gas, power generation and automotive industries and stainless steel pipe is expected to register the highest CAGR during the forecast period because stainless steel offers high tensile strength, pressure resistance, and corrosion resistance.
Browse in-depth TOC on “Steel Pipe Market”
100 – Tables
216 – Figures
209 – Pages
The steel pipe market is marked by the presence of several big and small players. Some of the prominent players offering steel pipe include Tenaris, Vallourec, TMK, ArcelorMittal, Nippon Steel and Sumitomo Metals, United States Steel Corporation, Chelpipe, Tata Steel and others.
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