Lucintel Forecasts Steel Pipe Market to Reach $68.6 Billion by 2025

Market-Research

According to the recent study the steel pipe market is projected to reach an estimated $68.6 billion by 2025 from $63.0 billion in 2019, at a CAGR of 1.4% from 2020 to 2025. Growth in this market is primarily driven by increasing construction of new pipelines, replacement of aging pipelines, urbanization rate, and infrastructure development.

Browse 216 figures / charts and 100 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).

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“Carbon steel pipe market is expected to remain the largest segment during the forecast period.”

Based on material, the steel pipe market is segmented into carbon steel, stainless steel, and others. Lucintel forecasts that the carbon steel pipe is expected to witness the largest segment over the forecast period due to increasing demand for carbon steel pipes due to growth in oil and gas, power generation and automotive industries and stainless steel pipe will witness the highest growth during the forecast period because stainless steel offers high tensile strength, pressure resistance, and corrosion resistance.

“Within the steel pipe market, the oil and gas segment is expected to remain the largest end use industry”

Based on end use industry, the oil and gas segment is expected to witness the largest end use industry 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 is expected to be the largest region over the forecast period due to 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.

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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 and Sumitomo Metals, United States Steel Corporation, Chelpipe, Tata Steel and others 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 click on this link https://www.lucintel.com/steel-pipe-market.aspx or 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. For further information, visit www.lucintel.com

Contact:
Brandon Fitzgerald
Lucintel
Dallas, Texas, USA
Email: brandon.fitzgerald@lucintel.com
Tel. 972.636.5056
Cell: 303.775.0751
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