According to the latest report by IMARC Group, titled “Steel Tubes Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, the global steel tubes market size reached a value of US$ 79.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 87.6 Billion by 2027, exhibiting a CAGR of 1.63% during 2022-2027.
Steel tubes refer to long, hollow tubes made using iron alloys with aluminum, manganese, titanium and other elements. They have excellent strength, durability, corrosion resistance, and the ability to withstand high pressure and temperature. Steel tubes are also available in two major types, depending on their production process, namely seamless and welded. Over the years, steel tubes have gained traction as they are widely employed across the construction sector to protect electrical wires and for underground transportation of water and gas due to their versatility, lightweight and efficiency.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Global Steel Tubes Market Trends:
The global steel tubes market is primarily driven by the escalating product demand from the construction and automotive sectors. These tubes offer high energy absorption capacity, construction safety and resistance against collision shocks. Additionally, the expanding oil and gas industry is providing a positive outlook to the market as steel tubes are widely used for transporting fluids and in the form of conveyor belt rollers and casings for concrete pilings. Furthermore, steel tubing is utilized to carry chromium with the rising shale gas drilling activities. Other factors, including the growing automobile production, increasing product adoption in heating, ventilation and air-conditioning (HVAC) and refrigeration equipment, and rapid infrastructural development, are also anticipated to drive the market further.
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of these key players include:
- Borusan Mannesmann Boru Sanayi ve Ticaret A.S
- JFE Steel Corporation
- ArcelorMittal S.A.
- Jindal SAW Ltd.
- China Baowu Steel Group Corp., Ltd.
- Gerdau
- Nippon & Sumitomo Stainless Steel Metal Corporation (NSSMC)
- POSCO
- Nucor Corporation
Key Market Segmentation:
Breakup by End Use Industry:
- Oil and Gas
- Petrochemicals
- Infrastructure and Construction
- Automotive
- Water Treatment and Sewage
- Others
Breakup by Product Type:
- Seamless Steel Tubes
- Welded Steel Tubes
Breakup by Material Type:
- Carbon Steel
- Stainless Steel
- Alloy Steel
- Others
Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key highlights of the Report:
- Market Performance (2016-2021)
- Market Outlook (2022-2027)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
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