Steel Pipes Market Analysis

End-User (Oil & Gas, Power Plant, Automotive & Transportation, Mechanical Engineering)

The oil & gas segment is projected to account for 32% of the global steel pipes market share during the forecast period. The product is mostly used in distribution, process pipes, oil & gas industry applications, and oil country tubular goods (OCTG). Over the course of the projection period, rising investment in the network of cross-country pipelines for the transmission of gas and oil is anticipated to drive demand for steel pipes and tubes. Global oil production exceeds four billion metric tonnes annually, with the Middle East holding about half of the proven oil reserves. Given how many uses there is for oil, it should come as no surprise that oil and gas firms rank among the biggest in the world.

Technology (Seamless, ERW)

Steel pipes market from the ERW segment is predicted to hold the largest share of about 52% by the end of 2037. The growth of the segment is because of its affordable price and moderate performance, the electric resistance welded (ERW) segment is becoming more and more popular in the market. Plans by fertiliser, oil and gas, and electricity firms to build transportation pipelines are expected to propel this segment. For example, the Indian Oil Corporation (IOCL) stated in December 2021 that it will invest INR 9,028 crore (about USD 1,105.6 million) to build a new crude pipeline from Mundra (Gujarat) to Panipat (Haryana), India. Also, because of their affordable costs and mediocre performance, ERW pipes and tubes are becoming increasingly popular in the market. The segment's growth is significantly aided by contemporary welding technologies like high-frequency welding, which are being incorporated into the process of creating ERW pipes and tubes.

Our in-depth analysis of the global steel pipes market includes the following segments: