Steel Pipes Market Size & Share, by Technology (Seamless, ERW); Steel Material (Alloy, Black, Carbon, Iron, Mild, Stainless); Type (Line, Standard Structural); Application (Water Pipes, Steel Casing Pipes, Sewage Pipes, Structural Steel Pipes, Industrial Steel Pipes, Steel Scaffolding Pipes, Oil & Gas Pipes) - Global Supply & Demand Analysis, Growth Forecasts, Statistics Report 2024-2036

  • Report ID: 493
  • Published Date: Nov 03, 2023
  • Report Format: PDF, PPT

Global Market Size, Forecast, and Trend Highlights Over 2023- 2036

Steel Pipes Market size is expected to cross USD 705 Billion by the end of 2036, growing at a CAGR of 9% during the forecast period, i.e., 2024-2036. In the year 2023, the industry size of steel pipes was over USD 185 Billion. Over the course of the forecast period, an increase in the number of new petrochemical facilities being built globally is anticipated to drive up demand for steel pipes and tubes. In the chemical and petrochemical industries, steel pipes and tubes are used in heat exchangers, pressure tubes, and pipeline systems. Therefore, it is anticipated that rising investment in the building of petrochemical plants will support market expansion. One of the world's top producers of petrol and oil is the United States. The U.S. Energy Information Administration reports that as of December 2021, proven crude oil reserves have climbed by 14.8% year over year to 41.2 billion barrels. The reserves of wet natural gas increased by 32.1% to 625.4 trillion cubic feet. In 2021, the nation's proportion of the world's oil production was approximately 14.5%.

In addition to this, steel pipes are widely used for structural purposes in the building industry. They are employed in the construction of pilings, scaffolding, and frameworks. The growth of the building industry, especially in emerging nations, is expected to fuel demand for steel popes. Urbanization and population growth are expected to have a positive effect on steel pipes market expansion. Moreover, government investments in infrastructure projects such as airports, bridges, and roadways are driving the demand for steel pipes. 

Steel Pipes Market
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Steel Pipes Market: Growth Drivers and Challenges

Growth Drivers                          

  • Growth and Development of the Industrial Sectors- The global steel pipes market is significantly impacted by industrial growth in many different areas. Steel pipes are crucial parts of production processes because they serve as conduits for liquids, gases, and materials in a variety of industries, including the automotive, petrochemical, and chemical industries. The internal diameter, ductility, yield strength, and pressure rating are all crucial factors to consider when choosing pipes for specific purposes. In the US’s oil & gas sector, steel pipes and tubes are frequently utilised. The steel pipes market is anticipated to expand as a result of the adjustments made to the oil and gas industry. The oil and gas sector in the United States generated USD 332.9 billion in revenue in 2022. Compared to the prior year, when U.S. oil and gas generated a total revenue of USD 211.2 billion, that represented a significant gain.
  • The Water Management System's Modernization- Steel pipes are widely used in industrial wastewater management, potable water delivery, and sewage disposal because of their resilience to corrosion. The need for steel pipes in the water management industry is growing, which confirms their position as a major factor propelling the global market. Water supply and waste water treatment systems also make extensive use of steel pipes. Steel pipe demand is anticipated to be driven by the need to upgrade and expand water infrastructure worldwide. Growing concerns about water scarcity also support the expansion of the steel pipes market. Furthermore, the emphasis on effective water management is probably going to encourage the use of steel pipes even more.
  • Developments in the Automotive Sector- In the automotive industry, steel pipes are utilized for structural components, exhaust systems, and other parts. market is anticipated to witness growth opportunities in the upcoming years and provide cutting-edge solutions as the automobile sector progresses with the advent of electric vehicles and light weighting initiatives.


  • High-end products not able to meet consumers expectations- Expensive goods are unable to satisfy consumer demands. Customers occasionally have specific requirements regarding the features and calibre of steel pipes. However, because domestic products cannot satisfy their needs owing to variable production, low supply, and other factors, they are forced to choose expensive foreign products.
  • Cost fluctuations in raw materials like coal and iron ore can have an impact on the stability of the steel pipes market and the overall cost structure of steel pipes.
  • Steel pipes are susceptible to corrosion, which is particularly problematic in severe environment applications. It can be challenging to create a corrosion-resistant coating that works well and to deal with maintenance problems.

Steel Pipes Market: Key Insights

Base Year


Forecast Year



~ 9%

Base Year Market Size (2023)

 ~ USD 185 Billion

Forecast Year Market Size (2036)

 ~ USD 705 Billion

Regional Scope

  • North America (U.S., and Canada)
  • Latin America (Mexico, Argentina, Rest of Latin America)
  • Asia-Pacific (Japan, China, India, Indonesia, Malaysia, Australia, Rest of Asia-Pacific)
  • Europe (U.K., Germany, France, Italy, Spain, Russia, NORDIC, Rest of Europe)
  • Middle East and Africa (Israel, GCC North Africa, South Africa, Rest of the Middle East and Africa)
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Steel Pipes Segmentation

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 2036. 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:


  • Seamless
  • ERW


  • Alloy Steel
  • Black Steel
  • Carbon Steel
  • Iron Steel
  • Mild Steel
  • Stainless Steel


  • Line
  • Standard Structural


  • Oil & Gas
  • Power Plant
  • Automotive & Transportation
  • Chemicals & Petrochemicals
  • Construction
  • Mechanical Engineering


  • Water Pipes
  • Steel Casing Pipes
  • Sewage Pipes
  • Structural Steel Pipes
  • Industrial Steel Pipes
  • Steel Scaffolding Pipes
  • Oil & Gas Pipes

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Steel Pipes Industry - Regional Synopsis

APAC Market Forecast

Steel pipes market in the Asia Pacific region is expected to hold 27% of the revenue share by 2036. The growth of the region is due to the existence of sizable manufacturing and petrochemical industries, nations like China, South Korea, India, and Japan are credited with a big portion of the market share. These nations are major consumers of steel pipes and tubes. China's production of crude steel reached a remarkable 536 million tonnes in the first half of 2023, up 1.3% year over year, according to figures issued by the National Bureau of Statistics. On the other hand, there was a 1.9% decline in the apparent consumption of crude steel during the same period.

Middle East & Africa Market Statistics

Steel pipes market in middle east & Africa region is predicted to hold second largest share of about 25% during the forecast period. The growth of the region is due to increasing private sector investment in the establishment of new petrochemical facilities, the Middle East and Africa region is expected to have moderate growth throughout the projection period. For example, the Saudi Arabian Ministry of Energy approved Alujain Corporation's application to develop a new petrochemicals project in Yanbu Industrial City in November 2022.

Research Nester
Steel Pipes Market size
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Companies Dominating the Steel Pipes Market

    • ArcelorMittal
      • Company Overview
      • Business Strategy
      • Key Product Offerings
      • Financial Performance
      • Key Performance Indicators
      • Risk Analysis
      • Recent Development
      • Regional Presence
      • SWOT Analysis
    • Hebei Iron & Steel Group
    • Wuhan Iron & Steel Group
    • POSCO International Corporation
    • Jindal Stainless Limited
    • ThyssenKrupp AG
    • United Steel Corporation
    • Rama Steel Tubes Limited
    • Tata Steel Group
    • Hyundai Steel Company

In the News

  • ArcelorMittal launched the industry’s first low-carbon emission steel tubes, with a CO2 emissions reduction of up to 75%. It aimed to help companies in the construction, agriculture, and energy sectors in their decarbonisation journey to achieve the climate goals outlined in the Paris Agreement and the European Green Deal.
  • Jindal Stainless Limited (JSL) planned to expand the capacity of the steel plant to 25.2 MTPA at Angul, Odhisha, by 2030. This capacity expansion is expected to increase JSPL's investment in Odisha to more than INR 1,25,000 crore (USD 15,875 million) from INR 45,000 crore (USD 5,715 million).

Author Credits:  Richa Gupta

  • Report ID: 493
  • Published Date: Nov 03, 2023
  • Report Format: PDF, PPT

Frequently Asked Questions (FAQ)

Development of industrial sector and water management are the major factors driving the growth of the steel pipes market.

The market size of steel pipes is anticipated to attain a CAGR of 9% over the forecast period, i.e., 2024-2036.

The major players in the market are Hebei Iron & Steel Group, Wuhan Iron & Steel Group, POSCO International Corporation, Jindal Stainless Limited, ThyssenKrupp AG, United Steel Corporation, Rama Steel Tubes Limited, Tata Steel Group, and others.

The oil & gas segment is anticipated to garner the largest market size by the end of 2036 and display significant growth opportunities.

The market in the asia pacific region is projected to hold the largest market share by the end of 2036 and provide more business opportunities in the future.
Steel Pipes Market Report Scope

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