Global Iron And Steel Pipe And Tube Market Size, Drivers, Trends, Opportunities And Strategies – Includes Iron And Steel Pipe And Tube Industry
The Business Research Company’s global market reports are now updated with the latest market sizing information for the year 2023 and forecasted to 2032
Rising oil and gas output are likely to spur innovation in iron and steel pipe and tube manufacturing, propelling the market during the forecast period.
The global iron and steel pipe and tube market is expected to grow from $194.89 billion in 2022 to $202.84 billion in 2023 at a compound annual growth rate (CAGR) of 4.1%. The global iron and steel pipes and tubes market size is expected to reach $229.78 billion in 2027 at a CAGR of 3.2%.
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Global Iron And Steel Pipe And Tube Market Segments Include:
- By Type: Seamless Pipes And Tubes, Welded Pipes And Tubes
- By Material: Steel And Alloys, Cooper And Alloys, Aluminum And Magnesium Alloys, Nickel And Alloys, Other Materials
- By End-Users: Oil And Gas, Power Generation, Automotive, Aviation, Construction, Process Industry, Other End Users
- By Geography: The market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, Asia Pacific is the largest region in the global iron and steel pipe and tube market in 2021.
Major Market Players in the iron and steel pipe and tube market include Nippon, US Steel Tubular Products Inc., Sandvik AB, Zaffertec S.L, ArcelorMittal, United Metallurgical Company (OMK), Tubecon, Samuel Associated Tube Group, Tubos Reunidos S.A.
The primary trend gaining traction in the iron and steel pipes and tubes market is technological advancement. Major players in the iron and steel pipes and tubes market are focusing on introducing innovative products to increase their market position. For example, Hypertherm Inc., a US-based maker of cutting equipment and accessories, released Rotary Tube Pro 3, a tube and pipe cutting software for machines having a rotary axis, in February 2021. It entails cutting along a common line and allows operators to separate two or more sections, resulting in increased material utilisation and longer consumable life.
The Iron And Steel Pipe And Tube Global Market Report 2023 provides a iron and steel pipe and tube market overview for the time series: historic years (2010 – 2021) and ten years forecast (2023 – 2032). The iron and steel pipe and tube market forecast analyzes iron and steel pipe and tube market size, iron and steel pipe and tube market share, leading competitor market positions. The regions covered in the report include Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa and the countries include Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
Round tubular devices used to distribute fluids and gases are referred to as iron pipes and tubes. Steel pipes and tubes are long, hollow tubes used for a range of applications. It is used in regulated fuel injection and automobile suspension systems. They are adaptable in harsh environments, enabling in the prevention of spills and leaks.
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