Steel Pipe Market Size, Share, Growth, and Industry Analysis, By Type (Seamless Steel Pipes, Welded Steel Pipes), By Application (Oil and Gas, Construction, Water and Sewage) and Regional Forecast to 2032

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STEEL PIPE MARKET OVERVIEW

The global steel pipe market was valued at USD 106.29 billion in 2024 and is expected to rise to USD 110.3 billion in 2025, eventually reaching USD 148.64 billion by 2033, expanding at a CAGR of 3.8% from 2025 to 2033.

The Steel Pipe Market is all about the production and distribution of steel pipes used in industries like construction, oil and gas, water supply, and transportation. The pipes are important for transporting liquids, gases, and solids, hence highly valued for their durability, strength, and resistance to corrosion. The market is driven by increasing infrastructure development, industrial growth, and urbanization. With advancements in manufacturing technologies and the growing demand for sustainable, high-performance materials, the steel pipe market is expanding worldwide. In addition, demand for seamless and welded steel pipes is increasing in the energy and construction sectors.

KEY FINDINGS

COVID-19 IMPACT

Steel Pipe Market  Had a Negative Effect Due To Supply Chain Disruption During COVID-19 Pandemic

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to the market’s growth and demand returning to pre-pandemic levels.

COVID-19 pandemic disrupted the Steel Pipe Market seriously as production in many factories closed, along with a contraction in construction and industrial activities. The cessation of manufacturing also caused the steel pipe production schedules to become stalled along with being delivered to their customers, while globally the slowdown of infrastructure projects slowed the demand - oil and gas, constructions, transportation infrastructure, etc. Travel restrictions and labor shortages added to the problem of reduced production and logistics. The market had reduced sales, production capacity utilization, and delayed project timelines during the peak pandemic time.

LATEST TRENDS

Increasing Demand For Advanced, Corrosion-Resistant Pipes Capabilities To Drive Market Growth

A major trend in the Steel Pipe Market is the growing demand for advanced, corrosion-resistant pipes to ensure sustainability and longevity in infrastructure. Coated steel pipes and HSLA steel pipes have gained popularity in the markets, especially in oil and gas, water supply, and wastewater management industries. Advanced pipes provide superior performance, reduce maintenance costs, and have become more popular in extreme conditions. Also, the direction toward intelligent pipelines with sensor monitoring capabilities in real time enhances infrastructure efficiency, further accelerating demand for high-tech, resistant steel pipes.

• According to the American Iron and Steel Institute (AISI), the U.S. produced approximately 1.2 million tons of seamless steel pipes in 2023, marking a 5% rise compared to 2021 as infrastructure projects and energy exploration drive demand.
• According to the World Steel Association, nearly 70% of steel pipe manufacturers globally are now investing in low-emission production methods, with over 400 kilotons of steel pipes made from recycled scrap in 2022 to meet sustainability goals

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STEEL PIPE MARKET SEGMENTATION

By Type

Based on Type, the global market can be categorized into Seamless Steel Pipes, Welded Steel Pipes

• Seamless Steel Pipes These pipes are manufactured without seam or joint, making them stronger and more durable than welded pipes. They are widely used in high-pressure applications such as oil and gas pipelines, transportation, and structural purposes due to their high strength and ability to withstand pressure and temperature changes.

• Welded Steel Pipes: Welded pipes are produced by welding steel plates or strips together. These pipes are generally less expensive and are used in less demanding applications. They are mostly used in construction, water supply, and structural applications where strength is required but not as important as in seamless pipes.

By Application

Based on application, the global market can be categorized into Oil and Gas, Construction, Water and Sewage

• Oil and Gas: In the oil and gas industry, oil, gas, and other fluids are transported in long steel pipes. It provides strength and resistance to corrosion, making them an ideal choice for harsh environments like offshore drilling and pipeline transportation.

• Construction: Steel pipes are used extensively in construction for structural frameworks, water distribution systems, and heating and cooling systems. Their durability and resistance to various environmental factors make them a staple in modern infrastructure projects.

• Water and Sewage: Steel pipes are essential in municipal water and sewage systems. They provide a long-term solution for the transportation of clean water and handling wastewater. They are preferred for their strength, reliability, and ability to endure high-pressure conditions.

MARKET DYNAMICS

Market dynamics include driving and restraining factors, opportunities and challenges stating the market conditions.

Driving Factors

Infrastructure Development to Boost the Market

There is a noticeable boost in the Steel Pipe Market  growth. Infrastructure development, especially in the developing world, is one of the biggest drivers for the steel pipe market. In fact, investments in construction, transportation, water supply, and sewage systems increase day by day, thereby requiring strong and reliable steel pipes, thus propelling the market growth.

• As per the U.S. Energy Information Administration (EIA), over 12,000 miles of new oil and gas pipelines were added in North America in 2022 alone, significantly boosting the demand for high-strength steel pipes.
• According to India’s Ministry of Jal Shakti, under the Jal Jeevan Mission, more than 52 million rural households have been connected with piped water supply since 2019, pushing steel pipe consumption in the water sector.

Demand in Oil and Gas Industry to Expand the Market

The expansion of the oil and gas sector, particularly in exploration and transportation, is a key factor driving the steel pipe market. Steel pipes are an essential requirement for the safe and efficient transportation of oil, natural gas, and petrochemicals, which fuels the demand for high-performance pipes.

Restraining Factor

Volatile Raw Material Prices to Potentially Impede Market Growth

The raw material, primarily steel, whose price can vary and thereby limit the market's growth. Global supply-demand imbalance, trade tariffs, and shifts in energy costs have an impact on raw steel prices and, consequently, make it challenging for steel pipe producers to remain profitable. The unpredictable nature of pricing is likely to have an effect on their profitability.

• According to the World Steel Association, global iron ore prices fluctuated by nearly 40% in 2022, leading to cost unpredictability for steel pipe manufacturers
• As reported by the European Environment Agency (EEA), stricter emission norms could increase compliance costs by 15-20% for European steel pipe plants by 2026, affecting profit margins

Technological Advancements in Pipe Manufacturing To Create Opportunity For The Product In The Market

Opportunity

Advanced manufacturing technologies, such as corrosion-resistant and high-strength steel pipes, will provide market players with an opportunity to cater to niche industries. Moreover, the emergence of smart pipelines with sensors for real-time monitoring is expected to open new growth avenues.

• According to the International Energy Agency (IEA), over 4,500 km of dedicated hydrogen pipelines are planned globally by 2030, creating new demand for corrosion-resistant steel pipes.
• As per RenewableUK, the offshore wind sector in the UK alone will require over 1 million tonnes of structural steel pipes for foundations and supports by 2030

Environmental and Sustainability Concerns Could Be A Potential Challenge For Consumers

Challenge

Environmental impact and sustainability issues continue to strain the steel pipe market. Relevant environmental considerations now force producers to be "green" in production. In addition, green material demand might require more sustainable alternatives for pipe manufacturing.

• According to the World Trade Organization (WTO), more than 18 countries imposed anti-dumping duties on steel pipes in 2022, leading to supply chain disruptions and added costs
• The American Welding Society (AWS) highlights that the U.S. faces a shortage of 360,000 welding professionals by 2027, directly impacting steel pipe fabrication timelines

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STEEL PIPE MARKET REGIONAL INSIGHTS

• North America

The North America region has a growing United States Steel Pipe Market. North America, particularly the United States, is a leading region in the Steel Pipe Market because of extensive industrial activity in the oil and gas exploration, construction, and infrastructure development sectors. High-quality, durable steel pipes in the oil and gas industry and considerable investments in infrastructure drive market growth.

• Asia

This is the largest region, with high demand for steel pipes being generated in China, India, and Japan. The largest steel manufacturer is China, and the region has a strong manufacturing sector. Rapid urbanization and infrastructure projects in India and Southeast Asia boost the demand for steel pipes in that market.

• Europe

Europe is another key region for the steel pipe market, with countries like Germany, Italy, and Russia contributing significantly. The region's growing focus on renewable energy projects and infrastructure development in the oil and gas sector supports the demand for specialized steel pipes, especially for energy transportation and distribution.

KEY INDUSTRY PLAYERS

Key Industry Players Shaping the Market Through Innovation and Market Expansion

Key industrial players in the Steel Pipe Market are global manufacturers specializing in producing high-quality steel pipes for various applications, such as oil and gas, construction, and water systems. The companies offer a wide range of pipe types, including seamless and welded steel pipes, with advanced features such as corrosion resistance and high strength. The industry leaders are spending heavily on R and D to help meet the changing needs of industries and respond to environmental regulations. They also focus on increasing their capacities and optimizing supply chains to meet higher demand across different geographies.

• TMK Group: According to TMK Group’s sustainability report, the company operates 28 production sites and delivers over 3 million tonnes of steel pipes annually, meeting approximately 23% of Russia’s total pipe demand.
• Nippon Steel: As per Nippon Steel Corporation, the firm holds more than 400 patents related to high-performance steel pipe technologies, enhancing supply to advanced sectors like automotive and energy.

List of Top Steel Pipe Companies

• Tenaris (Luxembourg)
• JFE Steel Corporation (Japan)
• Vallourec (France)
• TMK Group (Russia)
• Steel Authority of India Limited (SAIL) (India)
• ArcelorMittal (Luxembourg)
• Nippon Steel Corporation (Japan)
• U.S. Steel Corporation (U.S.)
• United States Steel Corporation (U.S.)
• HYUNDAI Steel (South Korea)

KEY INDUSTRY DEVELOPMENT

September 2021: In September 2021, a major development in the Steel Pipe Market was when the leading manufacturers started investing in advanced production technologies to increase the efficiency and sustainability of steel pipe manufacturing. Such developments included the adoption of eco-friendly processes and development of corrosion-resistant steel pipes to meet the increasing demands from the oil and gas, construction, and water industries. In addition, November 2020 saw an increasing number of infrastructure projects across Asia-Pacific, primarily in India and China. To support large-scale urbanization and energy infrastructure development, the demand for steel pipes increased, which resulted in market growth.

REPORT COVERAGE

A typical report on the Steel Pipe Market provides market trends, growth drivers, challenges, and opportunities based on an extensive analysis. It divides the market based on the type (seamless, welded) and application (oil and gas, construction, water and sewage). The research report on the competitive landscape brings out the strategies of leaders in the industry. It also incorporates a regional analysis, focusing on significant markets like North America, Asia-Pacific, and Europe. The report also contains market forecasts, including up-and-coming trends in terms of corrosion-resistant pipes and developing manufacturing technologies.