Global Seamless Pipes Market Size 2024, Forecast To 2033
11 Mar, 2024
The seamless pipes market has grown steadily, increasing from $235.59 billion in 2023 to $245.82 billion in 2024, with a CAGR of 4.3% during the historical period. This growth is attributed to strong economic growth in emerging markets and increasing government initiatives to support steel and steel products, including seamless pipes. The positive trajectory continues into the future, with an expected market size of $293.81 billion in 2028 at a CAGR of 4.6%. Growth drivers in the forecast period include the growing oil and gas industry, installation of new transmission pipelines, expanding chemical industry, and rapid industrialization and growth in manufacturing industries. Notable trends in the forecast period encompass a focus on investments in low-emission furnaces, the development of new technological solutions, research and development (R&D) facility expansion, mergers and acquisitions, and a focus on developing new, innovative products.
Global Seamless Pipes Market Key Driver
The seamless pipes market is witnessing growth driven by the installation of new transmission pipelines globally. Transmission pipelines, large-diameter steel pipes, transport crude oil from gathering systems to refining, processing, or storage facilities. These pipelines contribute to the seamless pipes market by operating at high pressure and temperature, facilitating the movement of natural gas from compressor stations and storage facilities to regulators. According to the US Energy Information Administration (EIA), new transmission pipelines with approximately 3 million miles of mainline were built, delivering approximately 27.6 trillion cubic feet of natural gas to around 77.7 million consumers in 2021. This global installation of new transmission pipelines becomes a key driver for the seamless pipes market, with market size values for 2023, 2024, and 2028 playing a crucial role in shaping this growth narrative.
Get A Free Sample Of The Global Seamless Pipes Market ReportGlobal Seamless Pipes Market Segments
The seamless pipes market covered in this report is segmented –
1) By Type: Hot Finished Seamless Pipes, Cold Drawn Seamless Pipes
2) By Materials: Steel And Alloys, Copper And Alloys, Nickel And Alloys, Magnesium Alloys, Other Materials
3) By Production Process: Continuous Mandrel Rolling, Mannesmann Plug Mill Process, Cross-Roll Piercing, Pilger Rolling
4) By Application: Oil And Gas, Building And Construction, Power Generation, Automotive, Aviation, Other Applications
By Geography:The regions covered in the seamless pipes market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
North America was the largest region in the seamless pipes market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the seamless pipes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Major Seamless Pipes Industry Players
Nippon Steel Corporation, Vallourec SA, Tenaris SA, ArcelorMittal, JFE Holdings, Inc, Sumitomo Corporation, Salzgitter AG, United States Steel Corporation, TATA Steel, Maharashtra Seamless Ltd, Hunan Standard Steel Co., Ltd, Ansteel Group Co., Ltd, Baosteel Trading Co., Ltd, Wuhan Heavy Industry Casting & Forging Co., Ltd, Jiangsu Wujin Stainless Steel Pipe Group Co., Ltd, Jindal Saw Ltd, Sandvik AB, IPP Europe Ltd., Tubos Reunidos S., TMK Group., Zekelman Industries Inc., Zamzam Steel, Santok Steel Corporation, ArcoSteel, AK Steel Holding
Get The Full Global Seamless Pipes Market Report
Seamless Pipes Market Overview
Seamless pipes refer to solid steel pipes, which are in sheet or bar form and are formed into a solid round shape and then heated and cast over a form such as a piercing rod to create a hollow tube or shell. These are lightweight pipes with benefits such as high-temperature resistance, fatigue resistance, and good impact resistance and are used for applications such as transportation of water or oil, and heavy wall tubing applications that can withstand high pressure or perform in extreme environments.
Seamless Pipes Global Market Report 2023 provides data on the global seamless pipes market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The seamless pipes market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.