Steel Pipe Market: By Technology (Welded Steel Pipes, ERW Steel Pipes, Galvanized Steel Pipes), By Material (Alloy Steel, Black Steel, Carbon Steel, Iron Steel, Mild Steel, Stainless Steel), By Application (Water Pipes, Steel Casing Pipes, Sewage Pipes, Structural Steel Pipes, Industrial Steel Pipes, Steel Scaffolding Pipes, Oil & Gas Pipes), By Type (Line, Standard, Structural), and Geography

Steel Pipe Market was valued at USD 147.8 billion in 2022 and is expected to grow at an 8.4% CAGR from 2023 to 2029. The steel pipes are used in several industrial & infrastructural applications as steel pipe tubes. Steel pipes are also used in the assembly of equipment in industries. The major use of steel pipe is the transportation of oil, gasses, and water through sub-terrains. Carbon steel pipes Are used majorly in industries having high-temperature variances. The increasing demand for oil & gas, construction chemicals, and water distribution, and energy along with rapid industrialization is expected to drive the steel pipes market over the forecast years. In addition, growing government investments in infrastructure development such as investment in the water distribution network, gas pipelines, and other energy infrastructures are expected to boost the growth of the steel pipe market at a significant rate. Furthermore, the increasing investments by the market key players in research & development in enhancing the durability, efficiency, and safety of steel pipes are expected to increase the demand for steel pipes in pipeline infrastructures in the forecast years. However, factors like the installation of steel pipes, the high cost of installation, the fluctuation of raw materials such as steel scrap, coal, and iron ore, and competition from other market players are expected to hinder the growth of the steel pipes market over the forecast period. Whereas, increasing demand for eco-friendly and non-corrosive pipes in oil and gas industries, and growing applications of steel pipes owing to their durability are anticipated to provide an opportunity to the market key players in the forecasted years. Geographically, the Asia Pacific region held the major market share in 2022 and is expected to dominate the global steel pipe market in the forecasted years.