Steel Tubes Market Size, Share, Growth, Trends, and Global Industry Analysis: By Product Type (Welded Stainless-Steel Tube and Seamless Stainless-Steel Tube), By Material Type (Carbon Steel, Stainless Steel, Alloy Steel, and Others), By End-Use Industry (Oil and Gas, Petrochemicals, Infrastructure and Construction, Automotive, Water Treatment and Sewage, and Others), and Region Forecast 2020-2031

Steel Tubes Market size was valued at US$ 89,009.3 million in 2024 and is expected to reach US$ 105,083.6 million by 2031, growing at a significant CAGR of 2.4% from 2025-2031. Moreover, the U.S. market is projected to grow significantly, reaching an estimated value of US$ 32,786.1 Million by 2031.

The global market includes the production, distribution, and utilization of cylindrical and tubular steel products for a wide range of industrial, commercial, and infrastructural applications. The global market is primarily driven by robust demand from the oil and gas industry, where steel tubes are vital for exploration, drilling, and transportation due to their durability and pressure resistance. This demand is further amplified by rising energy consumption and the development of deepwater and unconventional reserves across key regions like the Middle East, the U.S., and Russia. In parallel, other sectors such as infrastructure, automotive, and machinery also contribute to steady market growth. A major emerging trend is the shift toward decarbonized steel production, prompted by regulatory pressures such as the EU’s CBAM and global net-zero targets. This is leading to increased investment in low-carbon steelmaking technologies and sustainable materials.

The market’s most promising opportunity lies in the renewable energy sector, where steel tubes are essential for supporting wind turbines, solar panels, and transmission systems. With renewable energy capacity expected to more than double by 2030 (IRENA), demand for high-strength, corrosion-resistant tubing will soar. However, market growth is tempered by key restraints, notably raw material price volatility, high production emissions, and capital-intensive modernization requirements, which particularly impact smaller players. Environmental regulations and material substitution in low-load applications may further challenge the pace of expansion despite strong end-use demand.

Facts & Figures

• Rising Demand from Oil & Gas Industry: Steel tubes are essential in exploration, drilling, and transportation pipelines due to their strength and pressure resistance. For instance, according to the IEA World Energy Outlook 2024, global oil demand is projected to remain above 100 million barrels per day until the early 2030s. The major investments are ongoing in the Middle East, the U.S. (Permian Basin), and Russia. In January 2025, Saudi Aramco announced a $25 billion upstream expansion plan, heavily relying on seamless tubular steel components.
• Infrastructure Development in Emerging Economies: Massive public investments in transport, housing, and water systems are driving demand for steel tubes in construction and utilities. For instance, as per World Bank data 2024, India alone plans to invest $1.4 trillion under the National Infrastructure Pipeline (NIP) by 2025, including major steel-intensive sectors like roads, railways, and urban development. Even India’s National Infrastructure Pipeline (NIP) targets over ?111 lakh crore (~$1.4 trillion) investment by 2025, with steel-intensive sectors such as roads, metro rail, and water pipelines
• Urbanization and Water Infrastructure Modernization: Urban population growth is driving upgrades in water supply and sewage systems, where steel tubes are used in pipelines and processing facilities. For instance, the UN Water Report 2023 highlights that over 2 billion people still lack safely managed drinking water. Governments across Africa and Southeast Asia are investing in water treatment and urban infrastructure.
• Growth of Renewable Energy Projects: Steel tubes are critical in wind towers, solar mounting structures, and green hydrogen transmission infrastructure due to their structural integrity and weather resistance. For instance, in April 2025, the EU committed €54 billion toward offshore wind farms under its REPowerEU plan, significantly boosting demand for high-strength steel tubing, especially corrosion-resistant grades.

Recent Developments 

• In June 2025, Rama Steel Tubes took a 10% equity stake in a 225?MW solar power project under India’s PM-KUSUM scheme, diversifying into renewable energy and ESG-oriented growth.
• In June 2025, Atlas Holdings agreed to purchase Evraz’s U.S. and Canadian operations, including line pipe production units, for up to US$?500 million, enhancing a stable supply base in North America.
• In April 2025, Ratnamani Metals & Tubes partnered with Saudi Electric Supply Company (SESCO) to establish a Joint Venture in Saudi Arabia for the local production of seamless and coated pipes, targeting GCC markets.
• In February 2025, JSW Steel (with JFE) completed the acquisition of tKES India for INR?4158 crore (US$?500?M), strengthening its capability in electrical steel production, relevant to tube supply chains.

Steel Tubes Market Segmentation

Based on the product type

• Welded Stainless-Steel Tube
• Seamless Stainless-Steel Tube

The welded stainless-steel tube segment holds the largest market share in the global market, primarily due to its cost-effectiveness, ease of fabrication, and widespread usage across construction, water distribution, and automotive applications. Welded tubes are ideal for medium- to low-pressure operations and are produced in larger volumes, making them a preferred choice in infrastructure and general-purpose industries. Their consistent wall thickness and customizable lengths further enhance utility and affordability. In contrast, the seamless stainless-steel tube segment, while crucial for high-pressure and critical environments like oil & gas and power generation, holds a smaller share due to its higher manufacturing cost and specialized application scope.

Based on the material type

• Carbon Steel
• Stainless Steel
• Alloy Steel
• Others

Based on material type, the carbon steel segment holds the largest market share in the global market. Its widespread use across oil & gas pipelines, construction, automotive, and industrial machinery is driven by its affordability, strength, and ease of welding and forming. Carbon steel tubes are especially favored in applications where high strength is needed without the high cost of stainless or alloyed variants. Their adaptability makes them the go-to choice in both structural and mechanical use cases worldwide. While stainless steel and alloy steel segments are growing due to demand in corrosive, high-temperature, and high-pressure environments, but they account for smaller shares given their higher cost and more niche applications.

Based on the end-use industry

• Oil and Gas
• Petrochemicals
• Infrastructure and Construction
• Automotive
• Water Treatment and Sewage
• Others

The oil and gas segment holds the largest market share in the global market due to the extensive use of seamless and welded tubes in exploration, drilling, and pipeline transportation. These tubes are essential for withstanding high pressure, corrosive environments, and extreme temperatures, making them indispensable in both upstream and midstream operations. The sector’s consistent global investments and expansion into deepwater and shale reserves further strengthen its dominance. In comparison, while infrastructure and construction and automotive segments show strong growth potential, industries like water treatment and sewage hold a smaller share, primarily using standard-grade welded tubes in low-pressure systems.