Press release
Industrial Tubes market Sharing Economy In market Outlook 2026: Tata Steel, Nippon Steel & Sumitomo Metal Corporation (NSSMC), US Steel
Industrial Tubes market
Significant growth in the construction sector is expected to drive growth of the industrial tubes market during the forecast period. According to the Government of U.K., the global construction output is projected to increase from around US$ 8.5 trillion in 2012 to US$ 12 trillion in 2025, witnessing a growth of over 41%.
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Market Taxonomy:-
On the basis of product type, the global industrial tube market is segmented into:
Structural Tubes
Hydraulic and Instrumentation Tubes
Mechanical Tubes
Heat Exchanger Tubes
Process Pipes
Others
On the basis of material, the global industrial tube market is segmented into:
Carbon Steel
Alloy Steel
Stainless Steel
Non-steel
Brass
Asia Pacific is expected to be the largest and fastest growing market in the industrial tubes market during the forecast period. This is due to increasing investment in oil & gas exploration projects. In the oil & gas and petrochemical industry, industrial pipes are used for extraction, transportation, and processing. According to India Brand Equity Foundation, oil and gas industry of India is expected to attract US$ 25 billion investment in production by 2022 due to capacity expansion in the petrochemical & chemical industry and increase in gas exploration projects.
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In August 2019, Van Leeuwen Pipe and Tube Group (Netherlands based distributor of steel pipes, valves, and fittings) acquired BENTELER Distribution. BENTELER Distribution is a distributor of carbon and stainless steel tubes, offering products to automotive, mechanical engineering, energy, ship building and construction industries. The acquisition will help Van Leeuwen to expand its presence specially in Switzerland, Scandinavia, Germany, and Central Europe.
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