Press release
Global Industrial Tubes Market to Reach $1002.8 Billion by 2029, Growing at 9.3% CAGR
Industrial Tubes
The growth of the industrial tubes market is anticipated to be boosted by the increasing surge in the oil and gas sector. The primary focus areas of the oil and gas industry include exploration, drilling, development, production, refining, distribution, and transportation of hydrocarbons. Industrial tubes, which are specifically designed to efficiently convey crude and refined petroleum as well as fuels such as oil, natural gas, and biofuels play a vital role. To cite an example, the U.S. Energy Information Administration, an American Federal Statistical System committed to the energy sector, reported in April 2022 that the crude oil production in the US was approximately 348,849 barrels. As such, the escalating prominence of the oil and gas industry is prompting an upsurge in the demand for the industrial tubes market.
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How will the growth rate of the industrial tubes market shape industry trends by 2034?
In recent times, there has been notable growth in the industrial tubes market size. We anticipate an increase from $646.18 billion in 2024 to $701.38 billion in 2025, boasting a compound annual growth rate (CAGR) of 8.5%. Factors contributing to this growth during the historic period include developments in construction and infrastructure, industrial manufacturing demands, the exploration of oil and gas, global economic scenarios, and infrastructure rehabilitation.
The market for industrial tubes is anticipated to experience substantial growth in the coming years, reaching a worth of $1002.8 billion in 2029, with a compound annual growth rate (CAGR) of 9.3%. The projected growth during this period can be ascribed to various factors such as market competitiveness and innovation, resilient and efficient supply chains, changes in the automotive industry, urbanization, and construction programs, along with environmental statutes and sustainability. Foreseen trends during this period comprise of demands for customization, digitalization, intelligent manufacturing, enhanced focus on sustainability, increasing urbanization, and the use of advanced materials.
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What trends are poised to drive the future success of the industrial tubes market?
Major businesses in the industrial tubes sector are shifting their focus to the creation of new offerings such as CO2-reduced steel tubes and pipes. This effort is a response to environmental regulations and a drive to diminish their carbon emissions. In essence, CO2-reduced steel pipes and tubes are steel merchandise produced using methods that limit the carbon dioxide released during creation. For example, The Van Leeuwen Pipe and Tube Group, a company based in the Netherlands that specializes in steel pipes and pipe and tube applications, brought out the Van Leeuwen Impact brand in July 2024. This brand consists of a fresh selection of CO2-reduced steel pipes and tubes, obtained from a series of respected European manufacturers. All of these products are crafted to respond to the growing necessity for eco-friendly solutions across a multitude of industrial applications. They can be utilized widely within the industrial and energy market, aiding businesses in showing their dedication to conservation while still reaching operational aims.
Which primary segments of the industrial tubes market are driving growth and industry transformations?
The industrial tubes market covered in this report is segmented -
1) By Type: Process Pipes, Mechanical Tubes, Heat Exchanger Tubes, Structural Tubes, Hydraulic And Instrumentation Tubes
2) By Manufacturing: Seamless, Welded
3) By Material: Steel, Non-steel
4) By End-User: Oil And Gas and Petrochemical, Automotive, Mechanical And Engineering, Construction, Other End-Users
Subsegments:
1) By Process Pipes: Stainless Steel Process Pipes, Carbon Steel Process Pipes, Alloy Process Pipes
2) By Mechanical Tubes: Cold Drawn Mechanical Tubes, Hot Finished Mechanical Tubes
3) By Heat Exchanger Tubes: U-Tubes, Straight Tubes, Fin Tubes
4) By Structural Tubes: Square Tubes, Rectangular Tubes, Round Tubes
5) By Hydraulic And Instrumentation Tubes: Hydraulic Tubes, Instrumentation Tubes
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Which geographical regions are pioneering growth in the industrial tubes market?
Asia-Pacific was the largest region in the industrial tubes market in 2024. Asia-Pacific is expected to be the fastest-growing region in the global industrial tubes market share during the forecast period. The regions covered in the industrial tubes market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Who are the influential players reshaping the industrial tubes market landscape?
Major companies operating in the industrial tubes market include Sandvik AB, Vallourec S.A., Tenaris S.A., Nippon Steel Corporation, ArcelorMittal S.A., TATA Steel Limited, United States Steel Corporation, Chelpipe Group, Benteler International AG, Jindal SAW Ltd., Hyundai Steel Co., Ltd., Tubacex S.A., Ratnamani Metals & Tubes Ltd., Fine Tubes Ltd., Zekelman Industries Inc., Pennar Industries Limited, Maharashtra Seamless Limited, Nova Tube Inc., Maruichi Steel Tube Ltd., Webco Industries, Inc., Liberty House Group, Essar Steel India Ltd., MRC Global Inc., OAO TMK, Vallourec Deutschland GmbH, Nippon Steel & Sumitomo Metal Corporation, MST Seamless Tube & Pipe, Metal-Matic Inc., Precision Tube Inc.
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What Is Covered In The Industrial Tubes Global Market Report?
•Market Size Forecast: Examine the industrial tubes market size across key regions, countries, product categories, and applications.
•Segmentation Insights: Identify and classify subsegments within the industrial tubes market for a structured understanding.
•Key Players Overview: Analyze major players in the industrial tubes market, including their market value, share, and competitive positioning.
•Growth Trends Exploration: Assess individual growth patterns and future opportunities in the industrial tubes market.
•Segment Contributions: Evaluate how different segments drive overall growth in the industrial tubes market.
•Growth Factors: Highlight key drivers and opportunities influencing the expansion of the industrial tubes market.
•Industry Challenges: Identify potential risks and obstacles affecting the industrial tubes market.
•Competitive Landscape: Review strategic developments in the industrial tubes market, including expansions, agreements, and new product launches.
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