Major Growth Driver Identified in 2025 Iron And Steel Pipe And Tube Market: Surging Oil And Gas Production Fuels Growth In The Iron And Steel Pipes And Tubes Market

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Iron And Steel Pipe And Tube Market Size Valuation Forecast: What Will the Market Be Worth by 2025?
In the past few years, the iron and steel pipe and tube market has seen consistent growth. Its value is forecasted to rise from $208.73 billion in 2024 to $216.95 billion in 2025, indicating a compound annual growth rate (CAGR) of 3.9%. The factors contributing to this growth during the historical period include extensive infrastructure development, industrial growth, economic expansion, oil and gas exploration activities, government investment, as well as trends in urbanization and a surge in construction.

Iron And Steel Pipe And Tube Market Size Forecast: What's the Projected Valuation by 2029?
The market size of iron and steel pipes and tubes is projected to experience a consistent growth in the coming years, expanding to a value of $243.57 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 2.9%. The predicted growth within the forecast period may be driven by factors such as renewable energy projects, improvements in water and wastewater systems, initiatives for green buildings, shifts in global trade, and infrastructure resilience projects. Key trends projected for the forecast period comprise technological progressions, increasing demand in the construction sector, emphasis on sustainable practices, advances in coating technologies, and groundbreaking innovations in material composition.

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What Are the Drivers Transforming the Iron And Steel Pipe And Tube Market?
The anticipated growth in the iron and steel pipes and tubes market is attributable to the escalation in oil and gas production. The oil and gas sectors encompass the domain of hydrocarbon exploration, data gathering, developmental procedures, drilling and production activities, refining, distribution, and transportation phases. Iron and steel pipes and tubes find extensive use in the oil and gas industry for moving oil, gas, and various other liquids securely due to their tough constitution and ability to withstand severe temperatures without any risk of breakage or fissures. For example, the Energy Information Administration (EIA), an organization run by the US government, reported in March 2023 an upturn in oil and gas production from 99.4 million barrels per day (b/d) in 2022 to 100.9 million b/d in 2023. Consequently, this surge in oil and gas production is fuelling the growth of the iron and steel pipes and tubes market.

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What Long-Term Trends Will Define the Future of the Iron And Steel Pipe And Tube Market?
The surge in technology developments is a notable trend gaining ground in the iron and steel pipes and tubes market. Renowned companies operating in the sphere are focusing on the creation of novel products to bolster their market standing. For instance, Telaris, an Italy-based global producer and supplier of steel pipes, in October 2024, introduced Reliable Hydrogen Storage Systems under pressure. The move aimed to boost safety and efficiency in hydrogen applications. The cutting-edge systems use sophisticated steel alloys to ensure robustness and longevity while tackling issues like hydrogen brittleness and corrosion resistance. This aligns with the growing traction for renewable energy solutions, fostering the hydrogen economy by offering sturdy storage solutions that can withstand demanding conditions of high-pressure environments.

Which Segments in the Iron And Steel Pipe And Tube Market Offer the Most Profit Potential?
The iron and steel pipe and tube market covered in this report is segmented -

1) By Type: Seamless Pipes And Tubes, Welded Pipes And Tubes
2) By Material: Steel And Alloys, Cooper And Alloys, Aluminum And Magnesium Alloys, Nickel And Alloys, Other Materials
3) By End-Users: Oil And Gas, Power Generation, Automotive, Aviation, Construction, Process Industry, Other End Users

Subsegments:
1) By Seamless Pipes And Tubes: Carbon Steel Seamless Pipes, Alloy Steel Seamless Pipes, Stainless Steel Seamless Pipes, Other Seamless Pipes
2) By Welded Pipes And Tubes: Electric Resistance Welded (ERW) Pipes, Longitudinally Welded Pipes, Spiral Welded Pipes, Submerged Arc Welded (SAW) Pipes, Other Welded Pipes

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Which Firms Dominate the Iron And Steel Pipe And Tube Market by Market Share and Revenue in 2025?
Major companies operating in the iron and steel pipe and tube market include Nippon Steel Corporation, US Steel Tubular Products Inc., Sandvik AB, Zaffertec SL, ArcelorMittal SA, United Metallurgical Company JSC, Samuel Associated Tube Group, Tubos Reunidos SA, Sumitomo Corporation, ChelPipe Group, Wheatland Tube Company, Aaditya Stainless Pvt. Ltd., Anand Seamless Tubes Pvt. Ltd., Bhuwalka Pipes, American Cast Iron Pipe Company, Ansteel Group Corporation Limited, Baoshan Iron and Steel Co. Ltd., Baotou Iron and Steel Group Co. Ltd., Borusan Mannesmann Boru Sanayi ve Ticaret AS, China Baowu Steel Group Corp. Ltd., Choo Bee Metal Industries Berhad, Hebei Iron and Steel Group Co. Ltd., Hunan Standard Steel Co. Ltd., JFE Holdings Inc., Jiangsu Changbao Steel Tube Co. Ltd., Jindal Steel & Power Ltd., Maharashtra Seamless Limited, Mannesmann Stainless Tubes GmbH, Maruichi Steel Tube Ltd., Northwest Pipe Company, Nucor Corporation, Pohang Iron and Steel Company, Ratnamani Metals & Tubes Ltd., Shandong Iron and Steel Group Co. Ltd., Tata Steel Limited, Tenaris S.A., Tianjin Pipe (Group) Corporation, TMK Group, United States Steel Corporation, Vallourec S.A., Welspun Corp Limited

Which Regions Offer the Highest Growth Potential in the Iron And Steel Pipe And Tube Market?
Asia-Pacific was the largest region in the iron and steel pipes and tubes market in 2024. The regions covered in the iron and steel pipe and tube market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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