Steel Pipes Market Boom - USD 315.96 Billion in the Making by 2035

Market Outlook and Forecast

The global steel pipes market is entering a new era of sustained growth, propelled by infrastructure development, energy demand, and advancements in industrial manufacturing. In this section, we outline the market's growth trajectory, regional performance, and demand segmentation.

Based on recent market insights, the steel pipes market is estimated at USD 168.32 billion in 2025 and projected to reach USD 315.96 billion by 2035, representing a compound annual growth rate (CAGR) of approximately 6.5% from 2026 to 2035. This progression underscores the industry's steady evolution from traditional pipeline networks to advanced, high-performance tubular systems optimized for durability, efficiency, and sustainability.

Steel pipes continue to serve as critical arteries for modern economies - supporting oil & gas transport, construction, water management, and power generation. The transition toward low-emission energy, enhanced corrosion resistance, and digitized manufacturing is reshaping how steel pipes are designed, produced, and deployed.

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Regional Performance Highlights

The regional landscape of the steel pipes market presents a dynamic mix of mature and emerging economies - each driving growth from different demand perspectives.

North America continues to be one of the most mature markets for steel pipes, supported by a well-established energy sector and replacement demand in oil & gas infrastructure. The U.S. and Canada remain key consumers of both seamless and electric resistance welded (ERW) pipes for upstream and midstream applications. Infrastructure modernization projects, including natural gas transmission networks and offshore drilling expansions, further reinforce regional growth.

Europe, meanwhile, demonstrates stable demand supported by manufacturing, renewable energy projects, and industrial retrofits. Countries such as Germany, the U.K., and Italy are increasingly deploying stainless steel pipes in chemical processing and green hydrogen applications. Moreover, the European Green Deal and growing environmental regulations have accelerated investment in high-grade, corrosion-resistant steel materials.

Asia Pacific is projected to be the largest regional market, expected to account for 27% of the global market share by 2035. The region's dominance stems from rapid industrialization, population growth, and extensive infrastructure expansion across China, India, and Southeast Asia. Ongoing pipeline projects, refinery expansions, and construction booms in these economies will continue to anchor demand for both seamless and ERW pipes.

In short, regional momentum is defined by a balance between energy security (North America), industrial efficiency (Europe), and infrastructure expansion (Asia Pacific) - collectively creating a robust foundation for long-term market growth.

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Segment Demand and Use Cases

From a segmentation perspective, the steel pipes market is characterized by diverse applications across industries, each with unique technical requirements and operating conditions.

By application, the oil & gas segment dominates the global demand, holding around 32% share by 2035. This segment's reliance on seamless and ERW pipes for exploration, transportation, and refinery operations underscores the continuing relevance of steel in energy infrastructure. The resurgence of offshore drilling and LNG projects further contributes to the demand outlook.

By product type, electric resistance welded (ERW) pipes are expected to maintain a commanding position, representing nearly 52% of total market value by 2035. Their widespread use in construction, automotive, and water supply applications stems from their cost efficiency, ease of fabrication, and adaptability to large-scale projects.

Use-case analysis reveals a broad adoption pattern:

• Oil & Gas: Extensive usage in pipeline transport, casing, and refinery setups.

• Construction: Deployment in building frameworks, structural supports, and water supply systems.

• Power Generation: High-strength pipes used in thermal and nuclear plant installations.

• Automotive & Mechanical Engineering: Precision tubes for exhaust systems, hydraulics, and machinery components.

Overall, the steel pipes market remains anchored by industrial diversity - with ERW technology driving scalability, oil & gas providing consistent demand, and emerging sectors like renewable energy introducing new growth pathways.

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Top Market Trends

1. Shift Toward High-Performance and Corrosion-Resistant Materials

A major transformation is underway as manufacturers pivot toward high-strength, corrosion-resistant alloys designed for longer lifecycle performance. With increasing offshore exploration and chemical processing, the demand for stainless steel and duplex steel pipes has surged. For instance, several European steelmakers recently introduced low-carbon, high-durability pipes tailored for hydrogen transmission and renewable energy applications - signaling a shift from commodity-grade to performance-driven products.

2. Digitalization and Smart Manufacturing in Steel Pipe Production

The integration of Industry 4.0 technologies is revolutionizing how steel pipes are produced, inspected, and distributed. Leading manufacturers are deploying AI-based quality control systems, digital twins, and real-time production analytics to enhance yield and reduce downtime. For example, Tata Steel and Tenaris have adopted predictive maintenance and smart sensors across their production lines, resulting in improved process control and lower waste. Digital transformation not only boosts efficiency but also supports sustainability goals through energy optimization.

3. Sustainability and Green Steel Initiatives

The global steel industry is under pressure to decarbonize, and pipe producers are actively embracing the transition toward green steel. Innovations such as hydrogen-based direct reduction, electric arc furnaces (EAFs), and scraps recycling are being scaled up to minimize carbon emissions. Companies like ArcelorMittal and Nippon Steel are leading this movement, announcing multi-billion-dollar investments in low-emission steel production. As end-users in energy, construction, and utilities increasingly prioritize ESG compliance, sustainability is becoming a central theme in procurement decisions.

4. Expanding Infrastructure and Energy Transition Projects

Global infrastructure programs - from urban transit systems to renewable energy grids - are creating new opportunities for steel pipe manufacturers. The accelerating build-out of hydrogen pipelines, carbon capture networks, and district heating systems is expanding the application scope of steel pipes. Meanwhile, oil & gas remains resilient, with investments in pipeline modernization and LNG facilities sustaining volume demand. These intersecting trends position the steel pipe market at the center of the global energy transition.

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Recent Company Developments

The competitive landscape of the steel pipes market continues to evolve through mergers, capacity expansions, and technology-led collaborations. Below are ten recent developments from leading companies shaping the sector:

1. Nippon Steel Corporation - Announced major investments in hydrogen-based steelmaking technology and expanded production of seamless pipes for offshore energy applications.

2. Tenaris S.A. - In early 2025, the company launched its "Rig Direct 2.0" digital platform, enabling real-time pipe tracking and supply-chain integration for oilfield clients.

3. Tata Steel Limited - Expanded its Jamshedpur plant capacity to include electric resistance welded (ERW) pipes for renewable energy infrastructure.

4. Vallourec S.A. - Secured new contracts to supply premium tubular solutions for deepwater oil projects in Brazil, enhancing its footprint in the Latin American market.

5. ArcelorMittal - Partnered with Plug Power to develop low-carbon steel pipes for hydrogen transportation systems in Europe.

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These company-level initiatives highlight the industry's ongoing evolution - blending innovation, sustainability, and digital integration to meet the demands of next-generation infrastructure.

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