Industrial Tubes Market Share, Statistics, Drivers, Restraints, Opportunities and profiles of Key Players Report by 2024-2030

The Global Industrial Tubes Market size reached USD 627.68 billion in 2023 and is expected to reach USD 919.15 billion by 2030 Industrial Tubes, growing at a CAGR of 5.6 % during the forecast period.

Industrial Tubes come in a form of round, square, rectangular, and oval hollow sections that are used for pressure equipment, mechanical applications, and instrumentation systems. Industrial tubes are formed by two different methods: welded or seamless. Industrial tubes are commonly utilized in applications such as heat exchanger tubes, mechanical tubes, structural tubes, and hydraulic and instrumentation tubes.

The use of seamless steel coiled tubing in hydraulic and instrumentation systems substantially decreases leakage issues. Industrial tubes are widely utilized in process utilities for applications such as pipe tracing systems and coiled tubing. Industrial tubes are widely used in the automotive industry owing to their superior strength-to-weight ratio. Demand for lightweight components in the automotive sector is likely to fuel market revenue growth, as tube hydroforming is considered one of the enabling technologies for producing lightweight components.

Top Market players in the Industrial Tubes Market are aligning their operating models to the new normal by moving toward digitization of operations and adapting to emerging technologies in robotic automation and artificial intelligence. Mergers and acquisitions to gain new technologies, strengthen portfolios and leverage capabilities are expected to be significant strategies for top companies in the Industrial Tubes Market. Investing in R&D and technology to develop product lines would be the primary growth driver for the Industrial Tubes Market throughout the forecast period.To know about the Research Methodology :- Request Free Sample Report
Industrial Tubes Market Dynamics:
Increasing Demand for Cold-drawn Seamless Pipes in the Oil and Gas Sector

Seamless pipes are utilized in the oil and gas industry for a variety of purposes, including upstream activities, midstream operations, and the transportation and distribution of various fluids such as oil, gas, slurries, steam, and acids. The Oil and gas industry is a major consumer of cold-drawn seamless steel pipes and fluctuation in industry directly affect the growth of the Industrial Tubes Market. The United States, China, Japan, India, and Germany are the world's largest producers and consumers of oil and gas.

According to the US Energy Information Administration, crude production in the United States was at 11.7 million barrels per day in March 2022. The country is also the world's leading producer of oil. According to figures from the United States Energy Information Administration (2021), the United States accounted for 20% of world oil production in 2020. This development in the country's oil and gas industry is likely to drive the seamless steel pipes market in this region.

Cold-drawn seamless steel pipes hold huge potential in the global Industrial Tubes Market since they are used to transmit fluids such as oils and chemicals across end-use industries. The increasing demand for oil & gas to meet the needs of the growing population across oil & gas, infrastructure & construction, power generation, automotive sectors, and rapid urbanization are supporting market growth during the forecast period.

New Market Entrants Focusing on Product Quality and Operational Effectiveness

The Industrial tube manufacturing sector is highly competitive because of the existence of a significant number of manufacturers, including global giants as well as small and medium-sized businesses. Many new companies have entered the Industrial Tubes market, offering high-quality products and technology. Industrial tube manufacturers have a great opportunity to improve the way they operate by integrating technology, which will help them to boost operational effectiveness, customer satisfaction, inventory levels, and profit margin.

Emerging firms employ innovative heat treatment methods for steel production to address energy efficiency problems and customize product qualities. The industry provides a broad product portfolio to meet the requirements of a wide range of industries. As a result, a large number of market players focus on certain end-use sectors with a restricted product line.

Nippon Steel & Sumitomo Metal Corporation (Japan), Vallourec S.A. (France), Sandvik AB (Sweden), Tenaris (Luxembourg), and Tata Steel are among the main competitors in the worldwide industrial tubes market (India). These companies have adopted various organic as well as inorganic growth strategies recently to strengthen their position in the market. New product launches and supply contracts are among the key growth methods used by these industry leaders to improve their product portfolios and regional presence, as well as to fulfill the rising demand for industrial tubes from emerging regions.

Rising demand for industrial tubes in several industries to drive Industrial Tubes Market

Industrial tubes are utilized in a variety of sectors including automotive, chemical, oil and gas, and petrochemical. Key players in Industrial Tubes Market are using a broad spectrum of materials such as carbon steel and other steel alloys for manufacturing steel tubes for building machine structure and their components. The demand for industrial tubes is increasing due to their wide range of properties such as excellent chemical and corrosion resistance, high strength, high durability, formability, and weldability all over the world.

The growing energy and power production and the effective properties of industrial tubes such as low-temperature properties, outstanding strength, and productive characteristics offered by steel tubes are among the primary reasons expected to boost the market growth rate.

Furthermore, Electric welded resistant carbon steel tubes are used in automotive structural applications. The superior strength and low-temperature properties of steel tubes make them extremely useful in marine structures. As a result, increased worldwide shipbuilding activity, especially yacht and cruise ship construction, is likely to increase the total demand for industrial tubes during the forecast period.

Innovation in Industrial tubes

As per federal regulations, pipeline operators are required to conduct a visual check for leaks at least 26 times per year by walking, driving, or flying across their pipeline rights of way. Human eyes are probably the least effective way to find a leak and it is often manually intensive and time-consuming. As a result, operators are turning to sensors, smart instrumentation, analytical software, and other digital technologies to evaluate the real-time conditions in their pipeline networks, as well as the equipment that manages the flow of products inside them.

Smart devices are pushing out more information that is often too much for control systems or humans to handle. Artificial intelligence (AI) being embedded in equipment and Machine learning and cloud-based systems are taking a little bit of the responsibility of humans. Complete track and trace solutions ensure automatic traceability throughout the entire production process from the start to the final product.

Growing energy demands to boost Industrial Tubes Market

The demand for electricity around the world is rising, and the market for power plant components is becoming increasingly competitive. Many manufacturers are providing quality tubing for the power generation industry. Industrial tubing is used across the sectors in traditional fossil-fueled plants, nuclear plants as well as renewables and natural gas-fired plants. The demand for seamless tubes is rising due to increased demand in the energy industry, particularly in the Chinese market. This circumstance spurred significant investment in the discovery of new sources of oil and gas, as well as the construction of new power plants, notably in China. This development resulted in the situation on the global market of tubes for the transfer of energy fuels, particularly large tube tubes for boilers, heat exchangers, pipelines, and oil holdings.

The high cost of raw materials in some countries to hamper the market growth

Industrial tubes have a complicated production process and high manufacturing costs, which are expected to hamper the market growth. Wasted materials frequently reduce profits significantly due to the rising cost of steel workpieces. The complicated manufacturing process, as well as the precise ductility, microstructure, and strength strain that tubes must have, contributes to production time.

Manufacturers are also frequently required to change products to smooth out flaws and improve the surface finish quality. All of these factors raise the cost and difficulty of producing, fabricating, and machining industrial tubes hampering the market growth. In India, a two-month period of consistent increases in raw material prices led to a rise in steel prices in April 2022. Leading steel companies in India, such as JSW Steel, Arcelor Mittal Nippon Steel India, and Jindal Steel and Power, raised the price of the hot rolled coil by Rs 4000-5000 (USD 51.74-64.71) per tonne.
Industrial Tubes Market Segment Analysis:
Based on Type, the heat exchanger tube segment is expected to grow at a rapid pace during the forecast period. The increasing usage of AI to control heat exchangers and monitor systems is expected to drive the growth of this industry. These systems focus on heat treatment and the most efficient use of latent, high temperature, and sensible high temperatures from flue gas, resulting in a positive outlook for clean coal energy.

Rapid industrialization in the developing countries of Asia Pacific and rising investments in manufacturing, commercial, and industrial projects have contributed to the growth of the heat exchanger tube segment in the region. The increased penetration of the product in various end-use industries, including power generation, petrochemicals, chemicals, HVAC and refrigeration, and food and beverage are also expected to rise the growth of this segment.

the process pipes segment is expected to generate the most revenue throughout the forecast period. This is due to the increasing usage of process pipes. Process pipes convert liquids, chemicals, fuels, gases, and other raw materials into usable products. These pipes are simple and inexpensive to install, and they provide several environmental benefits.

Based on Material, Steel tubes dominate the industrial tubes industry due to their better mechanical properties, geometric tolerance, and weldability. Steel tubes are among the most widely used components in a variety of industrial sectors, including construction, mining, oil and gas, and manufacturing. Steel tubes are utilized in a variety of industrial processes such as transporting high-temperature fluids and gases, which is driving the growth of the market.

Steel industrial tubes are incredibly useful where lightweight, high load-bearing capacity structures with a low total weight are required. Material advancements for the manufacturing of industrial tubes, especially for offshore jacket structures are expected to drive the growth of the industrial tubes market.

Based on End-use, the automotive industry segment is expected to grow at a rapid rate throughout the forecast period due to the extensive uses in the vehicle sector. Tube hydroforming is recognized as one of the enabling technologies for manufacturing lightweight automotive components, which is driving the segment's revenue growth.

Based on Manufacturing, the Seamless tube segment has dominated the market in the future due to their significant penetration in oil and gas applications such as riser pipes, OCTG, subsea flow lines, heat exchanger tubes, and instrumentation tubes. Furthermore, the increased use of seamless tubes in the chemical sector is likely to drive market growth over the forecast period.
Industrial Tubes Market Regional Insights
The Asia-Pacific region dominated the worldwide Industrial Tubes market share in 2023 due to the growing manufacturing sector and the rapid rise of the construction industry. In Asia Pacific, growing industrialization and urbanization in countries like India and China, as well as increased usage of chemical products are driving market revenue growth. Over the past two decades, China's petrochemical sector has been characterized by "rapid investment and strong competition." More industrial technologies became available as the country progressed in the development of large facilities.

Due to increased public investment, emerging nations such as India are undergoing considerable development in the commercial infrastructure segment. With a strong demand outlook, the region is seeing a significant increase in automobile manufacturing capability. The combined effect of all of the aforementioned factors is expected to increase demand for industrial tubes in the Asia Pacific in the near future.

In North America, Industrial Tubes is expected to experience strong revenue growth throughout the forecast period. Due to the increased usage of seamless steel pipes in the automobile sector, the United States and Canada are among the region's largest revenue contributors. Seamless steel pipes are widely used in this sector for a variety of applications such as automobile exhaust systems, cylinder blocks, liquid storage cylinders, side door anti-collision bars, and high-strength fasteners, among others.

The Industrial Tubes Market report forecasts revenue growth at global, and country levels and provides an analysis of the latest industry trends in each of the sub-segments during the forecast period. MMR has segmented the global Industrial Tubes Market report based on Type, End-Use, and region. The report contains strategic profiling of top key players in the market, a wide-ranging analysis of their core competencies, and their strategies like new product launches, growths, agreements, joint ventures, partnerships, and acquisitions that apply to the businesses. Our team of analysts can also provide you with data in excel files and pivot tables or can assist you in creating presentations from the data sets available in the report.
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Industrial Tubes Market


Report Coverage
Details


Base Year:
2023
Forecast Period:
2024-2030


Historical Data:
2018 to 2023
Market Size in 2023:
US $ 627.68 Bn.


Forecast Period 2024 to 2030 CAGR:
5.6%
Market Size in 2030:
US $ 919.15 Bn.


 Segments Covered:
by Type
1. Process Pipes
2. Mechanical
3. Heat Exchanger
4. Structural


by Material
1. Steel
2. Non-Steel


by End-use
1. Oil & Gas and Petrochemical
2. Automotive
3. Chemical
4. Others


by Manufacturing
1. Seamless
2. Welded



Industrial Tubes Market, by Region
North America (United States, Canada and Mexico)
Europe (UK, France, Germany, Italy, Spain, Sweden, Austria, Turkey, Russia and Rest of Europe)
Asia Pacific (China, India, Japan, South Korea, Australia, ASEAN and Rest of APAC)
Middle East and Africa (South Africa, GCC, Egypt, Nigeria and Rest of ME&A)
South America (Brazil, Argentina, Columbia and Rest of South America)
Industrial Tubes Market, Key Players are
1. Eisenbau Krämer Gmbh (Germany)
2. Benteler (Germany)
3. Kme Germany Gmbh & Co Kg (Germany)
4. Wieland (Germany)
5. Accial Speciali Terni S.P.A. (Italy)
6. Vallourec S.A. (France)
7. Sandvik AB (Sweden)
8. Tenaris (Luxembourg)
9. Aperam (Luxembourg)
10. Tubacex (Spain)
11. Hutmen S.A. (Poland)
12. Macsteel (Netherlands)
13. Halcor (Greece)
14. Tata Steel (India)
15. Heavy Metals & Tubes Ltd. (India)
16. Ratnamani Metal & Tubes Ltd. (India)
17. Divine Tubes Pvt. Ltd (India)
18. Sanghvi Overseas (India)
19. Nippon Steel & Sumitomo Metal Corporation (Japan)
20. United States Steel Corporation (US)
21. Jindal Saw Ltd. (US)
22. Ssp Corporation (US)
23. Tubos Apolo (Brazil)

FAQs:

1. Who are the key players in the Industrial Tubes market?
Ans. Nippon Steel & Sumitomo Metal Corporation (NSSMC), Sandvik AB, Tenaris, Vallourec S.A., Tata Steel, and Aperam are some of the market players in the Industrial Tubes industry.

2. Which Type segment dominates the Industrial Tubes market?
Ans. The Heat Exchanger segment accounted for the largest share of the global Industrial Tubes market in 2023.

3. How big is the Industrial Tubes market?
Ans. The global Industrial Tubes market size reached USD 627.68 billion in 2023 and is expected to reach USD 919.15 billion by 2030 Industrial Tubes, growing at a CAGR of 5.6 % during the forecast period.

4. What are the key regions in the global Industrial Tubes market?
Ans. Based On the region, the market has been classified into North America, Europe, Asia Pacific, Middle, East and Africa, and Latin America. Asia dominates the global Industrial Tubes market.