The global steel tubes market is expected to grow at a CAGR of around 5% during 2019-2024. Steel tubes are tough, strong and durable metal tubes and are available in different shapes, including square, rectangular and round. The production process of these structures incorporates alloys of iron with various other elements such as carbon, tungsten, manganese, aluminum and titanium. Depending on their manufacturing process, there are two major types of steel tubes, namely, seamless and welded. Steel tubes have a higher manufacturing tolerance, which helps in improving their manufacturability and quality. Owing to their versatility, they are used in a range of industries including oil & gas, petrochemicals, infrastructure and construction, automotive, water treatment, etc.
Over the past few years, steel tubes have gained immense popularity in the oil and gas industry for transporting fluids and in the form of conveyor belt rollers, bearing casings, and casings for concrete pilings. Also, with a boom in shale gas drilling, steel tubing is being used for carrying chromium, which has led to a rise in their production. Apart from this, they are also used in heating, ventilation, and air conditioning (HVAC) and refrigeration equipments in the mechanical structure of heat exchangers, compressors and boiler pipelines. Moreover, there has been a rise in the demand for steel tubes in the automobile sector as they are reliable and possess optimal strength and corrosion resistance properties. These tubes also offer high energy absorption capacity, construction safety and resistance against collision shocks. These properties, in turn, have led to a boost in the overall consumption of steel tubes across the globe.
IMARC Group’s latest report provides a deep insight into the global steel tubes market covering all its essential aspects. This ranges from macro overview of the market to micro details of the industry performance, recent trends, key market drivers and challenges, SWOT analysis, Porter’s five forces analysis, value chain analysis, etc. This report is a must-read for entrepreneurs, investors, researchers, consultants, business strategists, and all those who have any kind of stake or are planning to foray into the steel tubes market in any manner.
The report has also analysed the competitive landscape of the market along with the profiles of the key players.
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