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The global steel tubes market was valued at US$ 79.2 Billion in 2021.
We expect the global steel tubes market to exhibit a CAGR of 1.63% during 2022-2027.
The rising utilization of steel tubes across several industrial verticals, as they offer high energy absorption capacity, construction safety, and resistance against collision shocks, is primarily driving the global steel tubes market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent lockdown regulations across several nations resulting in the temporary closure of numerous manufacturing units for steel tubes.
Based on the product type, the global steel tubes market can be segmented into seamless steel tubes and welded steel tubes. Currently, seamless steel tubes hold the majority of the total market share.
Based on the material type, the global steel tubes market has been divided into carbon steel, stainless steel, alloy steel, and others. Among these, carbon steel currently exhibits a clear dominance in the market.
Based on the end use industry, the global steel tubes market can be categorized into oil and gas, petrochemicals, infrastructure and construction, automotive, water treatment and sewage, and others. Currently, the oil and gas industry accounts for the largest market share.
On a regional level, the market has been classified into Asia Pacific, Europe, North America, Middle East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
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