Global Automotive Stainless Steel Tubes Market Expected to Reach $6.3 Billion by 2030, Driven by Rising Demand for Corrosion

Sep 25, 2023

Dublin, Sept. 28, 2023 (GLOBE NEWSWIRE) -- The "Automotive Stainless Steel Tubes - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.

The global market for Automotive Stainless Steel Tubes was estimated at approximately US$4.4 billion in 2022 and is projected to reach around US$6.3 billion by 2030, with a compound annual growth rate (CAGR) of 4.6% during the forecast period from 2022 to 2030.

Automotive stainless steel tubes are used in various applications within the automotive industry, including exhaust systems, brake lines, and fuel lines, due to their corrosion resistance and durability.

Segmentation by Product Type

Welded Segment: This segment is projected to record a CAGR of 4.5% during the forecast period, reaching a market size of US$5.5 billion by 2030. Welded stainless steel tubes are commonly used in automotive applications such as exhaust systems.

Seamless Segment: The seamless segment is estimated to grow at a higher CAGR of 5.2% over the next eight years. Seamless stainless steel tubes are known for their strength and are used in critical automotive applications like hydraulic lines and high-pressure fuel lines.

Regional Market Insights

United States: The Automotive Stainless Steel Tubes market in the United States was estimated at US$762.7 million in 2022. The U.S. market is expected to continue growing, driven by the need for high-quality and durable automotive components.

China: China is forecasted to experience significant growth in the Automotive Stainless Steel Tubes market, with a projected market size of US$1.2 billion by 2030. This growth is supported by the expansion of the automotive industry in the country.

Japan: Japan is expected to grow at a CAGR of 2.9% during the forecast period. Japanese automakers are known for their focus on quality, which drives the demand for stainless steel tubes in automotive applications.

Canada: Canada's market is projected to grow at a CAGR of 3.4%, reflecting the country's automotive manufacturing activities and the use of stainless steel tubes in various components.

Germany: In Europe, Germany is anticipated to grow at approximately 4.5% CAGR. The German automotive industry's emphasis on innovation and performance contributes to the demand for stainless steel tubes.

Key Market Players

Some of the key players in the global Automotive Stainless Steel Tubes market include:

ArcelorMittal

Centravis

Cleveland-Cliffs Inc.

CSM Tube spa

JFE Steel Corporation

Maxim Tubes Company Pvt. Ltd.

Nippon Steel Corporation

Outokumpu

Penn Stainless Products Inc.

Plymouth Tube Company

Posco Group Inc.

Salzgitter AG

Thyssenkrupp AG

Conclusion

The global Automotive Stainless Steel Tubes market is poised for steady growth, driven by the automotive industry's demand for corrosion-resistant and durable components. Welded and seamless stainless steel tubes find applications in critical automotive systems, including exhaust, brake, and fuel lines. The United States, China, Japan, Canada, and Germany are key markets contributing to this growth. The market also offers opportunities for innovation in materials and manufacturing processes to meet the automotive industry's evolving needs. This growth presents opportunities for both established players and newcomers in the industry.

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Key Topics Covered: I. METHODOLOGYII. EXECUTIVE SUMMARY1. MARKET OVERVIEW

2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS

Encouraging Outlook for Automobile Production Despite Disruptions, Bodes Well for Growth of Stainless Steel Tubes

Encouraging Recovery in Automobile Production, Notwithstanding the Many Challenges, Offers Hope for Players in the Value Chain Including Manufacturers of Auto Grade Stainless Steel Tubes: Global Light Vehicle Production (In Million Units) for Years 2019 through 2025

Growing EV Adoption, Production & Sales to Benefit Demand for Automotive Stainless Steel Tubes

Robust Sales of EVs Means Increased Application Possibilities for Automotive Grade Stainless Steel Tubes: Global Sales of EVs (In 000 Units) for Years 2023, 2025 and 2027

Innovations Ranging from Materials to Production to Spur Growth in the Market

Aging Vehicles & Increased Need for Replacing Exhaust Systems to Benefit Demand for Automotive Stainless Steel Tubes

Growing Age of Vehicles is Poised to Benefit Engine and Exhaust Parts Replacement Where Stainless Steel Tubes are Commonly Used: Average Age of Cars & Light Trucks in the United States (In Years) for the Years 1980, 1990, 2000, 2015, 2020, 2022 & 2023

Innovations in Corrosion Resistance of Automotive Stainless Steel Tubes to Spur Growth in the Market

Hydroformed Steel Tubes to Witness Strong Demand. Here's All You Need to Know

Austenitic Stainless Steel Hits the Spotlight in Automotive Applications

Thin Wall Mild Steel Tubing Grows in Popularity and Demand Among Auto OEMs

Amidst all the Clamor Around Climate Change & Sustainability, Green Steel Becomes a Hot Commodity

With Transport Emissions Continuing to Increase At a Rate Much Faster Than GDP Growth, Pressure Builds on the Automotive Industry for Charting a Roadmap for Achieving Sustainability: Carbon Footprint Forecasts for the Global Transport Industry (In Billion Metric Tons) for Years 2020, 2025, 2030, 2035, 2040, 2045 & 2050

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

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