The automotive industry is growing at a rapid pace globally. This is owing to the increase in demand for vehicles, rise in disposable incomes, and growth in the middle-class population. As a result, the automotive pipe market is also expanding.
In recent years, the automotive industry has experienced remarkable growth. In the years to come, this expansion is anticipated to continue, which is probably going to lead to a rise in demand for automobile pipes. Automotive pipes are used in a variety of applications, such as exhaust systems, fuel lines, and brakes.
During the forecast period, the automotive pipe market is anticipated to expand at a CAGR of about 5%. The rising demand for autos and other commercial vehicles is the main factor driving the industry.
The market for automotive pipes is anticipated to be dominated by passenger automobiles, followed by commercial vehicles. One of the main factors propelling the automotive pipe market is the rising demand for passenger automobiles in developing nations. During the projected period, passenger automobiles are anticipated to increase at the fastest rate.
The welded pipe segment is expected to be the largest type of automotive pipe, followed by seamless pipes. Welded pipes are used extensively in automotive applications due to their superior strength and resistance to corrosion. Seamless pipes are also used in some high-performance applications such as turbochargers and exhaust systems.
Some of the key players operating in the global automotive pipe market include Tenaris SA, TMK IPSCO, ArcelorMittal SA, Nippon Steel & Sumitomo Metal Corporation, JFE Holdings Inc., Vallourec SA, Hyundai Steel Company, ThyssenKrupp AG,
The automotive pipe is a type of pipe used in the automotive industry. It can be constructed from a variety of materials, including plastic, steel, and aluminium. The engine, transmission, and exhaust system are just a few examples of the components of a car that are connected by automotive pipes. It is also utilised to transport gases and liquids inside a vehicle. To meet the requirements of various vehicles, the automotive pipe is offered in a range of diameters and shapes.
The automotive pipe market is projected to reach USD 121.4 billion by 2031 from an estimated USD 74.2 billion in 2021, at a CAGR of 6.4% during the forecast period of 2021–2031.
The major drivers for the growth of this market include the increase in demand for automobiles, the rise in the production of vehicles, and stringent emission norms.
The restraining factors of the market include:
1) Stringent emission norms across the globe: Since automotive pipes are utilised in car exhaust systems, strict pollution regulations are predicted to impede market expansion. To lessen automotive pollution, different countries throughout the world have implemented strict emission standards. For instance, the Environmental Protection Agency (EPA) of the United States has established pollution regulations for motor vehicles. These standards are divided into two categories, light-duty vehicles (LDVs) and heavy-duty vehicles (HDVs).
2) High cost of raw materials: another factor restraining market growth is the high cost of raw materials required for manufacturing automotive pipes. Due to their exceptional qualities, such as corrosion resistance and high strength, stainless steel and titanium alloys are frequently utilised in the production of automotive pipes. However, these metals are very expensive which makes them unaffordable for many manufacturers.
3) Lack of skilled labour: lack of skilled labour is also hampering market growth as it increases production costs. Welding is a major process involved in automotive pipe manufacturing which requires highly skilled labour. The lack of skilled welders is leading to an increase in production costs and thereby restraining market growth.
The key players operating in the automotive pipe market are ArcelorMittal, Tenaris, JFE Holdings, Inc., TMK Group, Hyundai Steel Co., POSCO, Nippon Steel & Sumitomo Metal Corporation, and Tubos Reunidos.
Passenger Car segment forms major portion of the market
On the basis of application, the automotive pipe market has been divided into passenger cars and commercial vehicles. The passenger car segment is further sub-segmented into hatchbacks, sedans, SUVs, and MUVs. The commercial vehicle segment includes buses and trucks. The passenger car segment held the largest share of the automotive pipe market in 2016 and is expected to grow at a higher CAGR from 2017 to 2025. This growth can be ascribed to factors such as rapid economic development, growing population, and a rise in disposable incomes in developing countries such as China, India, Brazil, Mexico, South Korea, and Turkey.
To govern the market, weld the segment
During the projection period, the welded segment is predicted to develop at a greater CAGR than the seamless sector. The rising demand for lightweight and fuel-efficient vehicles is to blame for this expansion.
America will command the market.
The region of North America is anticipated to experience the greatest CAGR growth over the projection period. The increasing demand for cars and other commercial vehicles is to blame for the increase in this area. Additionally, the presence of significant automakers in this area is promoting market expansion.
Covid-19 Impact & Market Status
The outbreak of the COVID-19 pandemic has had a significant impact on the automotive industry, with production and sales of vehicles plummeting in many markets around the world. The automotive pipe market has also been affected, with demand for pipes used in vehicle manufacturing declining sharply. However, some regions have seen an increase in demand for automotive pipes, as manufacturers seek to reduce costs by sourcing pipes from lower-cost suppliers. The market is expected to recover from the pandemic-induced downturn over the next few years, as vehicle production and sales rebound.
The COVID-19 pandemic has had a major impact on the automotive industry globally, with vehicle production and sales plummeting in many markets around the world. This has led to a sharp decline in demand for automotive pipes, as factories have shut down or cut back production.
Latest Innovations in the Global Automotive Pipe Market: A Snapshot
In October 2018, Hyundai Steel announced its plans to invest KRW 1.6 trillion in its automobile steel business by 2025. The company anticipates that this expansion will enable a 30% increase in production capacity.
Automotive Pipe Market Scope
|Revenue forecast in 2031
|USD 121.4 billion
|CAGR of 6.4% during 2021-2031
|Type, Application, Regions
|North America, Europe, Asia Pacific, South America, Middle East and Africa
|Key Players Profiled
|ArcelorMittal, Tenaris, JFE Holdings, Inc., TMK Group, Hyundai Steel Co., POSCO, Nippon Steel & Sumitomo Metal Corporation, and Tubos Reunidos.
Key Segment of Global Automotive Pipe Market
By Type Overview (USD Billion)
By Application Overview (USD Billion)
- Passenger Cars
- Commercial Vehicles
By Region Overview (USD Billion)
- Rest of Asia Pacific
- Rest of North America
- Rest of Europe
Middle East and Africa