Automotive Stainless Steel Tube Market To Reach $5.73 Billion By 2030

Automotive Stainless Steel Tube Market Growth & Trends

The global automotive stainless steel tube market size is expected to reach USD 5.73 billion by 2030, expanding at a CAGR of 4.5% from 2023 to 2030, according to a new report by Grand View Research, Inc. Growing automotive industry is projected to be the biggest driver of this market over the forecast period.

The market is segmented on the basis of product into welded and seamless. Advantages such as high strength, resistance to shocks due to collisions and high energy absorption capacity have increased the popularity of stainless steel tube in automotive applications.

Welded stainless steel tube was widely used in the automotive industry in 2015. These are readily available in the market and are less expensive than the seamless tube, making them popular among automobile manufacturers. Asia Pacific is projected to be the fastest-growing region over the forecast period.

In the automotive sector, where steel tubes are exposed to extreme temperatures and pressures, seamless products play an important role courtesy their high corrosion and heat resistant properties. These find applications in important automobile components such as fuel supply systems and gearboxes.

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Automotive Stainless Steel Tube Market Report Highlights

• Welded stainless steel tube is accounted for the largest revenue share of 93.3% in 2022. These are more readily available, which results in the minimum waiting period, consequently, making them cost-effective.

• The automotive stainless steel tube market was dominated by Asia Pacific in 2022 and is projected to witness the highest CAGR of 5.0% from 2023 to 2030 owing to presence of major automobile manufacturers such as Honda, Hyundai, Tata Motors, and Toyota Motors in the region

• Europe accounted for a revenue share of over 22.8% in 2022 and is expected to witness considerable growth on account of growing vehicle demand in Germany, Italy, and U.K.

Automotive Stainless Steel Tube Market Segmentation

Grand View Research has segmented the global automotive stainless steel tube market based on product, application, and region:

Automotive Stainless Steel Product Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• Welded Tube

• Seamless Tube

Automotive Stainless Steel Application Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• Passenger Cars

• Commercial Vehicles

• Other Modes of Transportation

Automotive Stainless Steel Regional Outlook (Volume, Kilo Tons; Revenue, USD Million, 2018 - 2030)

• North America

• U.S.

• Canada

• Mexico

• Europe

• Germany

• U.K.

• France

• Italy

• Spain

• Asia Pacific

• China

• India

• Japan

• South Korea

• Thailand

• Indonesia

• Malaysia

• Australia

• Latin America

• Brazil

• Middle East & Africa

List of Key Players in Automotive Stainless Steel Tube Market

• Sandvik AB

• NIPPON STEEL CORPORATION

• ArcelorMittal

• thyssenKrupp AG

• TUBACEX S.A.

• Handytube Corporation

• Plymouth Tube Company

• fischer Group of Companies

• Maxim Tubes Company Pvt. Ltd.

• JFE Steel Corporation

• ChelPipe

• Penn Stainless

• Bri-Steel Manufacturing

• Centravis