By:Openpr

According to the latest market research study published by P&S Intelligence, the Saudi Arabia steel pipes market is poised for substantial growth, with a projected market size of USD 2,446.1 million in 2024, expected to reach USD 3,413.1 million by 2030, reflecting a robust compound annual growth rate (CAGR) of 5.7% from 2024 to 2030. This growth is driven by the increasing demand from key industries, particularly oil and gas, as well as expanding infrastructure projects under the government's Vision 2030 initiative. Saudi Arabia's position as a global leader in oil production propels the need for high-quality steel pipes that meet the stringent requirements of the oil, gas, and petrochemical sectors.

In addition to oil and gas, steel pipes are integral in construction, water supply, and waste management industries, further contributing to market expansion. As the Kingdom of Saudi Arabia invests in its infrastructure, steel pipes are expected to see heightened demand, especially with large-scale projects such as smart cities, energy plants, and modernized water systems. The future of the market looks promising, fueled by both governmental plans and private investments aiming to diversify the economy and infrastructure.