Steel Tube, Pipe & Related Fitting Manufacturing in the UK - Market Research Report (2014-2029)
London, United Kingdom
Last Updated: May 2024
SIC C24.200Revenue
£1.7bn
Past 5-Year Growth
Profit
£XX.Xm
Employees
8,319
Businesses
356
Wages
£XXX.Xm
Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry analysis
The Steel Tube, Pipe and Related Fitting Manufacturing industry has been affected by high volatility in global markets. British oil and gas stocks are sinking, with only hard-to-reach reserves remaining untapped. Even during times of successful exploration, volatile global oil prices have reduced incentive for production. Ballooning energy prices caused by the Russia-Ukraine conflict have eaten away at industry profitability as the manufacture of steel products is energy intensive, creating large utility expenses. These factors have dampened steel tube sales, with revenue expected to contract at a compound annual rate of 0.6% over the five years through 2024-25 to £1.7 billion.
Trends and Insights
- The UK government is financing a greener future for steel manufacturing. The Government is investing £500 million to help Tata Steel transition from a coal-powered plant to an Electric Arc Furnace, significantly reducing carbon emissions.
- EU regulation modifications the steel trade from Britain to Northern Ireland. This change enhances trading conditions, potentially boosting exports and revenue for manufacturers.
- Yorkshire's strong trade connections boost its export industry. Its excellent shipping links with northern Europe, especially to major markets like Germany and the Netherlands, make it an ideal location for manufacturers reliant on imports and exports.
- Big manufacturers utilise economies of scale to dominate markets. Through consolidation, they enlarge operations, bag hefty contracts, and consequently, capture more market share.
Industry Overview
Market size and recent performance (2014-2029)
Industry revenue has grown at a CAGR of 1.3 % over the past five years, to reach an estimated £1.7bn in 2024.
Trends and Insights
Soaring oil and gas prices support sales, although weak economic conditions are an issue
- During 2021-22, the industry recovered, as the broader economy stabilised and uncertainty dissipated after the COVID-19 outbreak.
- Additional trends and insights available with purchase
Source: IBISWorld
Industry outlook (2024-2029)
Market size is projected to grow over the next five years.
Trends and Insights
Bans to hydraulic fracking damage demand for pipes
- Fracking involves pumping pressurised water and chemicals into the ground to cause fractures, providing access to previously inaccessible shale gas and oil reserves.
Biggest companies in the Steel Tube, Pipe & Related Fitting Manufacturing in the UK
| Company | Market Share (%)
2025 | Revenue (£m)
2025 |
|---|---|---|
Tata Steel UK Ltd | 221.5 | |
Howco Group plc | 44.6 | |
Vallourec Oil & Gas UK Ltd | 16.1 |
To view the market share and analysis for all 3 top companies in this industry, view purchase options.
Products & Services Segmentation
Source: IBISWorld
Industry revenue is measured across several distinct product and services lines, including Oil country tubular goods, Structural steel tubes and construction-grade piping and Mechanical pipes and structural tubing. Oil country tubular goods is the largest segment of the Steel Tube, Pipe & Related Fitting Manufacturing in the UK.
Trends and Insights
Structural steel tubes and construction-grade piping depend on construction activity
- Steel tubing is used in construction to encase and protect underground wires. Steel piping and fixtures are also used for a range of plumbing applications.
- More insights available in the full report
Widen you competitive advantage with related industries
Competitors
- There are no industries to display.
Complementors
- Iron & Steel Manufacturing in the UK
- Basic Steel Processing in the UK
- Steel Casting in the UK
International industries
- Metal Pipe & Tube Manufacturing in the US
- Metal Pipe & Tube Manufacturing in Canada
- Steel Pipe and Tube Manufacturing in Australia
- Iron & Steel Casting in China
Table of Contents
About this industry
Industry definition
Industry companies primarily manufacture seamless or welded steel pipes and tubes or ferrous metal pipe and tube fittings. Companies also manufacture butt-welding fittings, such as elbows and reductions, by forging hot-rolled seamless tubes of steel.
What's included in this industry?
Oil country tubular goodsStructural steel tubes and construction-grade pipingMechanical pipes and structural tubingElbows and butt weldsCompanies
Tata Steel UK LtdHowco Group plcVallourec Oil & Gas UK LtdPurchase this report to view all 3 major companies in this industry.
Related Terms
PRECISION TUBESHYDRAULIC FRACTURING (FRACKING)OIL COUNTRY TUBULAR GOODS (OCTG)ASPIRATION SYSTEMIndustry Code
SIC 24.20 - Steel Tube, Pipe & Related Fitting Manufacturing in the UK
Performance
Get an indication of the industry's health through historical, current and forward-looking trends in the performance indicators that make or break businesses.
Analyst insights
The UK government is financing a greener future for steel manufacturing. The Government is investing £500 million to help Tata Steel transition from a coal-powered plant to a...
In this chapter (4)
- Current Performance
- Outlook
- Volatility
- Life Cycle
Key metrics
- Annual Revenue, Recent Growth, Forecast, Revenue Volatility
- Number of Employees, Recent Growth, Forecast, Employees per Business, Revenue per Employee
- Number of Businesses, Recent Growth, Forecast, Employees per Business, Revenue per Business
- Total Profit, Profit Margin, Profit per Business
Charts
- Revenue, including historical (2014-2023) and forecast (2024-2029)
- Employees, including historical (2014-2023) and forecast (2024-2029)
- Businesses, including historical (2014-2023) and forecast (2024-2029)
- Profit, including historical (2014-2024)
- Industry Volatility vs. Revenue Growth
- Industry Life Cycle
Detailed analysis
- Trends in supply, demand and current events that are driving current industry performance
- Expected trends, economic factors and ongoing events that drive the industry's outlook
- Key success factors for businesses to overcome volatility
- How contribution to GDP, industry saturation, innovation, consolidation, and technology and systems influence the industry's life cycle phase.
Products and Markets
Learn about an industry's products and services, markets and trends in international trade.
Analyst insight
EU regulation modifications the steel trade from Britain to Northern Ireland. This change enhances trading conditions, potentially boosting exports and revenue for manufactur...
In this chapter
- Products & Services
- Major Markets
- International Trade
Key metrics
- Largest market segment and value in 2024
- Product innovation level
- Total imports, level and trend
- Total exports, level and trend
- Trade Balance
Charts
- Products & services segmentation in 2024
- Major market segmentation in 2024
- International trade, including imports by country and exports by country
Detailed analysis
- Trends impacting the recent performance of the industry's various segments
- Innovations in the industry's product or service offering, specialization or delivery method
- Key factors that successful businesses consider in their offerings
- Buying segments and key trends influencing demand for industry products and services
- Recent trends in import and export volumes, country of origin or destination, and expected future trends
Geographic Breakdown
Discover where business activity is most concentrated in an industry and the factors driving these trends to find opportunities and conduct regional benchmarking.
Analyst insights
Yorkshire's strong trade connections boost its export industry. Its excellent shipping links with northern Europe, especially to major markets like Germany and the Netherland...
In this chapter (1)
- Business Locations
Charts
- Share of revenue, establishment, wages and employment in each region
- Share of population compared to establishments in each region in 2024
Tables
- Number and share of establishments in each region in 2024
- Number and share of revenue each region accounts for in 2024
- Number and share of wages each region accounts for in 2024
- Number and share of employees in each region in 2024
Detailed analysis
- Geographic spread of the industry across Europe, and trends associated with changes in the business landscape
- Key success factors for businesses to use location to their advantage
Competitive Forces
Get data and insights on what's driving competition in an industry and the challenges industry operators and new entrants may face, with analysis built around Porter's Five Forces framework.
Analyst insights
Big manufacturers utilise economies of scale to dominate markets. Through consolidation, they enlarge operations, bag hefty contracts, and consequently, capture more market s...
In this chapter (4)
- Concentration
- Barriers to Entry
- Substitutes
- Buyer & Supplier Analysis
Key metrics
- Industry concentration level
- Industry competition level and trend
- Barriers to entry level and trend
- Substitutes level and trend
- Buyer power level and trend
- Supplier power level and trend
Charts
- Market share concentration among the top 4 suppliers from 2019-2024
- Supply chain including upstream supplying industries and downstream buying industries, flow chart
Detailed analysis
- Factors impacting the industry’s level of concentration, such as business distribution, new entrants, or merger and acquisition activity.
- Key success factors for businesses to manage the competitive environment of the industry.
- Challenges that potential industry entrants face such as legal, start-up costs, differentiation, labor/capital intensity and capital expenses.
- Key success factors for potential entrants to overcome barriers to entry.
- Competitive threats from potential substitutes for the industry’s own products and services.
- Key success factors for how successful businesses can compete with substitutes.
- Advantages that buyers have to keep favorable purchasing conditions.
- Advantages that suppliers have to maintain favorable selling conditions.
- Key success factors for how businesses can navigate buyer and supplier power.
Companies
Learn about the performance of the top companies in the industry.
Analyst insights
TSUK's shift to greener steelmaking gets a £500 million UK government grant. This decisive move potentially preserves 5,000 jobs, marking a significant investment in transiti...
In this chapter
- Market Share Concentration
- Companies
- Company Spotlights
Charts
- Industry market share by company in 2020 through 2024
- Major companies in the industry, including market share, revenue, profit and profit margin in 2024
- Overview of Tata Steel UK Ltd's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Howco Group plc's performance by revenue, market share and profit margin from 2018 through 2024
- Overview of Vallourec Oil & Gas UK Ltd 's performance by revenue, market share and profit margin from 2018 through 2024
Detailed analysis
- Description and key data for Tata Steel UK Ltd, and factors influencing its performance in the industry
- Description and key data for Howco Group plc, and factors influencing its performance in the industry
- Description and key data for Vallourec Oil & Gas UK Ltd , and factors influencing its performance in the industry
External Environment
Understand the demographic, economic and regulatory factors that shape how businesses in an industry perform.
Analyst insights
The UK government pledges to reduce the steel industry's energy costs. These costs will be aligned with those in the world's major economies starting from 2024-25 through the...
In this chapter
- External Drivers
- Regulation & Policy
- Assistance
Key metrics
- Regulation & policy level and trend
- Assistance level and trend
Charts
- Regulation & Policy historical data and forecast (2014-2029)
- Assistance historical data and forecast (2014-2029)
Detailed analysis
- Demographic and macroeconomic factors influencing the industry, including Regulation & Policy and Assistance
- Major types of regulations, regulatory bodies, industry standards or specific regulations impacting requirements for industry operators
- Key governmental and non-governmental groups or policies that may provide some relief for industry operators.
Financial Benchmarks
View average costs for industry operators and compare financial data against an industry's financial benchmarks over time.
Analyst insights
Manufacturers including Vallourec Oil slash wage costs through automation. By deploying innovative "additive manufacturing" and robots, they aim to counteract competition fro...
In this chapter
- Cost Structure
- Financial Ratios
- Key Ratios
Key metrics
- Profit margin, and how it compares to the sector-wide margin
- Average wages, and how it compares to the sector-wide average wage
- Largest cost component as a percentage of revenue
- Industry average ratios for days' receivables, industry coverage and debt-to-net-worth ratio
Charts
- Average industry operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Average sector operating costs as a share of revenue, including purchases, wages, depreciation, utilities, rent, other costs and profit in 2024
- Investment vs. share of economy
Data tables
- Liquidity Ratios (2018-2022)
- Coverage Ratios (2018-2022)
- Leverage Ratios (2018-2022)
- Operating Ratios (2018-2022)
- Assets (2018-2022)
- Liabilities (2018-2022)
- Cash Flow & Debt Service Ratios (2014-2029)
- Revenue per Employee (2014-2029)
- Revenue per Enterprise (2014-2029)
- Employees per Establishment (2014-2029)
- Employees per Enterprise (2014-2029)
- Average Wage (2014-2029)
- Wages/Revenue (2014-2029)
- Establishments per Enterprise (2014-2029)
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
Detailed analysis
- Trends in the cost component for industry operators and their impact on industry costs and profitability
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
How are IBISWorld reports created?
IBISWorld has been a leading provider of trusted industry research for over 50 years to the most successful companies worldwide. With offices in Australia, the United States, the United Kingdom, Germany and China, we are proud to have local teams of analysts that conduct research, data analysis and forecasting to produce data-driven industry reports.
Our analysts start with official, verified and publicly available sources of data to build the most accurate picture of each industry. Analysts then leverage their expertise and knowledge of the local markets to synthesize trends into digestible content for IBISWorld readers. Finally, each report is reviewed by one of IBISWorld’s editors, who provide quality assurance to ensure accuracy and readability.
IBISWorld relies on human-verified data and human-written analysis to compile each standard industry report. We do not use generative AI tools to write insights, although members can choose to leverage AI-based tools within the platform to generate additional analysis formats.
What data sources do IBISWorld analysts use?
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and our own proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
Key data sources in the UK include:
- Office for National Statistics
- Office for Budget Responsibility
- Bank of England
Analysts also use industry specific sources to complement catch-all sources, although their perspective may focus on a particular organization or representative body, rather than a clear overview of all industry operations. However, when balanced against other perspectives, industry-specific sources provide insights into industry trends.
These sources include:
- Industry and trade associations
- Industry federations or regulators
- Major industry players annual or quarterly filings
Finally, IBISWorld’s global data scientists maintain a proprietary database of macroeconomic and demand drivers, which our analysts use to help inform industry data and trends. They also maintain a database of statistics and analysis on thousands of industries, which has been built over our more than 50-year history and offers comprehensive insights into long-term trends.
How does IBISWorld forecast its data?
IBISWorld’s analysts and data scientists use the sources above to create forecasts for our proprietary datasets and industry statistics. Depending on the dataset, they may use regression analysis, multivariate analysis, time-series analysis or exponential smoothing techniques to project future data for the industry or driver. Additionally, analysts will leverage their local knowledge of industry operating and regulatory conditions to impart their best judgment on the forecast model.
IBISWorld prides itself on being a trusted, independent source of data, with over 50 years of experience building and maintaining rich datasets and forecasting tools. We are proud to be the keystone source of industry information for thousands of companies across the world.
Learn more about our methodology and data sourcing on the Help Center.
Frequently Asked Questions
Unlock comprehensive answers and precise data upon purchase. View purchase options.
What is the market size of the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in United Kingdom in 2024?
The market size of the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in United Kingdom is £1.7bn in 2024.
How many businesses are there in the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in 2024?
There are 356 businesses in the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in United Kingdom, which has grown at a CAGR of 1.8 % between 2019 and 2024.
Has the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in United Kingdom grown or declined over the past 5 years?
The market size of the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in United Kingdom has been growing at a CAGR of 1.3 % between 2019 and 2024.
What is the forecast growth of the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in United Kingdom over the next 5 years?
Over the next five years, the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in United Kingdom is expected to grow.
What are the biggest companies in the Steel Tube, Pipe & Related Fitting Manufacturing in the UK market in United Kingdom?
The biggest companies operating in the Steel Tube, Pipe & Related Fitting Manufacturing market in United Kingdom are Tata Steel UK Ltd, Howco Group plc and Vallourec Oil & Gas UK Ltd
What does the Steel Tube, Pipe & Related Fitting Manufacturing in the UK in United Kingdom include?
Oil country tubular goods and Structural steel tubes and construction-grade piping are part of the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry.
Which companies have the highest market share in the Steel Tube, Pipe & Related Fitting Manufacturing in the UK in United Kingdom?
The company holding the most market share in United Kingdom is Tata Steel UK Ltd.
How competitive is the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in United Kingdom?
The level of competition is high and steady in the Steel Tube, Pipe & Related Fitting Manufacturing in the UK industry in United Kingdom.
