The content of this report will be updated with the latest scenarios based on the global COVID-19 Pandemic
The global steel rebar market is projected to grow at a CAGR of 4.4% between 2020 and 2025
The global steel rebar market size is estimated to be USD 198.7 billion in 2020 and is projected to reach USD 246.3 billion by 2025, at a CAGR of 4.4% from 2020 to 2025 Growing infrastructure activities in emerging nations and developed steel rebar industry in North America and Europe are key trends that are expected to shape the market for steel rebar in the near future.
Preference towards the use of higher grades of steel rebar for construction and infrastructure projects are some of the main factors to drive the demand for steel rebar over the forecast period. Also, the long-term impact of COVID-19 pandemic on the global economy, trade, travel and overall steel industry, the government efficiency of handling the crisis, the resulting economic downturn due to outbreak and recent fall in oil prices are some of the factors to limit the growth of steel rebar in the near future.
Steel rebar market is projected to reach USD 246.3 billion by 2025
Increasing consumption of steel rebar in infrastructure, housing, and industrial segments is driving the steel rebar market. The growing construction industry and construction projects are also fueling the growth of the steel rebar industry. However, global steel overcapacity and overproduction of steel rebar has led to an increase in steel dumping incidents. This, in turn, has resulted in several countries imposing anti-dumping duties on imports.
Infrastructure is the largest and fastest-growing segment in the steel rebar market
Modernization and maintenance of infrastructure projects have led to the growth of the infrastructure segment. Increasing investments in new infrastructure projects and maintenance of existing projects are contributing towards the steel rebar infrastructure market growth. The infrastructure segment accounted for the majority of the market share in 2019 and is expected to be the fastest-growing during the projected period. This sector includes all road, highway and bridge construction, sewage system, airport, and stadium projects. Increasing infrastructure investments at a global level are expected to augment the growth of the steel rebar market.
Asia Pacific is expected to lead the global steel rebar industry during the forecast period
Asia Pacific accounted for the majority of the global steel rebar market share in 2019, followed by the Middle East & Africa and Europe. China is one of the major producers and consumers of steel rebar in the Asia Pacific region. The rapidly growing construction industry in countries such as China and India has fueled the growth of the steel rebar industry.
Asia Pacific is also the fastest-growing region in the steel rebar market. Growing usage of steel rebar in infrastructure, housing, and industrial segments, growing economies & rising domestic consumption, and an increase in disposable incomes, are some of the major factors expected to drive the market. Although, fastest, the growth of the steel rebar market in Asia Pacific is expected to be limited and depends upon the aftereffects of COVID-19 pandemic and the efficiency with which the countries such as China and India recover from the same.
Breakdown of primary interviews for the report on the steel rebar market
- By Company Type – Tier 1 – 20 %, Tier 2 –45 %, and Tier 3 – 35 %
- By Designation – C-Level – 20 %, Director Level – 25 %, and Others – 55 %
- By Region –Europe- 50 %, North America – 20 %, Asia Pacific– 15 %, Latin America- 10 %, Middle East & Africa – 5 %
Major market players covered in the report are ArcelorMittal (Luxembourg), Gerdau S.A (Brazil), Nippon Steel & Sumitomo Metal Corporation (Japan), Posco SS Vina, Co. Ltd (Vietnam), Steel Authority of India Limited (India), Tata Steel Ltd. (India), Essar Steel (India), Mechel PAO (Russia), Nucor Corporation (U.S.), Sohar Steel LLC (Oman), Celsa Steel UK (U.K.), Ansteel Group (China), and Hyundai Steel (South Korea), among others.
The report covers the steel rebar market based on equipment, product, and region. This report aims at estimating the size and future growth potential of the steel rebar industry across various segmentation types. The report also includes an in-depth competitive analysis of the key market players, along with their profiles and key growth strategies.
Key Benefits of Buying the Report
From an insight perspective, this report focuses on various levels of analyses, which include industry analysis (industry trends) and company profiles. These insights together comprise and discuss the basic views on the competitive landscape, emerging and high-growth segments of the steel rebar industry, high-growth regions, and drivers, restraints, opportunities, and challenges in the steel rebar market.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on various types of construction equipment on a rental basis offered by top players operating in the steel rebar market.
- Product Development/Innovation: Detailed insights into upcoming steel rebar based on type & weight lifting capacity, R&D activities, and new applications in various end-use industries in the steel rebar market.
- Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for steel rebar across different regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the steel rebar market.
- Competitive Assessment: In-depth assessment of strategies, products, and fleet capabilities of leading players in the steel rebar market.