“In terms of value, the long steel market is projected to grow at a CAGR of 3.9% between 2020 and 2025.”
In terms of value, the long steel market size is estimated to be USD 527.0 billion in 2020 and projected to reach USD 636.7billion by 2025, at a CAGR of 3.9% from 2020 to 2025. Increasing construction and infrastructure activities, industrialization, and rising population levels are the major factors responsible for the growth of the long steel market. However, the recent outbreak of Covid-19 is expected to have a severe impact on the long steel market.
“The basic oxygen furnace segment is the projected to lead the long steel market during the forecast period.”
Based on process, the long steel market has been classified into basic oxygen furnace and electric arc furnace. The basic oxygen furnace segment is projected to account for the largest share of the market during the forecast period. This growth can be attributed to its advantages. BOF is adopted by large players in the long steel market.
“Rebar is the dominant product type which is expected to drive the market.”
Based on product type, the long steel market has been classified into rebar, merchant bar, wire rod, rail, and others. Among these, the rebar is projected to account for the largest share of the market during the forecast period. Rebar is mainly used as a reinforcement in steel to increase its tensile strength.
“The infrastructure industry is the major consumer of the long steel market.”
Based on end-use industry, the market has been classified into construction, infrastructure, and others. Other industries include automotive, hardware manufacturing, and machinery. Among these, the infrastructure segment accounted for the largest share in the long steel market in 2019 and is also expected to grow at the highest CAGR during the forecast period.
Growing infrastructure activities, coupled with increasing investments, is expected to drive the growth of the market. Investment in infrastructure includes highways, bridges, reservoirs, utilities, schools, airports, and stadiums.
“Asia Pacific is estimated to account for a major share of the market in 2020 and is projected to grow at the highest CAGR during the forecast period.”
Based on region, the long steel market is segregated into North America, Europe, Asia Pacific, Middle East & Africa, and South America. Among these, Asia Pacific is estimated to account for the largest share of the long steel market in 2020 and is also expected to grow at the highest CAGR during the forecast period. The growth can be attributed to the presence of various global steelmakers such as ArcelorMittal, Nippon Steel & Sumitomo Metal Corporation, Tata Steel, and POSCO Steel in the region. These companies have production bases majorly in China and India, due to the availability of domestic labor and raw materials at low-cost. The rapidly increasing population and urbanization are other factors expected to fuel the growth of the market.
Breakdown of primary interviews for the report on the long steel 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%, South America- 10%, and the Middle East & Africa – 5%
The leading long steel manufacturers profiled in this report are Arcelor Mittal (Germany), Gerdau S.A. (Brazil), Nippon Steel & Sumitomo Metal Corporation (Japan), POSCO (South Korea), and Nucor Corporation (US).
The report covers the long steel market based on process, product type, end-use industry, and region. This report aims at estimating the size and future growth potential of the long steel market across various segmentations. 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 long steel market, high-growth regions, and drivers, restraints, opportunities, and challenges in the market.
The report provides insights on the following pointers:
- Market Penetration: Comprehensive information on various processes (basic oxygen furnace and electric arc furnace) operated in the long steel market.
- Product Development/Innovation: A detailed insight into upcoming technologies for the manufacture of long steel, R&D activities, and new applications in various end-use industries in the market.
- Market Development: Comprehensive information about the lucrative and emerging markets. The report analyzes the markets for long steel across different regions.
- Market Diversification: Exhaustive information about new products, untapped geographies, recent developments, and investments in the long steel market.
- Competitive Assessment: In-depth assessment of strategies, products, and manufacturing capabilities of leading players in the long steel market.