Global Steel Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Global Steel Market 2024 by Manufacturers, Regions, Type and Application, Forecast to 2030

Steel industry is one of the essential industries for the development of any community. In fact, it is really the base for numerous industries that could not have been established without steel industry. The European industrial revolution at the beginning of this century was actually founded on this industry. There are three basic routes to obtain finished steel products: (1) integrated steel production, (2) secondary processing, and (3) direct reduction.

Integrated steel production involves transforming coal to coke in coke ovens, while iron ore is sintered or belletized prior to being fed into the blast furnace (BF). The ore is reduced in the blast furnace to obtain hot metal containing some 4% carbon and smaller quantities of other alloying elements. Next the hot metal is converted to steel in the basic oxygen furnace (BOF). Then, it is continuously cast to obtain semi-finished products, such as blooms, bars or slabs. These semi-finished products are rolled to the finished shapes of bars, sheet, rail, H or I beams.

The secondary processing, often called minimills, starts with steel scrap which is melted in an electrical arc furnace (EAF). The molten steel produced is possibly treated in a ladle furnace and then continuously cast and finished in a rolling operation. Originally, minimills provided only lower grade products, especially reinforcing bars. But, they recently have been able to capture a growing segment of the steel market.

An alternative mode of steel production is the direct reduction method. In this method, production starts with high grade Iron ore pellets which are reduced with natural gas to sponge pellets. Then, the sponge iron pellets are fed into an electrical arc furnace. The resulting steel is continuously cast and rolled into a final shape.

According to our (Global Info Research) latest study, the global Steel market size was valued at US$ 1563790 million in 2023 and is forecast to a readjusted size of USD 1290780 million by 2030 with a CAGR of -2.7% during review period.

Global key players of steel include China Baowu Group, ArcelorMittal, Ansteel Group, Nippon Steel Corporation, etc. The top four players hold a share over 15%. Yhe global steel are mainly produced in China. Asia is the largest market, has a share about 68%, followed by Europe and North America, with share 12% and 10%, separately.

This report is a detailed and comprehensive analysis for global Steel market. Both quantitative and qualitative analyses are presented by manufacturers, by region & country, by Type and by Application. As the market is constantly changing, this report explores the competition, supply and demand trends, as well as key factors that contribute to its changing demands across many markets. Company profiles and product examples of selected competitors, along with market share estimates of some of the selected leaders for the year 2024, are provided.

Key Features:

Global Steel market size and forecasts, in consumption value ($ Million), sales quantity (K MT), and average selling prices (US$/MT), 2019-2030

Global Steel market size and forecasts by region and country, in consumption value ($ Million), sales quantity (K MT), and average selling prices (US$/MT), 2019-2030

Global Steel market size and forecasts, by Type and by Application, in consumption value ($ Million), sales quantity (K MT), and average selling prices (US$/MT), 2019-2030

Global Steel market shares of main players, shipments in revenue ($ Million), sales quantity (K MT), and ASP (US$/MT), 2019-2024

The Primary Objectives in This Report Are:

To determine the size of the total market opportunity of global and key countries

To assess the growth potential for Steel

To forecast future growth in each product and end-use market

To assess competitive factors affecting the marketplace

This report profiles key players in the global Steel market based on the following parameters - company overview, sales quantity, revenue, price, gross margin, product portfolio, geographical presence, and key developments. Key companies covered as a part of this study include China Baowu Group, ArcelorMittal, Ansteel Group, Nippon Steel Corporation, Shagang Group, POSCO, HBIS Group, Jianlong Group, Shougang Group, Tata Steel Group, etc.

This report also provides key insights about market drivers, restraints, opportunities, new product launches or approvals.

Market Segmentation

Steel market is split by Type and by Application. For the period 2019-2030, the growth among segments provides accurate calculations and forecasts for consumption value by Type, and by Application in terms of volume and value. This analysis can help you expand your business by targeting qualified niche markets.

Market segment by Type
Carbon Steel
Alloy Steel

Market segment by Application
Buildings and Infrastructure
Automotive
Transportation
Energy
Steel Packaging
Mechanical Equipment
Domestic Appliances
Metal Products
Others

Major players covered
China Baowu Group
ArcelorMittal
Ansteel Group
Nippon Steel Corporation
Shagang Group
POSCO
HBIS Group
Jianlong Group
Shougang Group
Tata Steel Group

Market segment by region, regional analysis covers

North America (United States, Canada, and Mexico)

Europe (Germany, France, United Kingdom, Russia, Italy, and Rest of Europe)

Asia-Pacific (China, Japan, Korea, India, Southeast Asia, and Australia)

South America (Brazil, Argentina, Colombia, and Rest of South America)

Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa, and Rest of Middle East & Africa)

The content of the study subjects, includes a total of 15 chapters:

Chapter 1, to describe Steel product scope, market overview, market estimation caveats and base year.

Chapter 2, to profile the top manufacturers of Steel, with price, sales quantity, revenue, and global market share of Steel from 2019 to 2024.

Chapter 3, the Steel competitive situation, sales quantity, revenue, and global market share of top manufacturers are analyzed emphatically by landscape contrast.

Chapter 4, the Steel breakdown data are shown at the regional level, to show the sales quantity, consumption value, and growth by regions, from 2019 to 2030.

Chapter 5 and 6, to segment the sales by Type and by Application, with sales market share and growth rate by Type, by Application, from 2019 to 2030.

Chapter 7, 8, 9, 10 and 11, to break the sales data at the country level, with sales quantity, consumption value, and market share for key countries in the world, from 2019 to 2024.and Steel market forecast, by regions, by Type, and by Application, with sales and revenue, from 2025 to 2030.

Chapter 12, market dynamics, drivers, restraints, trends, and Porters Five Forces analysis.

Chapter 13, the key raw materials and key suppliers, and industry chain of Steel.

Chapter 14 and 15, to describe Steel sales channel, distributors, customers, research findings and conclusion.