Steel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028

Steel Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028


Market Overview:

The global steel market size reached US$ 907 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,077 Billion by 2028, exhibiting a growth rate (CAGR) of 2.8% during 2023-2028.

Steel is a hard, strong grey or bluish-grey alloy produced by combining vital ingredients with iron and various elements. It is commonly available in flat and long steel variants. It is manufactured by melting raw materials, such as coal, iron ore and lime in a blast furnace and removing impurities. Steel is commonly used for the manufacturing of utensils, electrical cable trays, machines crews and hinges. It enhances toughness, design flexibility, tensile strength, anti-corrosion properties and malleability and improves overall shelf life. In comparison to iron, steel can efficiently be designed and molded in various forms to offer enhanced shape with a wide range of dimensions and extreme purity. As a result, steel finds extensive application across various industries, such as automotive, manufacturing and construction.

Steel Market Trends:
Significant growth in the automotive industry across the globe is creating a positive outlook for the market. Steel is widely used in the production of automobile structures, such as doors, engines, trunk closures, braking systems, fuel tanks, gears steering and braking systems. In line with this, the increasing demand for flat steel by automobile manufacturers to enhance fuel efficiency and reduce the overall weight of the vehicles is favoring the market growth. Moreover, various technological advancements, such as the integration of artificial intelligence (AI) and the development of rolling and casting techniques that assist in improving steel production methods to create designs that are resistant to pressure, temperature and corrosion, are providing an impetus to the market growth. Additionally, the widespread product adoption in the construction industry due to its properties, including ductility and durability, thus making the buildings earthquake-resistant, is positively impacting the market growth. Other factors, including the increasing product demand for manufacturing military aircraft and extensive infrastructural developments across the globe, are anticipated to drive the market toward growth

Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global steel market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on type, product and application.

Breakup by Type:

Flat Steel
Long Steel

Breakup by Product:

Structural Steel
Prestressing Steel
Bright Steel
Welding Wire and Rod
Iron Steel Wire
Ropes
Braids

Breakup by Application:

Building and Construction
Electrical Appliances
Metal Products
Automotive
Transportation
Mechanical Equipment
Domestic Appliances

Breakup by Region:

North America
United States
Canada
Asia-Pacific
China
Japan
India
South Korea
Australia
Indonesia
Others
Europe
Germany
France
United Kingdom
Italy
Spain
Russia
Others
Latin America
Brazil
Mexico
Others
Middle East and Africa

Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players being ArcelorMittal S.A., EVRAZ plc, Gerdau S.A., Hyundai Steel Co. Ltd, JFE Steel Corporation (JFE Holdings Inc.), Jiangsu Shagang Group Co. Ltd, Nippon Steel Corporation, Nucor Corporation, Shougang Group Co. Ltd., Tata Steel Ltd. (Tata Group), thyssenkrupp AG and United States Steel Corporation.

Key Questions Answered in This Report

1. What was the size of the global steel market in 2022?
2. What is the expected growth rate of the global steel market during 2023-2028?
3. What are the key factors driving the global steel market?
4. What has been the impact of COVID-19 on the global steel market?
5. What is the breakup of the global steel market based on the type?
6. What is the breakup of the global steel market based on the product?
7. What is the breakup of the global steel market based on application?
8. What are the key regions in the global steel market?
9. Who are the key players/companies in the global steel market?


1 Preface
2 Scope and Methodology
2.1 Objectives of the Study
2.2 Stakeholders
2.3 Data Sources
2.3.1 Primary Sources
2.3.2 Secondary Sources
2.4 Market Estimation
2.4.1 Bottom-Up Approach
2.4.2 Top-Down Approach
2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
4.1 Overview
4.2 Key Industry Trends
5 Global Steel Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Type
6.1 Flat Steel
6.1.1 Market Trends
6.1.2 Market Forecast
6.2 Long Steel
6.2.1 Market Trends
6.2.2 Market Forecast
7 Market Breakup by Product
7.1 Structural Steel
7.1.1 Market Trends
7.1.2 Market Forecast
7.2 Prestressing Steel
7.2.1 Market Trends
7.2.2 Market Forecast
7.3 Bright Steel
7.3.1 Market Trends
7.3.2 Market Forecast
7.4 Welding Wire and Rod
7.4.1 Market Trends
7.4.2 Market Forecast
7.5 Iron Steel Wire
7.5.1 Market Trends
7.5.2 Market Forecast
7.6 Ropes
7.6.1 Market Trends
7.6.2 Market Forecast
7.7 Braids
7.7.1 Market Trends
7.7.2 Market Forecast
8 Market Breakup by Application
8.1 Building and Construction
8.1.1 Market Trends
8.1.2 Market Forecast
8.2 Electrical Appliances
8.2.1 Market Trends
8.2.2 Market Forecast
8.3 Metal Products
8.3.1 Market Trends
8.3.2 Market Forecast
8.4 Automotive
8.4.1 Market Trends
8.4.2 Market Forecast
8.5 Transportation
8.5.1 Market Trends
8.5.2 Market Forecast
8.6 Mechanical Equipment
8.6.1 Market Trends
8.6.2 Market Forecast
8.7 Domestic Appliances
8.7.1 Market Trends
8.7.2 Market Forecast
9 Market Breakup by Region
9.1 North America
9.1.1 United States
9.1.1.1 Market Trends
9.1.1.2 Market Forecast
9.1.2 Canada
9.1.2.1 Market Trends
9.1.2.2 Market Forecast
9.2 Asia-Pacific
9.2.1 China
9.2.1.1 Market Trends
9.2.1.2 Market Forecast
9.2.2 Japan
9.2.2.1 Market Trends
9.2.2.2 Market Forecast
9.2.3 India
9.2.3.1 Market Trends
9.2.3.2 Market Forecast
9.2.4 South Korea
9.2.4.1 Market Trends
9.2.4.2 Market Forecast
9.2.5 Australia
9.2.5.1 Market Trends
9.2.5.2 Market Forecast
9.2.6 Indonesia
9.2.6.1 Market Trends
9.2.6.2 Market Forecast
9.2.7 Others
9.2.7.1 Market Trends
9.2.7.2 Market Forecast
9.3 Europe
9.3.1 Germany
9.3.1.1 Market Trends
9.3.1.2 Market Forecast
9.3.2 France
9.3.2.1 Market Trends
9.3.2.2 Market Forecast
9.3.3 United Kingdom
9.3.3.1 Market Trends
9.3.3.2 Market Forecast
9.3.4 Italy
9.3.4.1 Market Trends
9.3.4.2 Market Forecast
9.3.5 Spain
9.3.5.1 Market Trends
9.3.5.2 Market Forecast
9.3.6 Russia
9.3.6.1 Market Trends
9.3.6.2 Market Forecast
9.3.7 Others
9.3.7.1 Market Trends
9.3.7.2 Market Forecast
9.4 Latin America
9.4.1 Brazil
9.4.1.1 Market Trends
9.4.1.2 Market Forecast
9.4.2 Mexico
9.4.2.1 Market Trends
9.4.2.2 Market Forecast
9.4.3 Others
9.4.3.1 Market Trends
9.4.3.2 Market Forecast
9.5 Middle East and Africa
9.5.1 Market Trends
9.5.2 Market Breakup by Country
9.5.3 Market Forecast
10 SWOT Analysis
10.1 Overview
10.2 Strengths
10.3 Weaknesses
10.4 Opportunities
10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
12.1 Overview
12.2 Bargaining Power of Buyers
12.3 Bargaining Power of Suppliers
12.4 Degree of Competition
12.5 Threat of New Entrants
12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Key Players
14.3 Profiles of Key Players
14.3.1 ArcelorMittal S.A.
14.3.1.1 Company Overview
14.3.1.2 Product Portfolio
14.3.1.3 Financials
14.3.1.4 SWOT Analysis
14.3.2 EVRAZ plc
14.3.2.1 Company Overview
14.3.2.2 Product Portfolio
14.3.2.3 Financials
14.3.2.4 SWOT Analysis
14.3.3 Gerdau S.A.
14.3.3.1 Company Overview
14.3.3.2 Product Portfolio
14.3.3.3 Financials
14.3.4 Hyundai Steel Co. Ltd
14.3.4.1 Company Overview
14.3.4.2 Product Portfolio
14.3.4.3 Financials
14.3.5 JFE Steel Corporation (JFE Holdings Inc.)
14.3.5.1 Company Overview
14.3.5.2 Product Portfolio
14.3.6 Jiangsu Shagang Group Co. Ltd
14.3.6.1 Company Overview
14.3.6.2 Product Portfolio
14.3.7 Nippon Steel Corporation
14.3.7.1 Company Overview
14.3.7.2 Product Portfolio
14.3.7.3 Financials
14.3.7.4 SWOT Analysis
14.3.8 Nucor Corporation
14.3.8.1 Company Overview
14.3.8.2 Product Portfolio
14.3.8.3 Financials
14.3.8.4 SWOT Analysis
14.3.9 Shougang Group Co. Ltd.
14.3.9.1 Company Overview
14.3.9.2 Product Portfolio
14.3.10 Tata Steel Ltd. (Tata Group)
14.3.10.1 Company Overview
14.3.10.2 Product Portfolio
14.3.10.3 Financials
14.3.10.4 SWOT Analysis
14.3.11 thyssenkrupp AG
14.3.11.1 Company Overview
14.3.11.2 Product Portfolio
14.3.11.3 Financials
14.3.11.4 SWOT Analysis
14.3.12 United States Steel Corporation
14.3.12.1 Company Overview
14.3.12.2 Product Portfolio
14.3.12.3 Financials
14.3.12.4 SWOT Analysis

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