Global Iron Ore Market 2024-2028
The iron ore market is forecasted to grow by USD 57.5 bn during 2023-2028, accelerating at a CAGR of 3.2% during the forecast period. The report on the iron ore market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by upsurge in consumption of high-strength iron ore and steel, industrialization in developing countries, and growing demand from construction industry.
Technavio's iron ore market is segmented as below:
By Product
By Source
- Surface mining
- Underground mining
By Geographical Landscape
- APAC
- Europe
- South America
- North America
- Middle East and Africa
This study identifies the economic growth in china and india boosting demand for stainless steel as one of the prime reasons driving the iron ore market growth during the next few years. Also, increased penetration of steel in industrial applications and surge in consumption of cast iron products in renewable energy segment will lead to sizable demand in the market.
The report on the iron ore market covers the following areas:
- Iron ore market sizing
- Iron ore market forecast
- Iron ore market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading iron ore market vendors that include Anglo American plc, Ansteel Group Corp. Ltd., ArcelorMittal SA, Atlas Iron Pty Ltd., BCI Minerals Ltd., BHP Group plc, China Hanking Holdings Ltd., Cleveland Cliffs Inc., Eurasian Resources Group Sarl, Ferrexpo Plc, Fortescue Metals Group Ltd., GFG Alliance, KIOCL Ltd., Luossavaara Kiirunavaara AB, Metinvest BV, Mideast Integrated Steel Ltd., Mount Gibson Iron Ltd., NMDC Ltd., Rio Tinto Ltd., and Vale SA. Also, the iron ore market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.