Global Steel Manufacturing Market 2023-2027
Technavio has been monitoring the steel manufacturing market and is forecast to grow by USD 369.6 bn during 2022-2027, accelerating at a CAGR of 4.02% during the forecast period. Our report on the steel manufacturing 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 steel, growing demand from construction industry, and corrosion resistance and excellent mechanical properties.
Technavio's steel manufacturing market is segmented as below:
By End-user
- Construction
- Machinery
- Automotive
- Metal products
- Others
By Type
By Geography
- APAC
- North America
- Europe
- Middle East and Africa
- South America
This study identifies the growing demand for steel and stainless steel scrap as one of the prime reasons driving the steel manufacturing market growth during the next few years. Also, the expansion of production capacity by vendors and increasing technological developments in steel production will lead to sizable demand in the market.
Technavio 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. Our report on the steel manufacturing market covers the following areas:
- Steel manufacturing market sizing
- Steel manufacturing market forecast
- Steel manufacturing market industry analysis
Technavio's 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 steel manufacturing market vendors that include Ansteel Group Corp. Ltd., Baosteel Group Corp., Beijing Shougang Co. Ltd., Benxi Steel Group Co. Ltd., China Jianlong Steel Industrial Co. Ltd., Gerdau SA, Hebei Jingye Group, Hyundai Steel Co., Jiangsu Shagang International Trade Co. Ltd., JSW STEEL Ltd., Nippon Steel Corp., Nucor Corp., POSCO holdings Inc., Steel Authority of India Ltd., Tata Sons Pvt. Ltd., thyssenkrupp AG, ArcelorMittal SA, Essar Global Fund Ltd., JFE Holdings Inc., and NLMK Group. Also, the steel manufacturing 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.
Technavio 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. Technavio's market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast accurate market growth.