Steel Market Size, Trends, Analysis, and Outlook By Product (Hot Rolled Steel, Cold Rolled Steel, Direct Rolled Steel, Tubes, Others), By End-User (Pre-Engineered Metal Buildings, Bridges, Industrial Structures), by Country, Segment, and Companies, 2024-2

Steel Market Size, Trends, Analysis, and Outlook By Product (Hot Rolled Steel, Cold Rolled Steel, Direct Rolled Steel, Tubes, Others), By End-User (Pre-Engineered Metal Buildings, Bridges, Industrial Structures), by Country, Segment, and Companies, 2024-2030

The global Steel market size is poised to register a 3.2% growth from $1042.3 Billion in 2024 to 1259.1 Billion in 2030, presenting significant growth prospects for companies operating in the industry. The Steel market study analyzes the study across By Product (Hot Rolled Steel, Cold Rolled Steel, Direct Rolled Steel, Tubes, Others), By End-User (Pre-Engineered Metal Buildings, Bridges, Industrial Structures).

The Steel Market encompasses the production, distribution, and consumption of steel, a versatile and widely used alloy of iron and carbon with varying amounts of other elements such as manganese, chromium, nickel, and molybdenum. Steel finds applications across diverse sectors, including construction, automotive, infrastructure, machinery, appliances, and packaging. The market for steel is influenced by factors such as economic growth, industrialization, urbanization, infrastructure development, and technological advancements. Key trends in the steel market include the adoption of advanced manufacturing technologies such as electric arc furnaces, continuous casting, and automation to enhance production efficiency, reduce energy consumption, and minimize environmental impact. Manufacturers are also focusing on product innovation, quality improvement, and sustainability initiatives to meet evolving customer requirements and regulatory standards. Additionally, there is growing demand for high-strength, lightweight, and corrosion-resistant steels in automotive, aerospace, and construction applications, as well as for advanced materials such as stainless steel, electrical steel, and alloy steel in specialized industries.

Steel Market Drivers, Trends, Opportunities, and Growth Opportunities

This comprehensive study delves into the latest trends and pressing challenges for industry players and investors. The Steel market research analyzes global market trends, key drivers, challenges, and opportunities. The "Future of Steel" survey report provides a market size outlook across types, applications, and other segments worldwide and by region. It offers data-driven insights and actionable recommendations for companies in the Steel industry.

Key market trends defining the global Steel demand in 2024 and Beyond

The industry remains an attractive hub for opportunities for both domestic and global vendors. As the market evolves, factors such as emerging market dynamics, demand from end-user sectors, a growing patient base, changes in consumption patterns, and widening distribution channels continue to play major roles.

Steel Market Segmentation- Industry Share, Market Size, and Outlook to 2030

The Steel industry comprises a wide range of segments and sub-segments. Rising demand for these product types and applications supports increased investments in niche segments. Leading companies plan to generate a large share of their future revenue growth from expanding into these niche segments. The report presents a market size outlook across segments, supporting Steel companies scaling up production in these sub-segments with a focus on emerging countries.

Key strategies adopted by companies within the Steel industry

Leading Steel companies are boosting investments to capitalize on untapped potential and future possibilities across niche market segments and surging demand conditions in key regions. Additionally, companies leverage advanced technologies to unlock opportunities and achieve operational excellence. The report details the key strategies adopted by the top 10 Steel companies.

Steel Market Study- Strategic Analysis Review

The Steel market research report dives deep into qualitative factors shaping the market, empowering you to make informed decisions. This includes:

• Industry Dynamics: Porter's Five Forces analysis to understand bargaining power, competitive rivalry, and threats that impact long-term strategy formulation.
• Strategic Insights: Provides valuable perspectives on key players and their approaches based on comprehensive strategy analysis.
• Internal Strengths and Weaknesses: Develop targeted strategies to leverage strengths, address weaknesses, and capitalize on market opportunities.
• Future Possibilities: Prepare for diverse outcomes with in-depth scenario analysis. Explore potential market disruptions, technology advancements, and economic changes.

Steel Market Size Outlook- Historic and Forecast Revenue in Three Cases

The Steel industry report provides a detailed analysis and outlook of revenue generated by companies from 2018 to 2023. With actual data for 2023, the report forecasts the market size outlook from 2024 to 2030 in three scenarios: low case, reference case, and high case.

Steel Country Analysis and Revenue Outlook to 2030

The report analyzes 22 countries worldwide, including key driving forces and market size outlook from 2021 to 2030. Additionally, it includes region analysis across Asia Pacific, Europe, the Middle East, Africa, North America, and South America. For each region, the market size outlook by segments is forecast for 2030.

North America Steel Market Size Outlook- Companies plan for focused investments in a changing environment

The US remains the market leader in North America, driven by a large consumer base, well-established providers, and strong infrastructure. Leading companies focus on new product launches in a changing environment. The US GDP is expected to grow from $28,781.1 Billion in 2024 to $36,621 Billion in 2030, driving demand for various Steel market segments. Similarly, strong market demand encourages Canadian Steel companies to invest in niche segments. Mexico's investment in technological advancements positions it for significant market expansion.

Europe Steel Market Size Outlook-Companies investing in assessing consumers, categories, competitors, and capabilities

The German industry remains the major market for companies in the European Steel industry with consumers in Germany, France, the UK, Spain, Italy, and others anticipated to register a steady demand throughout the forecast period, driving the overall market prospects. In addition, the proactive approach of vendors in identifying and leveraging new growth prospects positions the European Steel market for an upward trajectory, fostering both domestic and international interest. Leading brands operating in the industry are emphasizing effective marketing strategies, innovative product offerings, and a keen understanding of consumer preferences.

Asia Pacific Steel Market Size Outlook- an attractive hub for opportunities for both local and global companies

The increasing prevalence of indications, robust consumption expenditure, and increasing investments in infrastructure drive the demand for Steel in Asia Pacific. In particular, China, India, and South East Asian Steel markets present a compelling outlook for 2030, acting as a magnet for both domestic and multinational vendors seeking growth opportunities. Similarly, with a burgeoning population and a rising middle class, India offers a vast consumer market. Japanese and Korean companies are quickly aligning their strategies to navigate changes, explore new markets, and enhance their competitive edge. Our report utilizes in-depth interviews with industry experts and comprehensive data analysis to provide a comprehensive outlook of 6 major countries in the APAC region.

Latin America Steel Market Size Outlook- Continued urbanization and rising income levels

Rising income levels contribute to greater purchasing power among consumers, spurring consumption and creating opportunities for market expansion. Continued urbanization and rising income levels are expected to sustainably drive consumption growth in the medium to long term.

Middle East and Africa Steel Market Size Outlook- continues its upward trajectory across segments

Robust demand from Middle Eastern countries including Saudi Arabia, the UAE, Qatar, Kuwait, and other GCC countries supports the overall Middle East Steel market potential. Fueled by increasing consumption expenditure of individuals, growing population, and high prevalence across a few markets drives the demand for Steel.

Steel Market Company Profiles

The global Steel market is characterized by intense competitive conditions with leading companies opting for aggressive marketing to gain market shares. The report presents business descriptions, SWOT analysis, growth strategies, and financial profiles. Leading companies included in the study are ArcelorMittal S.A., Baosteel, Hyundai Steel Co. Ltd, JFE Steel Corp, Jiangsu Shagang Group Co. Ltd, NIPPON STEEL CORP, POSCO, Tata Steel Ltd, ThyssenKrupp AG.

Recent Steel Market Developments

The global Steel market study presents recent market news and developments including new product launches, mergers, acquisitions, expansions, product approvals, and other updates in the industry.

Steel Market Report Scope

Parameters: Revenue, Volume Price

Study Period: 2023 (Base Year); 2018- 2023 (Historic Period); 2024- 2030 (Forecast Period)

Currency: USD; (Upon request, can be provided in Euro, JPY, GBP, and other Local Currency)

Qualitative Analysis

• Pricing Analysis
• Value Chain Analysis
• SWOT Profile
• Market Dynamics- Trends, Drivers, Challenges
• Porter’s Five Forces Analysis
• Macroeconomic Impact Analysis
• Case Scenarios- Low, Base, High

Market Segmentation:
By Product
Hot Rolled Steel

Cold Rolled Steel

Direct Rolled Steel

Tubes

Others
By End-User
Pre-Engineered Metal Buildings

• Primary Members
• Secondary Members
• Roofs & Walls
• Panels

Bridges

Industrial Structures

Geographical Segmentation:

• North America (3 markets)
• Europe (6 markets)
• Asia Pacific (6 markets)
• Latin America (3 markets)
• Middle East Africa (5 markets)

Companies

ArcelorMittal S.A.

Baosteel

Hyundai Steel Co. Ltd

JFE Steel Corp

Jiangsu Shagang Group Co. Ltd

NIPPON STEEL CORP

POSCO

Tata Steel Ltd

ThyssenKrupp AG

Formats Available: Excel, PDF, and PPT