Product Code: GVR-1-68038-863-3
Steel Market Growth & Trends:
The global steel market size is expected to reach USD 2,009.46 billion by 2030, according to a new report by Grand View Research, Inc, expanding at a CAGR of 5.3% from 2024 to 2030. Rising need for sustainable, durable, and low cost materials in construction industry is aiding steel consumption in the increasing residential and commercial activities.
Long steel is a vital product segment of the market. Long steel products are widely used in the manufacturing of different components such as large machines, farm equipment, pipelines, bearings, springs, chains, ropes, cables, fencing, and wire mesh, among others. These find applications in various industries such as machine engineering, energy, automotive, and chemicals. Thus, increasing investments in the aforementioned industries are expected to increase the consumption of long steel products during the forecast period.
The Asia Pacific market displays high growth owing to exponential growth in developing countries of the region. Asia's real GDP growth was 5.0% in 2023 and is forecasted to grow by 4.5% and 4.3% in 2024 and 2025, respectively, according to IMF. Increasing manufacturing activities and surging foreign investments are the key drivers fueling the market growth in the region. The flourishing end-use industries such as automotive, electronics, machinery & equipment, and building & construction are aiding steel demand in Asia Pacific.
The competitive landscape of the global steel industry is evolving, with companies adapting to shifting economic and environmental priorities. Recent trends indicate a mix of consolidation, technological advancements, and sustainability initiatives shaping the competitive scenario. Establishment of new facilities to expand regional presence and customer reach is one of the key strategic initiatives opted by market players.
Steel Market Report Highlights:
- Based on product, flat steel held the largest revenue share of 52.0% in 2023. The growth in this segment is attributed to wide penetration of steel products in construction and other end use sectors
- Based on end use, automotive & aerospace segment is growing at a CAGR of 5.2% over the forecast period. Growing vehicle production is propelling steel demand
- Asia Pacific dominates the steel market and is anticipated to maintain its position over the forecast period owing to its large manufacturing base and high demand from end use industries
Table of Contents
Chapter 1. Methodology and Scope
- 1.1. Market Segmentation & Scope
- 1.2. Market Definition
- 1.3. Information Procurement
- 1.3.1. Information Analysis
- 1.3.2. Market Formulation & Data Visualization
- 1.3.3. Data Validation & Publishing
- 1.4. Research Scope and Assumptions
- 1.4.1. List of Data Sources
Chapter 2. Executive Summary
- 2.1. Market Snapshot
- 2.2. Segmental Outlook
- 2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
- 3.1. Global Steel Market Outlook
- 3.2. Value Chain Analysis
- 3.2.1. Raw Material Trends
- 3.2.2. Sales Channel Analysis
- 3.3. Manufacturing & Technology Overview
- 3.4. Regulatory Framework
- 3.5. Price Trend Analysis
- 3.6. Market Dynamics
- 3.6.1. Market Driver Analysis
- 3.6.2. Market Restraint Analysis
- 3.7. Industry Trends
- 3.7.1. ESG Trends
- 3.7.2. Trade Outlook
- 3.8. Porter's Five Forces Analysis
- 3.8.1. Bargaining Power of Suppliers
- 3.8.2. Bargaining Power of Buyers
- 3.8.3. Threat of Substitution
- 3.8.4. Threat of New Entrants
- 3.8.5. Competitive Rivalry
- 3.9. PESTLE Analysis
- 3.9.1. Political
- 3.9.2. Economic
- 3.9.3. Social Landscape
- 3.9.4. Technology
- 3.9.5. Environmental
- 3.9.6. Legal
Chapter 4. Steel Market: Product Estimates & Trend Analysis
- 4.1. Steel Market: Product Movement Analysis, 2023 & 2030
- 4.2. Flat
- 4.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 4.3. Long
- 4.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 5. Steel Market: End Use Estimates & Trend Analysis
- 5.1. Steel Market: End Use Movement Analysis, 2023 & 2030
- 5.2. Building & Construction
- 5.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.3. Automotive & Aerospace
- 5.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.4. Railways & Highways
- 5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 5.5. Others
- 5.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
Chapter 6. Steel Market: Regional Estimates & Trend Analysis
- 6.1. Regional Analysis, 2023 & 2030
- 6.2. North America
- 6.2.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4. U.S.
- 6.2.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5. Canada
- 6.2.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.6. Mexico
- 6.2.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.6.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.2.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.3. Europe
- 6.3.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.4. Germany
- 6.3.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.5. France
- 6.3.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.5.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.6. Italy
- 6.3.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.6.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.7. Russia
- 6.3.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.7.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.3.7.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.4. Asia Pacific
- 6.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.4. China
- 6.4.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.5. Japan
- 6.4.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.5.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.6. India
- 6.4.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.6.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.7. Indonesia
- 6.4.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.7.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.7.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.8. Philippines
- 6.4.8.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.8.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.8.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.9. Singapore
- 6.4.9.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.9.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.9.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.10. Thailand
- 6.4.10.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.10.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.10.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.11. Malaysia
- 6.4.11.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.11.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.4.11.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.5. Central & South America
- 6.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.4. Brazil
- 6.5.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.5.4.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.6. Middle East
- 6.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.3. Market estimates and forecasts, by end use, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.4. Bahrain
- 6.6.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.5. Kuwait
- 6.6.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.5.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.6. Oman
- 6.6.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.6.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.7. Qatar
- 6.6.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.7.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.7.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.8. Saudi Arabia
- 6.6.8.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.8.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.8.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.9. UAE
- 6.6.9.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.9.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.6.9.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.7. Africa
- 6.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.4. Ethiopia
- 6.7.4.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.4.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.4.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.5. Tanzania
- 6.7.5.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.5.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.5.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.6. Mozambique
- 6.7.6.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.6.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.6.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.7. Rwanda
- 6.7.7.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.7.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.7.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.8. Zimbabwe
- 6.7.8.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.8.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.8.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.9. Kenya
- 6.7.9.1. Market estimates and forecasts, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.9.2. Market estimates and forecasts, by product, 2018 - 2030 (Kilotons) (USD Million)
- 6.7.9.3. Market estimates and forecasts, by end-use, 2018 - 2030 (Kilotons) (USD Million)
Chapter 7. Competitive Landscape
- 7.1. Recent Developments, By Key Market Participants
- 7.2. Kraljic Matrix
- 7.3. Company Categorization
- 7.4. Heat Map Analysis
- 7.5. Company Market Ranking
- 7.6. Vendor Landscape
- 7.6.1. List of Raw Material Suppliers
- 7.6.2. List of Distributors
- 7.6.3. List of Other Prominent Manufacturers
- 7.7. List of Prospective End Users
- 7.8. Strategy Mapping
- 7.9. Company Profiles/Listing
- 7.9.1. ArcelorMittal
- 7.9.1.1. Company Overview
- 7.9.1.2. Financial Performance
- 7.9.1.3. Product Benchmarking
- 7.9.2. Baosteel Group
- 7.9.2.1. Company Overview
- 7.9.2.2. Financial Performance
- 7.9.2.3. Product Benchmarking
- 7.9.3. Emirates Steel
- 7.9.3.1. Company Overview
- 7.9.3.2. Financial Performance
- 7.9.3.3. Product Benchmarking
- 7.9.4. JFE Steel
- 7.9.4.1. Company Overview
- 7.9.4.2. Financial Performance
- 7.9.4.3. Product Benchmarking
- 7.9.5. Nippon Steel Corporation
- 7.9.5.1. Company Overview
- 7.9.5.2. Financial Performance
- 7.9.5.3. Product Benchmarking
- 7.9.6. NUCOR
- 7.9.6.1. Company Overview
- 7.9.6.2. Financial Performance
- 7.9.6.3. Product Benchmarking
- 7.9.7. Outokumpu
- 7.9.7.1. Company Overview
- 7.9.7.2. Financial Performance
- 7.9.7.3. Product Benchmarking
- 7.9.8. POSCO
- 7.9.8.1. Company Overview
- 7.9.8.2. Financial Performance
- 7.9.8.3. Product Benchmarking
- 7.9.9. Tata Steel
- 7.9.9.1. Company Overview
- 7.9.9.2. Financial Performance
- 7.9.9.3. Product Benchmarking
- 7.9.10. thyssenkrupp
- 7.9.10.1. Company Overview
- 7.9.10.2. Financial Performance
- 7.9.10.3. Product Benchmarking