About Steel-
Steel is a robust alloy primarily composed of iron and carbon, prized for its durability and adaptability. Its finds extensive use in construction, manufacturing and diverse industries due to its strength. The Steel Market experience significant impetus from global infrastructure Growth technological advancement in production, urbanization and heightened demand in Automotive and Transpiration sectors. It grapples with challenges like fluctuating raw material prices, regional overcapacity and compliance with expenses. Notable trends encompass a shift towards eco-friendly production a surge in high strength steel Demand and a Concentrated push for recycling initiatives. Oppertunities arises from investment in renewable energy structures, advancement in lighter steel application market penetration and emerging economies and dedicated embrace of circular economy model.
Attributes | Details |
---|
Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 4.2% |
The global steel industry is moderately consolidated Market. with leading players accounting for around 65 to 70% industry share of steel., Nippon Steel Corporation, and ThyssenKrupp AG are the leading manufacturers and suppliers of steel listed in the report. Key steel companies are investing in continuous research to produce improved materials and increase their production capacity to meet end-user demand. Analyst at AMA Research estimates that Chinese Vendors will contribute the maximum growth to Global Steel- market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
ThyssenKrupp AG (Germany), Tata Steel (India), Vallourec (France), Yuantai Derun Group (China), Anyang Steel Group (China), Youfa Steel Pipe Group (China), ArcelorMittal SA (Luxembourg), POSCO Holding Inc. (South Korea), Baoshan Iron and Steel Co Ltd (China), Nippon Steel Corp (Japan) and Nucor Corp (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Ansteel Group (China) and Hyundai Steel. (South Korea).
Segmentation Overview
AMA Research has segmented the market of Global Steel- market by Type (Carbon Steel, Stainless Steel, Alloy Steel, Tool Steel and Others), Application (Building and Construction, Automotive & Transportation, Heavy Industry, Consumer Goods and Others) and Region.
On the basis of geography, the market of Steel- has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Influencing Trend:
Increasing Recycling Efforts of steel and Rising Preference for High strength steel in manufacturing
Market Growth Drivers:
Demands form Emerging Economics and Growing Automotive and Transportations Sector
Challenges:
Energy intensive production processes and Global Trade Tensions and Tariffs
Restraints:
Volatility in Raw materials Prices and Regulatory and Environmental Compliance Cost
Opportunities:
Expansion in Renewable Energy Infrastructure. and Investments in Research for New steel alloys and applications
Market Leaders and their expansionary development strategies
In June 2022, Nucor Cooperation announced that it has entered into an agreement to acquire submit utility structures LLC and related company Sovereign Steel Manufacturing LLC producer of metal pole and other steel structure for Utility Infrastructure and highway signage. Nucor Plan is to establish a nationwide footprint able to service all customer through North America
In September, 2023. ThyssenKrupp Steel is investing in modernizing terminal operations at Ertsoverslagbedrijf Europoort C.V. (EECV) at the Port of Rotterdam. With the investment of a mid-double-digit million euro sum, an old ship unloader will be replaced by a state-of-the-art one, strengthening the future of EECV and ThyssenKrupp Veerhaven. The new unloader will significantly improve efficiency, environmental friendliness and safety, and is expected to be operational by the end of 2025.
Key Target Audience
Steel Manufactures, Reasearch industry, Regulatory Bodies, Provider, Investor and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.