Blog Details

Growing Infrastructural Development to Drive the Global Steel Industry

Date: 30th Sep 2020 | Category: Metal & Mining

The global steel production volume is estimated to reach 2175 million tonnes in 2024, growing at a CAGR of 4.50% for the period spanning from 2020 to 2024. The factors such as rising population growth, growing urban population, growing automobile sector, growing spending on construction and infrastructure projects and growing demand for long steel are expected to drive the market. However, growth of the industry will be challenged by price volatility. A few notable trends include technological advancements, rising demand for stainless steel and rising demand for recycled steel.

The global steel market is expected to grow in future owing to increasing infrastructural activities and rising adoption of steel in automotive, electrical and other end use industries. In terms of geographical areas, China is the major contributors to the global steel production supported by increasing automotive production and growth of electrical appliances. India is the fastest growing market for steel with increasing urbanization, industrialization and infrastructure investments. 

Scope of the report:

• The report provides a comprehensive analysis of the global steel industry.

• The major regional markets (China, India, NAFTA, EU and Japan) have been analyzed.

• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth. 

• The competitive landscape of the market, along with the company profiles of leading players (ArcelorMittal S.A., Gerdau S.A., Nippon Steel Corporation, JFE Steel Corporation, POSCO and TATA Steel Limited) are also presented in detail.

Key Target Audience:

• Steel Producers

• End Users (Construction, Automotive and Machinery)

• Consulting Firms 

• Investment Banks

• Government Bodies & Regulating Authorities