Steel Market | Discover Top Segments, Trends, Drivers and Challenges
Market Forecast and Growth Projections 2021-2025

Global steel market will post an incremental growth of 614.20 mn tons and progressing at a CAGR of  6.32% during the forecast period. Our research report segments the market into major segments and the growth trajectory of the market and provides a detailed analysis of the prevalent market forces, trends, and drivers which are likely to impact the market in focus.

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Steel Market: Market Segments and Growth Forecasts

This research report will provide insights into the current market share of each segment along with growth projections for the next five years.

• Market is segmented End-user (Construction, Machinery, Transportation, Metal Goods, and Others) and Geography (APAC, Europe, North America, MEA, and South America).
• The APAC region emerged as the leading segment in recent years. 75% of the market growth will originate from APAC during the forecast period. This report provides an accurate prediction of the contribution of all the geographic segments to the growth of the Steel Market size.

Steel Market: Trends, Drivers, Challenges to impact growth

The research report looks at the impact of various trends, drivers, and challenges for market growth during the forecast period. These insights will enable clients to design a growth strategy for their business and area of operations.

• A key market driver for the Steel Market will be upsurge in consumption of high-strength steel.
• Corrosion resistance and excellent mechanical properties is another factor that will be instrumental in driving market growth during the forecast period.
• Excess production capacity is a hurdle that needs to be crossed on the path to success.

Steel Market: Vendor Analysis

• The market is fragmented.
• The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
• Ansteel Group Corp. Ltd., ArcelorMittal SA, Beijing Jianlong Heavy Industry Group Co. Ltd., Beijing Shougang Co., Ltd., China BaoWu Steel Group Corp. Ltd., HBIS Group Co. Ltd., Nippon Steel Corp., POSCO Group, Shagang Group Inc., and Tata Steel Ltd. are some of the major market participants.

For more insights into this market: Download a Free Sample Report. Our custom reports provide market insights at the global and regional level along with pipeline analysis of new product launches. It also provides a peek into the latest R&D along with an impact analysis of government regulations.

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerate at a CAGR of 6.32%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by 614.20 mn tons through 2021-2025.
    
3. What is a key factor driving this market?
   Upsurge in consumption of high-strength steel will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   APAC, Europe, North America, MEA, and South America are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   75% growth will originate from APAC
    
6. Who are the leading market vendors?
   The leading vendors in this market are Ansteel Group Corp. Ltd., ArcelorMittal SA, Beijing Jianlong Heavy Industry Group Co. Ltd., Beijing Shougang Co., Ltd., China BaoWu Steel Group Corp. Ltd., HBIS Group Co. Ltd., Nippon Steel Corp., POSCO Group, Shagang Group Inc., and Tata Steel Ltd.
    
7. What are the market segments covered in this report?
   The market is segmented by End-user (Construction, Machinery, Transportation, Metal Goods, and Others) and Geography (APAC, Europe, North America, MEA, and South America)

Steel: Discover Key Drivers that will Boost Growth

Market Insights to Drive Recovery from COVID-19

Technavio’s Steel Market is set to grow by 614.20 mn tons, and the market will progressing at a CAGR of 6.32% till 2025. This research report identifies and analyses the growth drivers that will boost market growth. It also provides a thorough understanding of all the segments, trends and challenges that are likely to have an impact on the future prospects fo the market in focus.

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Steel Market: Top Drivers for Growth

Technavio has identified the upsurge in consumption of high-strength steel as one of the key factors that will drive this market. This research report provides a comprehensive analysis of this and all the other factors that will propel market growth. The report also takes into account the current market scenario, trends, and challenges that are likely to impede growth. The objective of this research report is to equip clients with actionable insights that will help them leverage opportunities and formulate growth strategies for their business.

Steel Market: Segments and Geographical Regions

This research report provides insights into the current market share of each segment along with growth projections for the next five years. In addition, the report also offers a detailed impact analysis of various trends, drivers, and challenges on each market segment along with insights into the way forward. These insights will equip clients with information that will help them design a growth strategy for their business and area of operation. Steel Market is segmented by End-user (Construction, Machinery, Transportation, Metal Goods, and Others) and Geography (APAC, Europe, North America, MEA, and South America). Request our Free Sample Report

Steel Market: Ansteel Group Corp. Ltd., ArcelorMittal SA, Beijing Jianlong Heavy Industry Group Co. Ltd., Beijing Shougang Co., Ltd., China BaoWu Steel Group Corp. Ltd., HBIS Group Co. Ltd., Nippon Steel Corp., POSCO Group, Shagang Group Inc., and Tata Steel Ltd. are some of the leading competitors

The market is fragmented due to the presence of several players. The growth of the players depends on several factors such as market conditions, government support, and industry development. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions. Ansteel Group Corp. Ltd., ArcelorMittal SA, Beijing Jianlong Heavy Industry Group Co. Ltd., Beijing Shougang Co., Ltd., China BaoWu Steel Group Corp. Ltd., HBIS Group Co. Ltd., Nippon Steel Corp., POSCO Group, Shagang Group Inc., and Tata Steel Ltd. are some of the major market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments.

Explore Technavio’s Research on other Related Markets for more insights:

1. High-performance Alloys Market: The high-performance alloys market and it is expected to grow by $ 1.55 billion, accelerating at a CAGR of almost 4.18% during the forecast period. Request for our FREE Sample Report
2. Corrosion Resistant Alloys Market: The corrosion resistant alloys market and it is expected to grow by $ 2.82 billion, accelerating at a CAGR of almost 7.26% during the forecast period. Request for our FREE Sample Report
3. Galvanized Steel Market: Galvanized steel market is set to post an incremental growth of 57.74 million tons during 2021-2025. The market will progress at a CAGR of almost 3.02% during the forecast period. Request for our FREE Sample Report

The report provides insights into the following FAQs:

1. What is the market CAGR?
   The market is accelerate at a CAGR of 6.32%.
    
2. What is the incremental growth of the market?
   The market is expected to grow by 614.20 mn tons through 2021-2025.
    
3. What is a key factor driving this market?
   Upsurge in consumption of high-strength steel will drive market growth over the forecast period.
    
4. What are the key regions covered in this market research report?
   APAC, Europe, North America, MEA, and South America are the key regions featured in this research report.
    
5. Which is the leading geographic region for this market:
   75% growth will originate from APAC
    
6. Who are the leading market vendors?
   The leading vendors in this market are Ansteel Group Corp. Ltd., ArcelorMittal SA, Beijing Jianlong Heavy Industry Group Co. Ltd., Beijing Shougang Co., Ltd., China BaoWu Steel Group Corp. Ltd., HBIS Group Co. Ltd., Nippon Steel Corp., POSCO Group, Shagang Group Inc., and Tata Steel Ltd.
    
7. What are the market segments covered in this report?
   The market is segmented by End-user (Construction, Machinery, Transportation, Metal Goods, and Others) and Geography (APAC, Europe, North America, MEA, and South America)

Technavio also offers custom research reports with detailed insights assessing the market from a global as well as regional perspective. This customized report will help clients keep up with new product launches in direct & indirect or related markets. It will also provide insights on upcoming developments along with pipeline analysis of vendor operations and the impact of government regulations.

For more insights on this market: Download a Free Sample Report

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