Steel Processing Trends and Forecast
The future of the global steel processing market looks promising with opportunities in the construction, shipping, energy, packaging, consumer appliances, housing, and automotive markets. The global steel processing market is expected to grow with a CAGR of2.8% from 2024 to 2030. The major drivers for this market are growing urban population requires a huge amount of new steel products, rapid industrialization stimulates the production of more steel, and increasing infrastructure investment.
A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.
Steel Processing by Segment
The study includes a forecast for the global steel processing by steel type, steel products, end use, and region.
Steel Processing Market by Steel Type [Shipment Analysis by Value from 2018 to 2030]:
• Alloy Steel
• Carbon Steel
Steel Processing Market by Steel Products [Shipment Analysis by Value from 2018 to 2030]:
• Flat Steel
• Long Steel
• Tubular Steel
Steel Processing Market by End Use [Shipment Analysis by Value from 2018 to 2030]:
• Construction
• Shipping
• Energy
• Packaging
• Consumer Appliances Industry
• Housing
• Automotive
• Others
Steel Processing Market by Region [Shipment Analysis by Value from 2018 to 2030]:
• North America
• Europe
• Asia Pacific
• The Rest of the World
List of Steel Processing Companies
Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies steel processing companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the steel processing companies profiled in this report include-
• ArcelorMittal
• Baosteel
• POSCO
• Nippon Steel & Sumitomo Metal
• JFE Holdings
Steel Processing Market Insights
Lucintel forecasts that alloy steel is expected to witness the higher growth over the forecast period due to its strength and durability and temperature resistance capabilities.
Within this market, construction will remain the largest segment as steel plays an essential role in infrastructure development.
APAC will remain the largest region over the forecast period due to rapid economic growth, significantly growing automotive industry, and rising government initiatives in the region.
Features of the Global Steel Processing Market
Market Size Estimates: Steel processing market size estimation in terms of value ($B).
Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.
Segmentation Analysis: Steel processing market size by steel type, steel products, end use, and region in terms of value ($B).
Regional Analysis: Steel processing market breakdown by North America, Europe, Asia Pacific, and Rest of the World.
Growth Opportunities: Analysis of growth opportunities in different steel types, steel products, end uses, and regions for the steel processing market.
Strategic Analysis: This includes M&A, new product development, and competitive landscape of the steel processing market.
Analysis of competitive intensity of the industry based on Porter’s Five Forces model.
FAQ
Q1. What is the growth forecast for steel processing market?
Answer: The global steel processing market is expected to grow with a CAGR of2.8% from 2024 to 2030.
Q2. What are the major drivers influencing the growth of the steel processing market?
Answer: The major drivers for this market are growing urban population requires a huge amount of new steel products, rapid industrialization stimulates the production of more steel, and increasing infrastructure investment.
Q3. What are the major segments for steel processing market?
Answer: The future of the steel processing market looks promising with opportunities in the construction, shipping, energy, packaging, consumer appliances, housing, and automotive markets.
Q4. Who are the key steel processing market companies?
Answer: Some of the key steel processing companies are as follows:
• ArcelorMittal
• Baosteel
• POSCO
• Nippon Steel & Sumitomo Metal
• JFE Holdings
Q5. Which steel processing market segment will be the largest in future?
Answer: Lucintel forecasts that alloy steel is expected to witness the higher growth over the forecast period due to its strength and durability and temperature resistance capabilities.
Q6. In steel processing market, which region is expected to be the largest in next 5 years?
Answer: APAC will remain the largest region over the forecast period due to rapid economic growth, significantly growing automotive industry, and rising government initiatives in the region.
Q.7 Do we receive customization in this report?
Answer: Yes, Lucintel provides 10% customization without any additional cost.
This report answers following 11 key questions:
Q.1. What are some of the most promising, high-growth opportunities for the steel processing market by steel type (alloy steel and carbon steel), steel products (flat steel, long steel, and tubular steel), end use (construction, shipping, energy, packaging, consumer appliances industry, housing, automotive, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and the reasons behind them?
Q.7. What are some of the changing demands of customers in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?
For any questions related to Steel Processing Market, Steel Processing Market Size, Steel Processing Market Growth, Steel Processing Market Analysis, Steel Processing Market Report, Steel Processing Market Share, Steel Processing Market Trends, Steel Processing Market Forecast, Steel Processing Companies, write Lucintel analyst at email: helpdesk@lucintel.com. We will be glad to get back to you soon.