Global Steel Industry Report 2023

Global Steel Industry Report 2023: Trends, Share, Size, Growth, Opportunity, and Forecast 2022-2028 – Producers Innovate to Meet Growing Pressure, Temperature, and Corrosion Resistance Demands

The global sword request size reached US$ 907 Billion in 2022. Looking forward, the request is set to reach US$ 1,077 Billion by 2028, flaunting a growth rate( CAGR) of 2.8 during 2023- 2028. Significant growth in the automotive assiduity across the globe is creating a positive outlook for the request. sword is extensively used in the product of machine structures, similar to doors, machines, box closures, retarding systems, energy tanks, gears steering, and retardation systems. In line with this, the demand for flat swords by machine manufacturers to enhance energy effectiveness and reduce the overall weight of the vehicles is favoring the request growth. also, colorful technological advancements, similar to the integration of artificial intelligence( AI) and the development of rolling and casting ways that help in perfecting sword product styles to produce designs that are resistant to pressure, temperature, and erosion, are furnishing a motivation to the request growth.

also, the wide product relinquishment in the construction assiduity due to its parcels, including rigidity and continuity, therefore making the structures earthquake-resistant, is appreciatively impacting the request growth. Other factors, including the adding product demand for manufacturing military aircraft and expansive infrastructural developments across the globe, are anticipated to drive the request toward growth.

Key Questions Answered in This Report

  • What was the size of the global steel market in 2022?
  • What is the expected growth rate of the global steel market during 2023-2028?
  • What are the key factors driving the global steel market?
  • What has been the impact of COVID-19 on the global steel market?
  • What is the breakup of the global steel market based on the type?
  • What is the breakup of the global steel market based on the product?
  • What is the breakup of the global steel market based on application?
  • What are the key regions in the global steel market?
  • Who are the key players/companies in the global steel market?

Key Attributes:

Report AttributeDetails
No. of Pages141
Forecast Period2022 – 2028
Estimated Market Value (USD) in 2022$907 Billion
Forecasted Market Value (USD) by 2028$1077 Billion
Compound Annual Growth Rate2.9%
Regions CoveredGlobal

Competitive Landscape:

  • ArcelorMittal S.A.
  • EVRAZ plc
  • Gerdau S.A.
  • Hyundai Steel Co. Ltd
  • JFE Steel Corporation (JFE Holdings Inc.)
  • Jiangsu Shagang Group Co. Ltd
  • Nippon Steel Corporation
  • Nucor Corporation
  • Shougang Group Co. Ltd.
  • Tata Steel Ltd. (Tata Group)
  • ThyssenKrupp AG
  • United States Steel Corporation.

Key Market Segmentation:

Breakup by Type:

  • Flat Steel
  • Long Steel

Breakup by Product:

  • Structural Steel
  • Prestressing Steel
  • Bright Steel
  • Welding Wire and Rod
  • Iron Steel Wire
  • Ropes
  • Braids

Breakup by Application:

  • Building and Construction
  • Electrical Appliances
  • Metal Products
  • Automotive
  • Transportation
  • Mechanical Equipment
  • Domestic Appliances

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

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