Long Steel Market 2028 Forecast region |Global Industry Scenario, Opportunity, and Industry Expansion Strategies to 2028
Rapid industrialization and urbanization, particularly in developing countries, is a major factor driving global long steel market revenue growth
The global long steel market size is expected to reach USD 701.69 Billion at a steady CAGR of 3.6% in 2028, according to latest analysis by Emergen Research. Increasing global long steel market revenue growth can be attributed to rapid growth of the construction industry due to surging demand due to increasing industrialization and urbanization, particularly in developing countries.
Structural steel products such as rails are used in various industries, and expansion of lines and routes, as well as need for timely repair and replacement is fueling growth of the long steel market. Steel is used to produce handrails and these are highly essential to ensure proper safety. Structural steel railings have greater tensile strength than other materials, as well better rust proof and weather resistant properties, thereby making the material very suitable for outdoor applications.
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The Long steel report further offers an extensive overview of the market, along with an in-depth summary of the market’s leading players. The Long steel market report ends with a conclusive data offering accurate insights into the growth of the market on both the regional and global scales.
Major companies in the market include Nucor Corporation, Gerdau SA, Tata Steel Limited, Steel Dynamics Inc., ArcelorMittal SA, POSCO, Ansteel Group Corporation Limited, Nippon Steel Corporation, Mechel PAO, and Acerinox SA.
Some Key Highlights From the Report
- Gerdau Aços Longos, which is a subsidiary of Gerdau SA, announced the acquisition of Silat (Siderúrgica Latino Americana), which is a company manufacturing long steel products. The annual manufacturing capacity of Silat is 600,000 tons of products made of long steel, comprising primarily wire rods and rebars.
- Deployment of electric arc furnaces for steel production is rapidly gaining traction among steel manufacturing companies. Electric arc furnaces find use for smelting of high-quality steel and various other special steels. The production process enables production of a range of steel grades with low capital outlay, and melting processes can be automated, thereby offering high flexibility and efficiency.
- Wire rods find application mostly for producing wires and deployed in engineering, aviation, and reinforcing concrete structures. For instance, steel wire rods are used in the production of reinforcement cages and to produce round, rectangular, or square assembly clamps. Reinforcing cages are used to reinforce girders, monolithic columns, cross-tops, belts, and lintel strip foundations.
- Long steel market in Asia Pacific accounted for fastest revenue share growth in 2020 and trend is expected to continue over the forecast period. This can be attributed to rapid growth in the urbanization trend in countries such as China and India, which is driving steady growth of the construction industry. Additionally, presence of leading companies in the region is supporting market growth.
The global Long steel market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East & Africa. It evaluates the presence of the global Long steel market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
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Emergen Research has segmented the global long steel market on the basis of production process, product type, application, distribution channel, and region:
- Production Process Outlook (Revenue, USD Billion; 2018–2028)
- Electric Arc Furnace
- Basic Oxygen Furnace
- Product Type Outlook (Revenue, USD Billion; 2018–2028)
- Wire Rod
- Merchant Bar
- Application Outlook (Revenue, USD Billion; 2018–2028)
- Distribution Channel Outlook (Revenue, USD Billion; 2018–2028)
Along with this, thorough research about their strategic business expansion plans such as mergers and acquisitions, joint ventures, collaborations, product and brand promotions, government and corporate deals, and partnerships, among others. To offer a better understanding of the competitive landscape, extensive SWOT analysis and Porter’s Five Forces analysis are included in the report.
The report considers the following timeline for market estimation:
Historical Years: 2017-2018
Base Year: 2019
Estimated Year: 2027
Forecast Years: 2020-2027
To conclude everything stated above, the report offers a panoramic view of the Long steel market in both the global and regional markets, supported by key statistical data and industry-verified facts. It offers a thorough examination of the size, share, and market volume of the Long steel industry to forecast the same evaluations until 2028
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