Long Steel Products Industry Data Book - Steel Rebar, Wire Rods, Steel Pipes & Tubes and Steel Section Market Size, Share, Trends Analysis, and Segment Forecasts, 2023 - 2030
The economic value generated by the Long Steel Products industry was estimated at approximately USD 753.02 billion in 2022, and it is expanding at a CAGR of 3.8% from 2023 to 2030, according to a new report by Grand View Research, Inc.
Grand View Research’s long steel products sector database is a collection of market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory & technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.
Access the Global Long Steel Products Industry Data Book, 2023 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies
Steel Rebar Market Growth & Trends
The global steel rebar market size is expected to reach USD 415.79 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 2.9% from 2023 to 2030. Increasing investments in infrastructure revamping projects and construction activities are anticipated to drive the market over the forecast period.
Various infrastructure redevelopment projects dedicated to fueling economic growth across the world are projected to augment the demand for steel rebar during the forecast period. For instance, the Spanish government announced the Recovery, Transformation, and Resilience Plan to stimulate the economy from the crisis caused by the pandemic. Under the recovery plan, Spain is expected to receive USD 74.26 billion as a grant and USD 74.80 billion as a loan from the Recovery and Resilience Facility (RRF). Out of the total amount to be received, 15% is expected to be spent on infrastructure development projects in the country.
In addition, rising investments in residential and non-residential construction activities across developing economies are projected to drive the market across the forecast period. For instance, in February 2022, Godrej Properties announced plans to make an investment of around INR 7,500 crore (~USD 937.3 million) in the next 1-1.5 years in the development and acquisition of new housing and commercial real estate projects in Mumbai, Delhi, Bengaluru, and Pune.
The Asia Pacific held the largest revenue share in 2021 and the trend is expected to continue over the coming years. The infrastructure development projects announced by various governments of the region are anticipated to boost the demand during the forecast period. For instance, in March 2022, the Ministry for Road Transport and Highways, India inaugurated 19 National Highway projects worth USD 183.9 million in the states of Rajasthan and Haryana.
Order your copy of the Free Sample of “Long Steel Products Industry Data Book - Steel Rebar, Wire Rods, Steel Pipes & Tubes and Steel Section Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 - 2030” Data Book, published by Grand View Research
Steel Pipes & Tubes Market Growth & Trends
The global steel pipes & tubes market size is anticipated to reach USD 247.90 billion by 2030, according to a new report by Grand View Research, Inc., and is estimated to grow at a CAGR of 3.7% from 2023 to 2030. Increasing investment by governments across the world to improve the water system is expected to propel the demand for steel pipes & tubes over the forecast period. In March 2022, given the increasing concern over drinking water contamination in certain parts of the country, the U.S. EPA announced that it would release a USD 50 billion fund to be used for the development of clean water infrastructures. Such investments are expected to fuel the market growth in water treatment applications over the forecast period.
In the oil & gas industry, steel pipes & tubes are used for a wide range of applications, such as concrete pilings, conveyor belt roller bearings, or wall thickness. This application segment is expected to maintain its dominance across the forecast period, as increasing investment in offshore exploration & production is further aiding the product demand.
For instance, in June 2022, the Netherlands and Germany jointly announced that they would drill a new gas field in the North Sea. The first gas from the field is anticipated to be generated by the end of 2024. This is expected to positively impact the market growth over the forecast period.
Based on region, Asia Pacific is expected to register the fastest CAGR of 4.5% in terms of revenue over the forecast period. Rising investment in chemicals & petrochemicals and the power industry is expected to drive the market growth. For instance, in July 2022, BASFSE announced making an investment of nearly USD 10 billion in the petrochemical project in China by 2030.
Competitive Landscape
Key players operating in the Long Steel Products industry are:
- Gerdau S.A.
- Hyundai Steel
- JFE Steel Corporation
- JSW Steel Limited
- Tata Steel Group
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About Grand View Research
Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.
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