According to the latest report by IMARC Group, titled “Steel Long Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global steel long products market size reached US$ 547.46 Billion in 2022. Steel long products are manufactured from billets and blooms. They provide high tensile strength, durability and enhance the shelf life of a product. They easily absorb excessive amounts of heat energy and provide high stability in extreme weather conditions. Besides this, they assist in providing corrosion resistance properties and flexibility as compared to iron products. As a result, steel long products are widely utilized in the automotive, construction, oil and gas, mining, and aerospace industries across the globe.
Global Steel Long Products Market Trends:
At present, the rising demand for steel long products due to the increasing construction activities around the world represents one of the key factors contributing to the growth of the market. Besides this, the growing adoption of structural steel long products in railways on account of the increasing development of railway routes and lines and upgrading bridges across the globe is offering a favorable market outlook. Additionally, there is a rise in the demand for lightweight and durable steel products that has a longer life and assist in strengthening structural integrity. This, coupled with the increasing adoption of steel long products to produce solar plants and windmills around the world, is bolstering the growth of the market. Apart from this, the rising integration of artificial intelligence (AI), machine learning (ML), and big data to easily identify defects in the manufacturing process is impelling the market growth. In addition, the increasing employment of steel long products to manufacture various components in the automotive industry, such as brake pedal wires, seat springs, clutch, springs, and spokes, is offering lucrative growth opportunities to industry investors. Moreover, the rising utilization of rebars as tensile devices that assist in holding concrete efficiently is supporting the growth of the market. Furthermore, key players are introducing high-strength steel bridge that provides low-temperature toughness, weldability, and seismic resistance to the bridge structure, which is strengthening the growth of the market. Looking forward, the market value is projected to reach US$ 774.73 Billion by 2028, expanding at a CAGR of 5.87% during 2023-2028.
- Based on the type, the market has been segmented into rebars, wire rods, tubes, and sections. At present, rebars dominate the market, holding the largest share.
- On the basis of the application, the market has been classified into construction, automotive and aerospace, railway and highway, and others. Among these, construction represents the largest segment.
- Region-wise, the market has been segmented into North America (United States and Canada); Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. Amongst these, Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others) enjoys the leading position in the market.
- The competitive landscape of the market has also been examined, with some of the key players being ArcelorMittal S.A, Baosteel Group, Evraz plc, Gerdau S/A, Hbis Group Co. Ltd., Hyundai Steel, JFE Steel Corporation, Nippon Steel Corporation, POSCO Holdings Inc., Tata Steel Long Products Limited.
|Base Year of the Analysis
||Rebars, Wire Rods, Tubes, Sections
||Construction, Automotive and Aerospace, Railway and Highway, Others
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||ArcelorMittal S.A, Baosteel Group, Evraz plc, Gerdau S/A, Hbis Group Co. Ltd., Hyundai Steel, JFE Steel Corporation, Nippon Steel Corporation, POSCO Holdings Inc., Tata Steel Long Products Limited, etc.
||10% Free Customization
|Report Price and Purchase Option
||Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
|Post-Sale Analyst Support
||PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.
134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-702-409-7331 | Asia: +91-120-433-0800, +91-120-433-0800