Long Steel Products Market Size, Trends and Insights By Type of Steel (Carbon Steel, Alloy Steel, Stainless Steel), By Process (Basic Oxygen Furnace, Electric Arc Furnace), By Product Type (Rebar, Wire Rod, Merchant Bar, Others), By Application (Construction, Industrial, Railways, Others), and By Region - Global Industry Overview, Statistical Data, Competitive Analysis, Share, Outlook, and Forecast 2024–2033
Report Snapshot
| Study Period: | 2024-2033 |
| Fastest Growing Market: | Asia-Pacific |
| Largest Market: | Europe |
Major Players
- ArcelorMittal S.A.
- Nippon Steel Corporation
- China Baowu Steel Group Corporation Limited
- POSCO (Pohang Iron and Steel Company)
- Others
Reports Description
As per the current market research conducted by the CMI Team, the global Long Steel Products Market is expected to record a CAGR of 5.2% from 2024 to 2033. In 2024, the market size is projected to reach a valuation of USD 793.8 Billion. By 2033, the valuation is anticipated to reach USD 1252.8 Billion.
World Crude Steel Production 2017 to 2021 (Million Tonnes)
| Year | Global |
| 2017 | 1735 |
| 2018 | 1827 |
| 2019 | 1875 |
| 2020 | 1879 |
| 2021 | 1951 |
Source: According to WorldSteel.org
The long steel products market encompasses a diverse range of steel products such as rebar, wire rods, merchant bars, and structural sections. Crucial to construction, manufacturing, and infrastructure projects, these products provide structural support, reinforcement, and versatility.
Influenced by factors like urbanization, infrastructure development, and technological advancements, the market has witnessed a shift towards sustainable practices and digitalization.
Key players, including ArcelorMittal, Nippon Steel, and China Baowu, drive market dynamics through strategic advancements, eco-friendly production, and innovations. The long steel products market is vital to global economic growth, offering solutions for a wide array of industries.
Long Steel Products Market – Significant Growth Factors
The Long Steel Products Market presents significant growth opportunities due to several factors:
- Infrastructure Development: Increasing investments in infrastructure projects, such as bridges, roads, and utilities, drive the demand for long steel products. Growing urbanization and population expansion contribute to sustained infrastructure development globally.
- Construction Industry Growth: The booming construction sector, particularly in emerging economies, fuels the demand for long steel products like rebar and structural sections. Residential, commercial, and industrial construction projects are major drivers of market growth.
- Technological Advancements: Continuous innovation in steel manufacturing technologies enhances efficiency, reduces production costs, and improves product quality. Advanced coatings, high-strength steel, and sustainable practices contribute to market competitiveness and meet evolving industry demands.
- Global Industrialization: Increasing industrial activities and manufacturing processes globally create a steady demand for long steel products. These products are essential components in machinery, equipment, and automotive manufacturing, supporting market growth.
- Green Steel Initiatives: The shift towards sustainable practices presents an opportunity for manufacturers to invest in green steel initiatives. Adopting environmentally friendly production processes and materials aligns with global sustainability goals and meets the growing demand for eco-friendly steel products.
Long Steel Products Market – Mergers and Acquisitions
The Long Steel Products Market has seen several mergers and acquisitions in recent years, with companies seeking to expand their market presence and leverage synergies to improve their product offerings and profitability. Some notable examples of mergers and acquisitions in the Long Steel Products Market include:
- In 2023, ArcelorMittal, a prominent steel manufacturer, invested USD 120 million in Boston Metal, a U.S.-based leader in decarbonizing steelmaking. This strategic move aims to support the startup in launching green steel by 2026, contributing to global efforts to reduce heavy greenhouse gas emissions from steel production.
- In 2022, ArcelorMittal revealed a USD 1 billion acquisition of Voestalpine’s HBI plant in Texas, USA. This strategic move is set to augment ArcelorMittal’s manufacturing capabilities by adding 2 million tons of Hot Briquetted Iron (HBI) capacity to its diverse portfolio.
These mergers and acquisitions have helped companies expand their product offerings, improve their market presence, and capitalize on growth opportunities in the Long Steel Products Market. The trend is expected to continue as companies seek to gain a competitive edge in the market.
COMPARATIVE ANALYSIS OF THE RELATED MARKET
| Long Steel Products Market | Ferrosilicon Market | Fire-Proof Door Market |
| CAGR 5.2% (Approx) | CAGR 2.7% (Approx) | CAGR 5.8% (Approx) |
| USD 1252.8 Billion by 2033 | USD 15.08 Billion by 2032 | USD 27.4 Billion by 2032 |
Long Steel Products Market – Significant Threats
The Long Steel Products Market faces several significant threats that could impact its growth and profitability in the future. Some of these threats include:
- Raw Material Price Volatility: Fluctuations in the prices of key raw materials, such as iron ore and scrap metal, pose a significant threat to the long steel products market. Sudden increases in raw material costs can impact profit margins for manufacturers and disrupt pricing stability in the market.
- Overcapacity and Price Wars: Excess production capacity in the steel industry can lead to price wars as manufacturers compete for market share. This overcapacity can result in reduced prices, negatively affecting the profitability of companies within the long steel products market.
- Global Trade Tensions and Tariffs: Trade disputes and the imposition of tariffs on steel products between major economies can create uncertainties and disruptions in the global long steel products market. Trade tensions may lead to restricted market access, altered supply chains, and increased production costs.
- Substitution by Alternative Materials: The potential substitution of steel products by alternative materials, such as composite materials or advanced plastics, poses a threat to the long steel products market. Changes in construction practices or the adoption of new materials in various industries could impact the demand for traditional steel products.
- Environmental Regulations and Compliance Costs: Stringent environmental regulations and the associated compliance costs can pose challenges for long steel product manufacturers. Meeting emission standards and implementing eco-friendly practices may require significant investments, impacting production costs and potentially affecting competitiveness in the market.
Category-Wise Insights:
By Type of Steel
- Carbon Steel: Carbon steel, composed primarily of iron and carbon, dominates the long steel products market. Its affordability and versatility make it widely used in construction. Trends include innovations in high-strength carbon steel and eco-friendly production methods, aligning with sustainability goals and meeting evolving industry demands.
- Alloy Steel: Alloy steel, containing additional elements like chromium, nickel, and molybdenum, offers enhanced strength and durability. In the long steel products market, trends involve the development of specialized alloys for specific applications, such as construction and automotive components, meeting evolving industry performance requirements.
- Stainless Steel: Stainless steel, known for its corrosion resistance, finds applications in long steel products for construction and transportation. Market trends focus on the use of stainless steel in sustainable construction and the development of advanced coatings, meeting both aesthetic and performance demands in various industries.
By Process
- Basic Oxygen Furnace (BOF): The Basic Oxygen Furnace process involves blowing oxygen through molten iron to reduce impurities. In the Long Steel Products Market, BOF is characterized by efficient mass production but faces environmental concerns. Trends include a shift towards electric arc furnaces for sustainability and cost reduction.
- Electric Arc Furnace (EAF): The Electric Arc Furnace process uses electricity to melt scrap steel. In the Long Steel Products Market, EAF is gaining popularity due to its energy efficiency and lower environmental impact. Current trends emphasize EAF adoption for sustainable steel production and flexibility in raw material use.
By Product Type
- Rebar: Rebar, or reinforcing bar, is crucial for the construction, of reinforced concrete structures. Trends include a rising demand due to infrastructure development and a shift towards high-strength and corrosion-resistant varieties to enhance structural integrity.
- Wire Rod: Wire rods find applications in construction, automotive, and manufacturing. Trends include increasing demand for automotive components, advancements in alloy formulations, and a focus on sustainability in production processes.
- Merchant Bar: Merchant bars, encompassing angles, channels, and beams, are vital in construction and industry. Current trends involve a surge in demand for infrastructure projects and a move towards eco-friendly production processes.
- Others: This category includes diverse long steel products. Trends vary but often include innovations in coatings, increased use of lightweight steel, and a focus on circular economy principles for sustainability.
By Application
- Construction: Long steel products, including rebar and structural sections, are vital for construction projects, providing strength and support. Trends include increased demand for high-strength steel in skyscraper construction, sustainable building practices, and the integration of digital technologies for precision and efficiency.
- Industrial: Utilized in manufacturing machinery and equipment, long steel products play a key role in the industrial sector. Trends involve a growing demand for specialty steel grades, the adoption of automation in manufacturing processes, and an emphasis on lightweight yet durable steel components.
- Railways: Long steel products, particularly rails, are essential for railway infrastructure. Trends include the development of high-speed rail networks, the implementation of advanced rail technologies for improved durability, and investments in railway projects to enhance transportation efficiency.
- Others: Long steel products find diverse applications beyond construction, industry, and railways. Trends encompass innovations in steel coatings for corrosion resistance, the rise of customized steel solutions for niche applications, and the exploration of lightweight steel for various industries to improve efficiency and reduce environmental impact.
Report Scope
| Feature of the Report | Details |
| Market Size in 2024 | USD 793.8 Billion |
| Projected Market Size in 2033 | USD 1252.8 Billion |
| Market Size in 2023 | USD 754.6 Billion |
| CAGR Growth Rate | 5.2% CAGR |
| Base Year | 2023 |
| Forecast Period | 2024-2033 |
| Key Segment | By Type of Steel, Process, Product Type, Application and Region |
| Report Coverage | Revenue Estimation and Forecast, Company Profile, Competitive Landscape, Growth Factors and Recent Trends |
| Regional Scope | North America, Europe, Asia Pacific, Middle East & Africa, and South & Central America |
| Buying Options | Request tailored purchasing options to fulfil your requirements for research. |
Long Steel Products Market – Regional Analysis
The Long Steel Products Market is segmented into various regions, including North America, Europe, Asia-Pacific, and LAMEA. Here is a brief overview of each region:
- North America: In North America, the long steel products market is driven by trends such as increased infrastructure investments, particularly in the United States, to address aging structures. Sustainable construction practices and the use of advanced steel technologies for energy-efficient buildings are gaining prominence, reflecting a growing focus on environmental responsibility.
- Europe: Europe’s long steel products market is influenced by a shift towards green steel production, with a strong emphasis on reducing carbon emissions. Growing demand for long steel products in renewable energy infrastructure, coupled with investments in smart cities, reflects the region’s commitment to sustainable development and innovation in steel manufacturing processes.
- Asia-Pacific: Asia-Pacific dominates the long steel products market, driven by rapid urbanization and industrialization. Key trends include the integration of digital technologies for smart manufacturing, the adoption of high-strength steel in construction, and a surge in infrastructure projects, particularly in emerging economies. China’s Belt and Road Initiative further propels demand for long steel products in the region.
- LAMEA (Latin America, Middle East, and Africa): LAMEA’s long steel products market is characterized by infrastructure development projects and initiatives to diversify economies. Trends include the use of long steel products in oil and gas infrastructure, advancements in steel manufacturing technologies to meet regional demand, and the incorporation of steel in sustainable construction practices to address environmental challenges.
Competitive Landscape – Long Steel Products Market
The Long Steel Products Market is highly competitive, with a large number of manufacturers and retailers operating globally. Some of the key players in the market include:
- ArcelorMittal S.A.
- Nippon Steel Corporation
- China Baowu Steel Group Corporation Limited
- POSCO (Pohang Iron and Steel Company)
- JFE Steel Corporation
- Tata Steel Limited
- Celsa Group
- Gerdau S.A.
- Severstal
- Steel Authority of India Limited (SAIL)
- JSW Steel Limited
- EVRAZ plc
- Nucor Corporation
- Riva Group
- Hebei Iron and Steel Group Co. Ltd. (Hesteel Group)
- Others
These companies operate in the market through various strategies such as product innovation, mergers and acquisitions, and partnerships.
New players entering the long steel products market, such as startups and tech-driven firms, often focus on innovation and sustainability to carve a niche. They leverage advanced manufacturing technologies, green steel initiatives, and digital solutions to differentiate themselves.
Key players dominating the market, including ArcelorMittal, Nippon Steel, and China Baowu, maintain their positions through extensive industry experience, global reach, and substantial production capacities. These market leaders invest in R&D, adopt eco-friendly practices, and embrace digitalization to stay ahead, solidifying their dominance in the competitive landscape.
The Long Steel Products Market is segmented as follows:
By Type of Steel
- Carbon Steel
- Alloy Steel
- Stainless Steel
By Process
- Basic Oxygen Furnace
- Electric Arc Furnace
By Product Type
- Rebar
- Wire Rod
- Merchant Bar
- Others
By Application
- Construction
- Industrial
- Railways
- Others
Regional Coverage:
North America
- U.S.
- Canada
- Mexico
- Rest of North America
Europe
- Germany
- France
- U.K.
- Russia
- Italy
- Spain
- Netherlands
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Taiwan
- Rest of Asia Pacific
The Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of the Middle East & Africa
Latin America
- Brazil
- Argentina
- Rest of Latin America
Table of Contents
- Chapter 1. Preface
- 1.1 Report Description and Scope
- 1.2 Research scope
- 1.3 Research methodology
- 1.3.1 Market Research Type
- 1.3.2 Market Research Methodology
- Chapter 2. Executive Summary
- 2.1 Global Long Steel Products Market, (2024 – 2033) (USD Billion)
- 2.2 Global Long Steel Products Market: snapshot
- Chapter 3. Global Long Steel Products Market – Industry Analysis
- 3.1 Long Steel Products Market: Market Dynamics
- 3.2 Market Drivers
- 3.2.1 Infrastructure Development
- 3.2.2 Construction Industry Growth
- 3.2.3 Technological Advancements
- 3.2.4 Global Industrialization
- 3.2.5 Green Steel Initiatives.
- 3.3 Market Restraints
- 3.4 Market Opportunities
- 3.5 Market Challenges
- 3.6 Porter’s Five Forces Analysis
- 3.7 Market Attractiveness Analysis
- 3.7.1 Market Attractiveness Analysis By Type of Steel
- 3.7.2 Market Attractiveness Analysis By Process
- 3.7.3 Market Attractiveness Analysis By Product Type
- 3.7.4 Market Attractiveness Analysis By Application
- Chapter 4. Global Long Steel Products Market- Competitive Landscape
- 4.1 Company market share analysis
- 4.1.1 Global Long Steel Products Market: Company Market Share, 2024
- 4.2 Strategic development
- 4.2.1 Acquisitions & mergers
- 4.2.2 New Product launches
- 4.2.3 Agreements, partnerships, cullaborations, and joint ventures
- 4.2.4 Research and development and Regional expansion
- 4.3 Price trend analysis
- 4.1 Company market share analysis
- Chapter 5. Global Long Steel Products Market – Type of Steel Analysis
- 5.1 Global Long Steel Products Market Overview: By Type of Steel
- 5.1.1 Global Long Steel Products Market Share, By Type of Steel, 2024 and – 2033
- 5.2 Carbon Steel
- 5.2.1 Global Long Steel Products Market by Carbon Steel, 2024 – 2033 (USD Billion)
- 5.3 Alloy Steel
- 5.3.1 Global Long Steel Products Market by Alloy Steel, 2024 – 2033 (USD Billion)
- 5.4 Stainless Steel
- 5.4.1 Global Long Steel Products Market by Stainless Steel, 2024 – 2033 (USD Billion)
- 5.1 Global Long Steel Products Market Overview: By Type of Steel
- Chapter 6. Global Long Steel Products Market – Process Analysis
- 6.1 Global Long Steel Products Market Overview: By Process
- 6.1.1 Global Long Steel Products Market Share, By Process, 2024 and – 2033
- 6.2 Basic Oxygen Furnace
- 6.2.1 Global Long Steel Products Market by Basic Oxygen Furnace, 2024 – 2033 (USD Billion)
- 6.3 Electric Arc Furnace
- 6.3.1 Global Long Steel Products Market by Electric Arc Furnace, 2024 – 2033 (USD Billion)
- 6.1 Global Long Steel Products Market Overview: By Process
- Chapter 7. Global Long Steel Products Market – Product Type Analysis
- 7.1 Global Long Steel Products Market Overview: By Product Type
- 7.1.1 Global Long Steel Products Market Share, By Product Type, 2024 and – 2033
- 7.2 Rebar
- 7.2.1 Global Long Steel Products Market by Rebar, 2024 – 2033 (USD Billion)
- 7.3 Wire Rod
- 7.3.1 Global Long Steel Products Market by Wire Rod, 2024 – 2033 (USD Billion)
- 7.4 Merchant Bar
- 7.4.1 Global Long Steel Products Market by Merchant Bar, 2024 – 2033 (USD Billion)
- 7.5 Others
- 7.5.1 Global Long Steel Products Market by Others, 2024 – 2033 (USD Billion)
- 7.1 Global Long Steel Products Market Overview: By Product Type
- Chapter 8. Global Long Steel Products Market – Application Analysis
- 8.1 Global Long Steel Products Market Overview: By Application
- 8.1.1 Global Long Steel Products Market Share, By Application, 2024 and – 2033
- 8.2 Construction
- 8.2.1 Global Long Steel Products Market by Construction, 2024 – 2033 (USD Billion)
- 8.3 Industrial
- 8.3.1 Global Long Steel Products Market by Industrial, 2024 – 2033 (USD Billion)
- 8.4 Railways
- 8.4.1 Global Long Steel Products Market by Railways, 2024 – 2033 (USD Billion)
- 8.5 Others
- 8.5.1 Global Long Steel Products Market by Others, 2024 – 2033 (USD Billion)
- 8.1 Global Long Steel Products Market Overview: By Application
- Chapter 9. Long Steel Product Market – Regional Analysis
- 9.1 Global Long Steel Product’s Market Regional Overview
- 9.2 Global Long Steel Product’s Market Share, by Region, 2024 & – 2033 (USD Billion)
- 9.3. North America
- 9.3.1 North America Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.3.1.1 North America Long Steel Product’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.3.1 North America Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.4 North America Long Steel Product’s Market, by Type of Steel, 2024 – 2033
- 9.4.1 North America Long Steel Product’s Market, by Type of Steel, 2024 – 2033 (USD Billion)
- 9.5 North America Long Steel Product’s Market, by Process, 2024 – 2033
- 9.5.1 North America Long Steel Product’s Market, by Process, 2024 – 2033 (USD Billion)
- 9.6 North America Long Steel Product’s Market, by Product Type, 2024 – 2033
- 9.6.1 North America Long Steel Product’s Market, by Product Type, 2024 – 2033 (USD Billion)
- 9.7 North America Long Steel Product’s Market, by Application, 2024 – 2033
- 9.7.1 North America Long Steel Product’s Market, by Application, 2024 – 2033 (USD Billion)
- 9.8. Europe
- 9.8.1 Europe Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.8.1.1 Europe Long Steel Product’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.8.1 Europe Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.9 Europe Long Steel Product’s Market, by Type of Steel, 2024 – 2033
- 9.9.1 Europe Long Steel Product’s Market, by Type of Steel, 2024 – 2033 (USD Billion)
- 9.10 Europe Long Steel Product’s Market, by Process, 2024 – 2033
- 9.10.1 Europe Long Steel Product’s Market, by Process, 2024 – 2033 (USD Billion)
- 9.11 Europe Long Steel Product’s Market, by Product Type, 2024 – 2033
- 9.11.1 Europe Long Steel Product’s Market, by Product Type, 2024 – 2033 (USD Billion)
- 9.12 Europe Long Steel Product’s Market, by Application, 2024 – 2033
- 9.12.1 Europe Long Steel Product’s Market, by Application, 2024 – 2033 (USD Billion)
- 9.13. Asia Pacific
- 9.13.1 Asia Pacific Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.13.1.1 Asia Pacific Long Steel Product’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.13.1 Asia Pacific Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.14 Asia Pacific Long Steel Product’s Market, by Type of Steel, 2024 – 2033
- 9.14.1 Asia Pacific Long Steel Product’s Market, by Type of Steel, 2024 – 2033 (USD Billion)
- 9.15 Asia Pacific Long Steel Product’s Market, by Process, 2024 – 2033
- 9.15.1 Asia Pacific Long Steel Product’s Market, by Process, 2024 – 2033 (USD Billion)
- 9.16 Asia Pacific Long Steel Product’s Market, by Product Type, 2024 – 2033
- 9.16.1 Asia Pacific Long Steel Product’s Market, by Product Type, 2024 – 2033 (USD Billion)
- 9.17 Asia Pacific Long Steel Product’s Market, by Application, 2024 – 2033
- 9.17.1 Asia Pacific Long Steel Product’s Market, by Application, 2024 – 2033 (USD Billion)
- 9.18. Latin America
- 9.18.1 Latin America Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.18.1.1 Latin America Long Steel Product’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.18.1 Latin America Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.19 Latin America Long Steel Product’s Market, by Type of Steel, 2024 – 2033
- 9.19.1 Latin America Long Steel Product’s Market, by Type of Steel, 2024 – 2033 (USD Billion)
- 9.20 Latin America Long Steel Product’s Market, by Process, 2024 – 2033
- 9.20.1 Latin America Long Steel Product’s Market, by Process, 2024 – 2033 (USD Billion)
- 9.21 Latin America Long Steel Product’s Market, by Product Type, 2024 – 2033
- 9.21.1 Latin America Long Steel Product’s Market, by Product Type, 2024 – 2033 (USD Billion)
- 9.22 Latin America Long Steel Product’s Market, by Application, 2024 – 2033
- 9.22.1 Latin America Long Steel Product’s Market, by Application, 2024 – 2033 (USD Billion)
- 9.23. The Middle-East and Africa
- 9.23.1 The Middle-East and Africa Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.23.1.1 The Middle-East and Africa Long Steel Product’s Market, by Country, 2024 – 2033 (USD Billion)
- 9.23.1 The Middle-East and Africa Long Steel Product’s Market, 2024 – 2033 (USD Billion)
- 9.24 The Middle-East and Africa Long Steel Product’s Market, by Type of Steel, 2024 – 2033
- 9.24.1 The Middle-East and Africa Long Steel Product’s Market, by Type of Steel, 2024 – 2033 (USD Billion)
- 9.25 The Middle-East and Africa Long Steel Product’s Market, by Process, 2024 – 2033
- 9.25.1 The Middle-East and Africa Long Steel Product’s Market, by Process, 2024 – 2033 (USD Billion)
- 9.26 The Middle-East and Africa Long Steel Product’s Market, by Product Type, 2024 – 2033
- 9.26.1 The Middle-East and Africa Long Steel Product’s Market, by Product Type, 2024 – 2033 (USD Billion)
- 9.27 The Middle-East and Africa Long Steel Product’s Market, by Application, 2024 – 2033
- 9.27.1 The Middle-East and Africa Long Steel Product’s Market, by Application, 2024 – 2033 (USD Billion)
- Chapter 10. Company Profiles
- 10.1 ArcelorMittal S.A.
- 10.1.1 Overview
- 10.1.2 Financials
- 10.1.3 Product Portfolio
- 10.1.4 Business Strategy
- 10.1.5 Recent Developments
- 10.2 Nippon Steel Corporation
- 10.2.1 Overview
- 10.2.2 Financials
- 10.2.3 Product Portfolio
- 10.2.4 Business Strategy
- 10.2.5 Recent Developments
- 10.3 China Baowu Steel Group Corporation Limited
- 10.3.1 Overview
- 10.3.2 Financials
- 10.3.3 Product Portfolio
- 10.3.4 Business Strategy
- 10.3.5 Recent Developments
- 10.4 POSCO (Pohang Iron and Steel Company)
- 10.4.1 Overview
- 10.4.2 Financials
- 10.4.3 Product Portfolio
- 10.4.4 Business Strategy
- 10.4.5 Recent Developments
- 10.5 JFE Steel Corporation
- 10.5.1 Overview
- 10.5.2 Financials
- 10.5.3 Product Portfolio
- 10.5.4 Business Strategy
- 10.5.5 Recent Developments
- 10.6 Tata Steel Limited
- 10.6.1 Overview
- 10.6.2 Financials
- 10.6.3 Product Portfolio
- 10.6.4 Business Strategy
- 10.6.5 Recent Developments
- 10.7 Celsa Group
- 10.7.1 Overview
- 10.7.2 Financials
- 10.7.3 Product Portfolio
- 10.7.4 Business Strategy
- 10.7.5 Recent Developments
- 10.8 Gerdau S.A.
- 10.8.1 Overview
- 10.8.2 Financials
- 10.8.3 Product Portfolio
- 10.8.4 Business Strategy
- 10.8.5 Recent Developments
- 10.9 Severstal
- 10.9.1 Overview
- 10.9.2 Financials
- 10.9.3 Product Portfolio
- 10.9.4 Business Strategy
- 10.9.5 Recent Developments
- 10.10 Steel Authority of India Limited (SAIL)
- 10.10.1 Overview
- 10.10.2 Financials
- 10.10.3 Product Portfolio
- 10.10.4 Business Strategy
- 10.10.5 Recent Developments
- 10.11 JSW Steel Limited
- 10.11.1 Overview
- 10.11.2 Financials
- 10.11.3 Product Portfolio
- 10.11.4 Business Strategy
- 10.11.5 Recent Developments
- 10.12 EVRAZ plc
- 10.12.1 Overview
- 10.12.2 Financials
- 10.12.3 Product Portfolio
- 10.12.4 Business Strategy
- 10.12.5 Recent Developments
- 10.13 Nucor Corporation
- 10.13.1 Overview
- 10.13.2 Financials
- 10.13.3 Product Portfolio
- 10.13.4 Business Strategy
- 10.13.5 Recent Developments
- 10.14 Riva Group
- 10.14.1 Overview
- 10.14.2 Financials
- 10.14.3 Product Portfolio
- 10.14.4 Business Strategy
- 10.14.5 Recent Developments
- 10.15 Hebei Iron and Steel Group Co. Ltd. (Hesteel Group)
- 10.15.1 Overview
- 10.15.2 Financials
- 10.15.3 Product Portfolio
- 10.15.4 Business Strategy
- 10.15.5 Recent Developments
- 10.16 Others.
- 10.16.1 Overview
- 10.16.2 Financials
- 10.16.3 Product Portfolio
- 10.16.4 Business Strategy
- 10.16.5 Recent Developments
- 10.1 ArcelorMittal S.A.
List Of Figures
Figures No 1 to 31
List Of Tables
Tables No 1 to 102
Report Methodology
In order to get the most precise estimates and forecasts possible, Custom Market Insights applies a detailed and adaptive research methodology centered on reducing deviations. For segregating and assessing quantitative aspects of the market, the company uses a combination of top-down and bottom-up approaches. Furthermore, data triangulation, which examines the market from three different aspects, is a recurring theme in all of our research reports. The following are critical components of the methodology used in all of our studies:
Preliminary Data Mining
On a broad scale, raw market information is retrieved and compiled. Data is constantly screened to make sure that only substantiated and verified sources are taken into account. Furthermore, data is mined from a plethora of reports in our archive and also a number of reputed & reliable paid databases. To gain a detailed understanding of the business, it is necessary to know the entire product life cycle and to facilitate this, we gather data from different suppliers, distributors, and buyers.
Surveys, technological conferences, and trade magazines are used to identify technical issues and trends. Technical data is also gathered from the standpoint of intellectual property, with a focus on freedom of movement and white space. The dynamics of the industry in terms of drivers, restraints, and valuation trends are also gathered. As a result, the content created contains a diverse range of original data, which is then cross-validated and verified with published sources.
Statistical Model
Simulation models are used to generate our business estimates and forecasts. For each study, a one-of-a-kind model is created. Data gathered for market dynamics, the digital landscape, development services, and valuation patterns are fed into the prototype and analyzed concurrently. These factors are compared, and their effect over the projected timeline is quantified using correlation, regression, and statistical modeling. Market forecasting is accomplished through the use of a combination of economic techniques, technical analysis, industry experience, and domain knowledge.
Short-term forecasting is typically done with econometric models, while long-term forecasting is done with technological market models. These are based on a synthesis of the technological environment, legal frameworks, economic outlook, and business regulations. Bottom-up market evaluation is favored, with crucial regional markets reviewed as distinct entities and data integration to acquire worldwide estimates. This is essential for gaining a thorough knowledge of the industry and ensuring that errors are kept to a minimum.
Some of the variables taken into account for forecasting are as follows:
• Industry drivers and constraints, as well as their current and projected impact
• The raw material case, as well as supply-versus-price trends
• Current volume and projected volume growth through 2032
We allocate weights to these variables and use weighted average analysis to determine the estimated market growth rate.
Primary Validation
This is the final step in our report’s estimating and forecasting process. Extensive primary interviews are carried out, both in-person and over the phone, to validate our findings and the assumptions that led to them.
Leading companies from across the supply chain, including suppliers, technology companies, subject matter experts, and buyers, use techniques like interviewing to ensure a comprehensive and non-biased overview of the business. These interviews are conducted all over the world, with the help of local staff and translators, to overcome language barriers.
Primary interviews not only aid with data validation, but also offer additional important insight into the industry, existing business scenario, and future projections, thereby improving the quality of our reports.
All of our estimates and forecasts are validated through extensive research work with key industry participants (KIPs), which typically include:
• Market leaders
• Suppliers of raw materials
• Suppliers of raw materials
• Buyers.
The following are the primary research objectives:
• To ensure the accuracy and acceptability of our data.
• Gaining an understanding of the current market and future projections.
Data Collection Matrix
| Perspective | Primary research | Secondary research |
| Supply-side |
|
|
| Demand-side |
|
|
Market Analysis Matrix
| Qualitative analysis | Quantitative analysis |
|
|
Prominent Player
- ArcelorMittal S.A.
- Nippon Steel Corporation
- China Baowu Steel Group Corporation Limited
- POSCO (Pohang Iron and Steel Company)
- JFE Steel Corporation
- Tata Steel Limited
- Celsa Group
- Gerdau S.A.
- Severstal
- Steel Authority of India Limited (SAIL)
- JSW Steel Limited
- EVRAZ plc
- Nucor Corporation
- Riva Group
- Hebei Iron and Steel Group Co. Ltd. (Hesteel Group)
- Others
FAQs
The key factors driving the Market are Infrastructure Development, Construction Industry Growth, Technological Advancements, Global Industrialization, Green Steel Initiatives.
The “Construction” had the largest share in the global market for Long Steel Products.
The “Carbon Steel” category dominated the market in 2023.
The key players in the market are ArcelorMittal S.A., Nippon Steel Corporation, China Baowu Steel Group Corporation Limited, POSCO (Pohang Iron and Steel Company), JFE Steel Corporation, Tata Steel Limited, Celsa Group, Gerdau S.A., Severstal, Steel Authority of India Limited (SAIL), JSW Steel Limited, EVRAZ plc, Nucor Corporation, Riva Group, Hebei Iron and Steel Group Co. Ltd. (Hesteel Group), Others.
“Asia-Pacific” had the largest share in the Long Steel Products Market.
The global market is projected to grow at a CAGR of 5.2% during the forecast period, 2024-2033.
The Long Steel Products Market size was valued at USD 793.8 Billion in 2024.