Iron and Steel Industry Growth Forecast: Key Factors and Challenges to 2030

Projection of Revenue Growth:

The Global Iron and Steel Market size was valued at USD 1689.64 Bn. in 2023 and the total Iron And Steel revenue is expected to grow by 4.1 % from 2024 to 2030, reaching nearly USD 2238.47Bn.

Iron and Steel Market Overview

The report presents a comprehensive overview of the Iron and Steel Market, including market shares, drivers, restraints, and growth opportunities. It covers both international and domestic markets, providing landscape analysis, trade insights, and key regions of development.

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Iron and Steel Market Report Scope and Research Methodology

The research for this report insights a comprehensive analysis of the global Iron and Steel Market, focusing on both value and volume aspects, and includes forecasts for the projected period. Regional and country-level analyses are conducted to identify recent and future growth trends, prospects, and their respective contributions to the market. The report provides crucial metrics such as the market's Compound Annual Growth Rate (CAGR), market size, value, volume, revenue, sales, and other key factors related to the Iron and Steel Market. Each segment of the industry is evaluated based on its growth rate and market share. Additionally, a thorough analysis of key market players by region is conducted, encompassing their revenue, financial status, and technical developments, offering insights into the competitive landscape of the market. The bottom-up approach is employed to accurately estimate the Iron and Steel Market size.

Iron and Steel Market Regional Insights

The Iron and Steel Market is segmented into major regions, including North America, Europe, Asia Pacific, The Middle East and Africa, and South America, offering a comprehensive understanding of its global presence and regional impact.

Iron and Steel Market Segmentation

by Type

Iron

Steel

by Production Technology

Basic Oxygen Furnace

Electric Arc Furnace

Open Hearth

Other

by End-User Industry

Construction And Buildings

Automotive And Transportation

Heavy Industry

Consumer Goods

Iron and Steel Market Key Players

1. ArcelorMittal

2. China Baowu Steel Group Corporation Limited

3. Nippon Steel Corporation

4. HBIS Group

5. Jiangsu Shagang Group

6. POSCO HOLDINGS INC.

7. Tata Steel

8. JFE Steel Corporation

9. Shougang Group

10. Nucor Corporation

11. JSW

12. SAIL

13. NLMK

14. Techint Group

15. U.S. Steel Corporation

16.Steel Authority of India Ltd.

17.Bridon International Ltd.

18.N.V. Bekaert SA

19.Leggett & Platt Incorporated.

20.Rio Tinto

21.BHP

22.Kobe Steel Ltd.

23.Tree Island Industries Ltd.

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Conclusion:

The global Iron and Steel Market, valued at USD 1689.64 billion in 2023, is poised for growth, reaching approximately USD 2238.47 billion by 2030, driven by a 4.1% annual increase. This growth is underpinned by robust demand in construction, automotive, and infrastructure sectors, where iron and steel play a critical role. Despite challenges such as fluctuating raw material prices, emerging technologies like electric arc furnace production and advancements in automation offer significant opportunities. Asia Pacific is leading market growth due to increased investments in infrastructure, while North America and Europe are also contributing through their substantial construction and automotive activities. The market's future expansion is supported by rising global demand for sustainable construction practices and ongoing technological innovations.

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