Product Code: MAT0221
The global Steel market is projected to grow at a CAGR of 3.9% by 2033.
“The Steel Market Report 2023-2033”: This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Economic Growth and Infrastructure Development Is Driving the Market
Economic growth is a primary driver of the global steel market. As economies expand, governments and private sectors invest in infrastructure projects like roads, bridges, railways, and buildings. These projects require large quantities of steel, making it an essential material in construction. Additionally, steel is crucial in the development of industries and manufacturing, which further fuels economic growth. The steady demand for steel in infrastructure projects creates stability and growth opportunities for the steel industry, contributing significantly to the overall economic development of a country or region.
Technological Cooperation and Research
Collaborations between steel companies and research institutions drive innovation in steel production and application. Research and development efforts focus on enhancing steel's properties, reducing environmental impacts, and developing novel applications, which keep the steel industry at the forefront of technology and competitiveness.
What Questions Should You Ask before Buying a Market Research Report?
- How is the steel market evolving?
- What is driving and restraining the steel market?
- How will each steel submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2033?
- How will the market shares for each steel submarket develop from 2023 to 2033?
- What will be the main driver for the overall market from 2023 to 2033?
- Will leading steel markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2033 and which geographical region will lead the market in 2033?
- Who are the leading players and what are their prospects over the forecast period?
- What are the steel projects for these leading companies?
- How will the industry evolve during the period between 2023 and 2033? What are the implications of steel projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the steel market?
- Where is the steel market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
You need to discover how this will impact the steel market today, and over the next 10 years:
- Our 352-page report provides 121 tables and 176 charts/graphs exclusively to you
- The report highlights key lucrative areas in the industry so you can target them - NOW
- It contains in-depth analysis of global, regional and national sales and growth
- It highlights for you the key successful trends, changes and revenue projections made by your competitors.
This report tells you TODAY how the steel market will develop in the next 10 years, and in line with the variations in COVID-19 economic recession and bounce. This market is more critical now than at any point over the last 10 years.
Forecasts to 2033 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2033, our new study provides you with recent results, growth rates, and market shares
- You will find original analyses, with business outlooks and developments
- Discover qualitative analyses (including market dynamics, drivers, opportunities, restraints and challenges), cost structure, impact of rising steel prices and recent developments.
This report includes data analysis and invaluable insight into how COVID-19 will affect the industry and your company. Four COVID-19 recovery patterns and their impact, namely, ""V" ", "L", "W" and "U" are discussed in this report.
Segments Covered in the Report:
Market Segment by Production Technology
- Basic Oxygen Furnace
- Electric Arc Furnace
- Open Hearth
Market Segment by Product
- Steel Sheets
- Steel Beams
- Steel Bars
- Other Product
Market Segment by Application
- Building and Infrastructure
- Mechanical & Electrical Equipment
- Automotive
- Metal & Domestic Products
- Other Applications
Market Segment by Type
- Carbon Steel
- Stainless Steel
- Alloy Steel
- Aluminium Steel
- Cobalt Steel
- Other Steel Type
In addition to the revenue predictions for the overall world market and segments, you will also find revenue forecasts for four regional and 20 leading national markets:
North America
Europe
- Germany
- Russia
- Ukraine
- France
- Italy
- Rest of Europe
Asia Pacific
- China
- Japan
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
The report also includes profiles and for some of the leading companies in the Steel Market, 2023 to 2033, with a focus on this segment of these companies' operations.
Leading companies and the potential for market growth:
- Anshan Iron and Steel Group Corporation
- ArcelorMittal S.A
- China Baowu Steel Group
- Delong Steel Group
- Hesteel Group Company Limited
- Hyundai Steel Co., Ltd
- JFE Steel Corporation
- Jiangsu Shagang Group Company Limited
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- Jiangxi Fangda Iron & Steel Group Co Ltd
- Jianlong Group
- Liuzhou Iron & Steel Co., Ltd
- Nucor Corporation
- POSCO
- Shandong Iron and Steel Co., Ltd
- Tata Steel Limited
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Overall world revenue for Steel Market, 2023 to 2033 in terms of value the market will surpass US$1,656.4 billion in 2023, our work calculates. We predict strong revenue growth through to 2033. Our work identifies which organizations hold the greatest potential. Discover their capabilities, progress, and commercial prospects, helping you stay ahead.
How will the Steel Market, 2023 to 2033 report help you?
In summary, our 350+ page report provides you with the following knowledge:
- Revenue forecasts to 2033 for Steel Market, 2023 to 2033 Market, with forecasts for production technology, product, application, and type, each forecast at a global and regional level - discover the industry's prospects, finding the most lucrative places for investments and revenues.
- Revenue forecasts to 2033 for four regional and 20 key national markets - See forecasts for the Steel Market, 2023 to 2033 market in North America, Europe, Asia-Pacific, Latin America and Middle East & Africa. Also forecasted is the market in the US, Canada, Brazil, Germany, France, Ukraine, Italy, China, India, Japan, Russia, and Australia among other prominent economies.
- Prospects for established firms and those seeking to enter the market - including company profiles for 20 of the major companies involved in the Steel Market, 2023 to 2033.
Find quantitative and qualitative analyses with independent predictions. Receive information that only our report contains, staying informed with invaluable business intelligence.
Information found nowhere else
With our new report, you are less likely to fall behind in knowledge or miss out on opportunities. See how our work could benefit your research, analyses, and decisions. Our study is for everybody needing commercial analyses for the Steel Market, 2023 to 2033, market-leading companies. You will find data, trends and predictions.
Table of Contents
1 Report Overview
- 1.1 Objectives of the Study
- 1.2 Introduction to Steel Market
- 1.3 What This Report Delivers
- 1.4 Why You Should Read This Report
- 1.5 Key Questions Answered by This Analytical Report
- 1.6 Who Is This Report for?
- 1.7 Methodology
- 1.7.1 Market Definitions
- 1.7.2 Market Evaluation & Forecasting Methodology
- 1.7.3 Data Validation
- 1.7.3.1 Primary Research
- 1.7.3.2 Secondary Research
- 1.8 Frequently Asked Questions (FAQs)
- 1.9 Associated Reports
- 1.10 About
2 Executive Summary
3 Market Overview
- 3.1 Key Findings
- 3.2 Market Dynamics
- 3.2.1 Market Driving Factors
- 3.2.1.1 Rising Demand for Recycled Steel Pushes Demand for Steel Scrap
- 3.2.1.2 Growing Investments in Infrastructure Sector
- 3.2.1.3 Ongoing Drive for Lighter Weight Vehicles Drives Demand for High Strength Steel
- 3.2.2 Market Restraining Factors
- 3.2.2.1 Meeting Stringent Environmental Regulations and Reducing Carbon Emissions Is a Challenge for the Steel Industry
- 3.2.2.2 Steel Faces Competition from Alternative Materials Like Aluminium, Composites, and Advanced Plastics, Affecting Demand in Specific Sectors
- 3.2.2.3 Changes in Global Supply Chain Dynamics Can Lead to Disruptions in Steel Demand Patterns
- 3.2.3 Market Opportunities
- 3.2.3.1 Upgrading Aging Infrastructure in Developed Economies Drives Steel Consumption for Renovation and Modernization Projects
- 3.2.3.2 Urbanization in Developing Countries to Drive Growth
- 3.2.3.3 Transition towards Net Zero Steel
- 3.3 Porter's Five Forces Analysis
- 3.3.1 Bargaining Power of Suppliers (Medium)
- 3.3.2 Bargaining Power of Buyers (High)
- 3.3.3 Competitive Rivalry (High)
- 3.3.4 Threat from Substitutes (Low)
- 3.3.5 Threat of New Entrants (Low to Medium)
- 3.4 COVID-19 Impact Analysis
- 3.4.1 "V-Shaped Recovery"
- 3.4.2 "U-Shaped Recovery"
- 3.4.3 "W-Shaped Recovery"
- 3.4.4 "L-Shaped Recovery"
- 3.5 PEST Analysis
4 Steel Market Analysis by Production Technology
- 4.1 Key Findings
- 4.2 Production Technology Segment: Market Attractiveness Index
- 4.3 Steel Market Size Estimation and Forecast by Production Technology
- 4.4 Basic Oxygen Furnace
- 4.4.1 Market Size by Region, 2023-2033 (US$ Billion)
- 4.4.2 Market Share by Region, 2023 & 2033 (%)
- 4.5 Electric Arc Furnace
- 4.5.1 Market Size by Region, 2023-2033 (US$ Billion)
- 4.5.2 Market Share by Region, 2023 & 2033 (%)
- 4.6 Open Hearth
- 4.6.1 Market Size by Region, 2023-2033 (US$ Billion)
- 4.6.2 Market Share by Region, 2023 & 2033 (%)
5 Steel Market Analysis by Product
- 5.1 Key Findings
- 5.2 Product Segment: Market Attractiveness Index
- 5.3 Steel Market Size Estimation and Forecast by Product
- 5.4 Steel Sheets
- 5.4.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.4.2 Market Share by Region, 2023 & 2033 (%)
- 5.5 Steel Beams
- 5.5.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.5.2 Market Share by Region, 2023 & 2033 (%)
- 5.6 Steel Bars
- 5.6.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.6.2 Market Share by Region, 2023 & 2033 (%)
- 5.7 Other Product
- 5.7.1 Market Size by Region, 2023-2033 (US$ Billion)
- 5.7.2 Market Share by Region, 2023 & 2033 (%)
6 Steel Market Analysis by Application
- 6.1 Key Findings
- 6.2 Application Segment: Market Attractiveness Index
- 6.3 Steel Market Size Estimation and Forecast by Application
- 6.4 Building and Infrastructure
- 6.4.1 Market Size by Region, 2023-2033 (US$ Billion)
- 6.4.2 Market Share by Region, 2023 & 2033 (%)
- 6.5 Mechanical & Electrical Equipment
- 6.5.1 Market Size by Region, 2023-2033 (US$ Billion)
- 6.5.2 Market Share by Region, 2023 & 2033 (%)
- 6.6 Automotive
- 6.6.1 Market Size by Region, 2023-2033 (US$ Billion)
- 6.6.2 Market Share by Region, 2023 & 2033 (%)
- 6.7 Metal & Domestic Products
- 6.7.1 Market Size by Region, 2023-2033 (US$ Billion)
- 6.7.2 Market Share by Region, 2023 & 2033 (%)
- 6.8 Other Applications
- 6.8.1 Market Size by Region, 2023-2033 (US$ Billion)
- 6.8.2 Market Share by Region, 2023 & 2033 (%)
7 Steel Market Analysis by Type
- 7.1 Key Findings
- 7.2 Type Segment: Market Attractiveness Index
- 7.3 Steel Market Size Estimation and Forecast by Type
- 7.4 Carbon Steel
- 7.4.1 Market Size by Region, 2023-2033 (US$ Billion)
- 7.4.2 Market Share by Region, 2023 & 2033 (%)
- 7.5 Stainless Steel
- 7.5.1 Market Size by Region, 2023-2033 (US$ Billion)
- 7.5.2 Market Share by Region, 2023 & 2033 (%)
- 7.6 Alloy Steel
- 7.6.1 Market Size by Region, 2023-2033 (US$ Billion)
- 7.6.2 Market Share by Region, 2023 & 2033 (%)
- 7.7 Aluminium Steel
- 7.7.1 Market Size by Region, 2023-2033 (US$ Billion)
- 7.7.2 Market Share by Region, 2023 & 2033 (%)
- 7.8 Cobalt Steel
- 7.8.1 Market Size by Region, 2023-2033 (US$ Billion)
- 7.8.2 Market Share by Region, 2023 & 2033 (%)
- 7.9 Other Steel Type
- 7.9.1 Market Size by Region, 2023-2033 (US$ Billion)
- 7.9.2 Market Share by Region, 2023 & 2033 (%)
8 Steel Market Analysis by Region
- 8.1 Key Findings
- 8.2 Regional Market Size Estimation and Forecast
9 North America Steel Market Analysis
- 9.1 Key Findings
- 9.2 North America Steel Market Attractiveness Index
- 9.3 North America Steel Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 9.4 North America Steel Market Size Estimation and Forecast
- 9.5 North America Steel Market Size Estimation and Forecast by Country
- 9.6 North America Steel Market Size Estimation and Forecast by Production Technology
- 9.7 North America Steel Market Size Estimation and Forecast by Product
- 9.8 North America Steel Market Size Estimation and Forecast by Application
- 9.9 North America Steel Market Size Estimation and Forecast by Type
- 9.10 U.S. Steel Market Analysis
- 9.11 Canada Steel Market Analysis
10 Europe Steel Market Analysis
- 10.1 Key Findings
- 10.2 Europe Steel Market Attractiveness Index
- 10.3 Europe Steel Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 10.4 Europe Steel Market Size Estimation and Forecast
- 10.5 Europe Steel Market Size Estimation and Forecast by Country
- 10.6 Europe Steel Market Size Estimation and Forecast by Production Technology
- 10.7 Europe Steel Market Size Estimation and Forecast by Product
- 10.8 Europe Steel Market Size Estimation and Forecast by Application
- 10.9 Europe Steel Market Size Estimation and Forecast by Type
- 10.10 Germany Steel Market Analysis
- 10.11 Ukraine Steel Market Analysis
- 10.12 France Steel Market Analysis
- 10.13 Italy Steel Market Analysis
- 10.14 Russia Steel Market Analysis
- 10.15 Rest of Europe Steel Market Analysis
11 Asia-Pacific Steel Market Analysis
- 11.1 Key Findings
- 11.2 Asia-Pacific Steel Market Attractiveness Index
- 11.3 Asia-Pacific Steel Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 11.4 Asia-Pacific Steel Market Size Estimation and Forecast
- 11.5 Asia-Pacific Steel Market Size Estimation and Forecast by Country
- 11.6 Asia-Pacific Steel Market Size Estimation and Forecast by Production Technology
- 11.7 Asia-Pacific Steel Market Size Estimation and Forecast by Product
- 11.8 Asia-Pacific Steel Market Size Estimation and Forecast by Application
- 11.9 Asia-Pacific Steel Market Size Estimation and Forecast by Type
- 11.10 China Steel Market Analysis
- 11.11 India Steel Market Analysis
- 11.12 Japan Steel Market Analysis
- 11.13 South Korea Steel Market Analysis
- 11.14 Australia Steel Market Analysis
- 11.15 Rest of Asia-Pacific Steel Market Analysis
12 Middle East and Africa Steel Market Analysis
- 12.1 Key Findings
- 12.2 Middle East and Africa Steel Market Attractiveness Index
- 12.3 Middle East and Africa Steel Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 12.4 Middle East and Africa Steel Market Size Estimation and Forecast
- 12.5 Middle East and Africa Steel Market Size Estimation and Forecast by Country
- 12.6 Middle East and Africa Steel Market Size Estimation and Forecast by Production Technology
- 12.7 Middle East and Africa Steel Market Size Estimation and Forecast by Product
- 12.8 Middle East and Africa Steel Market Size Estimation and Forecast by Application
- 12.9 Middle East and Africa Steel Market Size Estimation and Forecast by Type
- 12.10 GCC Steel Market Analysis
- 12.11 South Africa Steel Market Analysis
- 12.12 Rest of Middle East & Africa Steel Market Analysis
13 Latin America Steel Market Analysis
- 13.1 Key Findings
- 13.2 Latin America Steel Market Attractiveness Index
- 13.3 Latin America Steel Market by Country, 2023, 2028 & 2033 (US$ Billion)
- 13.4 Latin America Steel Market Size Estimation and Forecast
- 13.5 Latin America Steel Market Size Estimation and Forecast by Country
- 13.6 Latin America Steel Market Size Estimation and Forecast by Production Technology
- 13.7 Latin America Steel Market Size Estimation and Forecast by Product
- 13.8 Latin America Steel Market Size Estimation and Forecast by Application
- 13.9 Latin America Steel Market Size Estimation and Forecast by Type
- 13.10 Brazil Steel Market Analysis
- 13.11 Mexico Steel Market Analysis
- 13.12 Rest of Latin America Steel Market Analysis
14 Company Profiles
- 14.1 Competitive Landscape, 2022
- 14.2 Strategic Outlook
- 14.3 China Baowu Steel Group
- 14.3.1 Company Snapshot
- 14.3.2 Company Overview
- 14.3.3 Product Benchmarking
- 14.3.4 Strategic Outlook
- 14.4 ArcelorMittal S.A.
- 14.4.1 Company Snapshot
- 14.4.2 Company Overview
- 14.4.3 Financial Analysis
- 14.4.3.1 Net Revenue, 2018-2022
- 14.4.3.2 R&D, 2018-2022
- 14.4.3.3 Regional Revenue Share, 2022 (%)
- 14.4.3.4 Business Segment Revenue Share, 2022 (%)
- 14.4.4 Product Benchmarking
- 14.4.5 Strategic Outlook
- 14.5 Anshan Iron and Steel Group Corporation
- 14.5.1 Company Snapshot
- 14.5.2 Company Overview
- 14.5.3 Product Benchmarking
- 14.6 Jiangsu Shagang Group Company Limited
- 14.6.1 Company Snapshot
- 14.6.2 Company Overview
- 14.6.3 Product Benchmarking
- 14.7 POSCO
- 14.7.1 Company Snapshot
- 14.7.2 Company Overview
- 14.7.3 Financial Analysis
- 14.7.3.1 Net Revenue, 2018-2022
- 14.7.3.2 R&D, 2018-2022
- 14.7.3.3 Regional Revenue Share, 2022 (%)
- 14.7.3.4 Business Segment Revenue Share, 2022 (%)
- 14.7.4 Product Benchmarking
- 14.7.5 Strategic Outlook
- 14.8 Hesteel Group Company Limited
- 14.8.1 Company Snapshot
- 14.8.2 Company Overview
- 14.8.3 Product Benchmarking
- 14.8.4 Strategic Outlook
- 14.9 Jianlong Group
- 14.9.1 Company Snapshot
- 14.9.2 Company Overview
- 14.9.3 Product Benchmarking
- 14.10 Tata Steel Limited
- 14.10.1 Company Snapshot
- 14.10.2 Company Overview
- 14.10.3 Financial Analysis
- 14.10.3.1 Net Revenue, 2018-2022
- 14.10.3.2 R&D, 2018-2022
- 14.10.3.3 Regional Revenue Share, 2022 (%)
- 14.10.3.4 Business Segment Revenue Share, 2022 (%)
- 14.10.4 Product Benchmarking
- 14.10.5 Strategic Outlook
- 14.11 Shandong Iron and Steel Co., Ltd.
- 14.11.1 Company Snapshot
- 14.11.2 Company Overview
- 14.11.3 Product Benchmarking
- 14.12 Delong Steel Group
- 14.12.1 Company Snapshot
- 14.12.2 Company Overview
- 14.12.3 Product Benchmarking
- 14.13 JFE Steel Corporation
- 14.13.1 Company Snapshot
- 14.13.2 Company Overview
- 14.13.3 Financial Analysis
- 14.13.3.1 Net Revenue, 2018-2022
- 14.13.3.2 Business Segment Revenue Share, 2022 (%)
- 14.13.4 Product Benchmarking
- 14.13.5 Strategic Outlook
- 14.14 Nucor Corporation
- 14.14.1 Company Snapshot
- 14.14.2 Company Overview
- 14.14.3 Financial Analysis
- 14.14.3.1 Net Revenue, 2018-2022
- 14.14.3.2 Business Segment Revenue Share, 2022 (%)
- 14.14.4 Product Benchmarking
- 14.14.5 Strategic Outlook
- 14.15 Jiangxi Fangda Iron & Steel Group Co Ltd
- 14.15.1 Company Snapshot
- 14.15.2 Company Overview
- 14.15.3 Product Benchmarking
- 14.16 Liuzhou Iron & Steel Co., Ltd
- 14.16.1 Company Snapshot
- 14.16.2 Company Overview
- 14.16.3 Product Benchmarking
- 14.17 Hyundai Steel Co., Ltd.
- 14.17.1 Company Snapshot
- 14.17.2 Company Overview
- 14.17.3 Financial Analysis
- 14.17.3.1 Net Revenue, 2018-2022
- 14.17.3.2 R&D, 2018-2022
- 14.17.3.3 Regional Revenue Share, 2022 (%)
- 14.17.3.4 Business Segment Revenue Share, 2022 (%)
- 14.17.4 Product Benchmarking
15 Conclusion and Recommendations
- 15.1 Concluding Remarks from
- 15.2 Recommendations for Market Players