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Long Steel Market Hit a CAGR of 4.1% to Reach $731,934 Million by 2030

08-25-2021 04:11 AM CET | Industry, Real Estate & Construction

Press release from: Allied Market Research

/ PR Agency: Allied Market Research
Long Steel Market

Long Steel Market

Growth of the construction sector in the residential and commercial sectors has led to a favorable market for long steel goods in order to fulfill the need for housing from a fast-increasing population. Furthermore, new construction industry trends such as Lean Construction, Building Information Modeling (BIM), and Green Buildings have expanded the importance of prefabrication and modularization in construction, driving the demand for the long steel market or long steel goods market higher.

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The global long steel market size was valued at $476,213 million in 2020, and is projected to reach $731,934 million by 2030, registering a CAGR of 4.1% from 2021 to 2030.

Long steel is an important component of the building and construction industry, and its market is expanding as demand from the infrastructure and construction industries grows. Builders and construction organizations are increasingly using it to construct buildings and other infrastructure projects. The long steel industry offers fresh prospects for growth due to new metro rail projects, dedicated freight lanes, and the repair and upgrading of highway and railway bridges.

Key Market Players

Arcelor Mittal
Baowu Steel Group Corporation Limited
Gerdau S.A.
HeSteel Group Company Limited
Hyundai Steel Co., Ltd
Nippon Steel Corporation
Nucor Corporation
POSCO Corporation
Ternium S.A.
Votorantim S.A.

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Key Market Segmentation

By Process

Basic Oxygen Furnace
Electric Arc Furnace

By Product Type

Rebar
Wire Rod
Merchant Bar
Others

By Application

Construction
Industrial
Others

By Region

North America
Europe
Asia-Pacific
LAMEA

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of Market Research Reports and Business Intelligence Solutions. AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domains.

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