Steel Long Products Market Share, Growth Factors, Industry Analysis and Forecast 2023-2028

IMARC Group, a leading market research company, has recently releases report titled "Steel Long Products Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028", The study provides a detailed analysis of the industry, including the global Steel long products market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

Report Highlights:

How big is the steel long products market?

Market Size in 2022 - US$ 547.46 Billion
Market Forecast in 2028 - US$ 774.73 Billion
Growth rate (2023 to 2028) - CAGR of 5.87%
Base Year of the Analysis - 2022
Forecast Period - 2023-2028

What are Steel long products?

Steel long products refer to the items manufactured using billets and blooms used in various industries. They include bars, wire, tubes, hot rolled bars, rods, rebar, railway rails, and several forms of steel structural sections and girders. Steel long products exhibit toughness, tensile strength, elasticity, durability, and malleability properties and improve overall shelf life. These items can easily absorb an excessive amount of heat energy and provide enhanced stability in extreme weather conditions. In addition to this, compared to iron derivatives, steel long products offer design flexibility and can efficiently be molded in various shapes with multiple dimensions and extreme purity. As a result, these items find widespread applications across several sectors, such as automotive, construction, industrial, and power generation.

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What are the growth prospects and trends in the steel long products industry?

The extensive utilization of these items as important components in building activities, owing to the increasing residential and commercial constructions, is primarily driving the steel long products market. Besides this, the escalating demand for these derivatives, on account of their durability, lightweight, and high-strength characteristics that aid in strengthening structural integrity, is further augmenting the market growth. Moreover, the growing popularity of steel long products in springs, spokes, washers, seat hops, clutch, and brake pedal wires in the automotive industry is also catalyzing the global market. Apart from this, the rising usage of rebars as tensile devices for the reinforcement of concrete in road and drainage construction is acting as another significant growth-inducing factor. Additionally, the integration of artificial intelligence (AI) to classify and identify defects in the manufacturing process and offer predictive maintenance and quality control is also stimulating the market growth. Furthermore, the elevating requirement for these items in rail and other structural derivatives, as they offer stronger corrosion resistance and higher tensile strength, is anticipated to propel the steel long products market over the forecasted period.

Who are the key players operating in the industry?

The report covers the major market players including:

• 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.

Key Market Segmentation:

The report has segmented the steel long products market on the basis of breakup by type, application and region.

Breakup by Type:

• Rebars
• Wire Rods
• Tubes
• Sections

Breakup by Application:

• Construction
• Automotive and Aerospace
• Railway and Highway
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
• Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Turkey, South Africa, Others)

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