Steel Rebar Market is expected to reach USD 323.68 Billion by 2030

Steel Rebar Market size was valued at USD 230.03 Bn. in 2023 and the total Steel Rebar Market revenue is expected to grow at 5 % from 2024 to 2030, reaching nearly USD 323.68 Bn. The growth of the construction sector, the rising demand for reinforced concrete structures, and the investments by the government in infrastructure development are the major factors driving the growth of the market.

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V - The Factors Influencing Market Growth and Opportunities

The market of steel rebar is expected to gain salient popularity during the forecast period owing to the increasing demand for high strength reinforced concrete in residential, commercial and industrial construction projects. The boom in highways, bridges, tunnels and high-rise buildings is driving the growth for robust, corrosion resistant steel rebars.

In developing economies, the government has been toiling to expedite the market growth through some infrastructural initiatives. With the increase in smart cities, transportation network cities and energy [projects], steel rebar consumption will be raised amidst heavy investments from countries like China, India and the US," it added.

Segmentation Analysis

There are some market segments based on type, process and application in the global steel rebar market.

Type: The market comprises deformed and mild steel rebars. Among the types, deformed steel rebars account for significant share owing to the features of better bonding strength as compared to round bars and greater resistance to slippage making it suitable for use in reinforced concrete.

Applicability: Steel rebars are the most widely used iron bars in the construction sector; hence, it includes residential buildings, companies, and factories. The majority of the market share belongs to infrastructure applications including bridges, highways and tunnels.

Country-Level Analysis

U.S.: Government investments promoting infrastructure modernization are helping to drive the U.S. steel rebar market. Corrosion-resistant rebars are in demand in coastal and high humidity regions.

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Germany: High-quality rebars are being thrown into Germany, driven by the development of sustainable and energy-efficient buildings. The strong automotive and industrial sectors in the country also drive the demand in the market.

China: With steel rebars used as a common construction material, China's demand is growing driven by urbanization, real estate activities, and government-funded infrastructure projects. In recent years, the market dynamics are further impacted by the country move toward green construction materials.

India - Smart city, metro rail and Highway developments are putting steel rebar demand for India ישיבת 01/10/2023 There is also a push in residential construction through the government "Housing for All" scheme.

Competitor Analysis

The steel rebar market is characterized by a large number of developments, allowing market leaders to gain a competitive edge through expansion, innovation in terms of capacity, mergers, and acquisitions. Leading companies include:

ArcelorMittal- One of the worlds leading Steel Producers, ArcelorMittal has invested in High Strength and Corrosion Resistant Rebar

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Nippon Steel Corporation: A pioneer in steel manufacturing technology, Nippon Steel has also made its presence felt in the Asian and European markets.

Tata Steel - Tata Steel is now working towards environment friendly and high durability rebars for India's growing infrastructure needs.

Gerdau S.A.: A major force in South America, Gerdau is expanding its assets in Brazil and deepening its footprint in the U.S. with acquisitions.

POSCO: High-Performance Steel Rebars with High Strength and Durability-POSCO

Press Release Conclusion

The global steel rebar market is expected to grow at a healthy pace in the coming years, fueled by increasing investments in infrastructure, continuous urbanization and technological development in the field of rebar production. Global demand for high-performance steel rebars will sustain as governments worldwide ramp up initiatives that find a balance between sustainable and resilient construction. According to a recent report, the global steel rebar market is anticipated to be USD 379.5 billion by 2030, witnessing a CAGR of 6.81%, with many industry trends and the global construction business benefiting steel rebar producers.

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