Steel Rebar Market Growth Forecast Shows USD 170 Billion Volume by 2024

MarketStudyReport.com adds a new Steel Rebar Market research report that provides a detailed market overview as well as industry analysis for / of companies, manufacturers and distributors covering data on gross margin, cost structure, consumption value, sale price and more.

With increasing investments in infrastructure development and refurbishment projects, steel rebar market is expected to grow at a commendable rate over 2017-2024. The governments of numerous countries have been striving to encourage the implementation of new construction projects by providing sufficient subsidies and deploying favorable rules and regulations, thereby propelling steel rebar industry trends.

Steel Rebar Market size is estimated to surpass USD 170 billion by 2024; according to a new research report.

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Increasing disposable incomes and a consequent change in consumer lifestyles has led to increasing investments in housing projects, that has subsequently impelled steel rebar market share. In addition to housing projects, investments are also being made in public infrastructure development projects such as roads, highways, and energy buildings like hydropower and geothermal power plants. In 2016, public infrastructure covered 60% of steel rebar market share, fueled by extensive funding in the construction of floor slabs, bridges, and roads.

Favorable foreign direct investment (FDI) policies are one the prominent reasons behind the thriving industrial sector. Many public and private companies have also been striving to work on industrial infrastructural development to construct new production plants. The growing involvement of the government as well as non-government organizations in the improvement of the industrial sector will augment steel rebar market size over the years ahead.

The product landscape of steel rebar market is inclusive of deformed and mild products. Deformed steel rebar industry is predicted to register an annual growth rate of more than 4.5% over 2017-2024, owing to the product?s increasing use for constructing columns, roads, floor slabs, and bridges. In fact, deformed steel rebar possesses several beneficial properties such as high durability, excellent corrosion resistance, and better tensile strength, thus validating the increasing preference this material enjoys.

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In 2016, Europe accounted for 15% of steel rebar market share, owing to the favorable involvement of the regional governments in public infrastructure development. Say for instance, the governments of UK and Slovakia have allocated quite some funding to strengthen their transport infrastructure. In addition to this, the region has been experiencing growing investments in the renovation of hospitals, schools, and hotels, that would impel Europe steel rebar industry outlook over the coming timeframe. Asia Pacific will also influence the growth of global steel rebar market and is slated to register a CAGR of 5% over 2017-2024, pertaining to the escalating product demand for residential building construction and refurbishment.

In order to gain an edge over their rivals, well-known players in steel rebar market have been adopting business growth strategies such as mergers and acquisitions. Some of the leading giants in steel rebar industry are Essar, Gerdau, ArcelorMittal, Jindal, Acerinox, Daido, Nippon Steel & Sumitomo Metal Corporation, and Tata.

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