The Steel Manufacturing Market study analyzes and forecasts the market size across 6 regions and 24 countries for diverse segments including By End-User (Construction, Machinery, Automotive, Metal products, Others), By Type (Flat, Long).
The Steel Manufacturing market remains fundamental for various industries in 2024, serving as a cornerstone of infrastructure development, manufacturing, and economic growth worldwide. Steel, produced through processes such as blast furnaces and electric arc furnaces, offers properties such as strength, versatility, and recyclability, making it indispensable in construction, automotive, machinery, and energy sectors. Market dynamics are driven by factors such as urbanization, industrialization, and infrastructure investment driving demand for steel products. Additionally, advancements in steelmaking technologies, raw material sourcing, and sustainability initiatives contribute to market competitiveness and innovation in the Steel Manufacturing market, fostering efficiency, resilience, and environmental stewardship in steel production.
A significant trend in the steel manufacturing market is the transition towards sustainable production methods. With increasing awareness of environmental concerns and the need to reduce carbon emissions, steel manufacturers are embracing technologies and processes aimed at improving energy efficiency and reducing environmental impact. This includes the adoption of electric arc furnaces (EAFs), which use recycled scrap steel and produce lower emissions compared to traditional blast furnaces. Additionally, advancements in green steel technologies, such as hydrogen-based steelmaking and carbon capture utilization and storage (CCUS), are gaining traction as the industry strives to achieve carbon neutrality. This trend towards sustainable steel production methods is reshaping the market landscape and driving investments in cleaner and more efficient manufacturing processes.
A key driver propelling the steel manufacturing market is the ongoing infrastructure development and construction projects worldwide. As economies grow, urbanization accelerates, and governments invest in infrastructure upgrades, there is a significant demand for steel products across various sectors, including transportation, building construction, and energy infrastructure. Steel, with its strength, durability, and versatility, is a fundamental material in construction projects, ranging from skyscrapers and bridges to highways and railways. Moreover, the rise of emerging markets, urban redevelopment initiatives, and the need for sustainable infrastructure solutions are further fueling the demand for steel, thus stimulating market growth and driving investment in steel manufacturing capacity expansion.
An emerging opportunity within the steel manufacturing market lies in the integration of Industry 4.0 technologies to enhance efficiency, productivity, and competitiveness. As the industry embraces digitalization and automation, there is a growing opportunity to leverage technologies such as artificial intelligence (AI), Internet of Things (IoT), and data analytics to optimize steel manufacturing processes. Smart factories equipped with sensors and connected devices can enable real-time monitoring of equipment performance, predictive maintenance, and quality control, leading to improved operational efficiency and cost savings. Additionally, AI-powered algorithms can optimize production scheduling, raw material utilization, and energy consumption, driving down production costs and enhancing overall competitiveness. By embracing digital transformation and investing in smart manufacturing solutions, steel manufacturers can unlock new growth opportunities and remain at the forefront of innovation in the industry.
By End-user
By Type
Geographical Analysis
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TABLE OF CONTENTS
1 Introduction to 2024 Steel Manufacturing Market
1.1 Market Overview
1.2 Quick Facts
1.3 Scope/Objective of the Study
1.4 Market Definition
1.5 Countries and Regions Analyzed
1.6 Units, Currency, and Conversions
1.7 Industry Value Chain
2 Research Methodology
2.1 Market Size Estimation
2.2 Sources and Research Methodology
2.3 Data Triangulation
2.4 Assumptions and Limitations
3 Executive Summary
3.1 Global Steel Manufacturing Market Size Outlook, $ Million, 2021 to 2030
3.2 Steel Manufacturing Market Outlook by Type, $ Million, 2021 to 2030
3.3 Steel Manufacturing Market Outlook by Product, $ Million, 2021 to 2030
3.4 Steel Manufacturing Market Outlook by Application, $ Million, 2021 to 2030
3.5 Steel Manufacturing Market Outlook by Key Countries, $ Million, 2021 to 2030
4 Market Dynamics
4.1 Key Driving Forces of Steel Manufacturing Market Industry
4.2 Key Market Trends in Steel Manufacturing Market Industry
4.3 Potential Opportunities in Steel Manufacturing Market Industry
4.4 Key Challenges in Steel Manufacturing Market Industry
5 Market Factor Analysis
5.1 Competitive Landscape
5.1.1 Global Steel Manufacturing Market Share by Company (%), 2023
5.1.2 Product Offerings by Company
5.2 Porter’s Five Forces Analysis
6 Growth Outlook Across Scenarios
6.1 Growth Analysis-Case Scenario Definitions
6.2 Low Growth Scenario Forecasts
6.3 Reference Growth Scenario Forecasts
6.4 High Growth Scenario Forecasts
7 Global Steel Manufacturing Market Outlook By Segments
7.1 Steel Manufacturing Market Outlook by Segments
By End-user
Construction
Machinery
Automotive
Metal products
Others
By Type
Flat
Long
8 North America Steel Manufacturing Market Analysis And Outlook To 2030
8.1 Introduction to North America Steel Manufacturing Markets in 2024
8.2 North America Steel Manufacturing Market Size Outlook by Country, 2021-2030
8.2.1 United States
8.2.2 Canada
8.2.3 Mexico
8.3 North America Steel Manufacturing Market size Outlook by Segments, 2021-2030
By End-user
Construction
Machinery
Automotive
Metal products
Others
By Type
Flat
Long
9 Europe Steel Manufacturing Market Analysis And Outlook To 2030
9.1 Introduction to Europe Steel Manufacturing Markets in 2024
9.2 Europe Steel Manufacturing Market Size Outlook by Country, 2021-2030
9.2.1 Germany
9.2.2 France
9.2.3 Spain
9.2.4 United Kingdom
9.2.4 Italy
9.2.5 Russia
9.2.6 Norway
9.2.7 Rest of Europe
9.3 Europe Steel Manufacturing Market Size Outlook By Segments, 2021-2030
By End-user
Construction
Machinery
Automotive
Metal products
Others
By Type
Flat
Long
10 Asia Pacific Steel Manufacturing Market Analysis And Outlook To 2030
10.1 Introduction to Asia Pacific Steel Manufacturing Markets in 2024
10.2 Asia Pacific Steel Manufacturing Market Size Outlook by Country, 2021-2030
10.2.1 China
10.2.2 India
10.2.3 Japan
10.2.4 South Korea
10.2.5 Indonesia
10.2.6 Malaysia
10.2.7 Australia
10.2.8 Rest of Asia Pacific
10.3 Asia Pacific Steel Manufacturing Market size Outlook by Segments, 2021-2030
By End-user
Construction
Machinery
Automotive
Metal products
Others
By Type
Flat
Long
11 South America Steel Manufacturing Market Analysis And Outlook To 2030
11.1 Introduction to South America Steel Manufacturing Markets in 2024
11.2 South America Steel Manufacturing Market Size Outlook by Country, 2021-2030
11.2.1 Brazil
11.2.2 Argentina
11.2.3 Rest of South America
11.3 South America Steel Manufacturing Market size Outlook by Segments, 2021-2030
By End-user
Construction
Machinery
Automotive
Metal products
Others
By Type
Flat
Long
12 Middle East And Africa Steel Manufacturing Market Analysis And Outlook To 2030
12.1 Introduction to Middle East and Africa Steel Manufacturing Markets in 2024
12.2 Middle East and Africa Steel Manufacturing Market Size Outlook by Country, 2021-2030
12.2.1 Saudi Arabia
12.2.2 UAE
12.2.3 Oman
12.2.4 Rest of Middle East
12.2.5 Egypt
12.2.6 Nigeria
12.2.7 South Africa
12.2.8 Rest of Africa
12.3 Middle East and Africa Steel Manufacturing Market size Outlook by Segments, 2021-2030
By End-user
Construction
Machinery
Automotive
Metal products
Others
By Type
Flat
Long
13 Company Profiles
13.1 Company Snapshot
13.2 SWOT Profiles
13.3 Products and Services
13.4 Recent Developments
13.5 Financial Profile
List of Companies
Baosteel Group Corp
Beijing Shougang Co. Ltd
Benxi Steel Group Co. Ltd
China Jianlong Steel Industrial Co. Ltd
Gerdau SA
Hebei Jingye Group
Hyundai Steel Co.
Jiangsu Shagang International Trade Co. Ltd
JSW STEEL Ltd
Nippon Steel Corp
Nucor Corp
POSCO holdings Inc
Steel Authority of India Ltd
Tata Sons Pvt. Ltd
Thyssenkrupp AG
14 Appendix
14.1 Customization Offerings
14.2 Subscription Services
14.3 Related Reports
14.4 Publisher Expertise
By End-user
By Type
Geographical Analysis
The global Steel Manufacturing Market is one of the lucrative growth markets, poised to register a 3.5% growth (CAGR) between 2024 and 2032.
Emerging Markets across Asia Pacific, Europe, and Americas present robust growth prospects.
Baosteel Group Corp, Beijing Shougang Co. Ltd, Benxi Steel Group Co. Ltd, China Jianlong Steel Industrial Co. Ltd, Gerdau SA, Hebei Jingye Group, Hyundai Steel Co., Jiangsu Shagang International Trade Co. Ltd, JSW STEEL Ltd, Nippon Steel Corp, Nucor Corp, POSCO holdings Inc, Steel Authority of India Ltd, Tata Sons Pvt. Ltd, Thyssenkrupp AG
Base Year- 2023; Estimated Year- 2024; Historic Period- 2018-2023; Forecast period- 2024 to 2030; Currency: USD; Volume
3.5