Vancouver, Oct. 19, 2023 (GLOBE NEWSWIRE) -- The global long steel market size is expected to reach USD 808.32 Billion at a steady CAGR of 3.6% in 2032, according to latest analysis by Emergen Research. Steady global long steel market revenue growth can be attributed to rapid growth of the automotive industry globally. Long steel products, including wire rods, find extensive application in the automotive industry for manufacturing fasteners, automotive shock absorbers, wire fencings, springs, chains, wire ropes, bearings, wire meshes, cables, and tire cord, among others. Also, merchant bars, such as round bars, are used in the manufacture of a varying range of products such as from car axles to tent pegs due to various versatile characteristics. Furthermore, cold rolled round bars are crucial in applications (e.g. frameworks and braces) requiring high quality surface finish.
Download FREE Sample PDF here @ https://www.emergenresearch.com/request-sample/706
Rising focus by governments across the globe on infrastructure development is a significant factor driving long steel market growth. Various projects driven by rising public spending programs based on digital infrastructure comprising inter-city rail and transportation systems, ultra-high voltage power transmission, and new-energy vehicle (or NEV in China) charging stations, among others, are expected to gain rapid momentum going ahead. These are some key factors expected to continue to support market growth over the forecast period.
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 526.74 Billion |
| CAGR (2023–2032) | 3.6% |
| Revenue forecast in 2032 | USD 808.32 Billion |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2023–2032 |
| Quantitative units | Revenue in USD Billion and CAGR in % from 2023 to 2032 |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Production process, product type, application, distribution channel, and region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, UK, France, Italy, Spain, Sweden, BENELUX, China, India, Japan, South Korea, Brazil, Saudi Arabia, UAE, South Africa, Israel |
| Key companies profiled | Nucor Corporation, Gerdau SA, Tata Steel Limited, Steel Dynamics Inc., ArcelorMittal SA, POSCO, Ansteel Group Corporation Limited, Nippon Steel Corporation, Mechel PAO, and Acerinox SA. |
| Customization scope | 10 hours of free customization and expert consultation |
Click to Purchase this Report at an Exclusively Discounted Rate @ https://www.emergenresearch.com/request-discount/706
MAJOR COMPANIES and Competitive Landscape
The global long steel market is moderately fragmented, with a number of small- and medium-sized companies accounting for major revenue share. Major companies have well-established facilities and enter in acquisitions and mergers, and strategic agreements, and engage in various research and development activities and initiatives to develop and deploy new and more efficient technologies and products in the long steel market. Some prominent players operating in the long steel market are:
- Nucor Corporation
- Gerdau SA
- Tata Steel Limited
- Steel Dynamics Inc.
- ArcelorMittal SA
- POSCO
- Ansteel Group Corporation Limited
- Nippon Steel Corporation
- Mechel PAO
- Acerinox SA.
Strategic Development
In April 2021, TimkenSteel Corporation, which is a firm producing tailored alloy steel products, announced signing of a purchase contract with Daido Steel Co. Ltd. As per the contract, TimkenSteel Corporation will sell its production facility in China for around USD 7.0 million.
In December 2019, Gerdau Aços Longos, which is a subsidiary of Gerdau SA, made an announcement about the acquisition of Silat (Siderúrgica Latino Americana), which is a company manufacturing long steel products. The yearly manufacturing capacity of Silat is 600,000 tons of products made of long steel, comprising primarily wire rods and rebars.
Direct Order Can Be Placed Through This Link [Exclusive Copy] @ https://www.emergenresearch.com/select-license/706
Some Key Highlights From the Report
- In April 2021, TimkenSteel Corporation, which is a firm producing tailored alloy steel products, declared the signing of a purchase contract with Daido Steel Co. Ltd. As per the contract, TimkenSteel Corporation will sell its production facility in China for around USD 7.0 million.
- Merchant bars are particularly used in joist manufacturing, light commercial construction applications, commercial/industrial fabrication, and in heavy equipment (such as trailers) production processes.
- Electric arc furnace process for steel production involves use of recyclable materials such as scrap metals, therefore resulting in lower pollution and reduced amount of waste generation as compared to other processes. The process leads to resource and energy savings, as well as offers considerable advantages in terms of impact on the environment in a more cost-effective way.
- Long steel products such as steel tubes are widely used in the oil & gas industry. These are used to construct concrete pilings, manufacture bearing casings and conveyor belt rollers, which find wide application in the said industry.
- Long steel market in North America accounted for a significant robust revenue share in 2020, attributed to increasing growth of automotive and construction industries in countries in the region. In addition, increasing investment in development of infrastructure such as for roads and bridges is spurring growth of the market growth in the region.
Browse Full Report Description + Research Methodology + Table of Content + Infographics @ https://www.emergenresearch.com/industry-report/long-steel-market
Emergen Research has segmented the global long steel market on the basis of production process, product type, application, distribution channel, and region:
- Production Process Outlook (Revenue, USD Billion; 2019–2032)
- Electric Arc Furnace
- Basic Oxygen Furnace
- Product Type Outlook (Revenue, USD Billion; 2019–2032)
- Wire Rod
- Rebar
- Rail
- Merchant Bar
- Others
- Application Outlook (Revenue, USD Billion; 2019–2032)
- Industrial
- Construction
- Railways
- Others
- Distribution Channel Outlook (Revenue, USD Billion; 2019–2032)
- Direct
- Indirect
- Regional Outlook (Revenue, USD Billion; 2019–2032)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- U.K.
- France
- Italy
- Spain
- Sweden
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- India
- Japan
- South Korea
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Rest of MEA
- North America
Curated Reports You Shouldn't Miss: Dive In Now!
Industrial Packaging Market, By Product Type (Drums, IBC, Sacks), By Technology (Injection Molding, Extrusion, Others), By Application (Chemical, Pharmaceutical, Food & Beverage, Building & Construction), By Material, and By Region Forecast to 2030
Dewatering Equipment Market By Product Type (Sludge Dewatering Equipment, Plastic Dewatering Equipment, Paper Dewatering Equipment), By Technology (Belt Presses, Centrifuges, Drying Beds, Filter Presses, Vacuum Filters, Sludge Lagoons), By Application (Industrial [Refineries, Mining, Chemical, Petroleum, Pharmaceutical, Food & Beverage, Textile], Municipal [Commercial, Residential]), and By Region Forecast to 2027
FRP Vessels Market By Fiber Type (Carbon, Glass, Aramid), By Resin (Polyester, Epoxy, Polyurethane), By Distribution Channel (Online, Offline), By Industry Vertical (Automotive & Transportation, Chemicals, Oil & Gas, Water & Wastewater), and By Region Forecast to 2027
Peristaltic Pumps Market By Product Type (Peristaltic Hose Pumps, Peristaltic Tube Pumps), By Discharge Capacity (Up to 30 psi, 30–50 psi, 50–100 psi, 100–200 psi, Above 200 psi), By Industry Vertical (Medical, Food & Beverage, Mining, Chemical Processing, Water & Wastewater Treatment, Oil & Gas, Pulp & Paper, Paints & Coatings), and By Region Forecast to 2027
Siding Market By Application (Residential, Non-residential), By Material Type (Wood, Vinyl, Fiber Cement, Bricks, Concrete, Others), and By Region, Forecasts to 2027
About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy.
Contact Us:
Eric Lee
Corporate Sales Specialist
Emergen Research | Web: https://www.emergenresearch.com/
Direct Line: +1 (604) 757-9756
E-mail: sales@emergenresearch.com
Explore Our Japanese Version: Long Steel Market
Explore Our Blogs and Insights Section: https://www.emergenresearch.com/insights
Read our Press Release @ https://www.emergenresearch.com/press-release/global-long-steel-market
