Steel market to grow by 1.78% Y-O-Y from 2022 to 2023: Upsurge in consumption of high-strength steel will drive growth - Technavio

NEW YORK, Feb. 8, 2023 /PRNewswire/ -- Steel market insights -

• Vendors: 15+, Including Ansteel Group Corp. Ltd., ArcelorMittal SA, Baosteel Group Corp., Beijing Jianlong Heavy Industry Group Co. Ltd., Beijing Shougang Co. Ltd., China Baowu Steel Group Corp. Ltd., HBIS Group Co. Ltd., Hebei Jingye Group, Hyundai Steel Co., JFE Holdings Inc., JSW STEEL Ltd., Liuzhou Iron and Steel Co. Ltd., Nippon Steel Corp., NLMK Group, Nucor Corp., POSCO holdings Inc., Shagang Group Inc., Steel Authority of India Ltd., Tata Steel Ltd., and Benxi Steel Group Co. Ltd. among others
• Coverage: Key drivers, major trends, and challenges; customer and vendor landscape; vendor product insights and recent developments; key vendors; and market positioning of vendors
• Segments: End-user (construction, machinery, transportation, metal goods, and others), type (flat steel and long steel), and geography (APAC, Europe, North America, Middle East and Africa, and South America)

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The steel market report provides critical information and factual data, with a qualitative and
quantitative study of the market based on market drivers and limitations as well as future
prospects.

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In 2017, the steel market was valued at 1,653.03 million tons. From a regional perspective, APAC held the largest market share, valued at 1,212.58 million tons. The steel market size is estimated to grow by USD 207.46 million T from 2022 to 2027 at a CAGR of 2.17% according to Technavio.

Steel market - Customer landscape
To help companies evaluate and develop growth strategies, the report outlines –

• Key purchase criteria
• Adoption rates
• Adoption lifecycle
• Drivers of price sensitivity
• For highlights on customer landscape analysis, download a sample!

Steel market - Vendor insights

The growing competition in the market is compelling vendors to adopt various growth strategies such as promotional activities and spending on advertisements to improve the visibility of their services. Technavio report analyzes the market's competitive landscape and offers information on several market vendors including -
 

• ArcelorMittal SA: The company offers steel for the automotive, mobility, construction, and energy industries.
• Baosteel Group Corp: The company offers steel such as carbon steel, stainless steel, and special steel.
• Beijing Jianlong Heavy Industry Group Co. Ltd: The company offers steel products such as steel bars, wires, and forgings.

Steel market – Market dynamics

Major drivers – 

• Upsurge in consumption of high-strength steel
• Corrosion resistance and excellent mechanical properties
• Growing demand from the construction industry

KEY challenges – 

• Excess production capacity
• Growing preference for carbon fiber in automotive applications
• Stringent government regulations

Drivers, & Challenges have an impact on market dynamics and can impact
businesses. Find some insights from a sample report!

What are the key data covered in this Steel Market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the steel market between 2023 and 2027
• Precise estimation of the size of the steel market and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the steel market across APAC, Europe, North America, Middle East and Africa, and South America
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of steel market vendors

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Table of Contents

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by End-user
• Exhibit 06: Executive Summary – Chart on Market Segmentation by Type
• Exhibit 07: Executive Summary – Chart on Incremental Growth
• Exhibit 08: Executive Summary – Data Table on Incremental Growth
• Exhibit 09: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 10: Parent market
• Exhibit 11: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 12: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 13: Market segments

• 3.3 Market size 2022

• 3.4 Market outlook: Forecast for 2022-2027 
• Exhibit 14: Chart on Global - Market size and forecast 2022-2027 (million t)
• Exhibit 15: Data Table on Global - Market size and forecast 2022-2027 (million t)
• Exhibit 16: Chart on Global Market- Year-over-year growth 2022-2027 (%)
• Exhibit 17: Data Table on Global Market- Year-over-year growth 2022-2027 (%)

4 Historic Market Size

• 4.1 Global steel market 2017 - 2021 
• Exhibit 18: Historic Market Size – Data Table on Global steel market 2017 - 2021 (million t)

• 4.2 End-user Segment Analysis 2017 - 2021 
• Exhibit 19: Historic Market Size – End-user Segment 2017 - 2021 (million t)

• 4.3 Type Segment Analysis 2017 - 2021 
• Exhibit 20: Historic Market Size – Type Segment 2017 - 2021 (million t)

• 4.4 Geography Segment Analysis 2017 - 2021 
• Exhibit 21: Historic Market Size – Geography Segment 2017 - 2021 (million t)

• 4.5 Country Segment Analysis 2017 - 2021 
• Exhibit 22: Historic Market Size – Country Segment 2017 - 2021 (million t)

5 Five Forces Analysis

• 5.1 Five forces summary 
• Exhibit 23: Five forces analysis - Comparison between 2022 and 2027

• 5.2 Bargaining power of buyers 
• Exhibit 24: Chart on Bargaining power of buyers – Impact of key factors 2022 and 2027

• 5.3 Bargaining power of suppliers 
• Exhibit 25: Bargaining power of suppliers – Impact of key factors in 2022 and 2027

• 5.4 Threat of new entrants 
• Exhibit 26: Threat of new entrants – Impact of key factors in 2022 and 2027

• 5.5 Threat of substitutes 
• Exhibit 27: Threat of substitutes – Impact of key factors in 2022 and 2027

• 5.6 Threat of rivalry 
• Exhibit 28: Threat of rivalry – Impact of key factors in 2022 and 2027

• 5.7 Market condition 
• Exhibit 29: Chart on Market condition - Five forces 2022 and 2027

6 Market Segmentation by End-user

• 6.1 Market segments 
• Exhibit 30: Chart on End-user - Market share 2022-2027 (%)
• Exhibit 31: Data Table on End-user - Market share 2022-2027 (%)

• 6.2 Comparison by End-user 
• Exhibit 32: Chart on Comparison by End-user
• Exhibit 33: Data Table on Comparison by End-user

• 6.3 Construction - Market size and forecast 2022-2027
• Exhibit 34: Chart on Construction - Market size and forecast 2022-2027 (million t)
• Exhibit 35: Data Table on Construction - Market size and forecast 2022-2027 (million t)
• Exhibit 36: Chart on Construction - Year-over-year growth 2022-2027 (%)
• Exhibit 37: Data Table on Construction - Year-over-year growth 2022-2027 (%)

• 6.4 Machinery - Market size and forecast 2022-2027
• Exhibit 38: Chart on Machinery - Market size and forecast 2022-2027 (million t)
• Exhibit 39: Data Table on Machinery - Market size and forecast 2022-2027 (million t)
• Exhibit 40: Chart on Machinery - Year-over-year growth 2022-2027 (%)
• Exhibit 41: Data Table on Machinery - Year-over-year growth 2022-2027 (%)

• 6.5 Transportation - Market size and forecast 2022-2027
• Exhibit 42: Chart on Transportation - Market size and forecast 2022-2027 (million t)
• Exhibit 43: Data Table on Transportation - Market size and forecast 2022-2027 (million t)
• Exhibit 44: Chart on Transportation - Year-over-year growth 2022-2027 (%)
• Exhibit 45: Data Table on Transportation - Year-over-year growth 2022-2027 (%)

• 6.6 Metal Goods - Market size and forecast 2022-2027
• Exhibit 46: Chart on Metal Goods - Market size and forecast 2022-2027 (million t)
• Exhibit 47: Data Table on Metal Goods - Market size and forecast 2022-2027 (million t)
• Exhibit 48: Chart on Metal Goods - Year-over-year growth 2022-2027 (%)
• Exhibit 49: Data Table on Metal Goods - Year-over-year growth 2022-2027 (%)

• 6.7 Others - Market size and forecast 2022-2027
• Exhibit 50: Chart on Others - Market size and forecast 2022-2027 (million t)
• Exhibit 51: Data Table on Others - Market size and forecast 2022-2027 (million t)
• Exhibit 52: Chart on Others - Year-over-year growth 2022-2027 (%)
• Exhibit 53: Data Table on Others - Year-over-year growth 2022-2027 (%)

• 6.8 Market opportunity by End-user 
• Exhibit 54: Market opportunity by End-user (million t)

7 Market Segmentation by Type

• 7.1 Market segments 
• Exhibit 55: Chart on Type - Market share 2022-2027 (%)
• Exhibit 56: Data Table on Type - Market share 2022-2027 (%)

• 7.2 Comparison by Type 
• Exhibit 57: Chart on Comparison by Type
• Exhibit 58: Data Table on Comparison by Type

• 7.3 Flat steel - Market size and forecast 2022-2027
• Exhibit 59: Chart on Flat steel - Market size and forecast 2022-2027 (million t)
• Exhibit 60: Data Table on Flat steel - Market size and forecast 2022-2027 (million t)
• Exhibit 61: Chart on Flat steel - Year-over-year growth 2022-2027 (%)
• Exhibit 62: Data Table on Flat steel - Year-over-year growth 2022-2027 (%)

• 7.4 Long steel - Market size and forecast 2022-2027
• Exhibit 63: Chart on Long steel - Market size and forecast 2022-2027 (million t)
• Exhibit 64: Data Table on Long steel - Market size and forecast 2022-2027 (million t)
• Exhibit 65: Chart on Long steel - Year-over-year growth 2022-2027 (%)
• Exhibit 66: Data Table on Long steel - Year-over-year growth 2022-2027 (%)

• 7.5 Market opportunity by Type 
• Exhibit 67: Market opportunity by Type (million t)

8 Customer Landscape

• 8.1 Customer landscape overview 
• Exhibit 68: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

9 Geographic Landscape

• 9.1 Geographic segmentation 
• Exhibit 69: Chart on Market share by geography 2022-2027 (%)
• Exhibit 70: Data Table on Market share by geography 2022-2027 (%)

• 9.2 Geographic comparison 
• Exhibit 71: Chart on Geographic comparison
• Exhibit 72: Data Table on Geographic comparison

• 9.3 APAC - Market size and forecast 2022-2027
• Exhibit 73: Chart on APAC - Market size and forecast 2022-2027 (million t)
• Exhibit 74: Data Table on APAC - Market size and forecast 2022-2027 (million t)
• Exhibit 75: Chart on APAC - Year-over-year growth 2022-2027 (%)
• Exhibit 76: Data Table on APAC - Year-over-year growth 2022-2027 (%)

• 9.4 Europe - Market size and forecast 2022-2027
• Exhibit 77: Chart on Europe - Market size and forecast 2022-2027 (million t)
• Exhibit 78: Data Table on Europe - Market size and forecast 2022-2027 (million t)
• Exhibit 79: Chart on Europe - Year-over-year growth 2022-2027 (%)
• Exhibit 80: Data Table on Europe - Year-over-year growth 2022-2027 (%)

• 9.5 North America - Market size and forecast 2022-2027
• Exhibit 81: Chart on North America - Market size and forecast 2022-2027 (million t)
• Exhibit 82: Data Table on North America - Market size and forecast 2022-2027 (million t)
• Exhibit 83: Chart on North America - Year-over-year growth 2022-2027 (%)
• Exhibit 84: Data Table on North America - Year-over-year growth 2022-2027 (%)

• 9.6 Middle East and Africa - Market size and forecast 2022-2027 
• Exhibit 85: Chart on Middle East and Africa - Market size and forecast 2022-2027 (million t)
• Exhibit 86: Data Table on Middle East and Africa - Market size and forecast 2022-2027 (million t)
• Exhibit 87: Chart on Middle East and Africa - Year-over-year growth 2022-2027 (%)
• Exhibit 88: Data Table on Middle East and Africa - Year-over-year growth 2022-2027 (%)

• 9.7 South America - Market size and forecast 2022-2027
• Exhibit 89: Chart on South America - Market size and forecast 2022-2027 (million t)
• Exhibit 90: Data Table on South America - Market size and forecast 2022-2027 (million t)
• Exhibit 91: Chart on South America - Year-over-year growth 2022-2027 (%)
• Exhibit 92: Data Table on South America - Year-over-year growth 2022-2027 (%)

• 9.8 China - Market size and forecast 2022-2027
• Exhibit 93: Chart on China - Market size and forecast 2022-2027 (million t)
• Exhibit 94: Data Table on China - Market size and forecast 2022-2027 (million t)
• Exhibit 95: Chart on China - Year-over-year growth 2022-2027 (%)
• Exhibit 96: Data Table on China - Year-over-year growth 2022-2027 (%)

• 9.9 India - Market size and forecast 2022-2027
• Exhibit 97: Chart on India - Market size and forecast 2022-2027 (million t)
• Exhibit 98: Data Table on India - Market size and forecast 2022-2027 (million t)
• Exhibit 99: Chart on India - Year-over-year growth 2022-2027 (%)
• Exhibit 100: Data Table on India - Year-over-year growth 2022-2027 (%)

• 9.10 Japan - Market size and forecast 2022-2027
• Exhibit 101: Chart on Japan - Market size and forecast 2022-2027 (million t)
• Exhibit 102: Data Table on Japan - Market size and forecast 2022-2027 (million t)
• Exhibit 103: Chart on Japan - Year-over-year growth 2022-2027 (%)
• Exhibit 104: Data Table on Japan - Year-over-year growth 2022-2027 (%)

• 9.11 US - Market size and forecast 2022-2027
• Exhibit 105: Chart on US - Market size and forecast 2022-2027 (million t)
• Exhibit 106: Data Table on US - Market size and forecast 2022-2027 (million t)
• Exhibit 107: Chart on US - Year-over-year growth 2022-2027 (%)
• Exhibit 108: Data Table on US - Year-over-year growth 2022-2027 (%)

• 9.12 Russia - Market size and forecast 2022-2027
• Exhibit 109: Chart on Russia - Market size and forecast 2022-2027 (million t)
• Exhibit 110: Data Table on Russia - Market size and forecast 2022-2027 (million t)
• Exhibit 111: Chart on Russia - Year-over-year growth 2022-2027 (%)
• Exhibit 112: Data Table on Russia - Year-over-year growth 2022-2027 (%)

• 9.13 Market opportunity by geography 
• Exhibit 113: Market opportunity by geography (million t)

10 Drivers, Challenges, and Trends

• 10.1 Market drivers

• 10.2 Market challenges

• 10.3 Impact of drivers and challenges 
• Exhibit 114: Impact of drivers and challenges in 2022 and 2027

• 10.4 Market trends

11 Vendor Landscape

• 11.1 Overview

• 11.2 Vendor landscape 
• Exhibit 115: Overview on Criticality of inputs and Factors of differentiation

• 11.3 Landscape disruption 
• Exhibit 116: Overview on factors of disruption

• 11.4 Industry risks 
• Exhibit 117: Impact of key risks on business

12 Vendor Analysis

• 12.1 Vendors covered 
• Exhibit 118: Vendors covered

• 12.2 Market positioning of vendors 
• Exhibit 119: Matrix on vendor position and classification

• 12.3 Ansteel Group Corp. Ltd. 
• Exhibit 120: Ansteel Group Corp. Ltd. - Overview
• Exhibit 121: Ansteel Group Corp. Ltd. - Product / Service
• Exhibit 122: Ansteel Group Corp. Ltd. - Key offerings

• 12.4 ArcelorMittal SA 
• Exhibit 123: ArcelorMittal SA - Overview
• Exhibit 124: ArcelorMittal SA - Business segments
• Exhibit 125: ArcelorMittal SA - Key news
• Exhibit 126: ArcelorMittal SA - Key offerings
• Exhibit 127: ArcelorMittal SA - Segment focus

• 12.5 Baosteel Group Corp. 
• Exhibit 128: Baosteel Group Corp. - Overview
• Exhibit 129: Baosteel Group Corp. - Product / Service
• Exhibit 130: Baosteel Group Corp. - Key offerings

• 12.6 Beijing Jianlong Heavy Industry Group Co. Ltd.
• Exhibit 131: Beijing Jianlong Heavy Industry Group Co. Ltd. - Overview
• Exhibit 132: Beijing Jianlong Heavy Industry Group Co. Ltd. - Product / Service
• Exhibit 133: Beijing Jianlong Heavy Industry Group Co. Ltd. - Key offerings

• 12.7 Benxi Steel Group Co. Ltd. 
• Exhibit 134: Benxi Steel Group Co. Ltd. - Overview
• Exhibit 135: Benxi Steel Group Co. Ltd. - Product / Service
• Exhibit 136: Benxi Steel Group Co. Ltd. - Key offerings

• 12.8 China Baowu Steel Group Corp. Ltd. 
• Exhibit 137: China Baowu Steel Group Corp. Ltd. - Overview
• Exhibit 138: China Baowu Steel Group Corp. Ltd. - Product / Service
• Exhibit 139: China Baowu Steel Group Corp. Ltd. - Key offerings

• 12.9 HBIS Group Co. Ltd. 
• Exhibit 140: HBIS Group Co. Ltd. - Overview
• Exhibit 141: HBIS Group Co. Ltd. - Product / Service
• Exhibit 142: HBIS Group Co. Ltd. - Key offerings

• 12.10 Hebei Jingye Group 
• Exhibit 143: Hebei Jingye Group - Overview
• Exhibit 144: Hebei Jingye Group - Product / Service
• Exhibit 145: Hebei Jingye Group - Key offerings

• 12.11 Hyundai Steel Co. 
• Exhibit 146: Hyundai Steel Co. - Overview
• Exhibit 147: Hyundai Steel Co. - Product / Service
• Exhibit 148: Hyundai Steel Co. - Key offerings

• 12.12 JFE Holdings Inc. 
• Exhibit 149: JFE Holdings Inc. - Overview
• Exhibit 150: JFE Holdings Inc. - Business segments
• Exhibit 151: JFE Holdings Inc. - Key news
• Exhibit 152: JFE Holdings Inc. - Key offerings
• Exhibit 153: JFE Holdings Inc. - Segment focus

• 12.13 JSW STEEL Ltd. 
• Exhibit 154: JSW STEEL Ltd. - Overview
• Exhibit 155: JSW STEEL Ltd. - Product / Service
• Exhibit 156: JSW STEEL Ltd. - Key offerings

• 12.14 Liuzhou Iron and Steel Co. Ltd. 
• Exhibit 157: Liuzhou Iron and Steel Co. Ltd. - Overview
• Exhibit 158: Liuzhou Iron and Steel Co. Ltd. - Product / Service
• Exhibit 159: Liuzhou Iron and Steel Co. Ltd. - Key offerings

• 12.15 Nippon Steel Corp. 
• Exhibit 160: Nippon Steel Corp. - Overview
• Exhibit 161: Nippon Steel Corp. - Business segments
• Exhibit 162: Nippon Steel Corp. - Key offerings
• Exhibit 163: Nippon Steel Corp. - Segment focus

• 12.16 NLMK Group 
• Exhibit 164: NLMK Group - Overview
• Exhibit 165: NLMK Group - Business segments
• Exhibit 166: NLMK Group - Key offerings
• Exhibit 167: NLMK Group - Segment focus

• 12.17 Nucor Corp. 
• Exhibit 168: Nucor Corp. - Overview
• Exhibit 169: Nucor Corp. - Business segments
• Exhibit 170: Nucor Corp. - Key news
• Exhibit 171: Nucor Corp. - Key offerings
• Exhibit 172: Nucor Corp. - Segment focus

13 Appendix

• 13.1 Scope of the report

• 13.2 Inclusions and exclusions checklist 
• Exhibit 173: Inclusions checklist
• Exhibit 174: Exclusions checklist

• 13.3 Currency conversion rates for US$ 
• Exhibit 175: Currency conversion rates for US$

• 13.4 Research methodology 
• Exhibit 176: Research methodology
• Exhibit 177: Validation techniques employed for market sizing
• Exhibit 178: Information sources

• 13.5 List of abbreviations 
• Exhibit 179: List of abbreviations

About Us
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

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