Nigeria Steel Rebars Market size is anticipated to grow at a CAGR of 7.2% during 2024-2030

In terms of End-Use, Construction segment has gained traction and leads the highest revenue share in Nigeria Steel Rebars Market – 6Wresearch

By End-Use, construction sector in Nigeria is expected to experience significant growth in the coming years, driving demand for steel rebar. Factors such as rapid urbanization, government infrastructure projects, and investments in real estate contribute to this trend. Consequently, the construction industry emerges as the primary driver behind the projected high growth rate in Nigeria's steel rebar market.

According to 6Wresearch, Nigeria Steel Rebars Market size is anticipated to grow at a CAGR of 7.2% during 2024-2030. The industrial and manufacturing sector in Nigeria is anticipated to experience significant growth in the upcoming years, owing to the various government initiatives like the National Policy on Industry 4.0 and Nigeria Vision 2030 which are expected to drive the demand for steel rebars within the industrial sector, particularly for constructing vital infrastructure for the industrial development.

The emergence of smart cities in Lagos and Ambuja is poised to drive the need for mild steel and deformed steel rebar in Nigeria. This is due to the substantial presence of multiple participants in the steel fabrication industry, predominantly dedicated to producing finished steel products, particularly emphasizing the production of steel rebars in the nation.

According to Shubhamdeep, Senior Research Analyst, 6Wresearch, Deformed Steel holds the largest share of revenue in 2023 within the types category as these are particularly well-suited for residential and commercial construction, and this aligns with the 5.2% growth observed in the residential sector.

The Nigeria Steel Rebars Market (2024-2030) report provides an in-depth analysis with 15 figures and 10 tables, covering 76 pages. The report comprehensively covers the market by type and by end-use. The report provides a detailed as well as unbiased analysis of the ongoing drivers, opportunities/high growth areas, and trends of the sector which are projected to support the stakeholders to align as well as devise their market strategies as per the latest and future market dynamics.