Global Steel Market (2020-2026) | Outlook, Size, Share & COVID-19 IMPACT

Global steel market report thoroughly covers the market by Product types, Types, Applications, and key regions including the Asia Pacific, Latin America, Middle East, Europe, North America, and Africa. Global steel market outlook report provides an unbiased and detailed analysis of the ongoing Global steel market trends, opportunities/high growth areas, and market drivers which would help the stakeholders to devise and align their market strategies according to the current and future market dynamics.

Global steel market Synopsis

Global steel market is expected to witness growth over the upcoming years. According to Global Steel Association, global steel production and consumption growth are rapidly increasing. Expansion in Global manufacturing activity, resilient growth in China driven by supply-side reforms, pick up the commodity prices and favorable financing conditions globally are the growth recovery primary driven. Even because of the steel market the growth of India’s GDP is also increasing as consumption-led growth is influenced by government policies and investments. Growing development of infrastructure coupled with surging construction activities is driving the Global Steel Market Growth. Rising demand for automobiles and growth in the transportation sector is also propelling the development of the market. Moreover, the Global outbreak of COVID-19 has a worse impact on worldwide business. However, the market and the economy are expected to regain growth soon.

According to 6Wresearch, the Global Steel Market size is anticipated to register growth during 2020-2026. The growing population coupled with improvement in the standard of living is driving the Global Steel Market Share. Market data as per the steel market trends suggest that steel consumption growth stalled in most economies in 2018 and that the 2017 recovery may be losing importance. Downside risks to the outlook include increased trade frictions and a weakening global economy, which suggests that without further action large structural imbalances are likely to persist. At present, China is the leading region in steel production and with the highest revenue-generating country followed by India, Australia, Japan, and South Korea. The growing demand for renewable and sustainable energy sources is driving the Global Steel Market Value. 

The prominent players identified in this market include Ansteel Group Corporation Limited, ArcelorMittal S.A, China Baowu Steel Group Corporation Limited, HBIS Group, Hyundai Steel Company, POSCO, Shougang Corporation, Tata Steel Europe Ltd, Tata Steel Group, United States Steel Corporation, etc.

Market Analysis by application

Based on applications, the building, and construction segment is projected to be the fastest-growing and the largest end-use sector of the steel market during the forecasted period because it helps in the construction of the building, railway tracks, roads, bridges, factories, and other engineering structure. It not only lowers the construction cost but also reduces the long-term maintenance costs of buildings. Based on type, Flat steel is used in the development of infrastructure in the energy sector. It is also used in oil, gas, nuclear, solar, wind, and hydro energy plants.

Market Analysis by Region

The Asia Pacific accounted for the largest share of global steel market, followed by Europe and North America. China is one of the major consumers of flat steel in the Asia Pacific region. In the research, it was found that the global steel market has been segmented into flat and long steel

Market Analysis by Type

The flat steel segment accounted for the largest share of global steel market. The prestressing steel market segment accounted for the second-largest share of the Global steel market Share.

Key Highlights of The Reports

• Global Steel Market Outlook
• Global Steel Market Overview
• Global Steel Market Forecast
• Historical Data for the period 2016-2019 and Market Forecast of Global Steel Market Revenues until 2026
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Type
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Application
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Product Type
• Historical Data for the period 2016-2019 and Market Forecast of the market until 2026, By Regions
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Latin America Steel Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for North America Steel Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Middle East Steel Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Africa Steel Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Global Steel Market
• Historical Data for the period 2016-2019 and Market Forecast until 2026 for Middle East Steel Market
• Market Drivers and Restraints
• Global Steel Market Trends
• Industry Life Cycle
• Porter’s Five Force Analysis
• Market Opportunity Assessment
• Global Steel Market Share, By Players
• Competitive Benchmarking

Markets Covered

The report provides a detailed analysis of the following market segments:

By Type:

• Flat Steel
• Long Steel

By Product Type:

• Structural Steel
• Prestressing Steel
• Bright Steel
• Welding Wire/Rod
• Iron Steel Wire
• Ropes
• Braids

By Application:

• Building and Construction
• Electrical Appliances
• Metal Products
• Domestic Appliances
• Mechanical Equipment
• Automotive
• Others

By Regions:

• Asia Pacific
• North America
• Latin America
• Europe
• Middle East
• Africa