Steel Rebars Market | Growing Demand from the Construction Industry to Boost Market Growth | Technavio

17 October 2020

The global steel rebars market size is poised to grow by 148.22 million MT during 2020-2024, progressing at a CAGR of over 7% throughout the forecast period, according to the latest report by Technavio. The report offers an up-to-date analysis regarding the current market scenario, latest trends and drivers, and the overall market environment. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. Download a Free Sample of REPORT with COVID-19 Crisis and Recovery Analysis.

Growth in population and economic development of countries has increased the number of construction projects worldwide. This is evident in many developing and developed countries such as India, China, Japan, South Korea, and the US. Modern buildings and infrastructure increasingly use steel beams such as steel rebars owing to their longer service life, excellent workability, and high fatigue strength. Therefore, the growth in the construction industry will increase the demand for steel rebars during the forecast period.

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Report Highlights:

  • The major steel rebars market growth came from the residential segment in 2019. This is due to the rise in the number of civil construction projects across the world.
  • APAC was the largest market for steel rebars in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. This is attributed to increasing investments by foreign companies to set up their production facilities in developing countries such as India.
  • The global steel rebars market is fragmented. ArcelorMittal SA, Baosteel Group Corp., Commercial Metals Co., EVRAZ Plc, Gerdau SA, HBIS Group Co. Ltd., Hyundai Steel Co., Nucor Corp., Shagang Group Inc., and Tata Steel Ltd. are some of the major market participants. To help clients improve their market position, this steel rebars market forecast report provides a detailed analysis of the market leaders.
  • As the business impact of COVID-19 spreads, the steel rebars market 2020-2024 is expected to have negative growth. As the pandemic spreads in some regions and plateaus in other regions, we continue to revaluate the impact on businesses and update our report forecasts.

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Increasing use of secondary steel will be a key market trend

Iron reserves are depleting across the world, which has increased the cost of raw materials as well as the production cost of steel. Besides, the replacement of vehicles and machines and the demolition of older buildings has significantly increased the generation of steel scrap across the world. These factors have increased the use of steel scrap in the production of steel rebars. Moreover, producing steel rebars from steel scrap is more cost-effective when compared to manufacturing steel from raw materials. This trend will have a positive influence on the growth of the global steel rebars market during the forecast period.

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Steel Rebars Market 2020-2024: Key Highlights

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will assist steel rebars market growth during the next five years
  • Estimation of the steel rebars market size and its contribution to the parent market
  • Predictions on upcoming trends and changes in consumer behavior
  • The growth of the steel rebars market
  • Analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of steel rebars market vendors

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Residential - Market size and forecast 2019-2024
  • Commercial - Market size and forecast 2019-2024
  • Public infrastructure - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

  • Overview

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • APAC - Market size and forecast 2019-2024
  • Europe - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Overview
  • Landscape disruption
  • Competitive Scenario

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • ArcelorMittal SA
  • Baosteel Group Corp.
  • Commercial Metals Co.
  • EVRAZ Plc
  • Gerdau SA
  • HBIS Group Co. Ltd.
  • Hyundai Steel Co.
  • Nucor Corp.
  • Shagang Group Inc.
  • Tata Steel Ltd.

Appendix

Scope of the report
Currency conversion rates for US$
Research methodology
List of abbreviations

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Source: businesswire.com