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The growth of real estate, construction, or infrastructure and the automotive sector is driving the demand for the market.
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Market Summary Market Size – USD 844.97 Billion in 2019, Market Growth - CAGR of 2.3%, Market Trends – High demand of steel in the construction and automotive sector. The global Steel market is forecast to reach USD 1,018.58 Billion by 2027 and will grow at a rate of around 2.3% during the period 2020-2027, according to a new report by Reports and Data. The major factors contributing to this growth is the increase in demand in the construction and aerospace industry. • Further key findings from the report suggest • Consumption of structural steel would be the highest during 2020-27 with a CAGR of 2.5% due to its extensive use in construction sector. The USA is responsible for major consumption of structural steel, and the upcoming FIFA World Cup in 2022 in Qatar would drive significant amount of demand for the product in this region. • Infrastructure & Construction segment and Automotive sectors are majorly driving steel demand and this trend will persist during the forecast period with a growth rate of 2.5% and 2.4%, respectively. www.reportsanddata.com
Market Summary Key Players: ArcelorMittal, NSSMC, Hebei Iron and Steel Group, Baosteel, Wuhan Iron and Steel Group, Posco, Jiangsu Shagang, Tata Steel Group, Hyundai Steel Company and JFE Steel Corporation. Segmentation: • Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2027) • Carbon Steel • Alloy Steel • Stainless Steel • Tool Steel • Product Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2027) • Structural steel products • Shipbuilding • Pipes • Petrochemical Wells • Wires • Fittings Get a Free Sample PDF Report to understand our report before you purchase:https://www.reportsanddata.com/sample-enquiry-form/3009 www.reportsanddata.com
Market Summary • Application Type Outlook (Volume, Kilo Tons; Revenue, USD Billion; 2020-2027) • Infrastructure and Construction • Equipment • Automobile Sector • Domestic and Electric Appliances • Defense Regional Outlook for Steel Market analyses the following geographies: North America (United States, Canada, and Mexico) Europe (Germany, France, UK, Russia, and Italy) Asia-Pacific (China, Japan, Korea, India, and Southeast Asia) South America (Brazil, Argentina, Colombia, etc.) Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa) Any Query or Discount? Ask our Expert @https://www.reportsanddata.com/discount-enquiry-form/3009 www.reportsanddata.com
The report emphasizes the following key questions: Q.1.What are the most lucrative and promising growth prospects for the market? Q.2.Which sectors are expected to deliver a high growth rate and which industry aspects come into play in this advancement? Q.3.Which geographies are estimated to exhibit the highest growth and the underlying causes? Q.4.Which factors are impacting the future of the market and what are the driving factors? Q.5.What are the hurdles and challenges curtailing the industry’s growth in the forecast period? www.reportsanddata.com
About Us Reports and Data 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 client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Chemicals, Power, and Energy. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market. Reports and Data has a strong base of experienced analysts from varied areas of expertise. Contact Us: John Watson Head of Business Development Reports And Data | Web: www.reportsanddata.com Direct Line: +1-212-710-1370 E-mail: sales@reportsanddata.com
