Long Steel Products Industry Data Book - Steel Rebar, Carbon Steel Pipe Fittings, Steel Pipes Tubes and Steel Wire Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030

The global long steel products market is anticipated to be driven by the need to replace structurally deficient infrastructure. Reconstruction of bridges is projected to remain a key focus area for most of the developed countries.

Long Steel Products Industry Data Book Coverage-

Long Steel Products Industry Data Book Coverage Snapshot

Access the Global Long Steel Products Industry Data Book, 2023 to 2030, compiled with details like market sizing information forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies.

Steel Rebar Market Growth Trends

The global steel rebar market size is expected to reach USD 415.79 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.9% from 2022 to 2030. Increasing investments in infrastructure revamping projects and construction activities are anticipated to drive the market over the forecast period.

Various infrastructure redevelopment projects dedicated to fueling economic growth across the world are projected to augment the demand for steel rebar during the forecast period. For instance, the Spanish government announced the Recovery, Transformation, and Resilience Plan to stimulate the economy from the crisis caused by the pandemic. Under the recovery plan, Spain is expected to receive USD 74.26 billion as a grant and USD 74.80 billion as a loan from the Recovery and Resilience Facility (RRF). Out of the total amount to be received, 15% is expected to be spent on infrastructure development projects in the country.

In addition, rising investments in residential and non-residential construction activities across developing economies are projected to drive the market across the forecast period. For instance, in February 2022, Godrej Properties announced plans to make an investment of around INR 7,500 crore (~USD 937.3 million) in the next 1-1.5 years in the development and acquisition of new housing and commercial real estate projects in Mumbai, Delhi, Bengaluru, and Pune.

The Asia Pacific held the largest revenue share in 2021 and the trend is expected to continue over the coming years. The infrastructure development projects announced by various governments of the region are anticipated to boost the demand during the forecast period. For instance, in March 2022, the Ministry for Road Transport and Highways, India inaugurated 19 National Highway projects worth USD 183.9 million in the states of Rajasthan and Haryana.

Carbon Steel Pipe Fittings Market Growth Trends

The global carbon steel pipe fittings market size is expected to reach USD 10.39 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 4.7% from 2022 to 2030. Moderate oil gas exploration activities along with the rise in demand for petrochemical products are expected to assist the market growth. `

Investments associated with oil gas exploration activities are expected to boost the demand for carbon steel pipe fittings in transportation and storage applications. For instance, In May 2022, Oil Natural Gas Corporation (ONGC) announced an investment of USD 4.00 billion for exploration activities over the next 4 years. This is an increase of 150% in exploration expenditure compared to USD 2.70 billion from 2019 to 2022.

Investments in water infrastructure in emerging countries such as India are anticipated to drive demand for carbon steel fittings during the forecast period.In 2019, the Government of India announcedan investment of USD 270 billion over the next 15 years for the expansion of water infrastructure. The projects under this investment include Namami Gange, river-linking, piped water supply, and Pradhan Mantri Krishi Sichai Yojna.

Demand for fittings in hydro and other energy plants is also anticipated to boost the market growth in the long run. For instance, as reported by International Energy Agency (IEA), India is set to add around 26,000 megawatts (MW) of hydropower facilities by 2030. The installed capacity of hydropower projects was 46,209 MW as of July 2021. Financial aids for infrastructure expansion and flood control are likely to benefit the expansion of such facilities.

Steel Pipes Tubes Market Growth Trends

The global steel pipes tubes market size is anticipated to reach USD 231.1 billion by 2027 registering a CAGR of 6.2%, according to a new report by Grand View Research, Inc. Long-term demand for energy on the global level is anticipated to boost the market growth. According to the EIA, global energy consumption is projected to reach 736 quadrillion BTU by 2040 from 575 quadrillion BTU in 2015, witnessing an increase of 28%. The use of liquid fuels and petroleum is likely to grow from 90 million b/d in 2012 to 1000 million b/d by 2040 on a global level. The growth in demand for these liquid fuels is mainly due to the industrial and transportation sectors.

Steel tubes are used in different applications in the oil gas sector, wherein they are used in conveyor belt rollers, concrete pilings, and bearing casings. Dimensions including straightness, roundness, diameter, and wall thickness are crucial while selecting steel tubes in the oil gas sector. The oil gas application segment is anticipated to remain the dominant application segment over the forecast period. However, with the emergence of the global pandemic, the prices of crude oil tumbled, which directly impacted the industry. In addition, due to the imposed lockdowns and shutdowns, the global oil rig count plummeted over the first quarter of 2020, thereby leading to a decline in demand for steel pipes tubes.

As per the stats released by Baker Hughes, the global rig count in March 2020 was evaluated around 1,964 as compared to 2,213 in March 2019, a year on year (Y-o-Y) decline of nearly -11.3%. The emergence of coronavirus is projected to severely impact the dynamics of the industry over the short-term period. The key application segments including oil gas, automotive transportation, chemicals petrochemicals, and others are projected to observe a negative trajectory in FY 2020 owing to the weakening of macro-economic factors and industrial operations.

Steel Wire Market Growth Trends

The global steel wire market size is expected to reach USD 156.32 billion by 2030, according to a new report by Grand View Research, Inc. It is expected to expand at a compound annual growth rate (CAGR) of 4.7% from 2022 to 2030. The growth of the construction industry, coupled with rising investments in the power energy sectors, is anticipated to augment market growth during the forecast period.

Steel wires are elongated, thin, flexible thread-like products, that are drawn through circular-shaped dies from wire rods. Based on material, the carbon steel segment, owing to benefits such as high strength, low cost, and better conductivity, dominates the market with the highest share. These are vital in industrial applications and are used in making cords for reinforcing vehicle tires, prestressed concrete for supporting structures, and suspension bridges.

Steel wire products are extensively used in numerous industries, including construction, automotive, energy, industrial, and agriculture. Construction is expected to maintain its dominance during the forecast period. Surging investments in the industry, especially after the economic downturn due to COVID-19, have aided in product demand. Governments are investing in infrastructural developments to revive their economies, which in turn is anticipated to benefit market growth during the forecast period.

Asia Pacific held the largest market share in 2021. Growing construction spending, increasing power distribution networks, investments in renewable energy, rising crop production, and emphasis on expanding vehicle production are factors anticipated to drive the product demand in the region during the forecast period. Steel wires find application in the power distribution network in electric cables.

Growing emphasis on expansion in electricity production and its distribution, especially in developing economies, is benefiting product demand. For instance, in India, under the Integrated Power Development Program, projects worth INR 308.02 billion (USD 4.12 billion) have been approved as of February 2022 to strengthen the power distribution network in the country.

Order your copy of the Free Sample of “Long Steel Products Industry Data Book - Steel Rebar, Carbon Steel Pipe Fittings, Steel Pipes Tubes and Steel Wire Market Size, Share, Trends Analysis, And Segment Forecasts, 2023 – 2030” Data Book, published by Grand View Research

Competitive Landscape

Key players operating in the long steel products industry are –

• ArcelorMittal
• AWAJI MATERIA CO., LTD.
• Baosteel
• Bassi Luigi C.S.p.A
• Bekaert
• Delcorte
• Erne Fittinga GmbH
• Evraz Plc
• Gerdau S.A.
• Henan Hengxing Science technology Co., Ltd
• Hyundai Steel
• JFE Steel Corporation
• Jindal Steel Power Ltd. (JSPL)
• JSW Steel Limited

Grand View Research’s long steel products Industry data book is a collection of market sizing information forecasts, regulatory data, reimbursement structure, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, all such information is systematically analyzed and provided in the form of presentations and detailed outlook reports on individual areas of research.

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