The Steel Rebar Market Is Projected To Reach USD 246.3 Billion By The End Of The Forecast Period In 2028 And hence, A Global CAGR Of 4.4% Between 2021-2028
The steel rebar market share held a global market value worth USD 198.7 billion by the end of the period in 2019. During the current period, the market is projected to reach USD 246.3 billion by the end of the forecast period in 2028, and hence, a global CAGR of 4.4% between 2021-2028. There has been an increase in the building & construction activities that are playing a major role in recovering the construction sector and activities in Europe. Similar trends in various global locations will help the steel rebar market share at the global level by the end of the forecast period in 2028.
COVID 19 Analysis
The arrival of the novel coronavirus pandemic has played its role in hampering the growth scenario for the steel rebar market and trends. The global market has been witnessing a huge backlash in terms of marketing, production, functioning, and manufacturing that are causing major disruptions in the demand and supply chain mechanism of the global market during the forecast period that will be ending in 2028. The global market has been witnessing a shortage of skilled labor, raw material, resources, and much more that might have a major challenge for the market to grow and dwell based on the predictions that have been laid by the business analysts for the forecast period of 2021-2028.
The steel rebar market players are collaborating with the key players that are functional in the market and have positive attributes in store for the market operations and growth during the period that will be ending in 2028. The rising investments are putting the production and manufacturing units in a better position for bulk products that will help the steel rebar market to enhance at a global and elaborated market scale.
The steel rebar market analysis shows that there is a considerable surge in non-residential construction activities in global regions like the North American region. The market is witnessing the growth of product portfolios followed by a shift in the market trends towards the enhanced use of higher grades and degrees of steel rebar that is one of the major factors that is expected to drive the growth of the steel rebar industry by the end of the forecast period in 2028.
However, the steel rebar market analysis shows that the market trends are witnessing the birth of various market factors that might restrain the market from growing during the forecast period that will be ending in 2028. The market is witnessing the lack of skilled professionals followed by the lack of awareness that might pose challenges to the market for the period. Knowledge and awareness regarding the product portfolios will push the market and target audience to spend their disposable income in acquiring these market shares and products. However, the unavailability of correct sources of information and unwillingness for investments might challenge the market from growing as per the predictions.
The investment for the expansion of the steel rebar market share is expanding because of the availability of diversified product portfolios followed by multiple uses are the major market factors that are likely to be responsible for strengthening the market positions of these prominent companies in the steel rebar market size. The market players have been on the way to adopt various kinds of organic and inorganic growth strategies, like the new product developments and launches, acquisitions, and merger contracts. These will help in enhancing the position of the market by the end of the period in 2028.
The steel rebar market has been divided all across the globe based on the type, end-users, and region.
Based on the Type
The market has been divided all across the globe based on the type into deformed, mild, and various others (stainless-steel rebar, epoxy-coated rebar, and the European rebar). The size of the mild ranges between 6mm to 50 mm. The largest market share is held by the deformed divided as it holds 54% market value whereas mild dividend holds 30% market share value.
Based on the End-User Industry
The market has been divided all across the globe based on the end-user industry into the commercial construction industry, residential construction industry, infrastructure industry. The largest market share is held by the residential construction industry as it holds 45% market value followed by the infrastructure industry which holds 35% market value.
Based on the Region
The market has been divided worldwide based on the region into the North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region.
The steel rebar market has been divided all across the region based on the region into North American region, Asia-Pacific region, European region, Latin American region, and the Middle East and African region. Being the fastest-emerging region, the largest market share in the global market is held by the Asia-Pacific region owing to the presence of countries like South Korea, Japan, China, and India which are regarded as the main junctions of the automobile, commercial construction, and residential construction and hence drives the market demand in this region. Moreover, increasing urbanization and industrializations are another factor that creates more market demand in this region.
The second-largest market share in the global market is held by the North American region owing to the presence of countries like the US, Canada, and Mexico that has a huge automobile sector and hence drives the market demand in this region. Moreover increasing investment in various power generation projects, oil and gas industry, and construction sites create more market demand. The presence of various major key players also drives the market demand in this region.
The third-largest market share in the global market is held by the European region owing to the presence of a well-established technologically advanced infrastructure that requires more steel rebar and hence creates more growth opportunities in this region. Moreover, increasing investment coupled with increased expenditure in private construction growth drives the market demand in this region.
The Latin American region and the Middle East and African region show the least market share due to the presence of low infrastructure in both these regions. Low per capita income is another contributing factor that restricts the market growth in these regions.
The most prominent major key players in the steel rebar market all across the globe are mentioned below:
These major key players adopt various strategies to endure their market position in the steel rebar market in the global market by going for mergers, and acquisitions, by collaborating, setting up a new joint venture, establishing a partnership, developing a new product line, innovation in the existing product, developing a unique production process, and many others to expand their customer base in the untapped market of the steel rebar market all across the globe.
This global steel rebar market research report includes the following components mentioned below:
This global market research report contains characteristics that drive the growth of the steel rebar market in the global market and the factors that restrict its growth in the global market. The technical analysis in the global market during the forecasted period is mentioned. The impact of COVID 19 on the steel rebar market in the global market is mentioned. The future growth rate in the steel rebar market during the review period is estimated and mentioned.
|Forecast Period||2022 to 2030|
|Historical Data||2019 & 2020|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, End-Use, Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||ArcelorMittal (Luxembourg), Nucor (US), NIPPON STEEL CORPORATION (Japan), NLMK (Russia), Tata Steel (India), JSW (India), SHAGANG GROUP Inc (China), SAIL (India), POSCO (South Korea), HBIS GROUP (China), Gerdau S/A (Brazil), CMC (US), Acerinox S.A. (Spain), DAIDO STEEL Co Ltd (Japan), Steel Dynamics, Inc. (US)|
|Key Market Opportunities||
|Key Market Drivers||
The steel rebar market is anticipated to grow at a higher CAGR of 4.4% in the global market during the forecasted period.
The most prominent major vital players are Tata Steel (India), SAIL (India), ArcelorMittal (Luxembourg), and various others.
The largest market share in the steel rebar market all across the globe is held by the Asia-Pacific region followed by the North American region and European region respectively.
The improvement in the construction industry is in the offing to enhance the market.