The global long steel market is anticipated to grow at a CAGR of 4.1% during the forecast period. The global long steel market growth is driven by major factors such as the rise in urbanization and infrastructure projects which include railways and bridges which generate demand for high-strength long steel. Apart from these, the increase in investments in infrastructure activities is anticipated to provide growth opportunities for the long steel market. For instance, in December 2021, European Investment Bank (EIB) launched the Green Rail Investment Platform a new initiative to assist public and private investments in rail projects. European Investment Bank investments in lower-carbon transport (rail, metros, tramways, and alternative fuels) have already increased from $6.83 billion in 2019 to $7.33 billion in 2020, an increase of almost 10%. The investment by EIB accelerated the development activities which further lead to the adoption of long steel.
Furthermore, companies are expanding their business and investing in infrastructure, which will provide growth in the market. For instance, in March 2021, Nucor Corporation expanded its business with the development of a new tube mill in the Steel Gallatin Sheet mill in Kentucky. Which has made the company expand its production capacity and add the galvanizing line. Furthermore, in November 2021, ArcelorMittal will invest $796.7 million in its long steel business by 2024.
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Market Coverage
- The market number available for – 2023-2031
- Base year- 2023
- Forecast period- 2024-2031
Segment Covered-
- By Product Type
- By Production
- By End-User Industry
Regions Covered-
- North America
- Europe
- Asia-Pacific
- Rest of the World
Competitive Landscape- Arcelor Mittal, Baowu Steel Group Corporation Limited, Gerdau S.A., HeSteel Group Company Limited, Hyundai Steel Co., Ltd, Nippon Steel Corporation, Nucor Corporation, POSCO Corporation, Ternium S.A., and Votorantim S.A., among others.
Long Steel Market Report by Segment
By Product Type
- Rebar
- Wire Rod
- Merchant Bar
- Others
By Production Process
- Electric Arc Furnace
- Basic Oxygen Furnace
By End-User Industry
- Railways
- Construction
- Industrial
- Others
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Long Steel Market Report by Region
North America
- United States
- Canada
Europe
- UK
- Germany
- Spain
- France
- Italy
- Rest of Europe
Asia-Pacific
- India
- China
- Japan
- South Korea
- Rest of APAC
Rest of the World
- Latin America
- Middle East and Africa
Company Profiles
- Acerinox S.A.
- Ansteel Group Corp. Ltd.
- Commercial Metals Co.
- Daido Steel
- Dyneon GmbH
- EVRAZ PLC
- JFE Steel Corp.
- Mechel Pao
- Novolipetsk Steel (NLMK)
- Nucor Corp.
- Outokumpu Oyj
- Posco Corp.
- Shagang Group
- Steel Dynamics, Inc.
- Tata Steel, Ltd.
- Ternium S.A.
- Votorantim S.A
- Wuhan Iron and Steel Corp.
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