PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1787087
PUBLISHER: Global Industry Analysts, Inc. | PRODUCT CODE: 1787087
Global Long Steel Products Market to Reach US$928.7 Billion by 2030
The global market for Long Steel Products estimated at US$719.4 Billion in the year 2024, is expected to reach US$928.7 Billion by 2030, growing at a CAGR of 4.3% over the analysis period 2024-2030. Rebars, one of the segments analyzed in the report, is expected to record a 4.8% CAGR and reach US$424.0 Billion by the end of the analysis period. Growth in the Wire Rods segment is estimated at 4.7% CAGR over the analysis period.
The U.S. Market is Estimated at US$196.0 Billion While China is Forecast to Grow at 8.0% CAGR
The Long Steel Products market in the U.S. is estimated at US$196.0 Billion in the year 2024. China, the world's second largest economy, is forecast to reach a projected market size of US$191.9 Billion by the year 2030 trailing a CAGR of 8.0% over the analysis period 2024-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 1.8% and 3.4% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 2.5% CAGR.
Global Long Steel Products Market - Key Trends & Drivers Summarized
What Are Long Steel Products and Why Are They Critical to Infrastructure and Industry?
Long steel products refer to steel materials that are long in shape and typically used in construction, engineering, and heavy industry applications. These include rebar (reinforcing bars), wire rods, structural sections (angles, channels, beams), rails, and merchant bars. They are distinguished from flat steel products and are predominantly produced via electric arc furnaces or integrated blast furnace-basic oxygen furnace routes. Long steel is a foundational material in the construction of buildings, bridges, roads, tunnels, industrial machinery, railways, and utility infrastructure due to its strength, ductility, and versatility.
These products play a pivotal role in emerging economies undergoing rapid urbanization and infrastructure development, as well as in mature markets where industrial renovation and energy transition projects are gaining momentum. Rebar is essential for reinforced concrete in civil construction, while wire rods are used extensively in the manufacture of fasteners, fencing, and wire mesh. Structural sections and beams are core components of frameworks in high-rise buildings and industrial sheds. The long steel segment is thus integral to global economic growth and remains closely tied to construction cycles, infrastructure budgets, and manufacturing output levels.
What Trends and Innovations Are Shaping the Long Steel Products Industry?
The long steel products market is being reshaped by key trends such as green steel manufacturing, digitalization in production, and shifts in global construction dynamics. One of the most transformative trends is the rise of sustainable steelmaking, driven by decarbonization mandates and carbon neutrality goals. Steelmakers are increasingly investing in low-carbon technologies such as hydrogen-based direct reduced iron (DRI), electric arc furnaces powered by renewable energy, and carbon capture systems to produce "green" long steel products. These innovations are being prioritized especially in Europe and developed Asia, where ESG compliance is tightly linked to competitive advantage and regulatory incentives.
On the demand side, global infrastructure initiatives such as the U.S. Infrastructure Investment and Jobs Act, China's Belt and Road Initiative, and India’s National Infrastructure Pipeline are generating long-term demand for long steel products across bridges, railways, highways, and energy facilities. Additionally, prefabricated construction, modular buildings, and seismic-resistant designs are increasing the use of advanced long steel sections and customized rebars. Another emerging trend is the integration of smart technologies and Industry 4.0 principles in steel mills-enabling predictive maintenance, automated rolling processes, and real-time quality monitoring-which enhances productivity and reduces operational costs. Supply chain digitalization and scrap recycling optimization are also gaining traction, as manufacturers look to improve sustainability and material efficiency across the value chain.
What Is Driving the Growth of the Global Long Steel Products Market?
The growth in the global long steel products market is driven by several factors, including robust infrastructure development, rising urbanization, and increasing investments in renewable energy and transportation sectors. Government-led infrastructure projects in emerging economies such as India, Brazil, Indonesia, and parts of Africa are major demand catalysts, requiring large quantities of rebar, wire rods, and beams. In developed economies, efforts to modernize aging infrastructure and shift toward clean energy are stimulating demand for structural steel in wind turbines, transmission towers, and electric vehicle production facilities.
Another key growth driver is the expansion of residential and commercial construction fueled by population growth, housing shortages, and urban redevelopment initiatives. The demand for earthquake- and corrosion-resistant long steel materials is also rising in disaster-prone regions. Furthermore, the increased use of electric arc furnace (EAF)-based steelmaking, which relies on scrap recycling, is improving supply chain resilience and supporting circular economy goals. Strategic partnerships between construction firms and steel manufacturers, along with government incentives for green construction, are fostering innovation and market expansion. The steady integration of digital tools in production, logistics, and demand forecasting is also enhancing responsiveness and competitiveness, enabling the global long steel products market to scale sustainably amid evolving regulatory and industrial landscapes.
SCOPE OF STUDY:
The report analyzes the Long Steel Products market in terms of units by the following Segments, and Geographic Regions/Countries:
Segments:
Product (Rebars, Wire Rods, Sections, Tubes); End-Use (Building & Construction, Automotive & Aerospace, Railways & Highway, Others)
Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.
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