Market Research Report
Global Steel Industry (China, India, EU, NAFTA & Japan): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)
|Published by||Koncept Analytics||Product code||963729|
|Published||Content info||102 Pages
Delivery time: 1-2 business days
|Global Steel Industry (China, India, EU, NAFTA & Japan): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)|
|Published: October 12, 2020||Content info: 102 Pages||
The global steel production volume is estimated to reach 2175 million tonnes in 2024, growing at a CAGR of 4.50% for the period spanning from 2020 to 2024. The factors such as rising population growth, growing urban population, growing automobile sector, growing spending on construction and infrastructure projects and growing demand for long steel are expected to drive the market. However, growth of the industry will be challenged by price volatility. A few notable trends include technological advancements, rising demand for stainless steel and rising demand for recycled steel.
The global steel market is expected to grow in future owing to increasing infrastructural activities and rising adoption of steel in automotive, electrical and other end use industries. In terms of geographical areas, China is the major contributors to the global steel production supported by increasing automotive production and growth of electrical appliances. India is the fastest growing market for steel with increasing urbanization, industrialization and infrastructure investments.