The global steel rebar market size is expected to reach USD
348.6 billion by 2025, accelerating at a CAGR of 7.2% over the forecast period,
according to a new report by Grand View Research, Inc. Increasing efforts by
governments of various countries to improve infrastructure are projected to
provide ample growth opportunities to market vendors.
In infrastructure sector, steel is required for
transport networks including rail tracks, tunnels, and buildings such as train
stations, fueling stations, airports, and ports. Reinforcing bars account for
around 60% of steel usage in these applications. Rebars are also used in
highway bridges to improve the strength of the structure. Some of the recent
examples include Champlain Bridge, Montreal; Hong Kong–Zhuhai Macau Bridge, China;
and Riverwalk, Brisbane, Australia.
Government initiatives and huge infrastructure
projects in emerging and developed economies are projected to assist the market
growth. In 2018, the Indian government permitted 100% FDI in different
construction projects including the development of roads, bridges, townships,
commercial/residential premises, resorts, hotels, hospitals, educational
institutes, cities, and regional-level infrastructure. As per the Japan Iron
and Steel Federation, the demand for steel in the country is anticipated to
reach 3 million tons for construction related to Olympics 2020. Rising
industrial activities in the construction sector ahead of the 2020 Olympics are
projected to boost the demand for steel products in Japan.
The growing demand has forced local manufacturers to
increase steel reinforcement bar prices at a regional level. Increasing use of
fiber-reinforced polymer (FRP) rebars is projected to create a critical impact
on the industry. Infrastructure segment accounted for 26.0% of the market
share, in terms of volume, in 2018. In order to increase the life span of
structures, various organizations, research institutes, and private industries
are working on solutions to reduce corrosion cost. This has increased the demand
for FRP rebars.
These bars can reduce the maintenance and life cycle
costs and improve the life of structures. The product has observed slow but a
positive demand in countries such as the U.S. and Canada. Market vendors are
concentrating on new client acquisitions through various government
infrastructure projects. For instance, as per the Steel Authority of India
(SAIL), it supplied around 35,400 metric tons of steel for the construction of
Bogibeel bridge in Assam, India, in 2018. The bridge is 4.94 km long and SAIL
supplied around 50% of the raw materials for the construction. The supplied
material included structural parts, plates, and TMT rebars.
For full research report on Steel Rebar Market visit here:
https://www.grandviewresearch.com/industry-analysis/steel-rebar-market
Further key findings from the report
suggest:
- In terms of revenue, residential construction segment is
anticipated to reach USD 146.1 billion by 2025 owing to government funding
and incentives for housing sector globally
- In terms of volume, commercial segment is projected to grow at a
CAGR of 3.0% over the forecast period owing to an increase in the number
of high-rise commercial buildings
- Asia Pacific accounted for the highest volume share of 71.2% in
2018 with the expansion of construction sector in India and China
- In terms of revenue, the Middle East & Africa is projected to
grow at a CAGR of 4.5% from 2019 to 2025 on account of increasing focus on
non-oil & gas sectors such as construction and automotive
- ArcelorMittal; Tata Steel; Steel Authority of India (SAIL); Shagang
Group; Nucor Corporation; and POSCO are some of the key players in the
steel rebar market.
Get request sample of this report
here: https://www.grandviewresearch.com/industry-analysis/steel-rebar-market/request/rs1
Grand View Research has segmented the global steel
rebar market on the basis of application and region:
Steel Rebar Application Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- Residential
- Commercial
- Infrastructure
Steel Rebar Regional Outlook
(Volume, Kilotons; Revenue, USD Million, 2014 - 2025)
- North America
- U.S.
- Canada
- Europe
- Germany
- Turkey
- Russia
- Asia Pacific
- China
- India
- Japan
- Central and South America
- Brazil
- MEA
- UAE
- Saudi Arabia
About
Grand View Research
Grand View Research, Inc. is a U.S. based
market research and consulting company, registered in the State of California
and headquartered in San Francisco. The company provides syndicated research
reports, customized research reports, and consulting services. To help clients
make informed business decisions, we offer market intelligence studies ensuring
relevant and fact-based research across a range of industries, from technology
to chemicals, materials and healthcare.
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