Market Size in 2022 | Market Forecast in 2030 | CAGR (in %) | Base Year |
---|---|---|---|
USD 1,677 Million | USD 2,250 Million | 3.7% | 2022 |
FrequentlyAsked Questions
Iron is found in the oxide form in the ores and is involved in iron production. Escalating demand for iron in the construction sector along with the massive use of iron & steel in vehicle production is predicted to embellish the use of iron & steel in a plethora of end-use sectors.
The global iron and steel market growth over forecast period can be owing to a prominent increase in the development of smart cities across the globe.
According to a study, the global iron and steel industry size was $1,677 million in 2022 and is projected to reach $2,250 million by the end of 2030.
The global iron and steel market is anticipated to record a CAGR of nearly 3.7% from 2023 to 2030.
The European continent is set to dominate the global iron and steel industry over the forecasting timeline owing to the presence of established markets in the continent. Moreover, the presence of key players in the continent will prompt an industry surge in Europe in the upcoming years.
The global iron and steel market is led by players such as Shougang Group, Arcelor Mittal S.A., Techint Group, China BaoWu Steel Group Corporation Limited, JSW, Nippon Steel Corporation, NLMK, HBIS Group, Jiangsu Shagang Group, SAIL, POSCO HOLDINGS INC., Tata Steel, JFE Steel Corporation, Nucor Corporation, and the U.S. Steel Corporation.
The global iron and steel market report covers the geographical market along with a comprehensive competitive landscape analysis. It also includes cash flow analysis, profit ratio analysis, market basket analysis, market attractiveness analysis, sentiment analysis, PESTEL analysis, trend analysis, SWOT analysis, trade area analysis, demand & supply analysis, Porter’s five force analysis, and value chain analysis.
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