Report ID: SQMIG15O2007
Iron Steel Market Size, Share, Growth Analysis, By Application(Building and Construction, and Automotive), By Type(Automotive, and Machinery), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG15O2007 |
Region:
Global |
Published Date: April, 2024
Pages:
184
|
Tables:
61 |
Figures:
75
Iron Steel Market Regional Insights
On the basis of region, it is segmented into North America, Europe, Asia Pacific, Latin America and Middle East and Africa(MEA). Asia Pacific emerged dominant In 2022, and is projected to continue so during the forecast period. Asia Pacific had the highest revenue share of more than 55.0% in 2022. Over the forecast period, rising investment in infrastructure development projects is expected to boost demand for iron and steel in the region. China began construction of a 237.78 km railway line from Liuzhou to Wuzhou, Guangxi, China, in October 2021.
Europe is projected to emerge as the fastest growing region during the forecast period. According to the European Steel Association, apparent steel consumption in the European Union increased by 40.5% in the second quarter of 2022, following a 10.6% decrease in the previous quarter. Furthermore, steel consumption is expected to rise 4.7% by the end of 2030. The region's demand for iron and steel is expected to be driven by various government investments in infrastructure development projects. Europe is attempting to improve rail connectivity and reverse the industry's decline.
Iron Steel Market Report Snapshots
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