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India Steel Market Report by Type (Flat Steel, Long Steel), Product (Structural Steel, Prestressing Steel, Bright Steel, Welding Wire and Rod, Iron Steel Wire, Ropes, Braids), Application (Building and Construction, Electrical Appliances, Metal Products, Automotive, Transportation, Mechanical Equipment, Domestic Appliances), and Region 2024-2032
Report Format: PDF+Excel | Report ID: SR112024A9492
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Market Overview:
The India steel market size is expected to exhibit a growth rate (CAGR) of 4.1% during 2024-2032. The increasing industrialization, rapid urbanization, growing population, increasing building and construction activities, expanding automotive sector, widespread adoption of steel in the manufacturing sector, and emerging technological advancements represent some of the key factors driving the market.
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Report Attribute
|
Key Statistics
|
|---|---|
|
Base Year
|
2023
|
|
Forecast Years
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2024-2032
|
|
Historical Years
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2018-2023
|
| Market Growth Rate 2024-2032 | 4.1% |
Steel is an alloy manufactured primarily from iron and carbon, with fraction amounts of other elements such as manganese, chromium, nickel, and more, depending on the desired properties. The carbon content distinguishes it from cast iron and determines its strength and hardness. Its exceptional properties make it one of the most widely employed materials. Its strength-to-weight ratio, durability, and flexibility make it ideal for constructing buildings, bridges, and infrastructure. The process involves melting raw materials in a blast furnace and removing impurities to achieve the desired chemical composition. Some techniques, such as the Bessemer process, open-hearth furnace, or electric arc furnace, are developed to produce varying steel grades suitable for different applications. Steel development is integral to the advancement of civilization and technological progress, from constructing iconic skyscrapers to fabricating intricate medical instruments, steel continues to be a pillar of industrial development and innovation. Additionally, steel offers exceptional strength, durability, and wide-ranging applications across diverse sectors, such as manufacturing machinery, vehicles, appliances, and several tools.
India Steel Market Trends:
The market is primarily driven by the growing automotive sector across India. In addition, the increasing demand for steel due to its high tensile strength and safety properties helps produce lightweight, sturdy vehicle components, contributing to improving fuel efficiency and safety standards, thus influencing the market growth. Also, the widespread adoption of steel battery enclosures and lightweight chassis fabrication in electric vehicles presents new opportunities for market growth. Moreover, several advanced technologies are transforming the steel industry, optimizing production processes, and enhancing product quality representing another major growth-inducing factor. Along with this, automation, artificial intelligence (AI), and data analytics are streamlining manufacturing, reducing costs, and enabling quicker responses to market demands, propelling market growth. Besides this, the growing demand for infrastructure development projects due to rapid urbanization and increasing population is accelerating market growth. In line with this, the escalating demand for steel due to its exceptional strength, durability, and versatility, ensures long-lasting structures that can withstand the test of time, which are extensively employed in several construction projects, including bridges, roads, railways, and buildings, augmenting the market growth. Apart from this, the rising application of steel in the manufacturing industry to produce machinery, equipment, and industrial tools provides a positive thrust to the market growth. Furthermore, the growing environmental awareness led to sustainable business practices to reduce carbon footprint, resulting in the development of eco-friendly production processes, recycling initiatives, and advancements in energy-efficient technologies, thus creating a positive market outlook.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each segment of the India steel market report, along with forecasts at the country levels from 2024-2032. Our report has categorized the market based on type, product, and application.
Type Insights:
- Flat Steel
- Long Steel
The report has provided a detailed breakup and analysis of the India steel market based on the type. This includes flat steel and long steel.
Product Insights:
- Structural Steel
- Prestressing Steel
- Bright Steel
- Welding Wire and Rod
- Iron Steel Wire
- Ropes
- Braids
The report has provided a detailed breakup and analysis of the India steel market based on the product. This includes structural steel, prestressing steel, bright steel, welding wire and rod, iron steel wire, ropes, and braids.
Application Insights:
- Building and Construction
- Electrical Appliances
- Metal Products
- Automotive
- Transportation
- Mechanical Equipment
- Domestic Appliances
A detailed breakup and analysis of the India steel market based on the application has also been provided in the report. This includes building and construction, electrical appliances, metal products, automotive, transportation, mechanical equipment, and domestic appliances.
Regional Insights:
- South India
- North India
- West and Central India
- East India
The report has also provided a comprehensive analysis of all the major regional markets, which include South India, North India, West and Central India, and East India.
Competitive Landscape:
The report has also provided a comprehensive analysis of the competitive landscape in the India steel market. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.
India Steel Market Report Scope:
| Report Features | Details |
|---|---|
| Base Year of the Analysis | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Units | US$ Billion |
| Scope of the Report | Exploration of Historical and Forecast Trends, Industry Catalysts and Challenges, Segment-Wise Historical and Predictive Market Assessment:
|
| Types Covered | Flat Steel, Long Steel |
| Products Covered | Structural Steel, Prestressing Steel, Bright Steel, Welding Wire and Rod, Iron Steel Wire, Ropes, Braids |
| Applications Covered | Building and Construction, Electrical Appliances, Metal Products, Automotive, Transportation, Mechanical Equipment, Domestic Appliances |
| Regions Covered | South India, North India, West and Central India, East India |
| Customization Scope | 10% Free Customization |
| Report Price and Purchase Option | Single User License: US$ 2699 Five User License: US$ 3699 Corporate License: US$ 4699 |
| Post-Sale Analyst Support | 10-12 Weeks |
| Delivery Format | PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request) |
Key Questions Answered in This Report:
- How has the India steel market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the India steel market?
- What is the breakup of the India steel market on the basis of type?
- What is the breakup of the India steel market on the basis of product?
- What is the breakup of the India steel market on the basis of application?
- What are the various stages in the value chain of the India steel market?
- What are the key driving factors and challenges in the India steel market?
- What is the structure of the India steel market and who are the key players?
- What is the degree of competition in the India steel market?
Key Benefits for Stakeholders:
- IMARC’s report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the India Steel market from 2018-2032.
- The research study provides the latest information on the market drivers, challenges, and opportunities in the India Steel market.
- Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the India Steel industry and its attractiveness.
- Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
Need more help?
- Speak to our experienced analysts for insights on the current market scenarios.
- Include additional segments and countries to customize the report as per your requirement.
- Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
- For further assistance, please connect with our analysts.
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