Steel Rebars Market Global 2016-2020
WiseGuyReports.com adds “STEEL REBARS MARKET GLOBAL 2016-2020” to its research database.
This market research study presents a detailed segmentation of the global steel rebars market by geography (the Americas, APAC, Europe, and MEA). This market report also presents an analysis of the key drivers and challenges that influence the market growth. The key leading vendors identified in the market are ArcelorMittal, EVRAZ, Gerdau, Hebei Iron and Steel, Jiangsu Shagang, Nucor, and Tata Steel.
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Overview of the Steel Rebars Market
Steel rebars are used as tensile devices in reinforced concrete to provide strength and hold the concrete in tension. Besides the high-tensile strength, rebars also absorb energy, adapt to extreme weather conditions, and hold stress during natural calamities which make them indispensable in the construction industry. Technavio’s market research analyst predicts that the global steel rebars market will grow at an impressive CAGR of more than 6% over the forecast period. The rapid increase in industrialization and development in APAC countries like India, China, and South Korea will boost the demand for steel rebars until the end of 2020. For instance, the construction market in China is expected to grow tremendously over the forecast period. Moreover, rapid urbanization and substantial investments in infrastructure in India are expected to the drive the steel rebars market globally. Thus, it can be concluded that fast growth in the construction segment in emerging economies like India and China will positively affect the market for steel rebars market until the end of 2020.
In this market research report, the analyst has estimated that the presence of eminent factors like the recent advances in the renewable energy industry to bolster the growth prospects of this market until the end of the forecast period. The augmented demand for energy for use in industries and rapidly depleting non-renewable energy resources have led to an increased construction and development of infrastructure for the generation of power from renewable energies such as solar, wind, and tidal. Because of its tensile strength and properties to hold stress, steel rebars are extensively used in the construction of solar panels and windmills. The increasing construction activities and development in the renewable energy industry will aid in the growth of this market until the end of 2020.
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geographical segmentation of the steel rebars market
in this market study, the analysts have estimated apac to be the largest market for steel rebars and is expected to account for more than 75% of the market share by the end of 2020. the market for steel rebars in apac is driven by the enormous investments in construction industries, especially in india and china. moreover, china is the largest producer of steel in the world and, therefore, has a great impact on the demand for steel rebars globally.
competitive landscape and key vendors
the global market for steel rebars market is highly competitive with a few leading vendors in the market. however, with an increase in the number of new suppliers, the market share of the top vendors is decreasing. intense competition, technological advancements, and changes in market preferences are some of the risk factors associated with this market.
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