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(Transportation-News.com, February 14, 2018 ) With increasing investments in infrastructure development and refurbishment projects, steel rebar market is expected to grow at a commendable rate over 2017-2024. The governments of numerous countries have been striving to encourage the implementation of new construction projects by providing sufficient subsidies and deploying favorable rules and regulations, thereby propelling steel rebar industry trends.
In 2016, Europe accounted for 15% of steel rebar market share, owing to the favorable involvement of the regional governments in public infrastructure development. Say for instance, the governments of UK and Slovakia have allocated quite some funding to strengthen their transport infrastructure.
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In addition to this, the region has been experiencing growing investments in the renovation of hospitals, schools, and hotels, that would impel Europe steel rebar industry outlook over the coming timeframe. Asia Pacific will also influence the growth of global steel rebar market and is slated to register a CAGR of 5% over 2017-2024, pertaining to the escalating product demand for residential building construction and refurbishment.
In order to gain an edge over their rivals, well-known players in steel rebar market have been adopting business growth strategies such as mergers and acquisitions. Some of the leading giants in steel rebar industry are Essar, Gerdau, ArcelorMittal, Jindal, Acerinox, Daido, Nippon Steel & Sumitomo Metal Corporation, and Tata.
Scope of Report:
The product landscape of steel rebar market is inclusive of deformed and mild products. Deformed steel rebar industry is predicted to register an annual growth rate of more than 4.5% over 2017-2024, owing to the product?s increasing use for constructing columns, roads, floor slabs, and bridges. In fact, deformed steel rebar possesses several beneficial properties such as high durability, excellent corrosion resistance, and better tensile strength, thus validating the increasing preference this material enjoys.
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Noteworthy mentions in the report with regards to the regional frame of reference also include the individual contribution made by manufacturers in terms of sales and revenue, strictly confined to each region, meticulously simplifying the deliverables for potential investors.
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