The Europe Steel Rebar Market is expected to grow at a CAGR of 3.8% during the forecast period 2024-2029. The market value was at USD 141.79 billion in 2023, and the value is expected to reach USD 177.35 billion by the end of 2029.
Market Drivers and Restraints:
Europe is a hub for various production industries and construction and the steel demand is ever-increasing. The automobile and construction industry constantly requires non-corrosive materials for their functioning. The development of marine architecture and advancements in the power sector with projects like offshore wind power development is also a heavy contributor to the increased production of steel. Public infrastructure is also expected to grow at a rate of 3.3% CAGR followed by the residential building segment. These all account for the growing demand in the steel industry. The government policies are focused on boosting construction output which triggers the growth in this industry. The Turkish government has invested around USD 400 billion in the urban development construction project.
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REPORT METRIC |
DETAILS |
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Market Size Available |
2023-2029 |
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Base Year |
2023 |
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Forecast Period |
2024-2029 |
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CAGR |
3.8% |
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Segments Covered |
By Process, Coating Type, Bar Size, End Use Sector, and Region. |
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Various Analyses Covered |
Global, Regional, and country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview of Investment Opportunities |
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Regions Covered |
Germany, Italy, France, United Kingdom |
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Market Leaders Profiled |
Celsa Steel UK, Evraz, Mechel, ArcelorMittal, and others. |
Market Segmentation
There are two types of steel rebar namely: deformed and mild steel. The largest and fastest-growing market is of deformed steel, due to its deformed surface, which helps in the bond between materials and minimizes slippage in concrete.
The oxygen steelmaking segment is the largest segment owing to its better characteristics such as high production rate, low nitrogen content steel, and requiring less labor. In addition to this, the electric arc furnace segment is forecasted to grow at the highest CAGR due to its environment-friendly production process, which utilizes steel scrap to manufacture products and energy efficiency.
Marine infrastructure projects and growth in offshore wind power generation is one of the major contributors to the increase in demand for steel production.
Market Regional Analysis:
The World Smart Cities Organization (WSCO) which plays a significant role in the sustainable development of communities across the globe has prompted several regional governments to increase expenses for infrastructural projects while also tracking the budget.
Germany is the highest producer of automobiles in Europe and one of the best in the world. Infrastructural improvements have been taking place here for a long time and constantly the steel industry is growing.
Europe was an early hotspot for the COVID-19 virus from February to May. Amidst this UK, Germany, Spain, Italy, and France took a serious hit and it has an adverse effect on every sector. Steel and Rebar Industry is also hard hit by the virus as production has dropped and the construction and manufacturing sectors are stagnant. The automobile sector is also affected and steel demand has gone down. This slowdown is expected to last till 2021 and recovery will start from then on. The automobile sector is still expected to witness stagnant growth because of the introduction of electrical and hybrid vehicles. But the power sector is expected to be stable and continue to grow.
Market Key Players:
Market Key Developments:
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