PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584576
PUBLISHER: Blueweave Consulting | PRODUCT CODE: 1584576
United States Steel Market, By Product Type (Flat Steel, Long Steel, Tubular Steel, Stainless Steel, Others ); By Production Method (Basic Oxygen Furnace, Electric Arc Furnace ); By End User, Trend Analysis, Competitive Landscape & Forecast, 2019-2030
United States Steel Market Size to Surpass Staggering Value of USD 215 Billion by 2030
United States Steel Market is booming primarily due to the federal government's increasing investments in infrastructure development, a spurring demand for steel from the booming construction sector, and the increasing adoption of steel in electric vehicles (EV).
BlueWeave Consulting, a leading strategic consulting and market research firm, in its recent study, estimated United States Steel Market size by value at USD 162.49 billion in 2023. During the forecast period between 2024 and 2030, BlueWeave expects United States Steel Market size to expand at a CAGR of 4.23% reaching a value of USD 215.33 billion by 2030. The Steel Market in United States is propelled by a surge in demand for steel across major sectors like construction, automotive, and infrastructure. With a network of over 100 facilities and supporting nearly a million jobs, the market is also benefiting from groundbreaking advancements in Advanced High-Strength Steel (AHSS). This highly recyclable material is a cornerstone of reducing greenhouse gas emissions, particularly in the automotive sector. Beyond demand, the industry's commitment to technological innovation is driving efficiency and productivity gains, solidifying the United States' position as a global steel powerhouse. The sector's deep roots in strategic resource access and industrial expansion ensure its continued prominence in shaping the nation's economy during the period in analysis.
Building & Construction Segment Holds Largest Share of US Steel Market
The building and construction end user segment accounts for the largest share of United States Steel Market. Its unwavering demand for steel, a critical component in structural applications, is a testament to its enduring significance. Steel's indispensable role in constructing beams, columns, and reinforcing bars ensures the structural integrity and stability of buildings and infrastructure. As urbanization, population growth, and infrastructure development continue unabated, the demand for steel in residential, commercial, and industrial projects shows no signs of waning. Steel's exceptional properties, including its high tensile strength, durability, flexibility, cost-effectiveness, and sustainability, solidify its position as the preferred choice for construction. Anticipated increases in construction spending are poised to further fuel growth of the building and construction segment of United States Steel Market over the forecast period.
Impact of Escalating Geopolitical Tensions on United States Steel Market
Intensifying geopolitical tensions could have a multifaceted impact on United States Steel Market. As tensions between nations intensify, trade relations become increasingly volatile, leading to fluctuating tariffs and trade barriers that can disrupt supply chains. Moreover, heightened geopolitical risks may deter foreign investment, limiting the capital inflows essential for technological advancements and capacity expansions. These challenges could force United States steel manufacturers to contend with decreased competitiveness and profitability. Additionally, retaliatory measures from other nations could restrict export opportunities, further hindering the growth potential of the domestic steel industry in United States.
Competitive Landscape
United States Steel Market is highly fragmented, with numerous players serving the market. The key players dominating United States Steel Market include Nucor Corporation, Nippon Steel Corporation, United States Steel Corporation, Cleveland-Cliffs Inc., ArcelorMittal, and CK Metalworks. The key marketing strategies adopted by the players are facility expansion, product diversification, alliances, collaborations, partnerships, and acquisitions to expand their customer reach and gain a competitive edge in the overall market.
The report's in-depth analysis provides information about growth potential, upcoming trends, and United States Steel Market statistics. It also highlights the factors driving forecasts of total market size. The report promises to provide recent technology trends in United States Steel Market along with industry insights to help decision-makers make sound strategic decisions. Furthermore, the report also analyses the growth drivers, challenges, and competitive dynamics of the market.
Table of Contents
1. Research Framework
- 1.1. Research Objective
- 1.2. Product Overview
- 1.3. Market Segmentation
2. Executive Summary
3. United States Steel Market Insights
- 3.1. Industry Value Chain Analysis
- 3.2. DROC Analysis
- 3.2.1. Growth Drivers
- 3.2.1.1. Government spending on infrastructure projects
- 3.2.1.2. Growth and expansion construction industry
- 3.2.1.3. Increasing production of vehicles, especially electric vehicles
- 3.2.2. Restraints
- 3.2.2.1. Intense competition from steel producers in countries like China and India
- 3.2.2.2. Tariffs, quotas, and other trade barriers
- 3.2.2.3. Recessions or economic downturns
- 3.2.3. Opportunities
- 3.2.3.1. Innovations in steel production, such as advanced high-strength steels and sustainable manufacturing processes
- 3.2.3.2. Infrastructure modernization
- 3.2.3.3. Emerging industries like renewable energy and aerospace
- 3.2.4. Challenges
- 3.2.4.1. Stricter environmental standards
- 3.2.4.2. Shortage of skilled workers in the steel industry
- 3.2.4.3. Rising energy prices
- 3.2.1. Growth Drivers
- 3.3. Technological Advancements/Recent Developments
- 3.4. Regulatory Framework
- 3.5. Porter's Five Forces Analysis
- 3.5.1. Bargaining Power of Suppliers
- 3.5.2. Bargaining Power of Buyers
- 3.5.3. Threat of New Entrants
- 3.5.4. Threat of Substitutes
- 3.5.5. Intensity of Rivalry
4. United States Steel Market: Marketing Strategies
5. United States Steel Market: Pricing Analysis
6. United States Steel Market Overview
- 6.1. Market Size & Forecast, 2019-2030
- 6.1.1. By Value (USD Billion)
- 6.2. Market Share & Forecast
- 6.2.1. By Product Type
- 6.2.1.1. Flat Steel
- 6.2.1.2. Long Steel
- 6.2.1.3. Tubular Steel
- 6.2.1.4. Stainless Steel
- 6.2.1.5. Others (including Alloy Steel)
- 6.2.2. By Production Method
- 6.2.2.1. Basic Oxygen Furnace (BOF)
- 6.2.2.2. Electric Arc Furnace (EAF)
- 6.2.3. By End User
- 6.2.3.1. Building & Construction
- 6.2.3.2. Electrical Appliances
- 6.2.3.3. Metal Products
- 6.2.3.4. Automotive
- 6.2.3.5. Transportation
- 6.2.3.6. Mechanical Equipment
- 6.2.3.7. Domestic Appliances
- 6.2.1. By Product Type
7. Competitive Landscape
- 7.1. List of Key Players and Their Products
- 7.2. United States Steel Company Market Share Analysis, 2023
- 7.3. Competitive Benchmarking, By Operating Parameters
- 7.4. Key Strategic Development (Merger, Acquisition, Partnership)
8. Impact of Escalating Geopolitical Tensions on United States Steel Market
9. Company Profiles (Company Overview, Financial Matrix, Competitive landscape, Key Personnel, Key Competitors, Contact Address, and Strategic Outlook, and SWOT Analysis)
- 9.1. Nucor Corporation
- 9.2. Nippon Steel Corporation
- 9.3. United States Steel Corporation
- 9.4. Cleveland-Cliffs Inc.
- 9.5. ArcelorMittal
- 9.6. CK Metalworks
- 9.7. Other prominent players
10. Key Strategic Recommendations
11. Research Methodology
- 11.1. Qualitative Research
- 11.1.1. Primary & Secondary Research
- 11.2. Quantitative Research
- 11.3. Market Breakdown & Data Triangulation
- 11.3.1. Secondary Research
- 11.3.2. Primary Research
- 11.4. Breakdown of Primary Research Respondents
- 11.5. Assumptions & Limitations
*Financial information of non-listed companies can be provided as per availability.
**The segmentation and the companies are subject to modifications based on in-depth secondary research for the final deliverable.
List of Figures
- Figure 1 United States Steel Segmentation
- Figure 2 United States Steel Market Value Chain Analysis
- Figure 3 Company Market Share Analysis, 2023
- Figure 4 United States Steel Market Size, By Value (USD Billion), 2019-2030
- Figure 5 United States Steel Market Share, By Product Type, By Value (USD Billion), 2019-2030
- Figure 6 United States Steel Market Share, By Production Method, By Value (USD Billion), 2019-2030
- Figure 7 United States Steel Market Share, By End User, By Value (USD Billion), 2019-2030
List of Tables
- Table 1 United States Steel Market Size, By Value (USD Billion), 2019-2030
- Table 2 United States Steel Market Share, By Product Type, By Value (USD Billion), 2019-2030
- Table 3 United States Steel Market Share, By Production Method, By Value (USD Billion), 2019-2030
- Table 4 United States Steel Market Share, By End User, By Value (USD Billion), 2019-2030
- Table 5 Nucor Corporation Company Overview
- Table 6 Nucor Corporation Financial Overview
- Table 7 Nippon Steel Corporation Company Overview
- Table 8 Nippon Steel Corporation Financial Overview
- Table 9 United States Steel Corporation Company Overview
- Table 10 United States Steel Corporation Financial Overview
- Table 11 Cleveland-Cliffs Inc. Company Overview
- Table 12 Cleveland-Cliffs Inc. Financial Overview
- Table 13 ArcelorMittal Company Overview
- Table 14 ArcelorMittal Financial Overview
- Table 15 CK Metalworks Company Overview
- Table 16 CK Metalworks Financial Overview
