Long Steel Market to Grow at 2.92% CAGR and Hit USD 1,307.86 Billion by 2034

(EMAILWIRE.COM, July 02, 2025 ) The Long Steel Market refers to the industry segment that produces, distributes, and sells long-shaped steel products, which are mainly used in construction, infrastructure, and manufacturing. Long steel products include rebars (reinforcing bars), wire rods, rails, structural sections (such as beams, angles, and channels), and bars used for various industrial and civil engineering applications.

These steel products provide structural strength and reinforcement in buildings, bridges, roads, railways, and other large-scale infrastructure projects. The market involves both primary steel producers and secondary processors, and it plays a critical role in supporting urbanization, industrialization, and the modernization of transportation networks worldwide.

The Long Steel Market Size was estimated at 980.57 (USD Billion) in 2024. The Long Steel Industry is expected to grow from 1,009.22 (USD Billion) in 2025 to 1,307.86 (USD Billion) by 2034. The Long Steel Market CAGR (growth rate) is expected to be around 2.92% during the forecast period (2025 – 2034).

Long Steel Market — DROC

Drivers:

Infrastructure development and urbanization: Rising investments in construction, transportation infrastructure, and urban housing projects globally drive demand for long steel products such as rebars, wire rods, and structural sections.

Industrialization and manufacturing growth: Expanding manufacturing sectors, especially in emerging economies, boost the consumption of long steel for machinery, equipment, and industrial buildings.

Government initiatives for smart cities and green buildings: Policies promoting sustainable construction and renovation activities fuel long steel usage.

Renewal and maintenance of aging infrastructure: Growing need for renovation and repair of old bridges, railways, and buildings adds to demand.

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Long Steel Market Companies Are:

ArcelorMittal, Tata Steel, JFE Steel, Ryerson Holding Corporation, SSAB, Hyundai Steel, Voestalpine, POSCO, Gerdau, Thyssenkrupp AG, Nippon Steel Sumitomo Metal Corporation, Hebei Iron Steel Group, Worthington Industries, Baosteel Group, Nucor Corporation

Restraints:

Volatile raw material prices: Fluctuations in iron ore and scrap steel prices impact production costs and profitability for manufacturers.

Environmental regulations: Stringent emission norms and sustainability requirements can increase compliance costs for steelmakers.

Competition from alternative materials: Use of substitutes like composites, aluminum, or advanced polymers in some construction and automotive applications may limit long steel demand.

Long Steel Market Segmentation Insights

Long Steel Market Product Type Outlook

• Bars

• Rods

• Wire Rods

• Others

Long Steel Market End-Use Industries Outlook

• Construction

• Automotive

• Energy

• Manufacturing

• Transportation

• Others

Long Steel Market Grade Outlook

• Carbon Steel

• Alloy Steel

• Stainless Steel

• Others

Long Steel Market Manufacturing Process Outlook

• Basic Oxygen Furnace (BOF)

• Electric Arc Furnace (EAF)

• Induction Furnace (IF)

• Others

Long Steel Market Application Outlook

• Rebar

• Wire Products

• Structural Shapes

• Railway Tracks

• Others

Opportunities:

Technological advancements in production: Innovations in energy-efficient and low-emission steelmaking processes can help manufacturers enhance competitiveness.

Rising demand from emerging markets: Rapid urbanization and industrial development in Asia-Pacific, Africa, and Latin America create new growth avenues.

Growth of renewable energy infrastructure: Expansion of wind power and other renewable projects increases demand for long steel components like towers and structural supports.

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Challenges:

Overcapacity and market consolidation: Global overproduction and excess capacity in some regions can lead to price wars and thin margins.

Trade barriers and tariffs: International trade disputes and protective tariffs may disrupt supply chains and market access for exporters.

Sustainability and circular economy pressure: Growing focus on decarbonization and recycling requires steelmakers to adopt greener practices, which can involve significant investments and operational changes.

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