Us Forged Steel Round Bars Market Size By Applications, By Type, By End-User, By Deployment & By Technology 2032
Forged Steel Round Bars Market was valued at USD 10.5 Billion in 2022 and is projected to reach USD 15.2 Billion by 2030, growing at a CAGR of 5.2% from 2024 to 2030.
The United States forged steel round bars market has experienced significant growth, driven by increasing infrastructure development, automotive industry expansion, and rising industrial production. In 2022, the U.S. was the third-largest producer of raw steel worldwide, with the industry producing over 74 million net tons annually. This robust production capacity underscores the country's substantial role in the global steel market.
Forged steel round bars are essential components in various sectors due to their strength, toughness, and wear resistance. They are extensively used in construction, automotive, and machinery manufacturing. The market offers a diverse range of products, including carbon steel, alloy steel, stainless steel, and tool steel forged round bars. Each type caters to specific applications, with carbon steel bars being favored for their cost-effectiveness and versatility, while alloy steel bars are chosen for enhanced mechanical properties and corrosion resistance.
The surge in infrastructure projects across the U.S. has bolstered the demand for forged steel round bars. Government investments in roads, bridges, and residential buildings have created a robust market for these materials. For instance, the global infrastructure investment is expected to increase by 3% annually, reaching approximately 4% of global GDP by 2030. This trend is mirrored in the U.S., where significant funds are allocated for infrastructure development, directly impacting the forged steel round bars market.
The automotive sector also significantly contributes to market growth. The shift towards lightweight and high-strength materials in vehicle manufacturing has led to increased consumption of steel products. Global vehicle production is projected to grow by 2.5% annually through 2025, with steel round bars playing a crucial role in automotive applications such as suspension systems and chassis components.
Industrial production's upward trajectory further propels the market. As economies recover, industrial output is expected to rise, leading to increased demand for steel products. Global manufacturing output is anticipated to increase by approximately 3.7% annually between 2024 and 2030. This growth is primarily attributed to advancements in manufacturing technologies and increased automation, where forged steel round bars are vital in machinery, tools, and equipment production.
In summary, the U.S. forged steel round bars market is poised for continued growth, supported by infrastructure development, automotive industry expansion, and rising industrial production. The diverse applications and inherent properties of forged steel round bars make them indispensable across various sectors, ensuring their demand remains strong in the foreseeable future.
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Riva Group
Sidenor
Tata Steel
Sandvik Materials Technology
Saarstahl
DEW-STAHL
IMS - SCHMOLZ+BICKENBACH
Ascometal
DAIDO
Sanyo Special Steel Co. Ltd
Georgsmarienhütte
Caparo Merchant Bar
Acerinox
Sverdrup Steel
Acentasteel
MMK
Huizhou Xing Ye Special Steel
XING CHENG
Mangalam Alloys
Daye Jiayong Metallurgy
BAGLIETTO Marine Steel Company
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global Forged Steel Round Bars Market
Aerospace
Agriculture
Automotive
Construction
Energy and Power
Marine
Mining
Oil and Gas
Railway
Tooling
Carbon Steel
Alloy Steel
Stainless Steel
High-Strength Low-Alloy Steel
Tool Steel
Up to 20 mm
21 mm - 50 mm
51 mm - 100 mm
101 mm - 200 mm
Above 200 mm
Manufacturing
Construction
Transportation
Infrastructure
Heavy Machinery
Defense
Shipbuilding
Direct Sales
Distributors
Online Retailers
Wholesale
OEMs (Original Equipment Manufacturers)
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global Forged Steel Round Bars Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global Forged Steel Round Bars Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global Forged Steel Round Bars Market, By Type
6. Global Forged Steel Round Bars Market, By Application
7. Global Forged Steel Round Bars Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global Forged Steel Round Bars Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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