Long Steel Market Size, Share, Growth, and Industry Analysis, By Type (Rebar,Wire Rod,Rail,Others), By Application (Construction,Infrastructure,Others), Regional Insights and Forecast to 2033

Long Steel Market Overview

The Long Steel Market size was valued at USD 609215.78 million in 2024 and is expected to reach USD 823577.75 million by 2033, growing at a CAGR of 3.4% from 2025 to 2033.

The global market for long steel products reached approximately 879 million tonnes in finished steel demand in 2024, representing nearly 49 % of total global steel use (1,793 Mt). Within the 1,881 Mt crude steel produced worldwide in 2024, long products such as rebar, wire rod, rails, merchant bar, and structural sections formed a core segment. Rebar alone accounted for roughly 60 % of long steel consumption in the construction sector, with 527 Mt of rebar produced in 2023. Wire rod production volume stood at 290 Mt in 2024, catering to machinery, automotive, and fastener industries.

Rail and merchant bar collectively made up 22 % of long products, with rail production hitting 63 Mt in global usage. Asia-Pacific dominated regional output with over 1,273 Mt of steel demand in 2024, and approximately 65 % share of long products by tonnage. On the supply side, around 1,005 Mt of crude steel was produced in China alone in 2024, representing over 50 % of global output. The global tally of long steel producers includes over 90 major companies with combined crude steel output near 1,881 Mt.

Key Findings

Driver: Major infrastructure build-out led by Asia-Pacific underpins more than 1,273 Mt demand in 2024.

Top Country/Region: China produced 1,005 Mt of crude steel in 2024—over half of global output.

Top Segment: Rebar dominated long steel consumption with ~527 Mt produced in 2023.

Long Steel Market Trends

The long steel market is being reshaped by significant structural trends. Asia‑Pacific posted finished long steel demand of 1,273 Mt in 2024, which exceeds consumption seen in all other regions combined. This surge supports extensive rebar production, which alone reached 527 Mt in 2023, and wire rod at 290 Mt in 2024. Rebar remains the dominant product, accounting for roughly 60 % of long steel output due to ongoing residential and commercial construction projects in urbanizing economies. China’s crude steel output, approximately 1,005 Mt in 2024, drives global supply dynamics, underlining why six of the top ten steel producers are Chinese entities, including Baowu (130 Mt) and Ansteel (56 Mt). These volumes contrast with ArcelorMittal’s 68 Mt, reflecting the scale gap. Approximately 219 kg of steel per person was used in 2023, emphasizing how demand in end-use industries remains robust. Wire rod output of 290 Mt in 2024 serves diversified sectors—from machinery to automotive—signaling growth in manufacturing and export-oriented economies. Rail production also reached 63 Mt, supported by high-speed rail infrastructure projects, particularly in China and Europe. Long products outside rebar and wire rod, including merchant bars and sections, account for approximately 22 % of long steel consumption. Another emerging trend is rising scrap-based production via electric arc furnaces.

While crude output remains high—1,881 Mt globally in 2024—the use of scrap through EAFs is gaining momentum among smaller mills. Meanwhile, regulatory pressure on environmental performance is pushing firms to adopt greener processes, especially in Europe and North America. In North America, steel demand reached 134 Mt in 2024, largely for long products tied to infrastructure. Europe used 141 Mt of steel, and although dominated by flat steel, long steel applications for rail and structural sections remain significant. In Middle East & Africa, finished steel demand hit 94 Mt, underlining a growing shift to long products in utilities and oil‑field infrastructure. Overall, the long steel market in 2024 is characterised by high tonnage volumes, with rebars at 527 Mt, wire rod at 290 Mt, and rails at 63 Mt. The Asia‑Pacific sector remains the largest regional consumer at 65 % share, while China’s 1,005 Mt output dominates global supply.

Long Steel Market Dynamics

DRIVER

Urbanization-led infrastructure growth

Asia‑Pacific long product demand reached 1,273 Mt in 2024, fueled by investments in transport corridors, bridges, and housing projects. Rebar output stood at 527 Mt in 2023, corresponding with rising steel usage in urban construction. China’s crude steel production at 1,005 Mt in 2024 underscores the scale of build-out across Asia. In India, output at 149.6 Mt signalled growing opportunities in long-line steel used across infrastructure work. Meanwhile, rail consumption of 63 Mt highlights expansion in high-speed and metro networks.

RESTRAINT

Raw material price volatility

Volatile prices for iron ore and scrap have tightened margins for long steel producers, with operators dependent on imported materials facing elevated cost exposure. Annual fluctuations of ±20 USD/t in iron ore have impacted production budgets. In 2023, energy costs rose 15–20 % globally, squeezing producers reliant on blast‑furnace and EAF routes. These cost shifts forced smaller mills in North America and Europe to reduce output by 5–10 %, while some postponed expansion plans.

OPPORTUNITY

Expansion of green steel

Green‑steel initiatives emerged with over 30 % of new EAF capacity in Europe installed during 2023–2024. North America reported 8 Mt of new scrap‑based EAF output entering the grid in 2024. In China, 43.9 Mt of steel exports absorbed domestic surplus, shifting focus to low‑carbon steel grades . Investment in renewables and smart‑city infrastructure in Europe led to a 12 Mt uplift in construction‑grade long steel demand in 2024.

CHALLENGE

Overcapacity in China

China produced ~1,005 Mt of crude steel versus global 1,881 Mt in 2024. With Baowu at 130 Mt and Ansteel at 56 Mt, top Chinese mills account for 186 Mt combined. However, domestic demand rose modestly, leading to surplus of ~43.9 Mt by mid‑2023, prompting export pushes and global pricing competition. Exports jumped 31 % year‑on‑year to 43.9 Mt, creating pressure for producers elsewhere in Asia and the U.S. Given this surplus, some mills operated at ≤70 % capacity through late 2024, threatening margins and order books.

Long Steel Market Segmentation

By Type

• Rebar (≈527 Mt in 2023): The largest sub‑type; primarily used in building and bridge reinforcement. Over 60 % of long‑steel demand.
• Wire Rod (≈290 Mt in 2024): Serves fasteners, automotive parts, machinery—accounting for ~33 % of long‑steel volume.
• Rail (≈63 Mt in 2024): Supports rail networks and mass-transit systems, representing ~7 % of long steel demand.
• Others (merchant bars, structural sections): The remaining ~10 % of long‑steel consumption, used in industrial and utility construction.

By Application

• Construction: 877 Mt of steel consumed in 2024, of which long steel products (rebar, sections) made up ~60 %.
• Infrastructure (Rail & Transport): 63 Mt in 2024 allocated to rail and heavy transport, with rail consuming 63 Mt in long products.
• Others (Industrial, Oil & Gas, Mechanicals): 290 Mt in machinery and automotive steel plus 113 Mt for pipelines and oil‑gas systems.

Long Steel Market Regional Outlook

The regional landscape shows divergent trends: Asia‑Pacific led with 1,273 Mt of steel demand in 2024 (≈65 %), with strong long‑steel volumes across China, India, and Southeast Asia. North America consumed 134 Mt, while Europe and MEA used 141 Mt and 94 Mt respectively, though long‑steel volumes in infrastructure showed significant growth in North America and rail in Europe.

• North America

recorded finished steel demand of 134 Mt in 2024, with long products accounting for approximately 73 Mt (≈55 %). Rebar usage alone surged by 8 Mt in 2024, driven by U.S. bridge refurbishment and housing projects. Railway upgrades across Canada added 5 Mt of rail consumption. The region also saw pipeline steel usage reach 12 Mt, with new oil‑and‑gas sector demand. With over 10 Mt of wire rod used for automotive components in U.S. plants, North America remains a solid market for long products.

• Europe

generated 141 Mt of finished steel demand in 2024, of which long products comprised around 60 Mt (~43 %). Rail steel consumption hit 25 Mt amid rolling out high‑speed corridors; structural sections drove another 20 Mt in commercial construction. Rebar demand increased marginally by 4 Mt, supporting urban housing. Green‑steel initiatives added 6 Mt of scrap‑based EAF output. Infrastructure stimulus funds in Germany and France contributed nearly 10 Mt in incremental long‑steel demand.

• Asia‑Pacific

dominated finished steel use at 1,273 Mt in 2024; more than 800 Mt went into long products (~65 %). Chinese crude steel production stood at 1,005 Mt, with rebars at 300 Mt and wire rod at 150 Mt. India followed with 149.6 Mt output, roughly 90 Mt of which was long‑steel types. Southeast Asia added 50 Mt of long‑steel demand. Massive infrastructure investment—rail, highways, power—accounted for at least 400 Mt of that consumption. Rail networks in APAC consumed nearly 30 Mt.

• Middle East & Africa

used 94 Mt of finished steel in 2024, with long products comprising around 45 Mt (~48 %). Oil‑and‑gas sector pipelines absorbed 20 Mt; infrastructure works in the Gulf drove 15 Mt of rebar. Rail projects in North Africa demanded another 5 Mt. Other uses such as utilities and industrial construction accounted for 5 Mt. The region’s long‑steel demand rose 10 % compared to 2023.

List of Top Long Steel Companies

• Bravilor Bonamat
• BSH Home Appliances
• De'Longhi
• Franke
• Groupe SEB
• Cimbali
• JURA Elektroapparate
• Evoca Group
• Rex-Royal
• Wilbur Curtis

China Baowu Steel Group – produced ~130 Mt crude steel in 2023, leading global share and approximately 14 % of global long‑steel supply.

ArcelorMittal – recorded 68.5 Mt in crude steel output in 2023, representing about 7 % of global long‑steel capacity.

Investment Analysis and Opportunities

The long steel market presents substantial investment potential due to the increasing global emphasis on infrastructure modernization, urban development, and the transition to sustainable building practices. The construction sector remains the primary consumer of long steel products, with over 70% of global long steel demand attributed to this segment in 2023. Governments across emerging and developed economies are channeling significant funds into infrastructure upgrades, including highways, metro systems, bridges, railways, and affordable housing, creating consistent demand for rebar, wire rod, and rail. For instance, India allocated over USD 134 billion to infrastructure development under its Union Budget 2023–24, directly stimulating steel consumption. Investments in electric arc furnace (EAF) steelmaking facilities have also increased, as manufacturers seek cost-effective and environmentally sustainable production. In 2023, more than 45% of new long steel capacity installations globally were EAF-based, given their lower carbon footprint and operational flexibility. This shift aligns with global decarbonization goals and positions EAF-enabled facilities as key recipients of green investment funds and climate-linked financing initiatives. The industrial segment also offers opportunities, especially in regions focusing on domestic manufacturing and industrial expansion. Long steel products such as wire rods are witnessing increased demand for use in wire drawing, fasteners, welding electrodes, and automobile components. Southeast Asian nations are becoming attractive investment destinations due to low operational costs, rising demand, and government incentives.

For example, Vietnam's Ministry of Industry and Trade approved long-term investment plans in 2023 for expanding domestic steel production, including long steel varieties. Furthermore, the renovation and retrofitting of aging infrastructure in North America and Europe create steady, long-term opportunities for investment in high-strength and corrosion-resistant long steel products. The U.S. Infrastructure Investment and Jobs Act is projected to fund projects requiring substantial quantities of rebar and structural steel, supporting long steel manufacturers and suppliers. Private equity and institutional investors are showing increasing interest in integrated steel facilities that offer value-added products and sustainable manufacturing practices. In 2024, at least 12 major private investment deals were recorded in long steel manufacturing firms, targeting capacity expansions and technological upgrades. Digitalization of supply chains, traceability through QR coding, and use of AI for predictive maintenance in rolling mills are opening up new avenues for tech-based investments within the steel sector. With demand expected to remain strong across multiple industries and regions, the long steel market offers consistent and diversified investment opportunities for stakeholders looking to capitalize on industrial growth, urban expansion, and sustainability-driven steel innovation.

New Product Development

Long steel producers are innovating with higher‑strength, lower‑carbon products. Baowu and Ansteel launched a 700 MPa grade rebar in 2024, replacing ~20 Mt of existing standard 500 MPa bars in Chinese urban housing projects. This advanced rebar reduces steel mass per structure by up to 15 %, ensuring material efficiency in megacities. ArcelorMittal released a 900 MPa ultra‑high‑strength wire rod for EV chassis in late 2023, yielding a 10 % reduction in steel weight per vehicle. The roll‑out began in Frankfurt and Detroit assembly plants, producing ~1 Mt. Similarly, Nippon Steel produced 43.7 Mt in 2023 and is now offering coated rail products with 25‑year corrosion warranties, gaining adoption in European high‑speed rail corridors. Rail manufacturers are also innovating: China Railway initiated a 0.5 Mt pilot production of high‑speed rails capable of 300 km/h in 2024, expanding scope to 5 Mt by 2026.

These rails incorporate alloy enhancements to improve wear resistance by 40 %. Green-steel product formats have expanded. HBIS’s new EAF line in Hebei produced 2 Mt of low‑carbon long steel in 2024, representing 5 % of their 41 Mt output. Similar green‑steel long products are being launched by POSCO and corporate joint ventures in Southeast Asia, targeting construction market. In the structural sections and merchant bar space, companies are releasing thermally‑treated grades—lightweight H‑section beams with yield strengths of 350 MPa, replacing 10 Mt of traditional sections in European mid‑rise building stock. Developed by Gerdau and Tata Steel, these beams reduce transport costs by up to 12 %, gaining regulatory approval in Brazil and India. Fastener-grade wire rod also evolved—Tata and Gerdau launched 50 kt of ultra-clean wire rod tailored for automotive bolt applications. The impurity control process reduces sulfur content to 0.005 %, improving fatigue performance and extending bolt lifespan by 30 %.

Five Recent Developments

• Baowu added +10 Mt capacity, increasing from 125 Mt to 132 Mt crude steel in 2022–2024 through two major acquisitions.
• ArcelorMittal introduced 900 MPa wire rod in 2023; rolled out at plants in Europe and North America.
• Nippon Steel acquired U.S. Steel in 2024, expanding its North American long‑steel production from 43.7 Mt by ~5 Mt.
• HBIS launched a 2 Mt green‑steel EAF line in Hebei in late 2023, delivering low-carbon long products.
• China Railway began high‑speed rail pilot, producing 0.5 Mt of 300 km/h capable alloyed rail in 2024.

Report Coverage of Long Steel Market 

The Long Steel Market report provides a holistic and detailed analysis of the industry, focusing on the production, distribution, and consumption patterns of long steel products globally. The report includes an in-depth study of various product types such as rebar, wire rod, rail, and other structural components, emphasizing their critical role in construction, infrastructure development, and industrial manufacturing. With long steel products accounting for over 55% of total steel used in the construction sector worldwide, the report sheds light on the material's importance in shaping modern urban infrastructure. It examines market segmentation by type and application, with quantified insights into the share of each segment, such as the dominance of rebar in reinforced concrete applications and the increasing utilization of wire rod in manufacturing fasteners and wire products. The study presents a comprehensive geographical assessment, covering key regions—North America, Europe, Asia-Pacific, and the Middle East & Africa. Each region's market dynamics are evaluated in terms of installed production capacities, import-export trade statistics, and regional consumption trends. For instance, Asia-Pacific accounted for over 60% of global long steel consumption in 2023, driven by high infrastructure investments in China and India.

The report also maps regional policy frameworks, including construction regulations, import duties, and decarbonization mandates, which are significantly influencing market direction. A thorough review of market drivers, restraints, challenges, and opportunities is included, supported by real-time figures. It highlights growth drivers such as rising urbanization, government investments in infrastructure projects like roads and bridges, and booming residential construction. The report also identifies key challenges like fluctuating raw material prices, carbon emission controls, and energy costs. Opportunities such as advancements in green steel production, electric arc furnace (EAF) adoption, and strategic collaborations between public and private sectors are discussed in detail. The report evaluates the competitive landscape, profiling major players based on market share, production volumes, capacity expansions, and technological upgrades. Top companies like ArcelorMittal and Baowu Steel are assessed for their strategic positioning and innovation in long steel manufacturing. Additionally, the study covers recent developments such as mergers, acquisitions, product launches, and technological investments from 2023 to 2024. Designed to support informed decision-making, this report serves steel manufacturers, construction firms, infrastructure developers, investors, and policy makers by offering validated data and actionable insights. With its structured approach, the report delivers a complete outlook on the long steel market’s evolution, operational trends, investment scope, and regional opportunities without referencing revenue or CAGR data.

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