Product Code: ETC378384 | Publication Date: Aug 2022 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India steel angles market import shipment experienced a significant decline with a CAGR of -15.3% from 2020 to 2024. However, there was a notable rebound in growth between 2023 and 2024, with a growth rate of 38.9%. Despite the overall contraction, the market showed signs of recovery and regained momentum towards the end of the period.
The India steel angles market was valued at approximately $2.6 billion and is expected to reach nearly $3.5 billion, growing at a compound annual growth rate (CAGR) of 5.8%. The major drivers for this growth are the increasing demand for infrastructure projects such as bridges and buildings, coupled with government initiatives that promote sustainable construction practices. India large population size and rapid urbanization also contribute to the rising demand for steel angles in the country.
In the India steel angles market, the key drivers of growth are the booming construction and infrastructure sectors. Steel angles find widespread use in various structural applications, such as building frames, bridges, and transmission towers, due to their strength and load-bearing capacity. The government`s focus on infrastructure development and investments in large-scale construction projects have further fueled the demand for steel angles in the country.
In the steel angles market, India experiences challenges related to the fluctuations in demand from the construction and infrastructure sectors. Market players must deal with the impact of changing government policies and regulations, which can influence the demand for steel angles in various projects.
The steel angles market in India experienced a downturn during the pandemic. The construction and infrastructure sectors, which are the primary consumers of steel angles, faced project delays and cancellations. The uncertain economic conditions led to cautious spending, further affecting the demand for steel angles in various construction projects.
In India steel angles market, various steel manufacturers play a crucial role in supplying steel angles for construction and industrial purposes. Some of the key players include SAIL (Steel Authority of India Limited), JSW Steel, and Tata Steel.