Product Code: ETC007964 | Publication Date: Aug 2023 | Product Type: Report | |
Publisher: 6Wresearch | No. of Pages: 70 | No. of Figures: 35 | No. of Tables: 5 |
India Steel Market registered a growth of 14.14% in value shipments in 2022 as compared to 2021 and an increase of 11.75% CAGR in 2022 over a period of 2017. In Steel Market India is becoming more competitive as the HHI index in 2022 was 502 while in 2017 it was 545. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Steel Market.
India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Steel Market in 2022 was 13.94 while in 2017 it was 12.09. USA, United Arab Emirates, Singapore, Malaysia and Netherlands were among the top players of the market in 2022, where USA acquired the largest market share of 11.11% with a shipment value of 302.61 million USD in 2022 USA also offered the product below the average market price thus having a competitive advantage over others In 2017 Rep. of Korea had the largest market share of 9.6% with the shipment value of 117.54 million USD. The country was offering its product with an average price which is higher than the average market price offered in the country. Although Rep. of Korea offers its product above the market average price, it remained at the leadership position indicating the brand value it holds in the India Steel Market in 2017.
The India steel industry is one of the fastest growing sectors in the world, with a compound annual growth rate (CAGR) of more than 7.1% during 2020-2026. The Indian steel market size is expected to reach USD 180.1 billion by 2026, aided by increasing demand from construction and automotive industries as well as government initiatives such as Make in India and Atmanirbhar Bharat Abhiyan. These factors will continue to drive the growth of the Indian steel market until 2026.
1. Government Initiatives: The ‘Make in India’ campaign launched by Prime Minister Narendra Modi has been a major driver for increased investment into the Indian steel industry over recent years. This was followed up with several other government initiatives including Atmanirbhar Bharat Abhiyan which have led to an increase in investor confidence and an influx of new players into the sector.
2. Increasing Demand From Construction Industry: The construction industry accounts for more than 40% of total global steel consumption and this trend is also seen in India where it forms one of largest consumers for domestic production within the country . This increasing demand from various infrastructure projects such as roads, railways, airports etc., will lead to an increase in overall consumption levels leading to increased revenues for all players involved along entire supply chain.
3. Rising Automobile Production: With rising disposable incomes across urban population coupled with low interest rates on auto loans due to Reserve Bank Of India`s policy easing measures , automobile production has seen tremendous surge over past few years .This has resulted into increased requirement for both cold rolled & hot rolled products from mills across nation resulting into higher profitability margins , hence driving overall growth prospects for indian steel sector.
1. Low Quality Imports : In spite of stringent quality norms set forth by Bureau Of Indian Standards (BIS) , there still exists issues pertaining illegal importation & substandard quality products being supplied at cheaper prices thus threatening interests local players operating within organised sector . To counter these threats govt has imposed anti dumping duties alongwith safeguard measures but implementation remains major challenge ahead before they can be effective enough against illegal imports & fake goods flooding domestic markets.
2. Costly Raw Materials : As majority raw materials used are imported either through FOB or CNF basis , fluctuations within international markets directly impacts cost structure associated with manufacturing process thereby reducing profit
1 Executive Summary |
2 Introduction |
2.1 Key Highlights of the Report |
2.2 Report Description |
2.3 Market Scope & Segmentation |
2.4 Research Methodology |
2.5 Assumptions |
3 India Steel Market Overview |
3.1 India Country Macro Economic Indicators |
3.2 India Steel Market Revenues & Volume, 2019 & 2026F |
3.3 India Steel Market - Industry Life Cycle |
3.4 India Steel Market - Porter's Five Forces |
3.5 India Steel Market Revenues & Volume Share, By Types, 2019 & 2026F |
3.6 India Steel Market Revenues & Volume Share, By Product Type, 2019 & 2026F |
3.7 India Steel Market Revenues & Volume Share, By Applications, 2019 & 2026F |
4 India Steel Market Dynamics |
4.1 Impact Analysis |
4.2 Market Drivers |
4.3 Market Restraints |
5 India Steel Market Trends |
6 India Steel Market, By Types |
6.1 India Steel Market, By Types |
6.1.1 Overview and Analysis |
6.1.2 India Steel Market Revenues & Volume, By Types, 2016 - 2026F |
6.1.3 India Steel Market Revenues & Volume, By Flat Steel, 2016 - 2026F |
6.1.4 India Steel Market Revenues & Volume, By Long Steel, 2016 - 2026F |
6.2 India Steel Market, By Product Type |
6.2.1 Overview and Analysis |
6.2.2 India Steel Market Revenues & Volume, By Structural Steel, 2016 - 2026F |
6.2.3 India Steel Market Revenues & Volume, By Prestressing Steel, 2016 - 2026F |
6.2.4 India Steel Market Revenues & Volume, By Bright Steel, 2016 - 2026F |
6.2.5 India Steel Market Revenues & Volume, By Welding Wire/Rod, 2016 - 2026F |
6.2.6 India Steel Market Revenues & Volume, By Iron Steel Wire, 2016 - 2026F |
6.2.7 India Steel Market Revenues & Volume, By Ropes, 2016 - 2026F |
6.3 India Steel Market, By Applications |
6.3.1 Overview and Analysis |
6.3.2 India Steel Market Revenues & Volume, By Building & Construction, 2016 - 2026F |
6.3.3 India Steel Market Revenues & Volume, By Electrical Appliances, 2016 - 2026F |
6.3.4 India Steel Market Revenues & Volume, By Metal Products, 2016 - 2026F |
6.3.5 India Steel Market Revenues & Volume, By Domestic Appliances, 2016 - 2026F |
6.3.6 India Steel Market Revenues & Volume, By Mechanical Equipment, 2016 - 2026F |
6.3.7 India Steel Market Revenues & Volume, By Automotive, 2016 - 2026F |
7 India Steel Market Import-Export Trade Statistics |
7.1 India Steel Market Export to Major Countries |
7.2 India Steel Market Imports from Major Countries |
8 India Steel Market Key Performance Indicators |
9 India Steel Market - Opportunity Assessment |
9.1 India Steel Market Opportunity Assessment, By Types, 2019 & 2026F |
9.2 India Steel Market Opportunity Assessment, By Product Type, 2019 & 2026F |
9.3 India Steel Market Opportunity Assessment, By Applications, 2019 & 2026F |
10 India Steel Market - Competitive Landscape |
10.1 India Steel Market Revenue Share, By Companies, 2019 |
10.2 India Steel Market Competitive Benchmarking, By Operating and Technical Parameters |
11 Company Profiles |
12 Recommendations |
13 Disclaimer |