Steel Service Centers Market Size, Share & Trends Analysis Report By Application (Metal Fabrication & Machine Shops, Heavy Industry, HVAC, Oil & Gas), By Region, And Segment Forecasts, 2019 - 2025

Published: Oct, 2019 | Pages: 100 | Publisher: Grand View Research
Industry: Materials | Report Format: Electronic (PDF)

The global steel service center market demand is expected to reach 755,191.3 kilotons by 2025, registering a CAGR of 3.5% over the forecast period, according to a new report by Grand View Research, Inc. High demand for steel products from construction and advanced manufacturing industries is likely to remain a prominent growth driver.

Increasing focus on advanced manufacturing sector coupled with investments in private and public constructions in countries, such as India, China, and U.S. is expected to drive the demand for steel and related products. Steel is one of the versatile materials and has various applications in biotechnology and new-energy vehicle sectors. Recently, China Construction Bank tied up with the National Development and Reform Commission to start an investment fund of around USD 47 billion in the industries such as biotechnology and new materials and vehicles. Also, as per China's state plan, the country aims to double the contribution from these sectors by 2020.

Ground transportation segment accounted for market share of 15.6% in 2018. Challenges such as decreasing sales of vehicles are anticipated to create a negative impact on the steel service center market for a short term. Recently, many countries have observed a decline in sales of commercial and passenger vehicles. For instance, China witnessed more than 12% drop in the first six months of 2019. As per the China Association of Automotive Manufacturers, auto sales were down by 9.6% in June 2019 compared to the previous year.

Monetary reforms and new taxation policies to reduce the burden on companies in developing countries is a positive sign for steelmakers. In September 2019, India's Ministry of Finance announced reduction in corporate taxes, to ease the burden on the corporate sector. As per this announcement, the effective tax rate for the companies with taxable income greater than INR 1 crore has been reduced to 25.6% from 34.9% earlier. Also, to attract investors in domestic manufacturing, the companies incorporated after 1 October 2019 will have a tax rate of 15%. This was a key decision for the Indian manufacturing companies and is anticipated to create a positive impact in the long run.

Steelmakers in the market focus on the data due to the immense potential present in the sector. To meet the short lead times the companies have started utilizing the data associated with yield, real-time prices, costing, and tracking. Another trend observed in the market is the emergence of e-commerce platforms. The companies are integrating business information to keep up with increasing pace of online sales.

Further key findings from the report suggest:

• In terms of volume, heavy industry held the highest market share of 27.8% in 2018. Focus on increasing industrial output supported by government programs are the key driving factors

• Ground transportation segment is anticipated grow on the account of increasing sales of electric and hybrid vehicles. In 2018, this segment accounted for 97.725.5 kilotons of volume

• Asia Pacific is projected to lead the segment with highest market share of 66.7% in 2018. The growth in this region is characterized by presence huge manufacturing sector in developing economies including India and China

• In terms of volume, Europe is likely to expand at a CAGR of 3.3% during forecast period, owing to increasing R&D expenditure by the regional steel companies

• Some of the key market players include Tata Steel, Russel Metals, Reliance Steel & Aluminum Co, Samuel, Son & Co., thyssenkrupp Materials Processing Europe GmbH, and voestalpine Steel & Service Center GmbH among others

• Recently, many manufacturers have started establishing new steel service centers in North America through joint ventures and inorganic growth strategies. Imposition of steel tariffs by the U.S. government is a key factor driving the establishment of the new centers

 Table of Contents

Chapter 1 Methodology and Scope
                 1.1 Market segmentation & scope
                 1.2 Market definition
                 1.3 List of data sources
                 1.4 Information procurement
                 1.5 Information analysis
                 1.6 Market formulation & data visualization
                 1.7 Data validation & publishing
Chapter 2 Executive Summary
                 2.1 Market outlook
                 2.2 Segmental outlook
                 2.3 Competitive Insights
Chapter 3 Steel Service Center Market Variables, Trends, & Scope
                 3.1 Market outlook
                     3.1.1 Global steel market outlook
                 3.2 Penetration & growth prospect mapping
                 3.3 Industry value chain analysis
                     3.3.1 Raw materials trends
                         3.3.1.1 Iron ore
                         3.3.1.2 Coking coal
                         3.3.1.3 Ferrous scrap
                     3.3.2 Distribution channel analysis
                     3.3.3 Vendor selection criteria analysis
                     3.3.4 Manufacturing and technology trends
                 3.4 Regulatory framework
                 3.5 Market dynamics
                     3.5.1 Market driver analysis
                         3.5.1.1 Growth of automotive sector
                         3.5.1.2 Growing heavy industry
                     3.5.2 Market restraint analysis
                         3.5.2.1 Fluctuations in raw material prices
                     3.5.3 Industry challenges
                 3.6 Steel service center market - Business environment analysis
                     3.6.1 Industry analysis - Porter's
                     3.6.2 PESTEL analysis
Chapter 4 Steel Service Center Market: Application Estimates & Trend Analysis
                 4.1 Definition & scope
                 4.2 Application movement analysis & market share, 2018 & 2025
                 4.3 Metal fabrication & machine shops
                     4.3.1 Market estimates and forecasts in metal fabrication & machine shops, 2014 - 2025 (Kilotons)
                 4.4 Heavy industry
                     4.4.1 Market estimates and forecasts in heavy industry, 2014 - 2025 (Kilotons)
                 4.5 HVAC
                     4.5.1 Market estimates and forecasts in HVAC 2014 - 2025 (Kilotons)
                 4.6 Consumer applinaces
                     4.6.1 Market estimates and forecasts in consumer appliances 2014 - 2025 (Kilotons)
                 4.7 Food processing & agriculture
                     4.7.1 Market estimates and forecasts in consumer food processing & agriculture, 2014 - 2025 (Kilotons)
                 4.8 Oil & gas
                     4.8.1 Market estimates and forecasts in oil & gas, 2014 - 2025 (Kilotons)
                 4.9 Ground transportation
                     4.9.1 Market estimates and forecasts in ground transportation, 2014 - 2025 (Kilotons)
                 4.10 Others
                     4.10.1 Market estimates and forecasts in other applications, 2014 - 2025 (Kilotons)
Chapter 5 Steel Service Center Market: Regional Estimates & Trend Analysis
                 5.1 Regional market snapshot
                 5.2 Regional movement analysis, 2018 & 2025
                 5.3 North America
                     5.3.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                     5.3.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
                     5.3.4 U.S.
                         5.3.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.3.4.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
                     5.3.5 Canada
                         5.3.5.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.3.5.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
                     5.3.6 Mexico
                         5.3.6.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.3.6.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
                 5.4 Europe
                     5.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                     5.4.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
                     5.4.4 Germany
                         5.4.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.4.4.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
                     5.4.5 U.K.
                         5.4.5.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.4.5.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
                     5.4.6 France
                         5.4.6.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.4.6.2 Market estimates and forecasts, by application 2014 - 2025 (Kilotons)
                 5.5 Asia Pacific
                     5.5.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                     5.5.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
                     5.5.3 China
                         5.5.3.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.5.3.2 Market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
                     5.5.4 India
                         5.5.4.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.5.4.2 Market estimates and forecasts, by application 2014 - 2025 (Kilotons)
                     5.5.5 Japan
                         5.5.5.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.5.5.2 Market estimates and forecasts, by application 2014 - 2025 (Kilotons)
                 5.6 Central & South America
                     5.6.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                     5.6.2 Market estimates and forecasts, by application 2014 - 2025 (Kilotons)
                     5.6.3 Brazil
                         5.6.3.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                         5.6.3.2 Market estimates and forecasts, by application 2014 - 2025 (Kilotons)
                 5.7 Middle East & Africa
                     5.7.1 Market estimates and forecasts, 2014 - 2025 (Kilotons)
                     5.7.2 Market estimates and forecasts, by application 2014 - 2025 (Kilotons)
Chapter 6 Competitive Analysis
                 6.1 Key global players & recent developments & their impact on the industry
                 6.2 Vendor landscape
                     6.2.1 List of key distributors and channel partners
                     6.2.2 Customer mapping, by region
                 6.3 SWOT, by top players
Chapter 7 Company Profiles
                 7.1 Reliance Steel & Aluminum Co
                     7.1.1 Company overview
                     7.1.2 Financial performance
                     7.1.3 Product benchmarking
                     7.1.4 Strategic initiatives
                 7.2 Samuel, Son & Co.
                     7.2.1 Company overview
                     7.2.2 Financial performance
                     7.2.3 Product benchmarking
                     7.2.4 Strategic initiatives
                 7.3 Ryerson Holding Corporation
                     7.3.1 Company overview
                     7.3.2 Financial performance
                     7.3.3 Product benchmarking
                     7.3.4 Strategic initiatives
                 7.4 Russel Metals
                     7.4.1 Company overview
                     7.4.2 Financial performance
                     7.4.3 Product benchmarking
                     7.4.4 Strategic initiatives
                 7.5 Tata Steel
                     7.5.1 Company overview
                     7.5.2 Financial performance
                     7.5.3 Product benchmarking
                     7.5.4 Strategic initiatives
                 7.6 thyssenkrupp Materials Processing Europe GmbH
                     7.6.1 Company overview
                     7.6.2.Financial performance
                     7.6.3 Product benchmarking
                     7.6.4 Strategic initiatives
                 7.7 voestalpine Steel & Service Center GmbH
                     7.7.1 Company overview
                     7.7.2 Financial performance
                     7.7.3 Product benchmarking
                     7.7.4 Strategic initiatives
                 7.8 Mahindra Intertrade Limited
                     7.8.1 Company overview
                     7.8.2 Financial performance
                     7.8.3 Product benchmarking
                     7.8.4 Strategic initiatives
                 7.9. Baosteel Group.
                     7.9.1 Company overview
                     7.9.2 Financial performance
                     7.9.3 Product benchmarking
                     7.9.4 Strategic initiatives
                 7.10 VDM Metals GmbH,
                     7.10.1 Company overview
                     7.10.2 Financial performance
                     7.10.3 Product benchmarking
                     7.10.4 Strategic initiatives

List of Tables

Table 1 Steel service center market estimates and forecasts in metal fabrication & machine shops, 2014 - 2025 (Kilotons)
Table 2 Steel service center market estimates and forecasts in heavy industry, 2014 - 2025 (Kilotons)
Table 3 Steel service center market estimates and forecasts in consumer appliances, 2014 - 2025 (Kilotons)
Table 4 Steel service center market estimates and forecasts in HVAC, 2014 - 2025 (Kilotons)
Table 5 Steel service center market estimates and forecasts in food processing & agriculture, 2014 - 2025 (Kilotons)
Table 6 Steel service center market estimates and forecasts in oil & gas, 2014 - 2025 (Kilotons)
Table 7 Steel service center market estimates and forecasts in ground transportation, 2014 - 2025 (Kilotons)
Table 8 Steel service center market estimates and forecasts in other applications, 2014 - 2025 (Kilotons)
Table 9 North America steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 10 North America steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 11 U.S. steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 12 U.S. steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 13 Canada steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 14 Canada steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 15 Mexico steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 16 Mexico steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 17 Europe steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 18 Europe steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 19 Germany steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 20 Germany steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 21 U.K. steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 22 U.K. steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 23 France steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 24 France steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 25 Asia Pacific steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 26 Asia Pacific steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 27 China steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 28 China steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 29 India steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 30 India steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 31 Japan steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 32 Japan steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 33 Central & South America steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 34 Central & South America steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 35 Brazil steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 36 Brazil steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)
Table 37 Middle East & Africa steel service center market estimates and forecasts, 2014 - 2025 (Kilotons)
Table 38 Middle East & Africa steel service center market estimates and forecasts, by application, 2014 - 2025 (Kilotons)

List of Figures

Fig. 1 Steel service center market segmentation
Fig. 2 Information procurement
Fig. 3 Data analysis models
Fig. 4 Market formulation and validation
Fig. 5 Data validating & publishing
Fig. 6 Segment outlook
Fig. 7 Competitive Insights
Fig. 8 Steel service center market volume, 2014-2025, (Kilotons)
Fig. 9 Industry value chain analysis
Fig. 10 Global automotive production & sales 2014 - 2017 (Thousand units)
Fig. 11 Global vehicles production 2018 (%)
Fig. 12 Market restraint analysis
Fig. 13 Porter's analysis
Fig. 14 PESTEL analysis
Fig. 15 Steel service center market: Application movement analysis, 2018 & 2025
Fig. 16 Steel service center market: Regional snapshot
Fig. 17 Steel service center market