U.S. Steel Industry Growth to Accelerate in 2015: SBI
(firmenpresse) - NEW YORK, NY -- (Marketwire) -- 09/12/12 -- Growth for the U.S. steel industry will not accelerate until at least 2015 when the impact of government-funded initiatives is felt in the industries that consume the most : construction, automotive and machinery/equipment. According to "" a report from market research firm SBI, the industry will post a 3.6% CAGR between 2018 and 2022, reaching a market value of $95.6 billion.
A slow recovery from the automotive, construction and heavy equipment manufacturing industry has directly impacted the production for steel since its boon between 2006-2007; the recovery for the , however, has been steady since the massive decline in 2009. According to the report, the United States, which comprises over two-thirds of the North American steel production, will produce 89.6 million tons of steel by the end of 2012.
"The complete economic impact of the U.S. is forecasted to be in excess of $80.1 billion in 2012," said Shelley Carr, publisher of SBI. "As the industry recovers, this impact will continue to climb upwards of $15 billion over the next 10 years."
The report finds the automotive industry, which is the leading segment of the U.S. steel market, has remained somewhat resilient through the declining years of . In addition, the versatility and reliability of steel over other construction materials will see a boon from the construction industry alongside its recovery.
"When you break down the automotive steel segment, 70% of it is original manufacture and 30% is after market," added Carr. "For construction, steel can be recycled and given a credit under the Leadership in Environmental and Energy Design (LEED), making it more 'green' when compared with other choices, a notable advantage."
The report, "examines the competitive and economic challenges facing raw steel producers and end-users of steel. Its analysis includes a historical perspective of the U.S. steel industry between 2006 and 2011 and forecasts the market value through 2022. It also discusses the key industries affected by U.S. steel production: construction, automotive, and heavy machinery/equipment. In addition, the report profiles the leading manufacturers of raw steel and values the import and export market of steel raw materials.
SBI Energy, a division of MarketResearch.com, publishes research reports in the industrial, , building/construction, and automotive/transportation markets. SBI Energy also offers a full range of custom research services. To learn more, visit .
Please direct all media inquiries to:
Shelley Carr
(717)552-8429
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Datum: 12.09.2012 - 08:58 Uhr
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