• Cat-intel
  • MedIntelliX
  • Consulting
  • Resources
  • About Us
  • News
  • Careers
  • Contact Us
  • Login
    • English
    Chinese
    French
    Hindi

    Steel Products Market

    ID: 6768
    140 Pages
    Research Team
    07/2025

    Steel Products Market Research Report Information, By Steel Type (Carbon Steel, and Alloy Steel), By Shape Of Steel Products (Long Steel, Tubular Steel, and Flat Steel), By End-Uses (Shipping, Energy, Construction, Packaging, Consumer Appliances Industry, Automotive, Housing, and Others), And, By Region (North America, Europe, Asia-Pacific, And Rest of the World) –Market Forecast till 2032

    Share:
    ReportInfographic

    Purchase Options

    $ 4,950.0
    $ 5,950.0
    $ 7,250.0
    Compare License

    Market Summary

    Global Steel Products Market Overview

    Steel Products Market Size was valued at USD 452.66 Billion in 2023. The Steel Products market industry is projected to grow from USD 478.91 Billion in 2024 to USD 751.87 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2024 - 2032). Growing urbanization and rising construction projects, and others are the key market drivers enhancing the growth of the studied market.

    Steel Products Market Overview Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Steel Products Market Trends

    Rising demand from various industries are driving the market growth

    The growing adoption of steel products across various end-use industries and the rise in R&D-related activities is driving market CAGR for steel products. The demand for steel is increasing as a result of the end-use industries' explosive growth, which includes, among others, the automotive, chemical, power, construction, and architectural sectors. This is one of the major drivers of market revenue growth. Steel is one of the most widely utilized building materials because it allows a structure to withstand seismic shocks brought on by earthquakes and other natural disasters. In addition to being rust-resistant, they are unaffected by termites, mildew, bugs, mold, and fungus. The construction sector, which is growing significantly as a result of an increase in residential, commercial, retail, entertainment, and hotel development projects, is the main driver of market revenue growth.  

    Bollards, ticketing counters, benches, escalators and canopies are just a few of the many transit facilities, such as airports and metro rapid mass transportation systems, that frequently use steel in their construction. This is one of the main driving forces for the rise in market revenue. Swimming pool components like pool liners, railings, ladders, structural pieces, fasteners, furnishings, diving structures, decorative objects, and ventilation systems are all made of architectural and structural steel.

    Due to the benefits of the product, such as its malleability, ductility, durability, hardness, and versatility, the steel business has seen a constant increase in demand, making it one of the top industries worldwide. The market expansion has been driven further by the extensive usage of steel in the manufacturing processes across a variety of sectors. The demand for steel is expected to rise as populations and living standards rise.

    Prospects for the steel industry are favorable due to the growing infrastructure and automobile industries. The market is expected to benefit significantly from the increasing demand for alternative and sustainable energy sources because stainless steel is widely utilized in the infrastructure of renewable energy sources including solar, wind, and hydropower. The market is anticipated to benefit from the rise in household income and purchasing power because steel is used in so many domestic items, including refrigerators, televisions, ovens, and others. Thus, driving the Steel Products market revenue.

    Steel Products Market Segment Insights

    Steel Products Steel Type Insights

    The Steel Products market segmentation, based on steel type, includes Carbon steel, and Alloy steel. The market share that belonged to carbon steel was the highest. In comparison to other steel kinds, carbon steel has a higher concentration of carbon. This kind of steel is appropriate for usage in huge structures since it contains a carbon content that can reach up to 2.5%, considerably boosting the steel's strength. Low carbon, medium carbon, and high carbon are the three different forms of carbon steel. Due to the wide range of options, carbon steel is best for a variety of building activities. Products created from carbon steel are stronger than those made from low-carbon steel because it is durable and powerful.

    Steel Products End-Users Insights

    The Steel Products market segmentation, based on the end-users, includes shipping, energy, construction, packaging, consumer appliances industry, automotive, housing, and others. The largest market segment, accounting for a sizable portion of the market, was construction. In the real estate industry, long steel goods are widely employed for a variety of purposes. Rebar made of steel adheres well to concrete. Its thermal coefficient is comparable to that of concrete. As a result, it is primarily employed in the construction of dams, slabs, and building foundations.

    Steel Products Shape of steel products Insights

    Based on the shape of steel products, the Steel Products market segmentation includes Long steel, Tubular steel, and Flat steel. The flat steel segment accounted for the greatest market share. The main raw materials used to make flat steel are iron ore, scrap steel, and coal. The product is recognized to increase final goods' durability, dependability, uniformity, and quality while lowering waste. Additionally, it facilitates hassle-free processing, increases production, and lengthens product shelf life while enhancing the performance of end-user items. These elements boost product demand in the construction and automobile sectors.

    Figure 1: Steel Products Market, By Shape Of Steel Products, 2022 & 2032 (USD Billion)

    Steel Products Market, By Shape Of Steel Products

    Source: Secondary Research, Primary Research, MRFR Database and Analyst Review

    Steel Products Regional Insights

    By region, the study provides market insights into North America, Europe, Asia-Pacific, and the Rest of the World. During the projected period, the North American Steel Products market is expected to dominate over the course of the forecasted period. The market is growing due to heavy demand for steel products. In addition, the increasing demand for electronic as well as engineering applications is also driving the market’s growth.

    Further, the major countries studied in the market report are The US, Canada, German, France, the U.K., Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

    Figure 2: STEEL PRODUCTS MARKET SHARE BY REGION 2022 (USD Billion)

    STEEL PRODUCTS MARKET SHARE BY REGION 2022

    Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Asia Pacific Steel Products market accounts for the fastest market share. This is due to the growing urbanization and technical upgrades in steel manufacturing. Moreover, the China Steel Products market held the largest market share, and the India Steel Products market was the quickest-growing market in the Asia-Pacific region.

    The Europe Steel Products Market is expected to expand at the quickest CAGR from 2023 to 2032. The reason being is ever growing automotive industry and rising demand for steel for making sheets and HRC. Further, the Canada Steel Products market was the fastest-growing region in the market, and the German Steel Products market held a substantial share of the market.

    Steel Products Key Market Players & Competitive Insights

    Leading market players are investing capital and resources across research and development in order to extend their product offerings, this is expected to help the Steel Products market, grow even more. Market leaders and manufacturers are also adopting various strategies to expand their worldwide footprint, with important market developments including new product developments & launches, contracts & agreements, mergers & acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Steel Products industry must offer cost-effective items.

    The manufacturers are making use of locally available resources to minimize the production costs which will aid the growth of the Steel Products industry to benefit clients and increase the market sector. In recent years, the Steel Products industry has offered some of the most significant advantages to medicine. Major players in the Steel Products market, including ArcelorMittal (Luxembourg), Gerdau SA (Brazil), POSCO (South Korea), Nippon Steel & Sumitomo Metal Corporation (Japan), JFE Holdings, Inc. (Japan), Baosteel Group Corporation (China), TATA Steel Ltd. (India), United States Steel (U.S.), Angang Steel Company Limited (China), and others, are attempting to increase market demand by investing in research and development operations.

    An integrated steel manufacturing business is ArcelorMittal SA (ArcelorMittal). It produces and sells a variety of completed and semi-finished steel goods. Flat steel, including sheet and plate, and long steel, including bars, rods, and structural shapes, are both included in the company's product line. Additionally, it makes pipes and tubes for use in a variety of applications and mining products, such as thermal coal, pulverized coal injection (PCI), sinter feed, and lump and fine iron ore. In the Americas, Europe, Asia, and Africa, ArcelorMittal also conducts mining activities for coal and iron ore. It primarily sells steel goods locally and through a centralized marketing organisation to clients in the equipment, engineering, automotive, appliance, and construction industries. Luxembourg serves as the company's headquarters. In April 2023, ArcelorMittal and BP2, a provider of comprehensive residential construction solutions, partnered to supply low carbon-emissions steel for BP2's newest offering, the SOLROOF integrated photovoltaic roof.

    A steel manufacturing business with integrated operations is POSCO Holdings Inc. (POSCO). It manufactures and sells steel plates and rolled goods all over the world. For the automobile, shipbuilding, home appliance, engineering, and machinery industries, the company provides hot-rolled and cold-rolled goods, wire rods, plates, silicon steel sheets, and stainless-steel products. Additionally, POSCO provides planning, design, and building services for industrial facilities, civil engineering projects, and office and residential structures. The corporation also engages in various business ventures, including network and system integration, steel and raw material trading, and power generating. It conducts business across the Americas, Europe, the Middle East, and Asia-Pacific. In Pohang-si, Gyeongsangbuk-do, South Korea, POSCO has its headquarters. In June 2023, As part of the company's ambitious goal to achieve carbon neutrality by 2050, Posco announced the introduction of a ground-breaking low-carbon steel product called Greenate-certified steel. According to Korea Herald, LG Electronics, the first customer to purchase the recently introduced low-emission steel for its home appliance manufacture, is the first user of this environmentally friendly steel.

    Key Companies in the Steel Products market include

      • Gerdau SA (Brazil)
      • POSCO (South Korea)
      • Nippon Steel & Sumitomo Metal Corporation (Japan)
      • JFE Holdings, Inc. (Japan)
      • TATA Steel Ltd. (India)
      • United States Steel (U.S.)
      • Angang Steel Company Limited (China)

    Steel Products Industry Developments

    March 2022: The largest producer and exporter of recycled metal products in North America, Schnitzer Steel Industries, Inc., has introduced GRN SteelTM, a line of net-zero carbon products, from its Cascade Steel manufacturing facilities in McMinnville, Oregon.

    September 2022: Nippon Steel, a Japanese steel company, has said that it will begin selling green steel products in the first part of the fiscal year 2023. Under the trade name NS Carbolex Neutral, steel with reduced carbon emissions will be offered for sale.

    Steel Products Market Segmentation

    Steel Products Steel type Outlook (USD Billion, 2018-2032)

      • Carbon steel
      • Alloy steel

    Steel Products, Shape of steel products Outlook (USD Billion, 2018-2032)

      • Long steel
      • Tubular steel
      • Flat steel

    Steel Products, End-users Outlook (USD Billion, 2018-2032)

      • Shipping
      • Energy
      • Construction
      • Packaging
      • Consumer appliances industry
      • Automotive
      • Housing
      • Others

    Steel Products Regional Outlook

      • North America
        • US
        • Canada
      • Europe
        • Germany
        • France
        • UK
        • Italy
        • Spain
        • Rest of Europe
      • Asia-Pacific
        • China
        • Japan
        • India
        • Australia
        • South Korea
        • Australia
        • Rest of Asia-Pacific
      • Rest of the World
        • Middle East
        • Africa
        • Latin America

    Market Size & Forecast

    Report Attribute/Metric Details
    Market Size 2023 USD 452.66 Billion
    Market Size 2024 USD 478.91 Billion
    Market Size 2032 USD 751.87 Billion
    Compound Annual Growth Rate (CAGR) 5.80% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2018- 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Steel type, Shape of steel products, End-users, and Region
    Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
    Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled ArcelorMittal (Luxembourg), Gerdau SA (Brazil), POSCO (South Korea), Nippon Steel & Sumitomo Metal Corporation (Japan), JFE Holdings, Inc. (Japan), Baosteel Group Corporation (China)
    Key Market Opportunities Growing construction and automotive industries
    Key Market Dynamics Rising applications across various industries due to the multiple benefits of using steel products

    Major Players

    Steel Products Steel type Outlook (USD Billion, 2018-2032)

    • Carbon steel

    • Alloy steel

    Steel Products, Shape of steel products Outlook (USD Billion, 2018-2032)

    • Long steel

    • Tubular steel

    • Flat steel

    Steel Products, End-users Outlook (USD Billion, 2018-2032)

    • Shipping

    • Energy

    • Construction

    • Packaging

    • Consumer appliances industry

    • Automotive

    • Housing

    • Others

    Steel Products Regional Outlook (USD Billion, 2018-2032)

    • North America Outlook (USD Billion, 2018-2032)

      • North America Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • North America Steel Products by End-use Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • North America Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • US Outlook (USD Billion, 2018-2032)

      • US Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • US Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • US Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • CANADA Outlook (USD Billion, 2018-2032)

      • CANADA Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • CANADA Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • CANADA Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

    • Europe Outlook (USD Billion, 2018-2032)

      • Europe Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Europe Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Europe Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • Germany Outlook (USD Billion, 2018-2032)

      • Germany Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Germany Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Germany Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • France Outlook (USD Billion, 2018-2032)

      • France Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • France Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • France Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • UK Outlook (USD Billion, 2018-2032)

      • UK Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • UK Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • UK Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • ITALY Outlook (USD Billion, 2018-2032)

      • ITALY Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • ITALY Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • ITALY Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • SPAIN Outlook (USD Billion, 2018-2032)

      • Spain Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Spain Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Spain Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • Rest Of Europe Outlook (USD Billion, 2018-2032)

      • Rest Of Europe Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • REST OF EUROPE Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • REST OF EUROPE Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

    • Asia-Pacific Outlook (USD Billion, 2018-2032)

      • Asia-Pacific Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Asia-Pacific Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Asia-Pacific Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • China Outlook (USD Billion, 2018-2032)

      • China Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • China Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • China Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • Japan Outlook (USD Billion, 2018-2032)

      • Japan Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Japan Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Japan Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • India Outlook (USD Billion, 2018-2032)

      • India Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • India Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • India Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • Australia Outlook (USD Billion, 2018-2032)

      • Australia Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Australia Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Australia Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • Rest of Asia-Pacific Outlook (USD Billion, 2018-2032)

      • Rest of Asia-Pacific Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Rest of Asia-Pacific Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Rest of Asia-Pacific Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

    • Rest of the World Outlook (USD Billion, 2018-2032)

      • Rest of the World Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Rest of the World Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Rest of the World Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • Middle East Outlook (USD Billion, 2018-2032)

      • Middle East Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Middle East Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Middle East Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • Africa Outlook (USD Billion, 2018-2032)

      • Africa Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Africa Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Africa Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

      • Latin America Outlook (USD Billion, 2018-2032)

      • Latin America Steel Products by Steel type

        • Carbon steel

        • Alloy steel

      • Latin America Steel Products by Shape of steel products Steel type

        • Long steel

        • Tubular steel

        • Flat steel

      • Latin America Steel Products by End-users

        • Shipping

        • Energy

        • Construction

        • Construction

        • Packaging

        • Consumer appliances industry

        • Automotive

        • Housing

        • Others

    Market Trends

    Global Steel Products Market Overview

    Steel Products Market Size was valued at USD 452.66 Billion in 2023. The Steel Products market industry is projected to grow from USD 478.91 Billion in 2024 to USD 751.87 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 5.80% during the forecast period (2024 - 2032). Growing urbanization and rising construction projects, and others are the key market drivers enhancing the growth of the studied market.

    Steel Products Market Overview Source: Secondary Research, Primary Research, MRFR Database, and Analyst Review

    Steel Products Market Trends

    Rising demand from various industries are driving the market growth

    The growing adoption of steel products across various end-use industries and the rise in R&D-related activities is driving market CAGR for steel products. The demand for steel is increasing as a result of the end-use industries' explosive growth, which includes, among others, the automotive, chemical, power, construction, and architectural sectors. This is one of the major drivers of market revenue growth. Steel is one of the most widely utilized building materials because it allows a structure to withstand seismic shocks brought on by earthquakes and other natural disasters. In addition to being rust...

    Market Segment Insights

    Smartphone Sensors Smartphone Type Insights

    The Smartphone Sensors market segmentation, based on smartphone type, includes standard smartphone, rugged smartphone, smartwatches, and other wearable. The standard smartphone segment dominated the market, accounting for the maximum market revenue. A smartphone is a mobile phone with a built-in computer and advanced features, such as web browsing and operating system, which are not associated with its counterpart. The rising mobile internet use, rising disposable income in developing countries, and high ownership of premium design smartphones are a few factors that are anticipated to grow smartphone sales. Smartphones are helped by a mobile operating system that offers advanced computing facilities. A smartphone can also work as a digital media player for uploading photos, videos, and music through a single interface.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035
    Get detailed insights about Steel Products Market

    Smartphone Sensors Manufacturer Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Application Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Regional Insights

    The Smartphone Sensors market segmentation, based on the manufacturer, includes Apple Inc., Samsung Electronics, Huawei Technology, Xiaomi Inc., Oppo, Sony Corporation, HMD Global, and others. The Apple Inc. segment generated the most revenue due to its superior quality. Apple’s iPhone stands out over all other smartphones in the market. Apple Inc. is the market leader because they use more sensors in their devices to provide unique features. For Instance: Apple’s iPhone 12 uses a lidar for depth sensing, proximity for 3D touch, a gyroscope for compass, GPS, face ID for biometrics, auto-off, a barometer, a magnetometer for compass & GPS, and an ambient light sensor for auto-dimming displays. The better user experience, increased accessibility, and more security these sensors offer consumers to boost the segment‘s growth.

    Smartphone Sensors Market, By Device Type Outlook, 2024 & 2035
    Get detailed insights about Smartphone Sensors Market

    Smartphone Sensors Price Insights

    The Smartphone Sensors market segmentation, based on price, includes USD 300 to USD 500, USD 100 to USD 300, above USD 500, and under USD 100. The USD 300 to USD 500 segment dominated the market revenue in the projected period. Most smartphones sold in medium-end devices have a sensor within this range. For instance: Nubia launched a new flagship Android device powered by the latest Snapdragon 8Gen 2CPU. The OEM has also specified that this gadget, which peculiarly seems to go by the name Z50 even though its processor was the z40 Pro, will compete with the Xiaomi 13 and iQOO11 series with cutting-edge LPDDR5X RAM and storage with the most recent UFS 4.0 spec.

    Get more detailed insights about Steel Products Market

    Key Players and Competitive Insights

    Leading market players are investing heavily in research and development to expand their product lines, which will help the Smartphone Sensors market, grow even more. Market participants are also undertaking various strategic activities to expand their footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and growing market climate, the Smartphone Sensors industry must offer cost-effective items.

    Manufacturing locally to minimize operational costs is one of the key business tactics manufacturers use in the Smartphone Sensors industry to benefit clients and increase the market sector. In recent years, the Smartphone Sensors industry has offered manufacturers some of the most significant advantages. Major players in the Smartphone Sensors market, including MS AG (Austria), Broadcom Inc. (US), DYNA IMAGE Corporation (China), Murata Electronics Oy (Finland), NEXT Biometrics Group ASA (Norway), Omron Corporation (Japan), Samsung Electronics Co. Ltd. (South Korea), Sony Corporation (Japan)., and others, are attempting to increase market demand by investing in research and development operations.

    Samsung is dedicated to abiding by local laws and regulations and enforcing a strict code of conduct for all employees. Samsung adheres to a straightforward business tent: to usage its technology and expertise to develop top-notch goods and services that make a more cultured world. Samsung provides a high importance on its people and technologies to do this. For Instance: In January 2023, Samsung Electronics launched its new MICRO LED, Neo QLED, and Samsung OLED product lines, along with lifestyle products and accessories, before CES® 2023.

    Apple Inc. is a multinational American technology business with its main office in Cupertino, California. According to revenue, Apple will be the top technological business in the world in 2022, with US $ 394.3 billion in sales. According to market capitalization, Apple is the largest corporation in the world as of March 2023. For Instance: In September 2022, the iPhone 14 and iPhone 14 Plus, which come in two sizes, 6.1 and 6.7 inches and include a smart design, camera upgrades, and game-changing new safety measures, were introduced by Apple. The iPhone 14 and iPhone 14 Plus have a powerful camera system that incorporates the primary and front TrueDepth cameras, the Ultra Wide camera for uncommon perspectives, and the photonic engine, an enhanced picture pipeline.

    Key Companies in the Smartphone Sensors market include

    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)
    MS AG (Austria)

    Industry Developments

    • September 2022: Comcast and Samsung Electronics announced their partnership to create 5G Radio Access Network (RAN) technologies to enhance 5G connection for Xfinity Mobile and Comcast Business Mobile users in Comcast service zones. Samsung will provide 5G RAN technology, and Comcast will deploy Citizens Broadband Radio Service (CBRS) and 600 MHz spectrum to provide 5G access to consumer and business users in the US.
    • October 2022: Huawei announced the release of the newest antenna solutions, including the Maxwell platform and the X2 antenna series, for the subsequent 5G antenna innovation stage. The new technologies speed up 5G deployment by improving antenna and setup capabilities.

    Market Segmentation

    Smartphone Type Outlook

    • Standard Smartphone
    • Rugged Smartphone
    • Smartwatches
    • Other Wearable

    Price Outlook

    • USD 300 to USD 500
    • USD 100 to USD 300
    • Above USD 500
    • Under USD 100

    Manufacturer Outlook

    • Apple Inc.
    • Samsung Electronics
    • Huawei Technology
    • Xiaomi Inc.
    • Oppo
    • Sony Corporation
    • HMD Global

    Application Outlook

    • High-Level
    • Mid-Level
    • Low-Level

    Manufacturer Outlook

    North America
    • US
    • Canada
    Europe
    • Germany
    • France
    • UK
    • Italy
    • Spain
    • Rest of Europe
    Asia-Pacific
    • China
    • Japan
    • India
    • Italy
    • Australia
    • South Korea
    • Rest of Asia-Pacific
    Rest of the World
    • Middle East
    • Africa
    • Latin America

    Report Scope

    Report Attribute/Metric Details
    Market Size 2023 USD 452.66 Billion
    Market Size 2024 USD 478.91 Billion
    Market Size 2032 USD 751.87 Billion
    Compound Annual Growth Rate (CAGR) 5.80% (2024-2032)
    Base Year 2023
    Market Forecast Period 2024-2032
    Historical Data 2018- 2022
    Market Forecast Units Value (USD Billion)
    Report Coverage Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends
    Segments Covered Steel type, Shape of steel products, End-users, and Region
    Geographies Covered North America, Europe, Asia Pacific, and the Rest of the World
    Countries Covered The US, Canada, German, France, UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil
    Key Companies Profiled ArcelorMittal (Luxembourg), Gerdau SA (Brazil), POSCO (South Korea), Nippon Steel & Sumitomo Metal Corporation (Japan), JFE Holdings, Inc. (Japan), Baosteel Group Corporation (China)
    Key Market Opportunities Growing construction and automotive industries
    Key Market Dynamics Rising applications across various industries due to the multiple benefits of using steel products

    Market Highlights

    Author

    Aarti Dhapte
    Team Lead - Research

    She holds an experience of about 6+ years in market research and business consulting, working under the spectrum of information communication technology, telecommunications and semiconductor domains. aarti conceptualizes and implements a scalable business strategy and provides strategic leadership to the clients. her expertise lies in market estimation, competitive intelligence, pipeline analysis, customer assessment, etc.

    Leave a Comment

    Latest Comments

    John Doe
    john@example.com

    This is a great article! Really helped me understand the topic better.

    Posted on July 23, 2025, 10:15 AM
    Jane Smith
    jane@domain.com

    Thanks for sharing this. I’ve bookmarked it for later reference.

    Posted on July 22, 2025, 7:45 PM
    View All

    FAQs

    At what CAGR is the steel products market expected to grow over the forecast period?

    The steel products market is predicted to grow at a 2.5% CAGR between 2019-2025.

    Which region will dominate the steel products market?

    The APAC region is predicted to dominate the steel products market.

    Which end use industry has the maximum share in the steel products market?

    The automotive industry has the maximum share in the steel products market.

    What are the key factors driving the growth of the steel products market?

    Rising automobile production, growing aerospace industry, and rapid industrialization are boosting market growth.

    Who are the leading players profiled in the steel products market?

    Leading players profiled in the steel products market include Maanshan Steel (China), JIANLONG GROUP (China), JSW Steel Limited (India), Nucor Corporation (US), China Steel Corporation (Taiwan), Hyundai Steel Company (South Korea), HBIS Group (China), Thyssenkrup (Germany), NSSMC Group (Japan), Tata Steel Group (India), POSCO (South Korea), China Baowu Group (China), ArcelorMittal (Luxembourg), and Shangang Group (China).

    1. Executive Summary
    2. Market Introduction
      1. Scope of the Study
      2. List of Assumptions
    3. Market Research Methodology
      1. Research Process
      2. Primary Research
      3. Secondary Research
      4. Market Size Estimation
      5. Forecast Model
    4. Market Dynamics of Global Steel Products Market
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Trends/Technology
    5. Market Factor Analysis of Global Steel
      1. Supply Chain Analysis
        1. Raw Material Suppliers
        2. Manufacturers/Producers
        3. Distributors/Retailers/Wholesalers/E-Commerce
        4. End User
      2. Porter’s Five Forces Analysis
        1. Threat
        2. Bargaining Power of Buyers
        3. Bargaining Power
        4. Threat of Substitutes
        5. Intensity of Competitive
      3. Pricing Analysis
      4. Introduction
      5. Structural Steel
        1. Market Estimates
        2. Market Estimates & Forecast, by Region,
      6. Iron Steel Wire
        1. Market Estimates & Forecast, 2023-2032
        2. Market Estimates & Forecast, by Region, 2023-2032
      7. Ingots and
        1. Market Estimates & Forecast, 2023-2032
        2. Market Estimates & Forecast, by Region, 2023-2032
      8. Bars and
        1. Market Estimates & Forecast, 2023-2032
        2. Market Estimates
      9. Tubes and Pipes
        1. Market
        2. Market Estimates & Forecast,
      10. Castings & Forgings
        1. Market Estimates
        2. Market Estimates & Forecast, by Region,
      11. Plates & Sheets
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast, by Region, 2023-2032
        3. Market Estimates & Forecast, 2023-2032
        4. Market Estimates
      12. Introduction
      13. Construction
        1. Market Estimates
        2. Market Estimates & Forecast, by Region,
      14. Automotive
        1. Market Estimates & Forecast, 2023-2032
        2. Market Estimates & Forecast, by Region, 2023-2032
      15. Oil &
        1. Market Estimates & Forecast, 2023-2032
        2. Market Estimates
      16. Shipbuilding
        1. Market Estimates
        2. Market Estimates & Forecast, by Region,
      17. Mechanical Equipment
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast, by Region, 2023-2032
        3. Market Estimates & Forecast, 2023-2032
      18. Domestic Appliances
        1. Market Estimates & Forecast, 2023-2032
        2. Market Estimates &
      19. Others
        1. Market Estimates &
        2. Market Estimates & Forecast, by Region, 2023-2032
      20. Introduction
      21. North
        1. Market Estimates & Forecast, 2023-2032
        2. Market
        3. Market Estimates
        4. US
        5. Canada
        6. Market Estimates & Forecast, 2023-2032
        7. Market Estimates
        8. Market Estimates & Forecast,
        9. Germany
        10. France
        11. Italy
        12. Spain
        13. Russia
        14. Poland
        15. Rest of Europe
      22. Asia-Pacific
        1. Market
        2. Market Estimates & Forecast,
        3. Market Estimates & Forecast, by End-Use
        4. China
        5. Japan
        6. Australia & New Zealand
        7. Rest of Asia-Pacific
        8. Market Estimates & Forecast, 2023-2032
        9. Market Estimates & Forecast, by Product Type, 2023-2032
        10. Market
        11. GCC
        12. Israel
        13. Turkey
        14. Rest of Middle East & Africa
      23. Latin America
        1. Market Estimates & Forecast,
        2. Market Estimates & Forecast, by Product Type, 2023-2032
        3. Market Estimates & Forecast, by End-Use Industry, 2023-2032
        4. Argentina
        5. Mexico
      24. Introduction
      25. Market Strategy
      26. Key Development
      27. ArcelorMittal
        1. Company Overview
        2. Product/Business Segment Overview
        3. Strategy
        4. Key Developments
        5. SWOT Analysis
      28. POSCO
        1. Financial Updates
        2. Product/Business Segment
        3. Strategy
        4. Key Developments
        5. SWOT Analysis
      29. Shangang Group
        1. Company Overview
        2. Financial Updates
        3. Product/Business Segment Overview
        4. Strategy
        5. Key
        6. SWOT Analysis
      30. NSSMC Group
        1. Company
        2. Financial Updates
        3. Product/Business Segment Overview
        4. Strategy
        5. Key Developments
        6. SWOT Analysis
        7. Company Overview
        8. Financial Updates
        9. Product/Business Segment Overview
        10. Strategy
        11. Key
        12. SWOT Analysis
      31. HBIS Group
        1. Company
        2. Financial Updates
        3. Product/Business Segment Overview
        4. Strategy
        5. Key Developments
        6. SWOT Analysis
        7. Company Overview
        8. Financial Updates
        9. Strategy
        10. Key Developments
        11. SWOT Analysis
      32. Nucor Corporation
        1. Company Overview
        2. Financial Updates
        3. Product/Business Segment Overview
        4. Key Developments
        5. SWOT Analysis
      33. Hyundai
        1. Company Overview
        2. Financial Updates
        3. Strategy
        4. Key Developments
        5. SWOT Analysis
      34. China Steel Corporation
        1. Company Overview
        2. Financial Updates
        3. Product/Business Segment Overview
        4. Key Developments
        5. SWOT Analysis
      35. JIANLONG
        1. Company Overview
        2. Financial Updates
        3. Strategy
        4. Key Developments
        5. SWOT Analysis
      36. Maanshan Steel
        1. Company Overview
        2. Financial Updates
        3. Product/Business Segment Overview
        4. Key Developments
        5. SWOT Analysis
      37. Thyssenkrup
        1. Company Overview
        2. Financial Updates
        3. Product/Business
        4. Strategy
        5. Key Developments
      38. JSW Steel Limited
        1. Company Overview
        2. Product/Business Segment Overview
        3. Strategy
        4. Key Developments
        5. SWOT Analysis
        6. SWOT Analysis
    6. Global Steel Products Product Type Market, by Regions, 2023-2032
    7. Europe: Steel Products Product Type Market, by Country, 2023-2032

    Steel Products Steel type Outlook (USD Billion, 2018-2032)

    • Carbon steel
    • Alloy steel

    Steel Products, Shape of steel products Outlook (USD Billion, 2018-2032)

    • Long steel
    • Tubular steel
    • Flat steel

    Steel Products, End-users Outlook (USD Billion, 2018-2032)

    • Shipping
    • Energy
    • Construction
    • Packaging
    • Consumer appliances industry
    • Automotive
    • Housing
    • Others

    Steel Products Regional Outlook (USD Billion, 2018-2032)

    • North America Outlook (USD Billion, 2018-2032)

      • North America Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • North America Steel Products by End-use Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • North America Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • US Outlook (USD Billion, 2018-2032)

      • US Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • US Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • US Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • CANADA Outlook (USD Billion, 2018-2032)

      • CANADA Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • CANADA Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • CANADA Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

    • Europe Outlook (USD Billion, 2018-2032)

      • Europe Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Europe Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Europe Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • Germany Outlook (USD Billion, 2018-2032)

      • Germany Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Germany Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Germany Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • France Outlook (USD Billion, 2018-2032)

      • France Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • France Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • France Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • UK Outlook (USD Billion, 2018-2032)

      • UK Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • UK Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • UK Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • ITALY Outlook (USD Billion, 2018-2032)

      • ITALY Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • ITALY Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • ITALY Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • SPAIN Outlook (USD Billion, 2018-2032)

      • Spain Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Spain Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Spain Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • Rest Of Europe Outlook (USD Billion, 2018-2032)

      • Rest Of Europe Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • REST OF EUROPE Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • REST OF EUROPE Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

    • Asia-Pacific Outlook (USD Billion, 2018-2032)

      • Asia-Pacific Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Asia-Pacific Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Asia-Pacific Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • China Outlook (USD Billion, 2018-2032)

      • China Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • China Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • China Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • Japan Outlook (USD Billion, 2018-2032)

      • Japan Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Japan Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Japan Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • India Outlook (USD Billion, 2018-2032)

      • India Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • India Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • India Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • Australia Outlook (USD Billion, 2018-2032)

      • Australia Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Australia Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Australia Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • Rest of Asia-Pacific Outlook (USD Billion, 2018-2032)

      • Rest of Asia-Pacific Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Rest of Asia-Pacific Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Rest of Asia-Pacific Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

    • Rest of the World Outlook (USD Billion, 2018-2032)

      • Rest of the World Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Rest of the World Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Rest of the World Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • Middle East Outlook (USD Billion, 2018-2032)

      • Middle East Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Middle East Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Middle East Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • Africa Outlook (USD Billion, 2018-2032)

      • Africa Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Africa Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Africa Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others

      • Latin America Outlook (USD Billion, 2018-2032)

      • Latin America Steel Products by Steel type
        • Carbon steel
        • Alloy steel
      • Latin America Steel Products by Shape of steel products Steel type
        • Long steel
        • Tubular steel
        • Flat steel
      • Latin America Steel Products by End-users
        • Shipping
        • Energy
        • Construction
        • Construction
        • Packaging
        • Consumer appliances industry
        • Automotive
        • Housing
        • Others
    Infographic

    Free Sample Request

    Kindly complete the form below to receive a free sample of this Report

    Related Reports

    Global Reports
    Regional Reports
    Country Reports

    Customer Strories

    Watch Video

    “I am very pleased with how market segments have been defined in a relevant way for my purposes (such as "Portable Freezers & refrigerators" and "last-mile"). In general the report is well structured. Thanks very much for your efforts.”

    Jongwon Byun

    Director, Research Operations
    Case Study

    Smartphone Motherboard Parts Manufacturing Research

    Smartphone Motherboard Parts Manufacturing Research