Noida, UP -- (SBWire) -- 04/10/2011 -- The US represents one of the world’s largest steel industries that have recorded fast growth rates in terms of both production and consumption during the past few years. The industry has been benefitted from the soaring steel demand in the automobile and construction sectors. The government has also taken some corrective steps to revive the overall economy and infuse steel demand in the country. According to our research report “US Steel Industry Outlook”, all these factors together will help the US to raise its crude steel consumption, which is projected to grow at a CAGR of around 4% during 2010-2012.
Our study has identified the automobile industry as one of the largest consumers of steel in the US. The sector accounts for approximately one-fifths of the entire steel consumption. The direct steel purchases from the US mills were around 4.1 Million Tons in 2008. We expect the automobile productions to show rejuvenated performance from 2011 onwards. This will ultimately uplift the steel demand in the country and will support the industry to regain its fast growth momentum.
Our report “US Steel Industry Outlook” is an outcome of comprehensive research and unbiased analysis of the US steel industry and its various segments to present a clear picture of the past and present market trends. It evaluates the existing market opportunities in relation of factors, which are driving steel demand. The report also contains information about steel pricing and the government stimulus package to bring the industry back on growth track.
In addition, the research study has made projection for steel demand in different vertical industries to give a rough direction, in which, the steel industry is likely to move in near future. The competitive landscape segment is mainly focused on key industry players and provides valuable information about their business description, strategies together with SWOT analysis. Besides, our report has included steel pricing analysis along with the information on mergers and acquisitions in the US steel industry.
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About RNCOS
RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals study and analyze the industry and its various components, with comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the consultants in meeting their objectives in a cost-effective and timely manner.
Steel Demand Showing Steady Growth in the US
Crude steel consumption is projected to grow at a CAGR of around 4% during 2010-2012 in the US, says RNCOS in its research report.