UAE is anticipated to be the fastest growing steel rebar market across the region, which is expected to expand at a CAGR of +9% through 2025.
NEW YORK, NY, UNITED STATES, October 16, 2019 /EINPresswire.com/ — Goldstein Research, a leading market intelligence & consulting firm in its latest study forecasts steel rebar market in Middle East to reach a valuation of USD 11.6 billion by 2025 growing at a 6.5% CAGR on the back of growing government initiatives for the completion of planned & under construction projects of worth over $4 trillion in MENA.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. It contains present ground scenario & future growth prospects of steel rebar in Middle East along with a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
Per Goldstein Research, Middle East has seen the fastest growing urban populations in the world for the past 50 years and longer. Growing rapid urbanization and growing investment in construction sector to develop infrastructure and to speed up the economic growth by developing manufacturing sector especially in developing countries such as UAE & Saudi Arabia have created market opportunities. UAE is anticipated to be the fastest growing steel rebar market across the region, which is expected to expand at a CAGR of +9% through 2025.
Analysts at Goldstein Research also reveal that Middle East Steel rebar market segmentation has been done on the basis of product type, steel rebar size, end-user and geography. Based on product type, deformed steel rebar accounted for the lion market share of more than 65% of Middle East steel rebar market. Further, deformed steel rebar is expected to be the fastest growing segment at a CAGR of +7% during the forecast period.
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Middle East Steel Rebar Market has been segmented as follows:
• By Product Type
o Mild steel bars
o Deformed steel bars
• By Steel Rebar Size (mm)
• By End Users
• By Country
o Kingdom of Saudi Arabia (KSA)
o United Arab Emirates (UAE)
o Rest of Middle East
Middle East Steel Rebar Market report by Goldstein Research contains detailed overview of the Middle East Steel rebar market. Further, for the in-depth analysis, it encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis. This market report also includes competitive outlook of some of the major players profiling of companies such as Star Steel International LLC, Emirates Rebar Limited, Union Iron and Steel, Conares, Hamriyah Steel, Emirates Steel, Rajhi Steel Industries Co. Ltd., Watania Steel Factory Corp., Al-Rashed Steel, United Steel Industrial Co., etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments.
Overall, the report represents the Middle East Steel rebar market trends along with market forecast that will help industry consultants, technology providers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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Source: EIN Presswire