MarketResearch.biz delivers in-depth insights on the global wear resistant steel market in its upcoming report titled, “Global Wear Resistant Steel Market Trends, Applications, Analysis, Growth, and Forecast: 2018 to 2027”. The global wear resistant steel market is estimated to register a CAGR of X.X% in terms of value during forecast period 2017–2026. The report offers in-depth insights, revenue details, and other vital information regarding the target market, and the various trends, drivers, restraints, opportunities, and threats till 2026. The report offers insightful and detailed information regarding the various key players operating in the market, their financials, supply chain trends, technological innovations, key developments, apart from future strategies, acquisitions & mergers, and market footprint. The global wear resistant steel market report has been segmented on the product, application, and region.
This report is based on synthesis, analysis, and interpretation of information gathered regarding the target market from various sources. Our analysts have analysed the information and data and gained insights using a mix of primary and secondary research efforts with the primary objective to provide a holistic view of the market. In addition, an in-house study has been made of the global economic conditions and other economic indicators and factors to assess their respective impact on the market historically, as well as the current impact in order to make informed forecasts about the scenarios in future.
Wear resistant steels provides extreme resistance to abrasive wear which significantly extends, the product life of components when exposed to extreme wear in industrial plants, vehicles, machinery, handling and conveying systems.
Properties of wear resistant steel, such as to resist wear, due to rubbing and impact from external agents such as sand, stones, and cement is expected to be major factor driving the growth of the market. Wear resistant steel is majorly used in construction equipment as a replacement of wearing parts. In addition, technological advancements in steel manufacturing process is another factor expected to boost growth of the global market over the forecast period. Rapidly growing construction, automobile, and mining industries, is in turn expected to create demand for wear resistant steels thereby, propelling growth of the target market over the forecast period.
Target audience for the global wear resistant steel market include industry associations, wear resistant steel producers, wear resistant steel traders, wear resistant steel suppliers, and wear resistant steel distributors, government and research organizations, industrial and association bodies, raw material suppliers, distributors, and others.
Asia Pacific market dominates the global wear resistant steel market in terms of revenue contribution as compared to that of markets in other regions. Rapidly growing construction and automobile industries in the region and significant presence of players operating in the market are major factors expected to drive growth of the region over the forecast period. Increasing demand for wear resistant steel in countries such as India and China is expected to support growth of the region over the forecast period. North America accounts for second-largest revenue share contribution to the global wear resistant steel market, followed by markets in the Europe, Latin America, and the Middle East & Africa respectively.
Global wear resistant steel market segmentation, by product:
- High Manganese Steel
- Middle and Low Alloy Wear Resistant Steel
- Erosion corrosion Resistant Steel
- Special Wear Resistant Steel
Global wear resistant steel market segmentation, by application:
- Mining Machinery
- Construction Machinery
- Engineering Machinery
Global wear resistant steel market segmentation, by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- Arcelor Mittal S.A.
- SSAB AB
- Thyssenkrupp AG
- Tricon Wear Solutions LLC
- Oakley Steel Limited
- Titus Steel
- Nucor Corporation
- Ambo Stahl
- Baosteel Stainless Steel Co., Ltd.
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