Canada Carbon Steel Market Size & Outlook, 2023-2030
Canada carbon steel market, 2018-2030 (US$M)
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Canada carbon steel market highlights
- The Canada carbon steel market generated a revenue of USD 11,688.2 million in 2023 and is expected to reach USD 14,196.0 million by 2030.
- The Canada market is expected to grow at a CAGR of 2.8% from 2024 to 2030.
- In terms of segment, low carbon steel was the largest revenue generating type in 2023.
- Low Carbon Steel is the most lucrative type segment registering the fastest growth during the forecast period.
Carbon steel market data book summary
| Market revenue in 2023 | USD 11,688.2 million |
| Market revenue in 2030 | USD 14,196.0 million |
| Growth rate | 2.8% (CAGR from 2023 to 2030) |
| Largest segment | Low carbon steel |
| Fastest growing segment | Low Carbon Steel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Low Carbon Steel, Medium Carbon Steel, High Carbon Steel |
| Key market players worldwide | Cleveland-Cliffs Inc, ArcelorMittal SA Depository Receipt, BAOSTEEL, HBIS, JFE Holdings Inc, Nippon Steel Corp, POSCO Holdings Inc ADR, United States Steel Corp |
Other key industry trends
- In terms of revenue, Canada accounted for 1.2% of the global carbon steel market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In North America, U.S. carbon steel market is projected to lead the regional market in terms of revenue in 2030.
- Mexico is the fastest growing regional market in North America and is projected to reach USD 25,058.2 million by 2030.
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Carbon Steel Market Scope
Carbon Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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Canada carbon steel market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to carbon steel market will help companies and investors design strategic landscapes.
Low carbon steel was the largest segment with a revenue share of 86.39% in 2023. Horizon Databook has segmented the Canada carbon steel market based on low carbon steel, medium carbon steel, high carbon steel covering the revenue growth of each sub-segment from 2018 to 2030.
According to the data published by the International Organization of Motor Vehicle Manufacturers (OICA) in 2017, the overall sales of automobiles in Canada increased by 2.7% from 2016 to 2017. However, Canada automotive industry in the last few years witnessed a decline in growth rates. In 2019, overall sales of automobiles were down by 3.6% from its previous year.
However, in the long run, rising demand for automobiles coupled with the presence of stringent vehicular fuel emission regulations in Canada is likely to propel the demand for carbon steel over the forecast period. Low carbon steel finds application in bushing, clutch housing, and suspension components such as control arms and brackets.
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Our clientele includes a mix of carbon steel market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of country-level data and insights on the Canada carbon steel market , including forecasts for subscribers. This country databook contains high-level insights into Canada carbon steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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Canada carbon steel market size, by type, 2018-2030 (US$M)
Canada Carbon Steel Market Outlook Share, 2023 & 2030 (US$M)
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