Increasing Budget Expenditure in Different Sector Boosting Saudi Arabia Steel Industry

Finished steel consumption in Saudi Arabia is projected to grow at a CAGR of 6.7% during 2015-2020, says RNCOS.


Noida, UP -- (SBWIRE) -- 09/17/2015 -- Saudi Arabia Government is taking ample initiatives for new projects to provide infrastructural support to different sectors. Government has increased the share of plan expenditure on economic and socio-economic expenditure. Sectors such as education, health, transportation, defense, water etc. are witnessing huge investment for development which is accelerating the demand of steel in these sectors.

Further Kingdom is also upgrading and modernizing existing ports, infrastructure projects in industrial cities well as upgrading airports and railroads projects. Thus the demand for steel is significantly increasing. According to a new report by RNCOS "Saudi Arabia Steel Industry Outlook 2020", the demand for steel has risen in the Kingdom propelling an equivalent increase in the production and consumption of steel.

Our report provides an in-depth research of the present status and future growth prospects of the Saudi Arabia steel industry. The report covers detailed analysis of steel production and consumption in Saudi Arabia covering both, crude & finished steel.

The report also features the details of crude steel production along with finished steel production and consumption in Saudi Arabia. To provide a clear picture of steel industry, the report is segmented into finished steel in long products that are classified as rebar, structural sections; flat products classified as coils, strips and sheets and plates and the tubular products. The report provides the current scenario and forecast for each of these segments till 2020.

Further, it analyzes Saudi Arabia steel industry by its application in major sectors viz. construction & infrastructure, manufacturing and oil & gas industry. Additionally, study of steel scrap market, information about the current regulatory environment and steel pricing in the Kingdom comprising price of Rebar, Hot rolled coil etc. has also been covered in this report. Further, this report covers a details analysis of major Saudi Arabia steel industry players with business overview, management profile and in some cases recent developments of major players.

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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.