PRZOOM - /newswire/ -
Noida, Uttar Pradesh, India, 2010/07/14 - Increasing demand from automobile and construction industries will lead steel consumption to grow at 8.3% CAGR during FY 2010 – FY 2013.
According to our latest research report “Indian Steel Industry Outlook to 2012”, the Indian steel industry has made a rapid progress on strong fundamentals over the past few years. Manufacturing, housing and infrastructure are some of the important fields that are closely associated with steel consumption in India. In the recently announced budget, the Indian government has funded many infrastructure development and modernization of urban and rural areas projects and most of these projects are expected to be completed by 2012-13, which will enable steel consumption to grow at around 8.3% by FY 2013.
The report reveals that the Indian steel industry is still struggling to tap the huge market potential. In 2008-09, per capita steel consumption in urban areas was estimated at 145 Kg, whereas in rural areas the figure stood at only 3 Kg. However, in the 11th Five-Year Plan, a great emphasis has been given to the infrastructure developments in the rural areas, but still majority of developments will take place in Tier-1, 2 and 3 cities of the country, which will ultimately uplift the per capita steel consumption in urban areas.
Our report further highlights that in infrastructure sector, roads and power sub-segments are the prominent steel consumers among others. In FY 2010, these two sub-sectors together accounted for just above 67% of entire steel consumed in infrastructure sector. In coming years also, their share is anticipated to grow even further, backed by various factors, discussed and analyzed thoroughly in the report.
Our report “Indian Steel Industry Outlook to 2012” provides extensive research and objective analysis on the Indian steel industry potentials and raw material market trends. It gives authentic statistics and information on steel production, consumption, trade trends. Most importantly, the report also gives the industry forecast based on correlation of past drivers, challenges and opportunities for expansion. In addition, business description and business strategies of prominent industry players have also been included in the report. In this way, the report presents a complete and coherent analysis of the Indian steel industry and will prove valuable for clients.
RNCOS (rncos.com) 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.