PRZOOM - /newswire/ -
Noida, Uttar Pradesh, India, 2011/04/25 - With ongoing recovery and expected future growth, the steel demand from automobile sector will surge at a CAGR of around 17% during 2010-2014.
According to our research report “Russian Steel Industry Analysis”, Russian automobile sector accounts for significant share in the overall steel consumption in the country. However, the sector have declined in 2009 resulting severe fall in automobile production. However, with the federal government support to revitalize the industry growth, it is expected that the automobile industry growth will be back on track during 2011 itself. Moreover, with rapid growth in the automobile sector, the share of steel consumption is expected to increase. We anticipate that the steel consumption by this sector will surge at a CAGR of around 17% during 2010-2014.
The study acknowledged that, the government has taken some rapid corrective steps to revive the overall economy and infuse steel demand in the country. In 2010 alone, the government spent RUB 44 Billion on stimulating car sales in the country. According to a recent move, regulators will further spend around RUB 17 Billion in 2011 to support the domestic auto industry.
Along with automobile sectors, various other market segments including construction and machine building have shown phenomenal market developments during the past few years and are poised for encouraging future growth.
Our analysis of the competitive landscape suggests that, the steel supply sector has expanded with the influx of regional players. In the present post recession scenario, steel manufacturers are executing their capacity expansion plans, which were put on halt during the recession period. To sustain their growth, traders are striving hard to provide quality steel on demand at competitive prices, which is ultimately benefiting the consumer.
The report “Russian Steel Industry Analysis” identifies the rising importance of the Russian steel industry potentials and its future outlook. The study assesses the present status of Russian steel industry and identifies opportunities existing in the market. The report thoroughly investigates the current market trends, evolving markets, and growth prospects of the industry. The report, through its rational forecasts, outlines the future direction of the market. The report also facilitates steel demand forecasts in various vertical industry segments including, automobile, construction, energy, etc. Besides, steel demand analysis and forecasts have been covered for various product segments including flat, long, tubes, etc.
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 a 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.