North America Steel Rebar Market Size Worth $ 13.99 Billion By 2030Posted by Neha Bora on September 29th, 2022 San Francisco, 29 Sep 2022: The Report North America Steel Rebar Market Size, Share & Trends Analysis Report By Application (Construction, Infrastructure, Industrial), By Region (U.S., Canada, Mexico), And Segment Forecasts, 2022 - 2030 The North America steel rebar market size is expected to reach USD 13.99 billion by 2030, according to a new report by Grand View Research, Inc., expanding at a CAGR of 4.8% over the forecast period. Rising investments in construction and infrastructure development projects are anticipated to contribute to the market growth over the forecast period. Various infrastructure development projects dedicated to boosting economic growth in North America are projected to augment the demand for steel rebar in the region over the forecast period. For instance, in May 2022, the Mexican government announced the allocation of USD 30.0 billion for infrastructure development in southeast Mexico. The investment is expected to help in the development of airports, railways, ports, and the modernization of customs offices in southeast Mexico. In addition, investments in industrial units are expected to further boost the market growth in the region over the coming years. For instance, in June 2022, the U.S. Department of Defense (DoD) signed a contract worth USD 173.0 million with Lynas Rare Earths Ltd. to develop a rare earth refinery in Texas. This refinery is expected to manufacture dysprosium and terbium.The U.S. held the largest revenue share in 2021 and rising investments for the revival of public infrastructures are expected to fuel the product demand over the forecast period. For instance, under the Infrastructure Investment & Jobs Act, USD 110.0 billion is allocated for rebuilding bridges and roads. In addition, the government is planning to invest USD 25.0 billion in airports and USD 17.00 billion in waterways & port infrastructure.The market is competitive due to the presence of numerous players. Theseplayers indulge in mergers and acquisitions to stay competitive. For instance, in January 2022, Knight’s Companies completed the acquisition of Sovereign Steel, a rebar and steel rebar fabricator. This acquisition is anticipated to help Knight Companies to provide additional product lines to its customer and also, to participate in the forthcoming infrastructure projects. Access Research Report of North America Steel Rebar Market @ https://www.grandviewresearch.com/industry-analysis/north-america-steel-rebar-market-report North America Steel Rebar Market Report Highlights
List of Key Players of North America Steel Rebar Market
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