NewswireToday - /newswire/ -
Noida, Uttar Pradesh, India, 2011/06/10 - Steel consumption of the Kingdom is anticipated to reach over 26 Million Metric Tons by 2015, says RNCOS.
Within the GCC region, Saudi Arabia has grown as a major steel industry player, which is highly import oriented. According to our study, per capita steel consumption of the country stood at 3rd place in the GCC region behind Qatar and the UAE in 2010. The Kingdom’s most important sector for the steel consumption is construction sector as the country is at the forefront of construction activities in the Gulf. To respond to the fast growing demand, huge capacity expansion programs are underway in the Saudi Arabia steel industry, and it is expected that, these will have an impact on steel imports in future.
According to our research report “Saudi Arabia Steel Industry Forecast to 2013”, the consumption of steel is anticipated to gain an uninterrupted momentum from the government backed massive infrastructure projects. As per the government sources, an estimated US$ 400 Billion investment will be spent on large infrastructure projects during the next five years. This will further boost the steel demand in the country and take iron and steel consumption to over 26 Million Metric Tons by 2015.
Saudi Arabia, the second largest sector in terms of iron and primary steel production capacity and the largest in terms of infrastructure spending, has led to the transformation in the GCC infrastructure scenario in recent years with plans to develop six economic cities and other major development schemes. Besides, the Kingdome has initiated massive large scale developments in its infrastructure, economical, industrial, and educational projects to revamp the facilities and services provided in the country to enhance business opportunities and reduce public debt.
“Saudi Arabia Steel Industry Forecast to 2013” analyzes the steel industry in the Gulf as well as Saudi Arabia with study of recent trends and their impact. Our report provides the growth drivers and steel industry outlook including consumption, production, and trade till 2015. The report also provides regulatory framework, steel pricing analysis, and competitive landscape to comprehend the Kingdom’s steel industry future, which will help vendors and clients while making investment decision.
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.