LONDON--(BUSINESS WIRE)--The global iron ore market is expected to post a CAGR almost 4% during the period 2018-2022, according to the latest market research report by Technavio. Request a free sample report
The increasing number of international customers and major iron ore producers exporting their products to international customers are driving the need for integrated rail, road, and seaway logistic system. The prominence of shipping industry in export and import of iron ore products is further increasing with the growing globalized economy. Thus, the rise in seaborne iron ore trade will boost the growth of the iron ore market during the forecast period.
To learn more about the global trends impacting the future of market research, download free sample: https://www.technavio.com/talk-to-us?report=IRTNTR21247
As per Technavio, the rise in production capacities and new plants in developing markets will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2018-2022.
Global Iron Ore Market: Rise in Production Capacities and New Plants in Developing Markets
Producers of iron ore in emerging markets are increasingly planning on starting new mining plants or expanding their production capacities. For instance, SAIL has planned on expanding its iron ore mine capacity at Chiria, Gua, Mehgahatuburu, and Kiriburu in Jharkhand. Similarly, Mobarakeh Steel Company has installed new iron ore pelletizing plant in Sangan, northeastern Iran. Thus, with the expansion of iron ore plants, the market for iron ore is expected to showcase a positive outlook during the forecast period.
“Cost-cutting drive by iron ore producers and high production volumes from Australia, Brazil, and China are some other major factors that will boost market growth during the forecast period,” says a senior analyst at Technavio.
Register for a free trial today and gain instant access to 17,000+ market research reports.
Global Iron Ore Market: Segmentation Analysis
This market research report segments the global iron ore market by product (fines, HBI/DRI, pellets, and lumps) and geography (Americas, APAC (excluding China), China, and EMEA).
China led the market in 2017, followed by APAC, EMEA, the Americas respectively. During the forecast period, China is expected to maintain its dominance over the global market. This is due to the increasing demand for high-grade iron-ore from end-user industries in China.
Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.