Steel Demand Poised to Grow in the Indian Power Sector

Indian steel industry has made a rapid progress on strong fundamentals during the past few years. As the country’s industrial sector has grown at rapid pace over the last few years, the demand for electricity in India is enormous and has been growing at a rapid pace. Today, most of the industries and manufacturing units run with automation system; thus, India needs more energy backups. Hence, the Indian government has planned to invest a huge amount of money in the power industry. According to our research report, steel demand in power projects will register around 9.3% CAGR growth during 2009-2013, which will trigger steel production and imports in the country during the same period.

 

As India is a developing country, most of industries still need to cover a long distance to attain maturity level. Thus, steel consumption rate in domestic market is poised to grow. But, recent slowdown in industrial growth and tight credit market has retarded its growth. Our study says that, the global economic slowdown hampered the growth curve of various steel intensive industries, such as construction in 2009 and its impact also fell on steel demand.

 

However, the government proactive incentive plans to boost economic growth by injecting funds in various industries like, construction, infrastructure automobile, and power will help the steel industry to again achieve its previous growth trajectory. The report gives an insight into the future outlook of various vertical industry segments, including automotive, aerospace, marine, consumer durables, power, railways, telecom, and housing.

 

“Indian Steel Industry Outlook to 2012” also reveals that, steel consumption in India is expected to grow significantly in coming years as per capita finished steel consumption is far less from its regional counterparts. The report classifies the finished steel product market into two categories - alloy and non-alloy. It also covers the information on industry-wise steel demand, overall steel consumption, production and trading market. Our report also provides information on major Indian steel producers.

For more information visit: http://www.rncos.com/Report/IM182.htm