Continuous Annealing Lines Market

Continuous Annealing Lines Market Analysis by Capacity (100 TTPA to 250 TTPA, 250 TTPA to 500 TTPA, 500TTPA and above) & by Region – Global Market Insights 2023 to 2033

Analysis of Continuous Annealing Lines Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more

Continuous Annealing Lines Market Outlook (2023 to 2033)

A newly released continuous annealing lines market analysis report by Fact. MR reveals that global sales of continuous annealing lines in 2022 were held at US$ 14.9 Billion. With a 2.5% projected CAGR from 2023 to 2033, the market is expected to reach a valuation of US$ 19.5 Billion by the end of the forecast period.

Capacity ranging from 250 TTPA to 500 TTPA is expected to be the highest revenue-generating segment, projected to grow at a CAGR of over 1.8% from 2023 to 2033.

Report Attributes Details

Global Continuous Annealing Lines Market Size (2023)

US$ 15.3 Billion

Global Continuous Annealing Lines Market Size (2033)

US$ 19.5 Billion

Global Continuous Annealing Lines Market CAGR (2023-2033)

2.%

U.S Continuous Annealing Lines Market CAGR (2023 – 2033)

2.2%

Key Companies Covered

  • Nippon Steel & Sumikin Engineering Co., Ltd.
  • SMS Group
  • Andritz
  • ABB
  • Primetals Technology
  • Ebner
  • John Cockerill
  • JP Steel Plantech Co.
  • Fives
  • Ametek
  • Clecim France
  • Rudolph Libbe Group
  • Danieli Group
  • Tenova

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Revenue of Continuous Annealing Lines Market from 2018 to 2022 Compared to Demand Outlook for 2023 to 2033

As per the continuous annealing lines market research by Fact. MR - a market research and competitive intelligence provider, historically, from 2018 to 2022, the market value increased by 1.2% CAGR. With an absolute dollar opportunity of US$ 4.5 Billion, the market is projected to reach a US$ 19.5 Billion valuation by 2033.

What main factors are influencing the continuous annealing lines market expansion?

The growing steel industry and the increasing global demand for advanced high-strength steel have been driving the continuous annealing lines market. According to World Steel Association, the global steel industry is expected to grow by 2.3% in 2023 compared to 2022. The steel industry plays a vital role in modern infrastructure and manufacturing, providing the backbone for construction, automotive, and various industrial applications.

As industries seek to enhance the performance and durability of their products, the demand for advanced high-strength steel (AHSS) has surged globally. In 2021, the AHSS market value reached US$ 17.7 Bn and is expected to grow at a CAGR of 7.8% from 2022 to 2023. To meet this increasing demand efficiently and maintain the quality of AHSS, continuous annealing lines have emerged as an essential solution. The growing awareness of sustainability, energy efficiency, and lightweight design in the automotive and manufacturing sectors has triggered a surge in the demand for AHSS.

As the automotive industry continues to grow and evolve, there is a rising need for high-quality, lightweight, and high-strength steel used in the production of modern light vehicles. According to Global EV Outlook 2023 released by the International Energy Agency (IEA), global EV sales exceeded 10 million in 2022 and are expected to grow over the coming years as sales reached 2.3 million in the first quarter of 2033, a 25% increase compared to the same period in 2022.

This growing demand for EVs has created a heavy demand for lightweight steel, which has further encouraged the steel industries to set up continuous annealing lines to meet this rapidly increasing demand. For instance, Jamshedpur Continuous Annealing Line and Processing Company Private Limited, a joint venture of Tata Steel and Nippon Steel & Sumikin Engineering Co., Ltd. was set up specially to manufacture high-strength steel sheets to meet requirements for high fuel efficiency through car weight reduction and higher collision safety.

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Which Region is projected to bring significant revenues to the Continuous Annealing Lines Market?

East Asia had a market size of US$ 4.9 Billion in 2022 and is estimated to be worth US$ 5 Billion in 2023. It is projected that East Asia will have a market worth US$ 5.8 Billion by 2033.

The market in East Asia has been witnessing robust growth, driven by the region's thriving steel industry and the increasing demand for high-quality steel products. According to World Steel Association, crude steel production in East Asia accounted for 61.3% of the world's total output in 2020 due to the presence of prominent steel-producing nations like China and Japan.

This demand has had a direct impact on the market, with manufacturers in East Asia adopting these advanced technologies to meet the evolving steel production requirements. With continuous investments in research, development, and technological advancements, the East Asia steel industry is expected to sustain its growth trajectory, propelling the market forward and contributing to the region's economic and industrial development.

Country-wise Analysis

United States Continuous Annealing Lines Market Analysis:

The market in the United States is expected to grow to be worth US$ 3.5 Billion in 2023 with an absolute dollar growth of US$ 907.7 Million from 2023 to 2033. The market in the United States has grown at a CAGR of 1.0% from 2018 to 2022 and is expected to grow at a CAGR of 2.2% from 2023 to 2033.

The US government's commitment to infrastructure development has boosted the steel market. Significant investments in infrastructure projects, such as roads, bridges, and public utilities, drive the demand for steel products used in construction. In 2022, the construction sector of the U.S. was valued at US$ 1.8 trillion. With the growing construction sector, the demand for high-strength steel is also increasing which is encouraging steel manufacturers to set up new annealing plants to cater to the increasing demand.

China Continuous Annealing Lines Analysis:

The market in China is expected to grow to be worth US$ 2.6 Billion in 2023 with an absolute dollar growth of US$ 177.6 Million from 2023 to 2033. The market in China has shown a negative growth of 0.1% due to the after-pandemic effect from 2018 to 2022 and is expected to grow at a CAGR of 0.6% from 2023 to 2033.

According to the World Steel Association, China accounted for nearly 56.1% of global steel production in 2020, outpacing the combined output of the next nine largest steel-producing countries. China's manufacturing industry accounts for a significant proportion of its GDP, with a growth rate of approximately 5.8% in 2021 compared to the previous year. China's soaring steel production directly correlates with the increased adoption of continuous annealing lines. As the demand for high-quality steel products grows, manufacturers seek efficient, cost-effective ways to process steel coils. Continuous annealing lines offer the advantage of producing annealed steel coils in a continuous, automated manner, thus ensuring a steady supply to meet market demands.

Japan Continuous Annealing Lines Market Analysis:

The Japanese market is expected to grow to be worth US$ 1.4 Billion in 2023 with an absolute dollar growth of US$ 279.9 Million from 2023 to 2033. The market has grown at a CAGR of 0.3% from 2018 to 2022 and is expected to grow at a CAGR of 1.7% from 2023 to 2033.

The Japanese electronics market reached US$ 11 trillion in 2022 and is expected to see steady growth in the coming years. The rapid development of Japan's electronics market, with its ever-expanding array of devices and components, necessitates a consistent supply of high-grade steel. Continuous annealing lines allow steel manufacturers to produce top-quality steel coils that meet the stringent requirements of the electronics industry, ensuring the production of reliable and durable electronic devices.

India Continuous Annealing Lines Analysis:

India’s market is expected to grow to be worth US$ 1.4 Billion in 2023 with an absolute dollar growth of US$ 398.5 Million from 2023 to 2033. The market has grown at a CAGR of 1.4% from 2018 to 2022 and is expected to grow at a CAGR of 2.3% from 2023 to 2033.

The Indian automotive industry reached US$ 222 Bn in 2023 establishing it as the fourth largest automotive market globally. India aims to become the leader in shared mobility by 2030. India's automotive industry is not only catering to the domestic market but also establishing itself as a significant player in the global automotive trade. As Indian automakers seek to expand their presence in international markets, the need for high-quality steel processed through continuous annealing lines becomes imperative, thus India stands as a potential market for continuous annealing lines.

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Category-wise Insights

What capacity of the Continuous Annealing Lines is projected to Witness Significant Growth?

The Continuous Annealing Lines of capacity 250 TTPA to 500 TTPA is projected to witness significant growth with a CAGR of 0.8% from 2018 to 2022 and is expected to grow at a CAGR of 1.8% from 2023 to 2033.

Among the top 300 steel manufacturing companies in 2022 based on production capacity, 120 companies belong to the second quartile range. Using the data, it is estimated that the continuous annealing lines with capacity ranging from 250 TTPA to 500 TTPA have the maximum demand as the steel production capacity of the plant and the capacity of continuous annealing lines are positively correlated.

Competitive Analysis

Key players in the Market are Nippon Steel & Sumikin Engineering Co., Ltd., SMS Group, Andritz, ABB, Primetals Technology, Ebner, John Cockerill, JP Steel Plantech Co., Fives, Ametek, Clecim France, Rudolph Libbe Group, Danieli Group, and Tenova.

  • In April 2023, Fives delivered thermal sections for a new annealing and pickling line to Baowu steel group in China. The line is designed to produce high-quality non-grain-oriented grades for electric vehicle motors.
  • In May 2023, ABB announced that it has completed the acquisition of Siemens' low-voltage NEMA motor business. This acquisition is part of ABB's profitable growth strategy in the Motion business area and strengthens its position as a leading industrial NEMA motor manufacturer.
  • In March 2023, ABB and Microsoft announced a collaboration to integrate generative AI capabilities into industrial digital solutions for smart, safe, and sustainable operations. The integration of generative AI technology is expected to enable ABB's customers to optimize their operations, reduce downtime, and increase efficiency.
  • In February 2022, Andritz signed an agreement with Jindal Stainless, India to supply new direct rolling, annealing, and pickling line having a capacity of 7 Million metric tons. This agreement is an opportunity for Andritz to create its footprint in India.
  • In December 2022, John Cockerill acquired the cooling activities of the Hamon Group in Korea, aligning with their ambitions and industrial project. This acquisition expands John Cockerill's investment strategy in cooling activities and adds to its previous acquisitions of cooling activities in Belgium, France, Spain, and Indonesia.
  • In July 2019, JP Steel Plantech Co. and CMI Industry Metals, a division of Cockerill Maintenance & Ingenierie SA (CMI), entered into a cooperation agreement. The agreement aimed to offer highly complementary products for the steel market.

Segmentation of the Global Market

  • By Capacity:

    • 100 TTPA to 250 TTPA
    • 250 TTPA to 500 TTPA
    • 500 TTPA and above
  • By Region:

    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & Pacific
    • Middle East and Africa

- FAQs -

What value did the market reach in 2022?

The market was valued at US$ 14.9 Billion in 2022.

What value is the estimated to reach in 2023?

The market is estimated to be valued at US$ 15.3 Billion in 2023.

What valuation is the market estimated to reach by 2033?

The market is expected to reach a valuation of US$ 19.6 Billion by 2033.

What is the global absolute market growth from 2023 to 2033?

The global absolute market growth from 2023 to 2033 is US$ 4.5 Billion.

What value CAGR did the market exhibit over the last 4 years?

The market registered a CAGR of 1.2% over the last 4 years.

What is the projected CAGR for the market from 2023 to 2033?

The market is projected to witness a CAGR of 2.5% from 2023 to 2033.

What capacity of Continuous Annealing Lines will garner a significant value share by 2023?

Capacity ranging from 250 TTPA to 500 TTPA is expected to garner a significant value share by 2023.

What is the expected market size of the United States Market until 2033?

The market in the United States is projected to witness a market size of US$ 4.4 Billion and is expected to grow at a 2.2% CAGR from 2023 to 2033.

Which are the key companies in the market?

Nippon Steel & Sumikin Engineering Co., Ltd., SMS Group, Andritz, ABB, Primetals Technology, Ebner, John Cockerill, JP Steel Plantech Co., Fives, Ametek, Clecim France, Rudolph Libbe Group, Danieli Group, and Tenova.

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Continuous Annealing Lines Market

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