Prognostic Solutions in Steel Plant and Tube Mill Industry

The global steel market reached a value of US$ 874.6 Billion in 2021. Looking forward, IMARC Group expects the market to reach a value of US$ 1,052.25 Billion by 2027, exhibiting a growth rate (CAGR) of 3.02% during 2022-2027. Significant growth in the automotive industry across the globe and Increasing oil & gas production owing to the transportation industry’s demand is creating a positive outlook for the market. But with growth comes a lot of challenges in the steel manufacturing process. Companies in the industry face major challenges with rapid digitalisation and unlocking potential in data, shifts in consumer demands, and the attraction of top talents.
To address these challenges and improve profitability, the largest integrated producer of engineering steels and specialized seamless tubes in the Asia Pacific region has the foresight to expand its market in the coming years. In recent years, the leadership team has placed a greater emphasis on better asset utilization and process optimization.