The success of the steel industry can be credited to Andrew Carnegie, an industrialist who led the expansion of the business through his relentless efforts. Carnegie’s dedication to transforming the steel industry into one of the most profitable businesses turned him into one of the most influential figures of the era. However, Carnegie was more than just a successful businessman, he was also an innovator, who successfully adopted the Bessemer process at his various steel plants. Before the development of the open hearth furnace, the Bessemer process was the first inexpensive industrial technique used in the mass production of steel from molten pig iron. By including the most up to date equipment in his factories like the Bessemer Process, Carnegie was able to efficiently produce large amounts of steel at a low price. After buying out a number of plants, Carnegie’s company eventually became the world’s largest supplier of steel, outpacing the United Kingdom, who previously held the title. …show more content…
In the early 18th century, the cheapest way to produce goods that could eventually be used in the construction of railroads, bridges, and skyscrapers, was iron. In order to extract iron, companies used charcoal as a reducing agent. This worked well for a long period of time until the supply of charcoal ran short, turning iron into an expensive commodity. Around this time is when Carnegie entered the picture and began to work relentlessly to drive down the cost of steel, so it could take the place of iron. By the 1900’s Carnegie ran the entirety of the steel industry, which allowed him to sell steel for a lower price. The high production of quality steel, allowed many construction projects to progress at an affordable