Global Steel Manufacturing Market Growth, Share, Size, Trends and Forecast (2025 - 2031)

By Product Type;

Carbon steel, Alloy steel, Stainless steel, Tool steel, Structural Steel, and Prestressing Steel.

By End-users;

Infrastructure and Construction Sector, Mechanical Machinery Sector, Metal Products Sector, Automotive Sector, and Other Sector.

By Geography;

North America, Europe, Asia Pacific, Middle East & Africa, and Latin America - Report Timeline (2021 - 2031).
Report ID: Rn133985256 Published Date: January, 2025 Updated Date: February, 2025

Introduction

Global Steel Manufacturing Market (USD Million), 2021 - 2031

In the year 2024, the Global Steel Manufacturing Market was valued at USD 1563562.70 million. The size of this market is expected to increase to USD 2057541.84 million by the year 2031, while growing at a Compounded Annual Growth Rate (CAGR) of 4.0%.

The global steel manufacturing market stands as a cornerstone of numerous industries, serving as the backbone for infrastructure development, automotive manufacturing, and various other sectors worldwide. This market encompasses a vast array of processes, from raw material extraction to the production of finished steel products, catering to diverse consumer needs and industrial requirements. Steel, renowned for its durability, versatility, and strength, remains an indispensable material in modern construction, engineering, and manufacturing applications.

Amidst evolving economic landscapes and technological advancements, the global steel manufacturing market undergoes constant transformation. Factors such as urbanization, industrialization, and infrastructure development propel demand for steel across emerging and developed economies alike. Innovations in production techniques, including advancements in recycling and sustainability initiatives, reshape the industry landscape, fostering sustainable growth and environmental stewardship. As the world navigates through economic shifts and emerging trends, the global steel manufacturing market continues to play a pivotal role in shaping the trajectory of key industries and driving progress on a global scale.

  1. Introduction
    1. Research Objectives and Assumptions
    2. Research Methodology
    3. Abbreviations
  2. Market Definition & Study Scope
  3. Executive Summary
    1. Market Snapshot, By Product Type
    2. Market Snapshot, By End-users
    3. Market Snapshot, By Region
  4. Global Steel Manufacturing Market Dynamics
    1. Drivers, Restraints and Opportunities
      1. Drivers
        1. Increased demand in construction & infrastructure
        2. Expansion of automotive industries
        3. Urbanization driving need for building materials
        4. Technological advancements enhancing productivity
      2. Restraints
        1. Challenges in recycling & sustainability
        2. High energy consumption & emissions
        3. Aging infrastructure hindering modernization
      3. Opportunities
        1. Adoption of Industry 4.0 technologies
        2. Partnerships for specialty steel development
        3. Expansion of steel recycling initiatives
        4. Digital solutions for supply chain optimization
    2. PEST Analysis
      1. Political Analysis
      2. Economic Analysis
      3. Social Analysis
      4. Technological Analysis
    3. Porter's Analysis
      1. Bargaining Power of Suppliers
      2. Bargaining Power of Buyers
      3. Threat of Substitutes
      4. Threat of New Entrants
      5. Competitive Rivalry
  5. Market Segmentation
    1. Global Steel Manufacturing Market, By Product Type, 2021 - 2031 (USD Million)
      1. Carbon steel
      2. Alloy steel
      3. Stainless steel
      4. Tool steel
      5. Structural Steel
      6. Prestressing Steel
    2. Global Steel Manufacturing Market, By End-users, 2021 - 2031 (USD Million)
      1. Infrastructure & Construction Sector
      2. Mechanical Machinery Sector
      3. Metal Products Sector
      4. Automotive Sector
      5. Other Sector
    3. Global Steel Manufacturing Market, By Geography, 2021 - 2031 (USD Million)
      1. North America
        1. United States
        2. Canada
      2. Europe
        1. Germany
        2. United Kingdom
        3. France
        4. Italy
        5. Spain
        6. Nordic
        7. Benelux
        8. Rest of Europe
      3. Asia Pacific
        1. Japan
        2. China
        3. India
        4. Australia & New Zealand
        5. South Korea
        6. ASEAN (Association of South East Asian Countries)
        7. Rest of Asia Pacific
      4. Middle East & Africa
        1. GCC
        2. Israel
        3. South Africa
        4. Rest of Middle East & Africa
      5. Latin America
        1. Brazil
        2. Mexico
        3. Argentina
        4. Rest of Latin America
  6. Competitive Landscape Analysis
    1. Company Profiles
      1. Hitachi
      2. Echo Corp
      3. Greenworks Tools
      4. Robert Bosch GmbH
      5. Stiga Limited
      6. Stihl
  7. Analyst Views
  8. Future Outlook of the Market