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Global Iron & Steel Market Size Study, by Type (Iron, Steel), by Production Technology (Basic Oxygen Furnace, Electric Arc Furnace, Open Hearth, Others), by End Use Industry (Construction & Building, Automotive & Transportation, Heavy Industry, Consumer G

Publisher Factview Research
Published Jun 27, 2025
Length 285 Pages
SKU # FAVR20179421

Description

The Global Iron & Steel Market, valued at approximately USD 1617.9 billion in 2024, is poised to experience significant growth with a projected CAGR of 4.20% over the forecast period 2024-2034. This market, central to industrial and construction ecosystems worldwide, is driven by its versatile applications, ranging from infrastructure development and automotive manufacturing to consumer goods production. The market's dynamism is fueled by advancements in production technologies and a growing focus on sustainability, as industries strive to balance efficiency with environmental responsibility.

The evolution of production technologies such as Basic Oxygen Furnaces (BOF) and Electric Arc Furnaces (EAF) is transforming iron and steel manufacturing. These technologies not only optimize production efficiency but also minimize waste and emissions, meeting the rising demand for eco-friendly processes. Moreover, the industry's expansion is supported by robust investments in construction and infrastructure projects globally. For example, urbanization initiatives in developing economies are driving the demand for steel in building frameworks, reinforcing the market’s growth trajectory.

However, challenges remain, including fluctuating raw material costs and stringent environmental regulations. Iron ore and coking coal price volatility often disrupt supply chains and impact profitability. Despite these hurdles, the market is witnessing innovations such as the integration of hydrogen-based steel production and the recycling of scrap materials. These trends are creating new opportunities for market players while addressing sustainability concerns.

Regionally, Asia Pacific dominates the global iron and steel market, with China and India emerging as pivotal contributors due to their massive infrastructure projects and burgeoning automotive sectors. North America follows closely, leveraging advanced manufacturing technologies and sustainable practices. Meanwhile, Europe emphasizes innovation and green steel production, aligning with its rigorous environmental policies. Latin America and the Middle East & Africa are also showcasing potential, with increasing investments in industrialization and infrastructure development.

Major market players included in this report are:
  • ArcelorMittal
  • Nippon Steel Corporation
  • China Baowu Steel Group
  • POSCO
  • Tata Steel Limited
  • United States Steel Corporation
  • Nucor Corporation
  • Hyundai Steel
  • JFE Steel Corporation
  • Voestalpine AG
  • Severstal
  • Evraz Group
  • Gerdau S.A.
  • thyssenkrupp AG
  • SSAB AB
The detailed segments and sub-segment of the market are explained below:

By Type:
  • Iron
  • Steel
By Production Technology:
  • Basic Oxygen Furnace
  • Electric Arc Furnace
  • Open Hearth
  • Others
By End Use Industry:
  • Construction & Building
  • Automotive & Transportation
  • Heavy Industry
  • Consumer Goods
By Region:

North America
  • U.S.
  • Canada
Europe
  • UK
  • Germany
  • France
  • Spain
  • Italy
  • Rest of Europe
Asia Pacific
  • China
  • India
  • Japan
  • Australia
  • South Korea
  • Rest of Asia Pacific
Latin America
  • Brazil
  • Mexico
Middle East & Africa
  • Saudi Arabia
  • South Africa
  • Rest of Middle East & Africa
Years considered for the study are as follows:
  • Historical Year – 2022
  • Base Year – 2024
  • Forecast Period – 2024 to 2034
Key Takeaways:
  • Comprehensive market estimates and forecasts spanning a decade from 2022 to 2032.
  • Detailed segmentation by type, production technology, and end use industry.
  • Regional insights, including trends and growth opportunities in major markets.
  • Competitive landscape analysis with strategic initiatives by leading players.
  • Focused insights on emerging trends such as sustainable and green steel production.

Table of Contents

285 Pages
Chapter 1. Global Iron & Steel Market Executive Summary
1.1. Global Iron & Steel Market Size & Forecast (2024-2034)
1.2. Regional Summary
1.3. Segmental Summary
1.3.1. By Type
1.3.2. By Production Technology
1.3.3. By End Use Industry
1.4. Key Trends
1.5. Recession Impact
1.6. Investment Analysis
1.7. Investment Rationale
1.8. Analyst Recommendation & Conclusion
Chapter 2. Global Iron & Steel Market Definition and Research Assumptions
2.1. Research Objective
2.2. Market Definition
2.3. Research Assumptions
2.3.1. Inclusion & Exclusion
2.3.2. Limitations
2.3.3. Supply Side Analysis
2.3.3.1. Availability
2.3.3.2. Infrastructure
2.3.3.3. Regulatory Environment
2.3.3.4. Market Competition
2.3.3.5. Economic Viability (Consumer’s Perspective)
2.3.4. Demand Side Analysis
2.3.4.1. Regulatory Frameworks
2.3.4.2. Technological Advancements
2.3.4.3. Environmental Considerations
2.3.4.4. Consumer Awareness & Acceptance
2.4. Estimation Methodology
2.5. Years Considered for the Study
2.6. Currency Conversion Rates
Chapter 3. Global Iron & Steel Market Dynamics
3.1. Market Drivers
3.1.1. Growth in Construction and Infrastructure Development
3.1.2. Advancements in Production Technologies
3.1.3. Increasing Demand from Automotive and Transportation Industries
3.2. Market Challenges
3.2.1. Fluctuating Raw Material Costs
3.2.2. Stringent Environmental Regulations
3.3. Market Opportunities
3.3.1. Integration of Hydrogen-Based Steel Production
3.3.2. Recycling of Scrap Materials
3.3.3. Expansion in Emerging Markets
Chapter 4. Global Iron & Steel Market Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.1.6. Futuristic Approach to Porter’s 5 Force Model
4.1.7. Porter’s 5 Force Impact Analysis
4.2. PESTEL Analysis
4.2.1. Political
4.2.2. Economical
4.2.3. Social
4.2.4. Technological
4.2.5. Environmental
4.2.6. Legal
4.3. Top Investment Opportunities
4.4. Top Winning Strategies
4.5. Disruptive Trends
4.6. Industry Expert Perspective
4.7. Analyst Recommendation & Conclusion
Chapter 5. Global Iron & Steel Market Size & Forecasts by Type 2024-2034
5.1. Segment Dashboard
5.2. Global Iron & Steel Market: Type Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
5.2.1. Iron
5.2.2. Steel
Chapter 6. Global Iron & Steel Market Size & Forecasts by Production Technology 2024-2034
6.1. Segment Dashboard
6.2. Global Iron & Steel Market: Production Technology Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
6.2.1. Basic Oxygen Furnace
6.2.2. Electric Arc Furnace
6.2.3. Open Hearth
6.2.4. Others
Chapter 7. Global Iron & Steel Market Size & Forecasts by End Use Industry 2024-2034
7.1. Segment Dashboard
7.2. Global Iron & Steel Market: End Use Industry Revenue Trend Analysis, 2022 & 2032 (USD Million/Billion)
7.2.1. Construction & Building
7.2.2. Automotive & Transportation
7.2.3. Heavy Industry
7.2.4. Consumer Goods
Chapter 8. Global Iron & Steel Market Size & Forecasts by Region 2024-2034
8.1. North America Iron & Steel Market
8.1.1. U.S. Iron & Steel Market
8.1.1.1. Type Breakdown Size & Forecasts, 2024-2034
8.1.1.2. Production Technology Breakdown Size & Forecasts, 2024-2034
8.1.1.3. End Use Industry Breakdown Size & Forecasts, 2024-2034
8.1.2. Canada Iron & Steel Market
8.1.2.1. Type Breakdown Size & Forecasts, 2024-2034
8.1.2.2. Production Technology Breakdown Size & Forecasts, 2024-2034
8.1.2.3. End Use Industry Breakdown Size & Forecasts, 2024-2034
8.2. Europe Iron & Steel Market
8.2.1. U.K. Iron & Steel Market
8.2.2. Germany Iron & Steel Market
8.2.3. France Iron & Steel Market
8.2.4. Spain Iron & Steel Market
8.2.5. Italy Iron & Steel Market
8.2.6. Rest of Europe Iron & Steel Market
8.3. Asia-Pacific Iron & Steel Market
8.3.1. China Iron & Steel Market
8.3.2. India Iron & Steel Market
8.3.3. Japan Iron & Steel Market
8.3.4. Australia Iron & Steel Market
8.3.5. South Korea Iron & Steel Market
8.3.6. Rest of Asia Pacific Iron & Steel Market
8.4. Latin America Iron & Steel Market
8.4.1. Brazil Iron & Steel Market
8.4.2. Mexico Iron & Steel Market
8.4.3. Rest of Latin America Iron & Steel Market
8.5. Middle East & Africa Iron & Steel Market
8.5.1. Saudi Arabia Iron & Steel Market
8.5.2. South Africa Iron & Steel Market
8.5.3. Rest of Middle East & Africa Iron & Steel Market
Chapter 9. Competitive Intelligence
9.1. Key Company SWOT Analysis
9.1.1. ArcelorMittal
9.1.2. Nippon Steel Corporation
9.1.3. China Baowu Steel Group
9.2. Top Market Strategies
9.3. Company Profiles
9.3.1. ArcelorMittal
9.3.1.1. Key Information
9.3.1.2. Overview
9.3.1.3. Financial (Subject to Data Availability)
9.3.1.4. Product Summary
9.3.1.5. Market Strategies
9.3.2. POSCO
9.3.3. Tata Steel Limited
9.3.4. United States Steel Corporation
9.3.5. Nucor Corporation
9.3.6. Hyundai Steel
9.3.7. JFE Steel Corporation
9.3.8. Voestalpine AG
9.3.9. Severstal
9.3.10. Evraz Group
9.3.11. Gerdau S.A.
9.3.12. thyssenkrupp AG
9.3.13. SSAB AB
9.4. Disruptive Trends
9.5. Industry Expert Perspective
9.6. Analyst Recommendation & Conclusion
Chapter 10. Research Process
10.1. Research Process
10.1.1. Data Mining
10.1.2. Analysis
10.1.3. Market Estimation
10.1.4. Validation
10.1.5. Publishing
10.2. Research Attributes

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