| India Steel Market Overview According to IMARC Group’s report titled "India Steel Market Size, Share, Trends and Forecast by Type, Product, Application, and Region, 2025-2033" the report offers a comprehensive analysis of the industry, including India steel market share, growth, trends, and regional insights. The India steel market size was valued at 144.43 Million Tons in 2024. It is projected to grow at a CAGR of 6.20% during the forecast period from 2025 to 2033, reaching a market size of 256.73 Million Tons by 2033. This growth is driven by rising infrastructure investment, increased automotive production, and growing construction activities. India Steel Market Key Takeaways - Current Market Size: 144.43 Million Tons in 2024
- CAGR: 6.20% (2025-2033)
- Forecast Period: 2025-2033
- The market expansion is fueled by government investments in roads, bridges, airports, and urban infrastructure.
- Increased demand from the construction sector, including residential and commercial buildings, drives steel consumption.
- Growth in the automotive sector, with rising production of passenger and commercial vehicles, boosts steel demand.
- Adoption of high-strength steels for fuel efficiency and safety in vehicles is positively influencing the market.
- Technological advances incorporating AI, IoT, and automation improve steel quality and production efficiency.
Note : We are in the process of updating our reports to cover the 2026–2034 forecast period. For the most recent data, insights, and industry updates, please click on ‘Request Free Sample Report. Download a Sample PDF of the Report: https://www.imarcgroup.com/india-steel-market/requestsample Leading Companies Shaping the India Steel Market - SAIL
- JSW
- Tata Steel
- AM/NS INDIA
- Jindal Steel & Power Limited
- NMDC Steel Limited
- Rashtriya Ispat Nigam Limited
- Vedanta Limited
- Visa Steel
- Hira Power & Steels Ltd.
India Steel Market Trends - Infrastructure development is a key market driver with government emphasis on large-scale projects.
- Projects like Bharatmala Pariyojana and the Smart Cities Mission significantly increase steel demand.
- The aim to reach 200,000 km of National Highways by 2025 with private sector involvement propels market expansion.
- Demand increases as bridges, highways, airports, and ports are constructed.
- Rise in construction of high-rise buildings, shopping malls, and residential complexes stimulates steel consumption.
- Government affordable housing initiatives under Pradhan Mantri Awas Yojana boost demand.
- The automotive industry uses substantial steel quantities for vehicle structures, engine parts, and transmissions.
- Increased production of electric vehicles demands high-quality steel, supported by government incentives.
- Adoption of advanced high-strength steels enhances vehicle efficiency and safety, benefiting the market outlook.
India Steel Market Growth Factors - Heightened investments in infrastructure such as roads, bridges, airports, and urban infrastructure.
- Growing construction activities across residential, commercial, and industrial sectors.
- Increased production in the automotive sector driven by demand for efficient vehicles.
- Supportive government policies including initiatives like Pradhan Mantri Awas Yojana for affordable housing.
- Rising demand for electric vehicles increasing consumption of special steels for batteries and components.
- Integration of automation, artificial intelligence (AI), and Internet of Things (IoT) in steel manufacturing.
- Growing urbanization and industrialization raising steel consumption.
- Expansion of industrial and freight corridors supporting economic growth.
- Government focus on industrial growth and urban infrastructure leading to market widening.
To Gain More Insights into the Market Analysis, Get Custom Report Based on Your Interest: https://www.imarcgroup.com/request?type=report&id=9492&flag=E India Steel Market Segmentation By Type: - Flat Steel: Includes sheets, plates, and strips widely used in manufacturing, automotive, and construction, known for versatility, tensile strength, and corrosion resistance.
- Long Steel: Comprises steel products used in structural applications differing from flat steel.
By Product: - Structural Steel: The dominant product segment valued for strength, durability, and load-bearing capacity. Used in beams, columns, and trusses for buildings and bridges.
- Prestressing Steel
- Bright Steel
- Welding Wire and Rod
- Iron Steel Wire
- Ropes and Braids
By Application: - Building and Construction: Largest share; primary structural framework for residential, commercial, and industrial buildings.
- Electrical Appliances
- Metal Products
- Automotive
- Transportation
- Mechanical Equipment
- Domestic Appliances
Regional Insights - South India: High growth due to industrialization, urbanization, and infrastructure development; prominent in IT, automobile manufacturing, and real estate sectors.
- North India: Leading region with large-scale construction and infrastructure projects; strong supplier proximity to raw materials.
- West and Central India: Significant market share with industrial centers like Maharashtra and Gujarat.
- East India: Important for rich iron ore and coal deposits, driving mining and infrastructure investments.
The steel market in North India demonstrates dominance driven by rapid urban and industrial growth, supported by a supply chain proximate to raw materials, with an overall market CAGR of 6.20%. Recent Developments & News - September 2024: ArcelorMittal Nippon Steel India (AM/NS India) launched the Magnelis brand of alloy coated steel targeting solar projects to substitute imports.
- October 2024: Gensol Engineering partnered with Matrix Gas & Renewables Consortium to support India’s first green hydrogen-powered steel production facility.
- January 2025: India's steel ministry announced the second edition of its productivity-linked incentive (PLI) scheme with applications accepted from January 6 to 31.
- December 2024: Tata Steel introduced an all-female workforce at the Noamundi Iron Mine in Jharkhand.
- March 2024: JSW Steel launched JSW Magsure, reducing imports by manufacturing indigenous Zinc-Magnesium-Aluminium alloy coated steel products.
Key Highlights of the Report - Comprehensive quantitative analysis of market segments, trends, and forecasts from 2019 to 2033.
- Detailed insights into market drivers, challenges, and opportunities.
- Porter’s Five Forces analysis to assess competitive forces in the market.
- Competitive landscape profiling key players and their strategies.
- Regional market analysis covering South India, North India, West and Central India, and East India.
- Scope for customization and post-sale analyst support.
Need Clarity? Talk to Our Analyst: https://www.imarcgroup.com/request?type=report&id=9492&flag=C Customization Note: If you require any specific information not covered within this report’s scope, we will provide it as part of the customization. About Us IMARC Group is a global management consulting firm that helps ambitious changemakers create a lasting impact. The company offers comprehensive market assessment, feasibility studies, incorporation support, regulatory assistance, branding and strategy services, and procurement research. Contact Us IMARC Group 134 N 4th St. Brooklyn, NY 11249, USA Email: sales@imarcgroup.com Tel: (D) +91 120 433 0800 United States: +1-201971-6302 |
