Global Steel Market Size & Outlook, 2024-2030
Release Time：
2026-01-13
Source：
https://www.grandviewresearch.com/horizon/outlook/steel-market-size/global
The global steel market size was estimated at USD 1,816,420.0 million in 2024 and is projected to reach USD 2,121,457.9 million by 2030, growing at a CAGR of 2.6% from 2025 to 2030.
Global steel market highlights
- The global steel market generated a revenue of USD 1,787,910.3 million in 2023 and is expected to reach USD 2,121,457.9 million by 2030.
- The market is expected to grow at a CAGR (2024 - 2030) of 2.5% by 2030.
- In terms of segment, building & construction accounted for a revenue of USD 891,849.9 million in 2023.
- Consumer Goods is the most lucrative end use segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2023.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Global data book summary
| Market revenue in 2023 | USD 1,787,910.3 million |
| Market revenue in 2030 | USD 2,121,457.9 million |
| Growth rate | 2.5% (CAGR from 2024 to 2030) |
| Largest segment | Building & construction |
| Fastest growing segment | Consumer Goods |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Building & Construction, Automotive & Transportation, Heavy Industry, Consumer Goods |
Other key industry trends
- In terms of revenue, the North America accounted for 7.5% of the global steel market in 2023.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, India is the fastest growing regional market and is projected to reach USD 154,745.5 million by 2030.
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