India Steel Market Overview
Base Year: 2024
Historical Years: 2019-2024
Forecast Years: 2025-2033
Market Growth Rate: 6.2% (2025-2033)
The India steel market is a dynamic and rapidly growing sector, driven by robust infrastructure development and a burgeoning construction industry, presenting significant opportunities for both domestic and international players. According to the latest report by IMARC Group, the India steel market size reached 144.4 Million Tons in 2024. Looking forward, IMARC Group expects the market to reach 256.7 Million Tons by 2033, exhibiting a growth rate (CAGR) of 6.2% during 2025-2033.
India Steel Industry Trends and Drivers:
A combination of factors, such as rapid urbanization, industrialization, as well as increasing infrastructure development, are the factors responsible for the growth of the India steel market. Additionally, the focus by government authorities on large-scale projects such as smart cities, highways, and affordable housing under initiatives like “Make in India” and “Atmanirbhar Bharat” is significantly boosting the demand for steel. The construction sector remains a key consumer, utilizing steel for residential, commercial, and industrial projects due to its strength, durability, and versatility. Moreover, the automotive and manufacturing industries are major contributors to the market, relying on high-quality steel for vehicle production, machinery, and tools. Rising investments in renewable energy projects, such as wind turbines and solar panel structures, further amplify steel demand, making it a cornerstone for India’s economic growth.
A prominent trend in the India steel market is the shift towards sustainability and innovation. Steel manufacturers are adopting energy-efficient technologies and sustainable practices to reduce carbon emissions and comply with environmental regulations. The development of high-strength, lightweight steel is gaining traction in the automotive and aerospace sectors, offering enhanced performance and fuel efficiency. Furthermore, advancements in recycling technologies are improving the circular economy within the steel industry, reducing waste, and conserving resources. The rise of e-commerce and organized retail is also driving demand for steel in storage and logistics infrastructure. India is emerging as a global player in steel manufacturing with increasing domestic production capacities and government policies favoring self-reliance. As industries continue to expand and modernize, the India steel market is anticipated to see sustained growth in the coming years.
Grab a sample PDF of this report: https://www.imarcgroup.com/india-steel-market/requestsample
India Steel Industry Segmentation:
The report has segmented the market into the following categories:
Breakup by Type:
- Flat Steel
- Long Steel
Breakup by Product:
- Structural Steel
- Prestressing Steel
- Bright Steel
- Welding Wire and Rod
- Iron Steel Wire
- Ropes
- Braids
Breakup by Application:
- Building and Construction
- Electrical Appliances
- Metal Products
- Automotive
- Transportation
- Mechanical Equipment
- Domestic Appliances
Regional Insights:
- South India
- North India
- West and Central India
- East India
Competitive Landscape:
The competitive landscape of the industry has also been examined along with the profiles of the key players.
Key highlights of the Report:
- Market Performance (2019-2024)
- Market Outlook (2025-2033)
- COVID-19 Impact on the Market
- Porter’s Five Forces Analysis
- Strategic Recommendations
- Historical, Current and Future Market Trends
- Market Drivers and Success Factors
- SWOT Analysis
- Structure of the Market
- Value Chain Analysis
- Comprehensive Mapping of the Competitive Landscape
Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.
About Us:
IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.
Contact Us:
IMARC Group
134 N 4th St. Brooklyn, NY 11249, USA
Email: sales@imarcgroup.com
Tel No:(D) +91 120 433 0800
United States: +1-631-791-1145