India Carbon Steel Market Size & Outlook, 2023-2030
India carbon steel market, 2018-2030 (US$M)
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India carbon steel market highlights
- The India carbon steel market generated a revenue of USD 54,868.7 million in 2023 and is expected to reach USD 81,101.5 million by 2030.
- The India market is expected to grow at a CAGR of 5.7% from 2024 to 2030.
- In terms of segment, low carbon steel was the largest revenue generating type in 2023.
- Low Carbon Steel is the most lucrative type segment registering the fastest growth during the forecast period.
Carbon steel market data book summary
| Market revenue in 2023 | USD 54,868.7 million |
| Market revenue in 2030 | USD 81,101.5 million |
| Growth rate | 5.7% (CAGR from 2023 to 2030) |
| Largest segment | Low carbon steel |
| Fastest growing segment | Low Carbon Steel |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Low Carbon Steel, Medium Carbon Steel, High Carbon Steel |
| Key market players worldwide | Cleveland-Cliffs Inc, ArcelorMittal SA Depository Receipt, BAOSTEEL, HBIS, JFE Holdings Inc, Nippon Steel Corp, POSCO Holdings Inc ADR, United States Steel Corp |
Other key industry trends
- In terms of revenue, India accounted for 5.6% of the global carbon steel market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China carbon steel market is projected to lead the regional market in terms of revenue in 2030.
- India is the fastest growing regional market in Asia Pacific and is projected to reach USD 81,101.5 million by 2030.
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Carbon Steel Market Scope
Carbon Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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India carbon steel market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to carbon steel market will help companies and investors design strategic landscapes.
Low carbon steel was the largest segment with a revenue share of 91.67% in 2023. Horizon Databook has segmented the India carbon steel market based on low carbon steel, medium carbon steel, high carbon steel covering the revenue growth of each sub-segment from 2018 to 2030.
The government’s initiatives such as ‘Skill India’ and ‘Make in India’ are important factors boosting the growth of the market. These initiatives have prompted many automakers to set up their offices in India and procure high-quality products from carbon steel vendors in India.
However, recent trends of automotive sector in India look dull due to low sales volume, which is pushing automakers of the country to halt vehicle production. For instance, in August 2019, Mahindra Group, a prominent manufacturer of the country, announced the closure of its production plant for nearly two weeks.
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Target buyers of India carbon steel market databook
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Our clientele includes a mix of carbon steel market companies, investment firms, advisory firms & academic institutions.
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30% of our revenue is generated working with investment firms and helping them identify viable opportunity areas.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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The rest of the revenue is generated working with academic and research not-for-profit institutes. We do our bit of pro-bono by working with these institutions at subsidized rates.
Horizon Databook provides a detailed overview of country-level data and insights on the India carbon steel market , including forecasts for subscribers. This country databook contains high-level insights into India carbon steel market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
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India carbon steel market size, by type, 2018-2030 (US$M)
India Carbon Steel Market Outlook Share, 2023 & 2030 (US$M)
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