India Structural Steel Market Size & Outlook, 2022-2030
India structural steel market, 2018-2030 (US$M)
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India structural steel market highlights
- The India structural steel market generated a revenue of USD 7,059.0 million in 2022 and is expected to reach USD 10,768.2 million by 2030.
- The India market is expected to grow at a CAGR of 5.4% from 2023 to 2030.
- In terms of segment, non-residential was the largest revenue generating application in 2022.
- Non-residential is the most lucrative application segment registering the fastest growth during the forecast period.
Structural steel market data book summary
| Market revenue in 2022 | USD 7,059.0 million |
| Market revenue in 2030 | USD 10,768.2 million |
| Growth rate | 5.4% (CAGR from 2022 to 2030) |
| Largest segment | Non-residential |
| Fastest growing segment | Non-residential |
| Historical data | 2018 - 2021 |
| Base year | 2022 |
| Forecast period | 2023 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Residential, Non-residential |
| Key market players worldwide | ArcelorMittal SA Depository Receipt, Gerdau SA ADR, Nippon Steel Corp, Tata Steel Ltd GDR - 144A, Steel Authority Of India Ltd DR |
Other key industry trends
- In terms of revenue, India accounted for 5.7% of the global structural steel market in 2022.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Asia Pacific, China structural steel market is projected to lead the regional market in terms of revenue in 2030.
- Taiwan is the fastest growing regional market in Asia Pacific and is projected to reach USD 2,140.6 million by 2030.
Non-residential was the largest segment with a revenue share of 51.24% in 2022. Horizon Databook has segmented the India structural steel market based on residential, non-residential covering the revenue growth of each sub-segment from 2018 to 2030.
The Indian economy has witnessed significant momentum owing to the enactment of policies such as Goods and Services Tax. Although the economy has slowed down in 2019, the economic activity is predicted to pick up and drive construction activities in the region.
In addition, the country has created a suitable platform for maximum investments from foreign investors. However, the COVID-19 situation in the country has slowed down the economy and has impacted the other industries in the country.
Increasing per capita income along with rapid urbanization is expected to boost residential construction in the country over the forecast period. As per the reports of the Ministry of Statistics and Program Implementation.
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Structural Steel Market Scope
Structural Steel Market Companies
| Name | Profile | # Employees | HQ | Website |
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India structural steel market size, by application, 2018-2030 (US$M)
India Structural Steel Market Outlook Share, 2022 & 2030 (US$M)
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