India Steel Market Size, Growth, Insights and Outlook 2025-2033

As indicated in the latest market research report published by IMARC Group, titled "India Steel Market Size, Share, Trends and Forecast by Type, Product, Application, and Region, 2025-2033," the report presents a thorough review featuring the steel market share in India, growth, trends, and research of the industry.

Market Size & Future Growth Potential:

The India steel market size reached 144.43 Million Tons in 2024. The market is projected to reach 256.73 Million Tons by 2033, exhibiting a growth rate (CAGR) of 6.20% during 2025-2033.

Latest Market Trends:

The steel market size in India is gradually changing due to infrastructure and green steel projects like hydrogen-based reduction and the use of recycled scrap supply in steel manufacturing under the National Steel Policy to meet carbon emission reduction targets. Likewise, the electric vehicle market is rapidly demanding high-strength lightweight steel alloys for auto parts manufacturing, with the help of the PLI scheme. Digitalization of steel production, including using artificial intelligence to optimize rolling mills and utilizing IoT-based quality control, is improving the efficiency and sustainability of the steel production process.

Thus, growth of exports to ASEAN countries was driven by the trade agreements; the varieties of flat steel were in demand due to the change in world supply chains. The recent expansion of ArcelorMittal Nippon Steel India's automotive lines in 2025 will add capacity for advanced grades. Government schemes, such as Bharatmala Pariyojana, are also likely to increase demand for construction-grade products, especially corrosion-resistant ones, creating a strong impetus for eco-innovation, technology, and diversification amid urbanization and industrialization pressures.

Market Scope and Growth Factors:

The India steel market is expected to widen owing to the development of infrastructure, automotive manufacturing, and government initiatives, such as 'Aatmanirbhar Bharat' (self-reliant India) in steel production. Urbanization and the Smart Cities Mission are anticipated to drive demand for structural and long steel. Flat steel has the largest volume, based on its use in automobiles and appliances. Long steel is used for structural applications and construction frames, followed by structural and prestressing products and welding wires.

Overall, South and North India are at the forefront, with industry clusters and mega projects. West and East India are becoming centers of mining and exports. New applications such as Magnelis and high-end alloys for solar PV and EVs are emerging and PLI incentives and ESG focus are attracting green FDI (foreign direct investment). Together, policy, urbanization, and the evolution of technology form a virtuous cycle of demand and the localization of the value chain.

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Competitor Landscape:

• 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.

Comprehensive Market Report Highlights & Segmentation Analysis: Type:

• Flat Steel
• Long Steel

Product:

• Structural Steel
• Prestressing Steel
• Bright Steel
• Welding Wire and Rod
• Iron Steel Wire
• Ropes
• Braids

Application:

• Building and Construction
• Electrical Appliances
• Metal Products
• Automotive
• Transportation
• Mechanical Equipment
• Domestic Appliances

Region:

• South India
• North India
• West and Central India
• East India

Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/india-steel-market 

Key Highlights of the Report:

• Historical Market Performance
• Future Market Projections
• Impact of COVID-19 on Market Dynamics
• Industry Competitive Analysis (Porter’s Five Forces)
• Market Dynamics and Growth Drivers
• SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)
• Market Ecosystem and Value Creation Framework
• Competitive Positioning and Benchmarking Strategies

Major Advantages of the Report:

• Provides accurate revenue estimates for the overall market and its key subsegments.
• Enables stakeholders to understand the competitive landscape for strategic positioning and go-to-market strategies.
• Offers comprehensive insights into market dynamics, including drivers, restraints, challenges, and opportunities.

Why Choose IMARC Group:

• Extensive Industry Expertise
• Robust Research Methodology
• Insightful Data-Driven Analysis
• Precise Forecasting Capabilities
• Established Track Record of Success
• Extensive Network Reach
• Tailored Solutions for Client Needs
• Commitment to Strong Client Relationships
• Timely Project Delivery
• Cost-Effective Service Options

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Note: Customization options are available for specific information not included in the current report.

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