Iron and Steel Casting Market Report: Trends, Forecast and Competitive Analysis to 2030

Iron and Steel Casting Trends and Forecast

The future of the global iron and steel casting market looks promising with opportunities in the automotive & transport, machinery & equipment, pump & valve, and pipe & fitting applications. The global iron and steel casting market is expected to reach an estimated $196.8 billion by 2030 with a CAGR of 5.2% from 2024 to 2030. The major drivers for this market are rapid expansion of construction industry and rising demand for this casting from automotive and industrial sector.

A more than 150-page report is developed to help in your business decisions.

Iron and Steel Casting by Segment

The study includes a forecast for the global iron and steel casting by product type, application, and region.

Iron and Steel Casting Market by Product Type [Shipment Analysis by Value from 2018 to 2030]:

• Ductile Iron
• Steel
• Others

Iron and Steel Casting Market by Application [Shipment Analysis by Value from 2018 to 2030]:

• Automotive & Transport
• Machinery & Equipment
• Pumps & Valve
• Pipes & Fittings
• Others

Iron and Steel Casting Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Iron and Steel Casting Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies iron and steel casting companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the iron and steel casting companies profiled in this report include-

• Tata Steel
• Hyundai Steel
• Nelcast
• ArcelorMittal
• Amsted Rail
• Evraz
• Calmet
• OSCO Industries
• Hitachi Metals
• Nuco

Iron and Steel Casting Market Insights

Lucintel forecasts that ductile iron will remain the larger segment over the forecast period due to its various advantages, such as enhanced machining, casting, and compressive strength.

North America will remain the largest region over the forecast period due to the rising investment among infrastructure and construction activities in the region.

Features of the Global Iron and Steel Casting Market

Market Size Estimates: Iron and steel casting market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Iron and steel casting market size by product type, application, and region in terms of value ($B).

Regional Analysis: Iron and steel casting market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different product types, applications, and regions for the iron and steel casting market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the iron and steel casting market.

Analysis of competitive intensity of the industry based on Porter's Five Forces model.

FAQ

Q1. What is the iron and steel casting market size?

Answer: The global iron and steel casting market is expected to reach an estimated $196.8 billion by 2030.

Q2. What is the growth forecast for iron and steel casting market?

Answer: The global iron and steel casting market is expected to grow with a CAGR of 5.2% from 2024 to 2030.

Q3. What are the major drivers influencing the growth of the iron and steel casting market?

Answer: The major drivers for this market are rapid expansion of construction industry and rising demand for this casting from automotive and industrial sector.

Q4. What are the major segments for iron and steel casting market?

Answer: The future of the iron and steel casting market looks promising with opportunities in the automotive & transport, machinery & equipment, pump & valve, and pipe & fitting markets.

Q5. Who are the key iron and steel casting market companies?

Answer: Some of the key iron and steel casting companies are as follows:

• Tata Steel
• Hyundai Steel
• Nelcast
• ArcelorMittal
• Amsted Rail
• Evraz
• Calmet
• OSCO Industries
• Hitachi Metals
• Nuco

Q6. Which iron and steel casting market segment will be the largest in future?

Answer: Lucintel forecasts that ductile iron will remain the larger segment over the forecast period due to its various advantages, such as enhanced machining, casting, and compressive strength.

Q7. In iron and steel casting market, which region is expected to be the largest in next 5 years?

Answer: North America will remain the largest region over the forecast period due to the rising investment among infrastructure and construction activities in the region.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

• Q.1. What are some of the most promising, high-growth opportunities for the iron and steel casting market by product type (ductile iron, steel, and others), application (automotive & transport, machinery & equipment, pumps & valve, pipes & fittings, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?
• Q.2. Which segments will grow at a faster pace and why?
• Q.3. Which region will grow at a faster pace and why?
• Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?
• Q.5. What are the business risks and competitive threats in this market?
• Q.6. What are the emerging trends in this market and the reasons behind them?
• Q.7. What are some of the changing demands of customers in the market?
• Q.8. What are the new developments in the market? Which companies are leading these developments?
• Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?
• Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?
• Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?