Global Steel Casting Market 2026-2035

Description

List of Tables

Steel Casting Market Size, Share & Trends Analysis Report by Type (Carbon steel, Low-alloy steel, High-alloy steel) by Process (Sand Casting, Die Casting, Investment Casting, Gravity Die Casting, Shell Molding, Others) by Application (Automotive and Transportation, Construction and Infrastructure, Oil, Gas, and Drilling, Mining and Mineral Processing, Marine and Shipbuilding, Industrial Equipment and Manufacturing, Aerospace and Defense, Energy and Utilities, Others), Forecast Period (2026-2035)

Industry Overview

Steel casting market was valued at $28.3 billion in 2025 and is projected to reach $57.0 billion by 2035, growing at a CAGR of 6.6% during the forecast period (2026-2035). The global steel casting market is expanding at a fast pace owing to the rising demand from end-use industries such as automotive, construction, energy, and heavy machinery, combined with advancements in casting technologies and increasing industrialization across emerging economies. Steel castings are used broadly in industrial equipment as connectors. The railroad industry uses steel castings extensively for trucks, wheels, and corners. Traditional iron and steel are supplemented with high-performance alloys and composite materials. These new materials offer superior strength, durability, and resistance to wear and corrosion, essential qualities for components that endure extreme conditions. Castings made from aluminum alloys or stainless steel are becoming more common, particularly in high-speed trains, where weight reduction is crucial.

In April 2025, Hoa Phat and Primetals Technologies signed a contract to supply a high-quality steel casting and rolling line with a capacity of 500,000 tons per year. The line also integrates a standby for large-size billet casting modules to produce rail steel (bloom), and beam blanks to produce steel profiles up to 800 millimeters for the steel structure industry. According to the schedule, the rolling line is expected to provide the first products in the third quarter of 2026, and the casting line will be put into operation in the fourth quarter of 2026.

Market Dynamics

Rising Demand for Steel Casting Components Driven by Global Energy Transition

Steel casting components play a vital role in the energy transition, supporting technologies such as wind turbines, solar panels, and green hydrogen. In wind energy, cast steel ensures the strength and durability of turbine hubs, bearings, and foundations, enabling reliable power generation. For solar energy, castings provide robust structural supports and mounting systems that withstand harsh environments. In green hydrogen production, steel casting components are essential in pressure vessels, pipelines, and electrolyzers, ensuring safety and efficiency. Companies like FERESPE offer cast steel components for building sustainable infrastructure and driving the global shift toward clean, renewable energy sources. According to the National Renewable Energy Laboratory, wind turbines are predominantly made of steel (66-79% of total turbine mass). This indicates strong demand for steel components, including cast hubs, cast bearings, and cast foundations.

Rising Importance of Steel Castings in Enhancing the Durability of Marine Structures

The construction and maintenance of marine structures are complex tasks that demand the utmost durability, reliability, and strength from the materials used. These structures that are continually exposed to harsh marine environments need to withstand factors such as saltwater corrosion, extreme weather conditions, and significant mechanical stress. Amongst the various materials suitable for constructing these demanding applications, steel casting emerges as a predominant choice for heavy-duty marine structures. Steel castings are employed in creating parts that form the core of large marine infrastructure, including ship hulls, anchor systems, and propellers. The process of steel casting involves molten steel being poured into moulds, where it solidifies in specific geometrical shapes. Properly executed, steel casting produces components with high dimensional accuracy, structural integrity, and mechanical properties that can be tailored to various requirements. For engineers and construction teams, the selection of high-quality steel castings is pivotal to ensuring both safety and longevity in marine engineering projects.

In May 2025, Private investment firm Auxo Investment Partners announced the acquisition of Bay Cast Incorporated (BCI) and Bay Cast Technologies (BCT), an integrated steel casting and precision machining company based in Bay City, Michigan. Bay Cast specializes in producing large, complex components for the space, marine, aerospace & defense, energy, chemical, testing, power generation, automotive, and agricultural industries.

Market Segmentation

Based on the type, the market is segmented into carbon steel, low-alloy steel, and high-alloy steel.
Based on the process, the market is segmented into sand casting, die casting, investment casting

, gravity die casting, shell molding, and others.

Based on the application, the market is segmented into automotive and transportation, construction and infrastructure, oil, gas, and drilling, mining and mineral processing, marine and shipbuilding, industrial equipment and manufacturing, aerospace and defense, energy and utilities, and others.

Growth of Sand Casting Supported by Increasing Manufacturing and Automotive Output

Sand casting is a method of metal casting in which metal is poured into a sand mold, which contains a hollow cavity of desired shape, allowing it to cool and solidify. The sand is then broken and shaken out. It can be used to produce a wide range of parts, from simple to complex, in a variety of materials, including ferrous and non-ferrous metals. Sand casting is also relatively inexpensive, making it a good choice for low-volume production. Sand casting is used in multiple industries, some of which are automotive, aerospace, construction sector, industrial machinery, to create components for heavy machinery and industrial equipment, art, and sculpture, and in the marine industry for manufacturing ship components.

With technological advancements and growing end-user industries, the overall sand casting market is also growing globally. For instance, according to the International Organisation of Motor Vehicle Manufacturers (OICA), global sales of motor vehicles reached approximately 95 million in 2024, representing an increase from the 92.8 million units sold in 2023. As per the European Automobile Manufacturers Association (ACEA), the car production in Asia continued to expand in 2024, growing by 1.5% to nearly 46 million cars. China saw the largest increase (5.2%), whilst India saw a 4.7% rise in its car production.

Regional Outlook

The global steel casting market is further divided by region, including North America (the US and Canada), Europe (the UK, Germany, France, Italy, Spain, Russia, and the Rest of Europe), Asia-Pacific (India, China, Japan, South Korea, Australia and New Zealand, ASEAN Countries, and the Rest of Asia-Pacific), and the Rest of the World (the Middle East & Africa, and Latin America).

Asia-Pacific is Leading the Global Steel Casting Market

Steel casting has emerged as a pivotal sector within China's manufacturing landscape, playing a vital role in the production of a wide array of industrial components. Traditionally known for its prowess in various forms of metallurgy, China's steel casting industry has undergone significant transformations over the decades, adapting to both global demands and technological innovations. Furthermore, sustainability has become a focal point in the industry. With a growing awareness of environmental impacts, several Chinese steel casting manufacturers are shifting towards more eco-friendly practices. This includes recycling scrap metal and minimizing waste throughout the production cycle, thereby reducing their carbon footprint and contributing to a circular economy. In 2021, the Ministry of Industry and Information Technology (MIIT) released China's fourteenth five-year plan for industrial green development. The plan promoted efficient resource utilization and emphasized recycling renewable resources. China aimed to build large-scale integrated centers for eco-friendly sorting and treatment of iron, steel, and non-ferrous metal scrap to boost recycling rates of key metals like copper, aluminum, cobalt, and lithium.

Moreover, expanding manufacturing hubs in China, India, South Korea, Japan, and Southeast Asian countries significantly boost demand for steel cast components. These regions invest heavily in industrial infrastructure, machinery, and logistics. The expansion of manufacturing and logistics hubs in Asia is expected to stimulate steel casting market growth, driven by the rising need for durable, high-performance components in industrial and infrastructural applications.

In December 2024, Sumitomo Corporation announced the expansion of the second phase of the ORIGINS Chennai, which it operates in partnership with Mahindra World City Developers Ltd. This expansion added approximately 57 hectares of development to the existing 124-hectare Phase I, with land sales set to commence in 2025.
In March 2024, DP World announced a $50 million investment to develop a new logistics centre in Busan New Port, strengthening the port's position as a logistics hub for Northeast Asia and reinforcing the global standing of the wider Busan-Jinhae Free Economic Zone (BJFEZ) in business and logistics.

Market Players Outlook

The major companies operating in the global steel casting market include ArcelorMittal, Doosan Enerbility Co., Ltd., Japan Steel Works M&E, Inc., Kobe Steel, Ltd., Hitachi Power Solutions Co., Ltd, among others. Market players are leveraging partnerships, collaborations, mergers, and acquisition strategies for business expansion and innovative product development to maintain their market positioning.

The Report Covers:

Market value data analysis of 2025 and forecast to 2035.
Annualized market revenues ($ million) for each market segment.
Country-wise analysis of major geographical regions.
Key companies operating in the global steel casting market. Based on the availability of data, information related to new products and relevant news is also available in the report.
Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
Analysis of market-entry and market expansion strategies.
Competitive strategies by identifying 'who-stands-where' in the market.

Product Code: OMR2028962

1. Report Summary

Current Industry Analysis and Growth Potential Outlook
Global Steel Casting Market Sales Analysis - Component| Installation Type| Location| Capacity| End Users ($ Million)
Steel Casting Market Sales Market Sales Performance of Top Countries
1.1. Research Methodology
Primary Research Approach
Secondary Research Approach
1.2. Market Snapshot

2. Market Overview and Insights

2.1. Scope of the Study
2.2. Analyst Insight & Current Market Trends
- 2.2.1. Key Steel Casting Market Trends
- 2.2.2. Market Recommendations

3. Market Determinants

3.1. Market Drivers
- 3.1.1. Drivers For Global Steel Casting Market: Impact Analysis
3.2. Market Pain Points and Challenges
- 3.2.1. Restraints For Global Steel Casting Market: Impact Analysis
3.3. Market Opportunities
- 3.3.1. Opportunities For Global Steel Casting Market: Impact Analysis

4. Competitive Landscape

4.1. Competitive Dashboard - Steel Casting Market Revenue and Share by Manufacturers
Steel Casting Comparison Analysis
Top Market Player Ranking Matrix
4.2. Key Company Analysis
- 4.2.1. ArcelorMittal
  - 4.2.1.1. Overview
  - 4.2.1.2. Product Portfolio
  - 4.2.1.3. Financial Analysis
  - 4.2.1.4. SWOT Analysis
  - 4.2.1.5. Business Strategy
- 4.2.2. Doosan Enerbility Co., Ltd.
  - 4.2.2.1. Overview
  - 4.2.2.2. Product Portfolio
  - 4.2.2.3. Financial Analysis
  - 4.2.2.4. SWOT Analysis
  - 4.2.2.5. Business Strategy
- 4.2.3. Japan Steel Works M&E, Inc.
  - 4.2.3.1. Overview
  - 4.2.3.2. Product Portfolio
  - 4.2.3.3. Financial Analysis
  - 4.2.3.4. SWOT Analysis
  - 4.2.3.5. Business Strategy
- 4.2.4. Kobe Steel, Ltd.
  - 4.2.4.1. Overview
  - 4.2.4.2. Product Portfolio
  - 4.2.4.3. Financial Analysis
  - 4.2.4.4. SWOT Analysis
  - 4.2.4.5. Business Strategy
- 4.2.5. Hitachi Power Solutions Co.,Ltd
  - 4.2.5.1. Overview
  - 4.2.5.2. Product Portfolio
  - 4.2.5.3. Financial Analysis
  - 4.2.5.4. SWOT Analysis
  - 4.2.5.5. Business Strategy
4.3. Top Winning Strategies by Market Players
- 4.3.1. Merger and Acquisition
- 4.3.2. Product Launch
- 4.3.3. Partnership And Collaboration

5. Global Steel Casting Market Sales Analysis By Type ($ Million)

5.1. Carbon Steel
5.2. Low-Alloy Steel
5.3. High-Alloy Steel

6. Global Steel Casting Market Sales Analysis By Process ($ Million)

6.1. Sand Casting
6.2. Die Casting
6.3. Investment Casting
6.4. Gravity Die Casting
6.5. Shell Molding
6.6. Others

7. Global Steel Casting Market Sales Analysis By Application ($ Million)

7.1. Automotive and Transportation
7.2. Construction and Infrastructure
7.3. Oil, Gas, and Drilling
7.4. Mining and Mineral Processing
7.5. Marine and Shipbuilding
7.6. Industrial Equipment and Manufacturing
7.7. Aerospace and Defense
7.8. Energy and Utilities
7.9. Others

8. Regional Analysis

8.1. North American Steel Casting Market Sales Analysis - Type | Process | Application| Country ($ Million)
Macroeconomic Factors for North America
- 8.1.1. United States
- 8.1.2. Canada
8.2. European Steel Casting Market Sales Analysis - Type | Process | Application| Country ($ Million)
Macroeconomic Factors for Europe
- 8.2.1. UK
- 8.2.2. Germany
- 8.2.3. Italy
- 8.2.4. Spain
- 8.2.5. France
- 8.2.6. Russia
- 8.2.7. Rest of Europe
8.3. Asia-Pacific Steel Casting Market Sales Analysis - Type | Process | Application| Country ($ Million)
Macroeconomic Factors for Asia-Pacific
- 8.3.1. China
- 8.3.2. Japan
- 8.3.3. South Korea
- 8.3.4. India
- 8.3.5. Australia & New Zealand
- 8.3.6. ASEAN Countries (Thailand, Indonesia, Vietnam, Singapore, And Other)
- 8.3.7. Rest of Asia-Pacific
8.4. Rest of the World Steel Casting Market Sales Analysis - Type | Process | Application| Country ($ Million)
Macroeconomic Factors for the Rest of the World
- 8.4.1. Latin America
- 8.4.2. Middle East and Africa

9. Company Profiles

9.1. Alcast Technologies Ltd
- 9.1.1. Quick Facts
- 9.1.2. Company Overview
- 9.1.3. Product Portfolio
- 9.1.4. Business Strategies
9.2. ArcelorMittal
- 9.2.1. Quick Facts
- 9.2.2. Company Overview
- 9.2.3. Product Portfolio
- 9.2.4. Business Strategies
9.3. Barron Industries
- 9.3.1. Quick Facts
- 9.3.2. Company Overview
- 9.3.3. Product Portfolio
- 9.3.4. Business Strategies
9.4. CIREX BV
- 9.4.1. Quick Facts
- 9.4.2. Company Overview
- 9.4.3. Product Portfolio
- 9.4.4. Business Strategies
9.5. Dandong Fuding Engineering Machinery Co., Ltd
- 9.5.1. Quick Facts
- 9.5.2. Company Overview
- 9.5.3. Product Portfolio
- 9.5.4. Business Strategies
9.6. Doosan Enerbility Co., Ltd.
- 9.6.1. Quick Facts
- 9.6.2. Company Overview
- 9.6.3. Product Portfolio
- 9.6.4. Business Strategies
9.7. Eagle Alloy
- 9.7.1. Quick Facts
- 9.7.2. Company Overview
- 9.7.3. Product Portfolio
- 9.7.4. Business Strategies
9.8. Eurobalt
- 9.8.1. Quick Facts
- 9.8.2. Company Overview
- 9.8.3. Product Portfolio
- 9.8.4. Business Strategies
9.9. Ferralloy Inc.
- 9.9.1. Quick Facts
- 9.9.2. Company Overview
- 9.9.3. Product Portfolio
- 9.9.4. Business Strategies
9.10. Fonderia Augusta S.r.l.
- 9.10.1. Quick Facts
- 9.10.2. Company Overview
- 9.10.3. Product Portfolio
- 9.10.4. Business Strategies
9.11. Georg Fischer Ltd
- 9.11.1. Quick Facts
- 9.11.2. Company Overview
- 9.11.3. Product Portfolio
- 9.11.4. Business Strategies
9.12. GMH Gruppe SE & Co. KG
- 9.12.1. Quick Facts
- 9.12.2. Company Overview
- 9.12.3. Product Portfolio
- 9.12.4. Business Strategies
9.13. Goodwin PLC
- 9.13.1. Quick Facts
- 9.13.2. Company Overview
- 9.13.3. Product Portfolio
- 9.13.4. Business Strategies
9.14. Harrison Steel Castings Company
- 9.14.1. Quick Facts
- 9.14.2. Company Overview
- 9.14.3. Product Portfolio
- 9.14.4. Business Strategies
9.15. Hitachi Power Solutions Co.,Ltd.
- 9.15.1. Quick Facts
- 9.15.2. Company Overview
- 9.15.3. Product Portfolio
- 9.15.4. Business Strategies
9.16. Isgec Heavy Engineering Ltd.
- 9.16.1. Quick Facts
- 9.16.2. Company Overview
- 9.16.3. Product Portfolio
- 9.16.4. Business Strategies
9.17. Japan Steel Works M&E, Inc.
- 9.17.1. Quick Facts
- 9.17.2. Company Overview
- 9.17.3. Product Portfolio
- 9.17.4. Business Strategies
9.18. Kobe Steel, Ltd.
- 9.18.1. Quick Facts
- 9.18.2. Company Overview
- 9.18.3. Product Portfolio
- 9.18.4. Business Strategies
9.19. Kormax
- 9.19.1. Quick Facts
- 9.19.2. Company Overview
- 9.19.3. Product Portfolio
- 9.19.4. Business Strategies
9.20. Kubota Corporation
- 9.20.1. Quick Facts
- 9.20.2. Company Overview
- 9.20.3. Product Portfolio
- 9.20.4. Business Strategies
9.21. Norton Cast Products
- 9.21.1. Quick Facts
- 9.21.2. Company Overview
- 9.21.3. Product Portfolio
- 9.21.4. Business Strategies
9.22. Peekay Steel Castings
- 9.22.1. Quick Facts
- 9.22.2. Company Overview
- 9.22.3. Product Portfolio
- 9.22.4. Business Strategies
9.23. Petriemetal
- 9.23.1. Quick Facts
- 9.23.2. Company Overview
- 9.23.3. Product Portfolio
- 9.23.4. Business Strategies
9.24. POSCO International
- 9.24.1. Quick Facts
- 9.24.2. Company Overview
- 9.24.3. Product Portfolio
- 9.24.4. Business Strategies
9.25. Voestalpine Stahl Gmbh
- 9.25.1. Quick Facts
- 9.25.2. Company Overview
- 9.25.3. Product Portfolio
- 9.25.4. Business Strategies
9.26. Weifang Lida Casting Co., Ltd.
- 9.26.1. Quick Facts
- 9.26.2. Company Overview
- 9.26.3. Product Portfolio
- 9.26.4. Business Strategies
9.27. WHEMCO, Inc
- 9.27.1. Quick Facts
- 9.27.2. Company Overview
- 9.27.3. Product Portfolio
- 9.27.4. Business Strategies
9.28. William Cook Group
- 9.28.1. Quick Facts
- 9.28.2. Company Overview
- 9.28.3. Product Portfolio
- 9.28.4. Business Strategies
9.29. Zlievaren Zabrez a.s
- 9.29.1. Quick Facts
- 9.29.2. Company Overview
- 9.29.3. Product Portfolio
- 9.29.4. Business Strategies