India Iron and Steel Market (2025-2031) Outlook | Growth, Trends, Analysis, Revenue, Value, Size, Share, Industry, Companies & Forecast

India Iron and Steel? Market Synopsis

In terms of revenue, the iron &steel market size in India was valued USD 84 billion in 2025 and is estimated to reach around USD 101 billion growing at a CAGR of 4% - 6%. The growth can be attributed to factors like increasing investments from public and private players towards development projects across industrial sectors including housing & real estate; automobile; heavy engineering equipment; railways etc., coupled with government initiatives such as Make In India campaign that have generated substantial opportunities within domestic markets backed by an expanding middle class population base leading more people opting for higher quality lifestyle options resulting into higher requirement for better grade materials that would support these consumer preferences within country`s economy.

Market Drivers of the market

The iron and steel market in India is experiencing substantial growth due to the country`s rapid industrialization and urbanization. The construction and infrastructure sectors are the primary drivers of the iron and steel industry, with increasing investments in infrastructure projects and real estate development. Moreover, the automotive and manufacturing sectors also contribute significantly to the demand for iron and steel products. The government`s initiatives to boost domestic manufacturing, such as "Make in India," have further supported the growth of the iron and steel market. Additionally, the export opportunities for steel products have expanded, contributing to market expansion.

Challenges of the Market

The iron and steel market in India is experiencing substantial growth due to the country`s rapid industrialization and urbanization. The construction and infrastructure sectors are the primary drivers of the iron and steel industry, with increasing investments in infrastructure projects and real estate development. Moreover, the automotive and manufacturing sectors also contribute significantly to the demand for iron and steel products. The government`s initiatives to boost domestic manufacturing, such as "Make in India," have further supported the growth of the iron and steel market. Additionally, the export opportunities for steel products have expanded, contributing to market expansion.

Covid-19 Impact on the Market

The iron and steel market in India experienced significant disruptions during the COVID-19 pandemic. With the nationwide lockdown and restrictions on economic activities, the manufacturing and construction sectors, major consumers of iron and steel products, were severely impacted. The closure of construction sites, automotive plants, and other industrial establishments led to a decline in demand for steel products. Additionally, disruptions in supply chains and transportation affected the timely delivery of raw materials and finished goods. The iron and steel industry faced challenges in maintaining production levels and managing inventory amidst the uncertain market conditions.

Key Players of the Market

The India iron and steel market feature key players such as Tata Steel Limited, JSW Steel Limited, Steel Authority of India Limited (SAIL), ArcelorMittal Nippon Steel India Limited, and Rashtriya Ispat Nigam Limited (RINL). These companies are major producers of iron and steel products catering to various industries, including construction, automotive, infrastructure, and manufacturing. They play a critical role in meeting the demand for steel in India and globally. With a focus on technological advancements, product diversification, and sustainability practices, these key players contribute to the growth and competitiveness of the iron and steel market in India.

Key Highlights of the Report:

• India Iron and Steel Market Outlook
• Market Size of India Iron and Steel Market, 2024
• Forecast of India Iron and Steel Market, 2031
• Historical Data and Forecast of India Iron and Steel Revenues & Volume for the Period 2021-2031
• India Iron and Steel Market Trend Evolution
• India Iron and Steel Market Drivers and Challenges
• India Iron and Steel Price Trends
• India Iron and Steel Porter's Five Forces
• India Iron and Steel Industry Life Cycle
• Historical Data and Forecast of India Iron and Steel Market Revenues & Volume By Type for the Period 2021-2031
• Historical Data and Forecast of India Iron and Steel Market Revenues & Volume By Automotive for the Period 2021-2031
• Historical Data and Forecast of India Iron and Steel Market Revenues & Volume By Machinery for the Period 2021-2031
• Historical Data and Forecast of India Iron and Steel Market Revenues & Volume By Application for the Period 2021-2031
• Historical Data and Forecast of India Iron and Steel Market Revenues & Volume By Physical Production for the Period 2021-2031
• Historical Data and Forecast of India Iron and Steel Market Revenues & Volume By Chemical Production for the Period 2021-2031
• Historical Data and Forecast of India Iron and Steel Market Revenues & Volume By Mechanical Production for the Period 2021-2031
• India Iron and Steel Import Export Trade Statistics
• Market Opportunity Assessment By Type
• Market Opportunity Assessment By Application
• India Iron and Steel Top Companies Market Share
• India Iron and Steel Competitive Benchmarking By Technical and Operational Parameters
• India Iron and Steel Company Profiles
• India Iron and Steel Key Strategic Recommendations