Global Mining Steel Industry Market Overview
The global mining steel industry market was valued at $875.7 billion in 2024 and is projected to grow at a CAGR of 4.63%, reaching $1,450.3 billion by 2035. This growth has been driven by the increasing demand for steel across various sectors, including construction, automotive, and infrastructure. The market is further strengthened by the industry's shift toward more sustainable practices, such as adopting electric arc furnaces (EAF), direct reduced iron (DRI) technologies, and using renewable energy sources. Additionally, the growing need for raw materials, including iron ore and coking coal, to meet the escalating demand for steel production has been driving investment in mining operations and technological innovations within the steel manufacturing process. The transition to a more efficient steelmaking process positions the global mining steel industry for continued expansion in the years ahead.
Introduction to the Global Mining Steel Industry Market
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Mining Steel Industry Market Segmentation:
Segmentation 1: by End-Use Application
• Transportation (Automotive and Other Transportation)
• Building, Construction, and Infrastructure
• Consumer Goods and Appliances
• Industrial Equipment and Manufacturing
• Packaging
• OthersBuilding and Construction to Lead the Mining Steel Industry Market (by End-Use Application)
The building and construction sector is expected to be the leading driver of growth in the mining steel industry market from 2025 to 2035. With rapid urbanization, infrastructure development, and rising global population, steel demand will increase significantly. Due to its durability, flexibility, and strength, Steel's essential role in construction positions it as a key material for housing, bridges, and skyscrapers. Moreover, governments’ investments in large-scale infrastructure projects, especially in emerging economies, will boost steel consumption.
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Segmentation 2: by Production Methodology
• Blast Furnace-Basic Oxygen Furnace (BF-BOF)
• Direct Reduced Iron - Electric Arc Furnace (DRI-EAF)
• Other Emerging TechnologiesBlast Furnace-Basic Oxygen Furnace (BF-BOF) to Lead the Mining Steel Industry Market (by Production Methodology)
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Segmentation 3: by End Products
• Carbon Steel
• Alloy Steel
• Stainless Steel
• High-Strength Steel
• Others......
Mining Steel Industry Market Segmentation:
Segmentation 1: by End-Use Application
• Transportation (Automotive and Other Transportation)
• Building, Construction, and Infrastructure
• Consumer Goods and Appliances
• Industrial Equipment and Manufacturing
• Packaging
• OthersBuilding and Construction to Lead the Mining Steel Industry Market (by End-Use Application)
The building and construction sector is expected to be the leading driver of growth in the mining steel industry market from 2025 to 2035. With rapid urbanization, infrastructure development, and rising global population, steel demand will increase significantly. Due to its durability, flexibility, and strength, Steel's essential role in construction positions it as a key material for housing, bridges, and skyscrapers. Moreover, governments’ investments in large-scale infrastructure projects, especially in emerging economies, will boost steel consumption.
Segmentation 2: by Production Methodology
• Blast Furnace-Basic Oxygen Furnace (BF-BOF)
• Direct Reduced Iron - Electric Arc Furnace (DRI-EAF)
• Other Emerging TechnologiesBlast Furnace-Basic Oxygen Furnace (BF-BOF) to Lead the Mining Steel Industry
Segmentation 3: by End Products
• Carbon Steel
• Alloy Steel
• Stainless Steel
• High-Strength Steel
• Others.....
Segmentation 4: by Region
• North America: U.S., Canada, and Mexico
• Europe: Germany, France, Austria, Italy, U.K., Rest-of-Europe
• Asia-Pacific: China, Japan, India, South Korea, Australia, Rest-of-Asia-Pacific
• Rest-of-the-World: Middle East and Africa, South America
• Nearly all the recent developments from January 2022 to March 2025 have been considered in this research study.
• The information rendered in the report is a result of in-depth primary interviews, surveys, and secondary analysis.
• Where relevant information was not available, proxy indicators and extrapolation were employed.
• Any economic downturn in the future has not been taken into consideration for the market estimation and forecast.
• Technologies currently used are expected to persist through the forecast with no major technological breakthroughs.Market Estimation and Forecast
Mining Steel Industry Market Forecast (2025-2035)
Table of Contents
Executive Summary
Scope and Definition
1 Markets
1.1 Trends: Current and Future Impact Assessment
1.1.1 Automation in Mining and Steel Production Processes
1.1.2 Increased Demand from Emerging Markets
1.2 Supply Chain Overview
1.2.1 Value Chain Analysis
1.2.1.1 Key Iron Ore Producing Nations and Mining Capacity
1.2.1.2 Key Coking Coal Exporting Nations
1.2.2 Supply Chain Constraints
1.2.3 Impact of Geopolitical Issues on Steel Production
1.2.4 Trump's Impact on U.S. Steel Imports and Exports
1.2.5 Pricing Analysis
1.2.6 Market Map (Stakeholder Mapping across Value Chain)
1.3 Patent Filing Trend (by Country, Company)
1.4 Market Dynamics Overview
1.4.1 Market Drivers
1.4.1.1 Urbanization and Infrastructure Growth
1.4.1.2 Public-Private Investments in Infrastructure
1.4.2 Market Restraints
1.4.2.1 Volatility in Raw Material Prices
1.4.2.2 Geopolitical and Trade Tensions
1.4.3 Market Opportunities
1.4.3.1 Growing Demand for Specialty Steel Products
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2.3.5 Packaging
2.3.6 Others
3 Products
3.1 Product Segmentation
3.2 Product Summary
3.3 Global Mining Steel Industry Market (by Production Methodology)
3.3.1 Blast Furnace - Basic Oxygen Furnace (BF-BOF)
3.3.2 Direct Reduced Iron - Electric Arc Furnace (DRI-EAF)
3.3.3 Other Emerging Technologies
3.4 Global Mining Steel Industry Market (by End-Products)
3.4.1 Carbon Steel
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4.3.5 Europe (by Country)
4.3.5.1 Germany
4.3.5.1.1 Application
4.3.5.1.2 Product
4.3.5.1.3 Installed Capacity and Production by Process
4.3.5.1.3.1 Upcoming Projects
4.3.5.1.3.2 Ongoing Investments
4.3.5.1.3.3 Scrap Recycling Overview
4.3.5.1.4 Raw Material Analysis (Iron Ore, Coking Coal, Scrap)
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4.4.5.1.4.1 Consumption by Key Companies
4.4.5.1.4.2 Import Locations/Countries
4.4.5.2 Japan
4.4.5.2.1 Application
4.4.5.2.2 Product
4.4.5.2.3 Installed Capacity and Production by Process
4.4.5.2.3.1 Upcoming Projects
4.4.5.2.3.2 Ongoing Investments
4.4.5.2.3.3 Scrap Recycling Overview
4.4.5.2.4 Raw Material Analysis (Iron Ore, Coking Coal, Scrap)
4.4.5.2.4.1 Consumption by Key Companies
4.4.5.2.4.2 Import Locations/Countries
4.4.5.3 India
4.4.5.3.1 Application
4.4.5.3.2 Product
4.4.5.3.3 Installed Capacity and Production by Process
4.4.5.3.3.1 Upcoming Projects
4.4.5.3.3.2 Ongoing Investments
4.4.5.3.3.3 Scrap Recycling Overview
4.4.5.3.4 Raw Material Analysis (Iron Ore, Coking Coal, Scrap)
4.4.5.3.4.1 Consumption by Key Companies
4.4.5.3.4.2 Import Locations/Countries
4.4.5.4 South Korea
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4.5.5.2 South America
4.5.5.2.1 Application
4.5.5.2.2 Product
4.5.5.2.3 Installed Capacity and Production by Process
4.5.5.2.3.1 Upcoming Projects
4.5.5.2.3.2 Ongoing Investments
4.5.5.2.3.3 Scrap Recycling Overview
4.5.5.2.4 Raw Material Analysis (Iron Ore, Coking Coal, Scrap)
4.5.5.2.4.1 Consumption by Key Companies
4.5.5.2.4.2 Import Locations/Countries
5 Markets - Competitive Benchmarking and Company Profiles
5.1 Next Frontiers
5.2 Geographic Assessment
5.3 Company Profiles
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5.3.4.1 Overview
5.3.4.2 Top Products/Product Portfolio
5.3.4.3 Top Competitors
5.3.4.4 End-Use Industry
5.3.4.5 Key Personnel
5.3.4.6 Analyst View
5.3.4.7 Market Share, 2023
5.3.5 China Jianlong Steel Industriai Co Ltd.
5.3.5.1 Overview
5.3.5.2 Top Products/Product Portfolio
5.3.5.3 Top Competitors
5.3.5.4 End-Use Industry
5.3.5.5 Analyst View
5.3.5.6 Market Share, 2023
5.3.6 Salzgitter AG
5.3.6.1 Overview
5.3.6.2 Top Products/Product Portfolio
5.3.6.3 Top Competitors
5.3.6.4 End-Use Industry
5.3.6.5 Key Personnel
5.3.6.6 Analyst View
5.3.6.7 Market Share, 2023
5.3.7 Tata Steel
5.3.7.1 Overview
5.3.7.2 Top Products/Product Portfolio
5.3.7.3 Top Competitors
5.3.7.4 End-Use Industry
5.3.7.5 Key Personnel
5.3.7.6 Analyst View
5.3.7.7 Market Share, 2023
5.3.8 JSW
5.3.8.1 Overview
5.3.8.2 Top Products/Product Portfolio
5.3.8.3 Top Competitors
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5.3.10.3 Top Competitors
5.3.10.4 End-Use Industry
5.3.10.5 Key Personnel
5.3.10.6 Analyst View
5.3.10.7 Market Share, 2023
5.3.11 Shandong Lenser materials Co.,LTD.
5.3.11.1 Overview
5.3.11.2 Top Products/Product Portfolio
5.3.11.3 Top Competitors
5.3.11.4 End-Use Industry
5.3.11.5 Analyst View
5.3.11.6 Market Share, 2023
5.3.12 HYUNDAI STEEL
5.3.12.1 Overview
5.3.12.2 Top Products/Product Portfolio
5.3.12.3 Top Competitors
5.3.12.4 End-Use Industry
5.3.12.5 Key Personnel
5.3.12.6 Analyst View
5.3.12.7 Market Share, 2023
5.3.13 Jindal Steel & Power Limited
5.3.13.1 Overview
5.3.13.2 Top Products/Product Portfolio
5.3.13.3 Top Competitors
5.3.13.4 End-Use Industry
5.3.13.5 Key Personnel
5.3.13.6 Analyst View
5.3.13.7 Market Share, 2023
5.3.14 SAIL
5.3.14.1 Overview
5.3.14.2 Top Products/Product Portfolio
5.3.14.3 Top Competitors
5.3.14.4 End-Use Industry
5.3.14.5 Key Personnel
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5.3.15.5 Key Personnel
5.3.15.6 Analyst View
5.3.15.7 Market Share, 2023
6 Research Methodology
6.1 Data Sources
6.1.1 Primary Data Sources
6.1.2 Secondary Data Sources
6.1.3 Data Triangulation
6.2 Market Estimation and Forecast
