Global Iron Ore Market Size & Outlook, 2025-2030
Global iron ore market, 2018-2030 (US$M)
Related Markets
Global iron ore market highlights
- The global iron ore market generated a revenue of USD 275,230.4 million in 2024 and is expected to reach USD 313,019.3 million by 2030.
- The market is expected to grow at a CAGR (2025 - 2030) of 4% by 2030.
- In terms of segment, pellets accounted for a revenue of USD 142,697.5 million in 2024.
- Pellets is the most lucrative type segment registering the fastest growth during the forecast period.
- In terms of region, Asia Pacific was the largest revenue generating market in 2024.
- Country-wise, U.S. is expected to register the highest CAGR from 2025 to 2030.
Global data book summary
| Market revenue in 2024 | USD 275,230.4 million |
| Market revenue in 2030 | USD 313,019.3 million |
| Growth rate | 4% (CAGR from 2025 to 2030) |
| Largest segment | Pellets |
| Fastest growing segment | Pellets |
| Historical data covered | 2018 - 2023 |
| Base year for estimation | 2024 |
| Forecast period covered | 2025 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Fines, Lumps, Pellets |
Other key industry trends
- In terms of revenue, the North America accounted for 4.5% of the global iron ore market in 2024.
- By country, the China is projected to lead the global market in terms of revenue in 2030.
- By country, U.S. is the fastest growing regional market and is projected to reach USD 5,024.7 million by 2030.
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Iron Ore Market Scope
Iron Ore Market Companies
| Name | Profile | # Employees | HQ | Website |
|---|---|---|---|---|
| LKAB | View profile | 5001-10000 | Luleå, Norrbottens Lan, Sweden, Europe | http://www.lkab.com |
| Fortescue Metals | View profile | 1001-5000 | East Perth, Western Australia, Australia, Oceania | http://www.fmgl.com.au |
| EVRAZ Group | View profile | 10001+ | London, England, United Kingdom, Europe | https://www.evraz.com |
| Ansteel | View profile | - | Anshan, Liaoning, China, Asia | http://www.ansteel.cn |
| Vale | View profile | 10001+ | Rio De Janeiro, Rio de Janeiro, Brazil, South America | http://www.vale.com |
| Metalloinvest | View profile | 501-1000 | Moscow, Moscow City, Russian Federation, Europe | https://metalloinvest.com |
| BHP Group Ltd | View profile | 42319 | 171 Collins Street, Level 18, Melbourne, VIC, Australia, 3000 | https://www.bhp.com |
| Anglo American PLC | View profile | 58000 | 17 Charterhouse Street, London, United Kingdom, EC1N 6RA | https://www.angloamerican.com |
| HBIS | View profile | 51-100 | Waxahachie, Texas, United States, North America | https://www.hbisonline.com |
| Rio Tinto PLC ADR | View profile | 57174 | 6 St James’s Square, London, United Kingdom, SW1Y 4AD | https://www.riotinto.com |
| Cleveland-Cliffs Inc | View profile | 28000 | 200 Public Square, Suite 3300, Cleveland, OH, United States, 44114-2315 | https://www.clevelandcliffs.com |
| ArcelorMittal SA Depository Receipt | View profile | 126756 | 24-26, Boulevard d’Avranches, Luxembourg, Luxembourg, L-1160 | http://www.arcelormittal.com |
Global iron ore market outlook
The databook is designed to serve as a comprehensive guide to navigating this sector. The databook focuses on market statistics denoted in the form of revenue and y-o-y growth and CAGR across the globe and regions. A detailed competitive and opportunity analyses related to iron ore market will help companies and investors design strategic landscapes.
Pellets was the largest segment with a revenue share of 51.85% in 2024. Horizon Databook has segmented the Global iron ore market based on fines, lumps, pellets covering the revenue growth of each sub-segment from 2018 to 2030.
- Global Iron Ore Type Outlook (Revenue, USD Million, 2018-2030)
- Fines
- Lumps
- Pellets
- Others
- Global Iron Ore End Use Outlook (Revenue, USD Million, 2018-2030)
- Steel Industry
- Others
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Target buyers of Global iron ore market databook
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Our clientele includes a mix of iron ore market companies, investment firms, advisory firms & academic institutions.
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Approximately 65% of our revenue is generated working with competitive intelligence & market intelligence teams of market participants (manufacturers, service providers, etc.).
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Horizon Databook provides a detailed overview of global-level data and insights on the Global iron ore market , including forecasts for subscribers. This global databook contains high-level insights into Global iron ore market from 2018 to 2030, including revenue numbers, major trends, and company profiles.
Partial client list
Global iron ore market size, by regions, 2018-2030 (US$M)
Top 10 countries: Iron ore market size, 2024 (US$M)
Global iron ore market share, by type, 2024 & 2030 (%, US$M)
Iron ore market: Opportunity assessment by country
Global iron ore market, by region, 2024 (US$M)
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