Europe Steel Market Size & Outlook, 2024-2030

The steel market in Europe is expected to reach a projected revenue of US$ 285,339.5 million by 2030. A compound annual growth rate of 3.2% is expected of Europe steel market from 2025 to 2030.
Revenue, 2024 (US$M)
$236,017.3
Forecast, 2030 (US$M)
$285,339.5
CAGR, 2025 - 2030
3.2%
Report Coverage
Europe

Europe steel market highlights

  • The Europe steel market generated a revenue of USD 230,670.3 million in 2023.
  • The market is expected to grow at a CAGR of 3.1% from 2024 to 2030.
  • In terms of segment, building & construction was the largest revenue generating end use in 2023.
  • Consumer Goods is the most lucrative end use segment registering the fastest growth during the forecast period.
  • Country-wise, Russia is expected to register the highest CAGR from 2024 to 2030.

Europe data book summary

Market revenue in 2023USD 230,670.3 million
Market revenue in 2030USD 285,339.5 million
Growth rate3.1% (CAGR from 2024 to 2030)
Largest segmentBuilding & construction
Fastest growing segmentConsumer Goods
Historical data covered2018 - 2022
Base year for estimation2023
Forecast period covered2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationBuilding & Construction, Automotive & Transportation, Heavy Industry, Consumer Goods

Other key industry trends

  • In terms of revenue, Europe region accounted for 12.9% of the global steel market in 2023.
  • Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
  • MEA is the fastest growing regional market and is projected to reach USD 120,147.9 million by 2030.

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Europe steel market size, by country, 2018-2030 (US$M)

Europe Steel Market Outlook Share, 2024 & 2030 (US$M)

Europe steel market size, by country, 2018-2030 (US$M)

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