Mexico Steel Market Size & Outlook, 2024-2030

The steel market in Mexico is expected to reach a projected revenue of US$ 32,341.2 million by 2030. A compound annual growth rate of 3.6% is expected of Mexico steel market from 2025 to 2030.
Revenue, 2024 (US$M)
$26,087.2
Forecast, 2030 (US$M)
$32,341.2
CAGR, 2025 - 2030
3.6%
Report Coverage
Mexico

Mexico steel market highlights

  • The Mexico steel market generated a revenue of USD 25,420.0 million in 2023 and is expected to reach USD 32,341.2 million by 2030.
  • The Mexico market is expected to grow at a CAGR of 3.5% from 2024 to 2030.
  • In terms of segment, building & construction was the largest revenue generating end use in 2023.
  • Heavy Industry is the most lucrative end use segment registering the fastest growth during the forecast period.

Steel market data book summary

Market revenue in 2023USD 25,420.0 million
Market revenue in 2030USD 32,341.2 million
Growth rate3.5% (CAGR from 2024 to 2030)
Largest segmentBuilding & construction
Fastest growing segmentHeavy Industry
Historical data2018 - 2022
Base year2023
Forecast period2024 - 2030
Quantitative unitsRevenue in USD million
Market segmentationBuilding & Construction, Automotive & Transportation, Heavy Industry, Consumer Goods

Other key industry trends

  • In terms of revenue, Mexico accounted for 1.4% of the global steel market in 2023.
  • Country-wise, China is expected to lead the global market in terms of revenue in 2030.
  • In North America, U.S. steel market is projected to lead the regional market in terms of revenue in 2030.
  • Mexico is the fastest growing regional market in North America and is projected to reach USD 32,341.2 million by 2030.

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Mexico steel market size, by application, 2018-2030 (US$M)

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

Mexico steel market size, by application, 2018-2030 (US$M)

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