North America Steel Market Size & Outlook, 2024-2030

The steel market in North America is expected to reach a projected revenue of US$ 158,826.6 million by 2030. A compound annual growth rate of 2.6% is expected of North America steel market from 2025 to 2030.
Revenue, 2024 (US$M)
$136,278.6
Forecast, 2030 (US$M)
$158,826.6
CAGR, 2025 - 2030
2.6%
Report Coverage
North America

North America steel market highlights

  • The North America steel market generated a revenue of USD 134,137.0 million in 2023.
  • The market is expected to grow at a CAGR of 2.4% 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.
  • Country-wise, Mexico is expected to register the highest CAGR from 2024 to 2030.

North America data book summary

Market revenue in 2023USD 134,137.0 million
Market revenue in 2030USD 158,826.6 million
Growth rate2.4% (CAGR from 2024 to 2030)
Largest segmentBuilding & construction
Fastest growing segmentHeavy Industry
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, North America region accounted for 7.5% 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.

Building & construction was the largest segment with a revenue share of 53.77% in 2024. Horizon Databook has segmented the North America steel market based on building & construction, automotive & transportation, heavy industry, consumer goods covering the revenue growth of each sub-segment from 2018 to 2030.


A more effective trade policy with broader import restraint is required for the country to level its production levels over the near future. Recovery in the North American economy and growth of several significant end-use industries is expected to remain a macro-driving factor for steel.

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

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

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

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