North America Steel Market Size & Outlook, 2024-2030
North America steel market, 2018-2030 (US$M)
Related Markets
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 2023 | USD 134,137.0 million |
| Market revenue in 2030 | USD 158,826.6 million |
| Growth rate | 2.4% (CAGR from 2024 to 2030) |
| Largest segment | Building & construction |
| Fastest growing segment | Heavy Industry |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Building & 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)
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