UK Steel Market Size & Outlook, 2024-2030
The steel market in UK is expected to reach a projected revenue of US$ 10,993.7 million by 2030. A compound annual growth rate of 2.5% is expected of UK steel market from 2025 to 2030.
Revenue, 2024 (US$M)
$9,473.3
Forecast, 2030 (US$M)
$10,993.7
CAGR, 2025 - 2030
2.5%
Report Coverage
UK
UK steel market, 2018-2030 (US$M)
Related Markets
UK steel market highlights
- The UK steel market generated a revenue of USD 9,310.4 million in 2023 and is expected to reach USD 10,993.7 million by 2030.
- The UK 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.
- Automotive & Transportation is the most lucrative end use segment registering the fastest growth during the forecast period.
Steel market data book summary
| Market revenue in 2023 | USD 9,310.4 million |
| Market revenue in 2030 | USD 10,993.7 million |
| Growth rate | 2.4% (CAGR from 2024 to 2030) |
| Largest segment | Building & construction |
| Fastest growing segment | Automotive & Transportation |
| Historical data | 2018 - 2022 |
| Base year | 2023 |
| Forecast period | 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, UK accounted for 0.5% of the global steel market in 2023.
- Country-wise, China is expected to lead the global market in terms of revenue in 2030.
- In Europe, Russia steel market is projected to lead the regional market in terms of revenue in 2030.
- Russia is the fastest growing regional market in Europe and is projected to reach USD 55,489.0 million by 2030.
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UK steel market size, by application, 2018-2030 (US$M)
UK Steel Market Outlook Share, 2024 & 2030 (US$M)
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