Europe Steel Market Size and Share Analysis 2025-2033

Europe Steel Market Forecast by 2033

• Market Size in 2024: USD 236.9 Billion

• Market Forecast in 2033: USD 260.1 Billion

• Market Growth Rate 2025-2033: 1.15%

The Europe steel market was valued at USD 236.9 billion in 2024 and is projected to reach USD 260.1 billion by 2033, expanding at a CAGR of 1.15%. Moderate growth is underpinned by infrastructure renewal, electric vehicle supply chains and green steel investments across the continent.

Growth Drivers for European Steel Market

EU Recovery and Resilience Facility Channels Funds to Construction-Grade Steel

The bloc’s EUR 723.8 billion facility allocated EUR 98 billion to member states for modernising buildings and transport networks. National recovery plans published in 2023 show that 41% of construction budgets will be spent on low-carbon steel components. Government tender portals recorded a 28% rise in structural steel awards during Q1 2024, translating into direct volume uplift for the European steel market.

German Automotive OEMs Accelerate Ultra-High-Strength Steel Adoption

The German Federal Transport Authority reports that 62% of new EV platforms launched in 2024 integrate hot-formed steel crash cages to offset battery weight. VW’s MEB+ platform alone is expected to consume 330,000 tonnes of 1,500 MPa grades annually. Local mills are investing EUR 1.2 billion in new continuous annealing lines, ensuring automotive remains a lucrative segment for the European steel market.

CBAM Carbon Border Adjustment Boosts Domestic Green Steel Demand

The EU’s Carbon Border Adjustment Mechanism entered its transitional phase in October 2023, requiring importers to report embedded emissions. With full financial levies starting in 2026, buyers are pre-emptively sourcing EU-produced green steel to avoid cost escalation. The European Commission states that 8.5 million tonnes of CBAM-affected steel arrived in 2023; replacing even 20% with local low-carbon output could add 1.7 million tonnes to the European steel market each year.

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Europe Steel Market Segmentation

Type Insights:

• Flat Steel

• Long Steel

  
  

Product Insights:

• Structural Steel

• Prestressing Steel

• Bright Steel

• Welding Wire and Rod

• Iron Steel Wire

• Ropes

• Braids

Application Insights:

• Building and Construction

• Electrical Appliances

• Metal Products

• Automotive

• Transportation

• Mechanical Equipment

• Domestic Appliances

Country Insights:

• Germany

• France

• United Kingdom

• Italy

• Spain

• Others

European Steel Companies:

• ArcelorMittal

• Thyssenkrupp AG

• Voestalpine AG

• SSAB AB

• Tata Steel Europe

• Salzgitter AG

• Acciaierie d’Italia

• Liberty Steel Group (GFG Alliance)

• Riva Group

• Celsa Group

Europe Steel Market News:

• May 2024: ArcelorMittal commissions a 2.5 million tpy electric arc furnace at its Sestao plant, targeting carbon-neutral flat steel output by 2025.

• April 2024: Thyssenkrupp secures grid connection permit for its planned 5 GW green hydrogen electrolyser to feed DRI steel production in Wilhelmshaven.

• March 2024: Salzgitter AG receives EUR 1 billion state aid approval from the EU Commission for its SALCOS low-carbon steel project.

• February 2024: H2 Green Steel signs a ten-year supply contract with Mercedes-Benz for 350,000 tonnes of green hot-rolled coil annually from 2026 onward.

Key highlights of the Report:

• Market Performance (2019-2024)

• Market Outlook (2025-2033)

• COVID-19 Impact on the Market

• Porter’s Five Forces Analysis

• Strategic Recommendations

• Historical, Current and Future Market Trends

• Market Drivers and Success Factors

• SWOT Analysis

• Structure of the Market

• Value Chain Analysis

• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.

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