Dublin, April 17, 2025 (GLOBE NEWSWIRE) -- The "India Hot Rolled & Cold Rolled Steel Market, By Region, Competition, Forecast & Opportunities, 2020-2030F" has been added to ResearchAndMarkets.com's offering.
The India Hot Rolled & Cold Rolled Steel Market was valued at USD 171.11 Billion in 2024 and is projected to reach USD 270.49 Billion by 2030, with a CAGR of 7.77%. As the second-largest producer of crude steel globally, India produced 125.32 million tons (MT) of crude and 121.29 MT of finished steel in FY23. Domestic steel demand is expected to grow by 9-10% in FY25, with production poised to rise by 4-7% to 123-127 MT in FY24.
Key Market Drivers:
The booming automotive industry is a major driver. India's automotive sector, one of the largest worldwide, generates increasing steel demand, particularly Cold Rolled Steel, for its strength, smooth finish, and precise dimensions essential in manufacturing. The demand is further fueled by the trend toward electric vehicles (EVs), which require lightweight, durable frames for improved battery efficiency. The government's "Make in India" initiative also contributes, with foreign car manufacturers investing in domestic production. The automotive industry in India, valued at USD 122 billion in 2024, is forecasted to grow at a CAGR of 10-12%, reaching USD 230 billion by 2030, positioning India as the world's third-largest automotive market following China and the USA.
Key Market Challenges:
Volatility in raw material prices, especially for iron ore and coal, presents significant challenges. Despite being one of the largest steel producers, India heavily relies on global markets for these materials. Price fluctuations, driven by mining disruptions and policy changes, impact production costs and profitability. Concurrently, supply chain disruptions from geopolitical tensions, natural disasters, or events like COVID-19 compound material shortages. Strategies to mitigate these issues include enhancing production efficiencies, exploring alternative raw materials, and strengthening supply chain resilience.
Key Market Trends:
The market is seeing a rise in demand for high-strength, lightweight steel, driven by automotive and construction industries seeking materials with superior strength-to-weight ratios. The switch to advanced high-strength steel (AHSS) and ultra-high-strength steel (UHSS) is reducing vehicle weight and boosting fuel efficiency. This trend extends to the construction industry, where such steel supports modern infrastructure needs. Indian manufacturers are investing in R&D to produce advanced Hot Rolled and Cold Rolled Steel, focusing on strength, durability, and lightweight properties.
Key Market Players:
- ArcelorMittal Nippon Steel India Limited
- Tata Steel Limited
- JSW Group
- Steel Authority of India Limited (SAIL)
- Indian Steel Corporation Limited
- Jindal Steel & Power Limited
- Rashtriya Ispat Nigam Limited
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 88 |
| Forecast Period | 2024 - 2030 |
| Estimated Market Value (USD) in 2024 | $171.11 Billion |
| Forecasted Market Value (USD) by 2030 | $270.49 Billion |
| Compound Annual Growth Rate | 7.7% |
| Regions Covered | India |
Key Topics Covered:
1. Product Overview
2. Research Methodology
3. Executive Summary
4. Voice of Customer
5. India Hot Rolled & Cold Rolled Steel Market Outlook
6. South India Hot Rolled & Cold Rolled Steel Market Outlook
7. North India Hot Rolled & Cold Rolled Steel Market Outlook
8. West India Hot Rolled & Cold Rolled Steel Market Outlook
9. East India Hot Rolled & Cold Rolled Steel Market Outlook
10. Market Dynamics
11. Market Trends & Developments
12. India Economic Profile
13. Company Profiles
14. Strategic Recommendations
15. About the Publisher & Disclaimer
For more information about this report visit https://www.researchandmarkets.com/r/af3837
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