Industry Statistics and Trends
Iron & Steel Manufacturing in Europe key trends
COVID-19 cooled the steel market.
Demand for steel from manufacturing and construction plummeted during the pandemic. However, demand bounced back following the return of manufacturing and construction activity.
The value of construction in Europe will grow.
A slow, yet positive, growth in European construction activity will raise the need for steel products like rebar, helping to support iron and steel manufacturers revenue.
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Iron & Steel Manufacturing in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Iron & Steel Manufacturing in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 4.6 % over the past five years, to reach an estimated €277.3bn in 2024.
Trends and Insights
While steel within cars has shifted, some manufacturers have focused on advanced high-strength steel (AHSS)
- According to Material Economics, European carmakers are increasingly using aluminium, composites and carbon fibre to reduce vehicle weight and improve fuel efficiency, which has weighed on steel demand.
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Iron & Steel Manufacturing in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
Circular economy, the use of waste in the economy, benefits the environment and saves energy
- As recycling quotas intensify and iron ore becomes scarce, the production of steel will jump, as steel is completely recyclable, without altering its properties or losing weight. Steel manufacturers, including French steelmaker ArcelorMittal, are increasingly using metal scraps to produce steel.
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Revenue
€277.3bn
Employees
664k
Wages
€XX.Xbn
European Leaders & Laggards
* CAGR values are for the years 2019-2024.
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Biggest companies in the Iron & Steel Manufacturing in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
ArcelorMittal SA | 76,351.8 | 10,003.2 | 13.1 | |
Voestalpine AG | 14,800.0 | 1,500.0 | 10.1 | |
Thyssenkrupp Steel Europe AG | 18,500.0 | 6,300.0 | 34.1 |
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Iron & Steel Manufacturing in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Iron & Steel Manufacturing industry in Europe in 2024?
The market size of the Iron & Steel Manufacturing industry in Europe is €277.3bn in 2024.
How many businesses are there in the Iron & Steel Manufacturing in Europe industry in 2024?
There are 9,941 businesses in the Iron & Steel Manufacturing industry in Europe, which has grown at a CAGR of 3.8 % between 2019 and 2024.
Has the Iron & Steel Manufacturing industry in Europe grown or declined over the past 5 years?
The market size of the Iron & Steel Manufacturing industry in Europe has been declining at a CAGR of 3.8 % between 2019 and 2024.
What is the forecast growth of the Iron & Steel Manufacturing industry in Europe over the next 5 years?
Over the next five years, the Iron & Steel Manufacturing industry in Europe is expected to decline.
What are the biggest companies in the Iron & Steel Manufacturing market in Europe?
The biggest companies operating in the Iron & Steel Manufacturing market in Europe are ArcelorMittal SA, Voestalpine AG and Thyssenkrupp Steel Europe AG
What does the Iron & Steel Manufacturing in Europe include?
Flat products and Bar steel are part of the Iron & Steel Manufacturing industry.
Which companies have the highest market share in the Iron & Steel Manufacturing in Europe?
The company holding the most market share in Europe is ArcelorMittal SA.
Which countries have the most businesses in the Iron & Steel Manufacturing industry in Europe?
The European country with the most businesses in the Iron & Steel Manufacturing industry is Russia.
How competitive is the Iron & Steel Manufacturing industry in Europe?
The level of competition is high and increasing in the Iron & Steel Manufacturing industry in Europe.
Related Industries
This industry is covered in 37 countries
- Iron & Steel Manufacturing in Luxembourg
- Iron & Steel Manufacturing in Russia
- Iron & Steel Manufacturing in Slovakia
- Iron & Steel Manufacturing in Turkey
- Iron & Steel Manufacturing in Cyprus
- Iron & Steel Manufacturing in Estonia
- Iron & Steel Manufacturing in Iceland
- Iron & Steel Manufacturing in Europe
- Iron & Steel Manufacturing in Greece
- Iron & Steel Manufacturing in Romania
- Iron & Steel Manufacturing in Norway
- Iron & Steel Manufacturing in Switzerland
- Iron & Steel Manufacturing in Poland
- Iron & Steel Manufacturing in Ireland
- Iron & Steel Manufacturing in Finland
- Iron & Steel Manufacturing in Bulgaria
- Iron & Steel Manufacturing in Austria
- Iron & Steel Manufacturing in France
- Iron & Steel Manufacturing in Lithuania
- Iron & Steel Manufacturing in the Netherlands
- Iron & Steel Manufacturing in Hungary
- Iron & Steel Manufacturing in Denmark
- Iron & Steel Manufacturing in Malta
- Iron & Steel Manufacturing in Croatia
- Iron & Steel Manufacturing in Slovenia
- Iron & Steel Manufacturing in Spain
- Iron & Steel Manufacturing in Portugal
- Iron & Steel Manufacturing in Serbia
- Iron & Steel Manufacturing in Belgium
- Iron & Steel Manufacturing in Italy
- Iron & Steel Manufacturing in Czechia
- Iron & Steel Manufacturing in Sweden
- Iron & Steel Manufacturing in Latvia
- Iron & Steel Manufacturing in Bosnia & Herzegovina
Table of Contents
About this industry
Industry definition
Companies in this industry produce iron and steel in blast furnaces or reprocess steel in electric arc furnaces. Iron and steel manufacturers convert pig iron, also known as crude iron, into steel and produce ferroalloys and steel products from it. They mainly produce hot- and cold-rolled flat products that are then processed by other manufacturers.
Related Terms
INGOT ELECTRIC ARC FURNACE FERROALLOYS SMELTINGWhat's included in this industry?
Flat products Bar steel Iron and steel ingots Other productsCompanies
ArcelorMittal SAVoestalpine AGThyssenkrupp Steel Europe AGIndustry Code
241 - Manufacture of basic iron and steel in Europe
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Performance
Key Takeaways
While steel within cars has shifted, some manufacturers have focused on advanced high-strength steel (AHSS)
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Revenue Highlights
Trends
- Revenue
- 2024 Revenue CAGR
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Iron & Steel Manufacturing in Europe industry (2011 -2029)
- Employees in the Iron & Steel Manufacturing in Europe industry (2011 -2029)
- Business in the Iron & Steel Manufacturing in Europe industry (2011 -2029)
- Profit in the Iron & Steel Manufacturing in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Iron & Steel Manufacturing in Europe industry?
Outlook
Analysis
What's driving the Iron & Steel Manufacturing in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Iron & Steel Manufacturing in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Iron & Steel Manufacturing in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Major markets for bar steel include construction and also mechanical engineering. Revenue generated from bar steel has trended upwards, driven by the resurgence in the construction sector.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Iron & Steel Manufacturing in Europe industry's products and services performing?
Analysis
What are innovations in the Iron & Steel Manufacturing in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Iron & Steel Manufacturing in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Exporter
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Strong strategies drive market share in steel. Fewer giants dominate Europe's steel scene thanks to economies of scale, strategic acquisitions and leading the green game. Success hinges on cost-efficiency, smart deals and being an eco-conscious pioneer.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 9 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for ArcelorMittal SA
- Countries of operation for Voestalpine AG
- Countries of operation for Thyssenkrupp Steel Europe AG
- Countries of operation for Tata Steel Ltd
- Countries of operation for Marcegaglia Holding SpA
- Countries of operation for Salzgitter AG
- Countries of operation for SSAB AB
- Countries of operation for Outokumpu Oyj
- Countries of operation for CELSA Group
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Regulation pushes towards a greener steel industry in Europe. Government regulations and policy initiatives are steering Europe’s steel industry towards more sustainable and environmentally friendly practices. Both legislative mandates and incentives are driving this shift.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Iron & Steel Manufacturing in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Profit loss is mainly due to high utility prices. Following the Russian invasion of Ukraine in 2022, high gas and electricity prices and a rise in global steel production have caused significant losses for European manufacturers.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Iron & Steel Manufacturing in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
IBISWorld is a world-leading provider of business information, with reports on 5,000+ industries in Australia, New Zealand, North America, Europe and China. Our expert industry analysts start with official, verified and publicly available sources of data to build an accurate picture of each industry.
Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
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