Global Steel Casting Market Growth 2025-2031

Global Steel Casting Market Growth 2025-2031

The global Steel Casting market size is predicted to grow from US$ 74150 million in 2025 to US$ 86990 million in 2031; it is expected to grow at a CAGR of 2.7% from 2025 to 2031.

A steel casting is a metal component that is formed by pouring molten steel into a mold cavity. The liquefied steel then cools and solidifies within the mold cavity. By catering the shape of the mold, and hence the casting, to perfectly fit specifications. The casting process of steel can be difficult. It is less fluid than other metals and more reactive to mold materials. Steel castings are used for a variety of reasons. They are mainly used when other types of cast irons do not have enough strength or shock resistance. Steel’s physical properties allow the castings to be both strong and ductile. This makes the steel casting extremely tough and limits the chances of fracturing under pressure. Steel castings are also utilized due to their weldability and corrosion resistance. Due to its reliability and strength, numerous industries rely on steel castings. Industries that use steel castings range from food processing and electronics to oil and gas. Some specific industries that use this type of casting include the railroad, construction, drilling, transportation, and mining industries. Examples of items that are steel casting gears, valve bodies, pump casings, mining machinery, marine equipment, engine cylinder blocker, forging presses, and railroad truck frames.

Global key players of Steel Casting include Precision Castparts, Hitachi, Kobe Steel, Doosan Enerbility, ME Elecmetal, etc. The top five players hold a share about 7%. China is the world's largest market for Steel Casting and holds a share about 29%, followed by APAC (excluding China) and North America, with share about 25% and 24%, separately. In terms of product type, Carbon Steel Casting is the largest segment, accounting for a share about 47%. In terms of application, Rail and Transit is the largest field with a share about 27 percent.

LP Information, Inc. (LPI) ' newest research report, the “Steel Casting Industry Forecast” looks at past sales and reviews total world Steel Casting sales in 2024, providing a comprehensive analysis by region and market sector of projected Steel Casting sales for 2025 through 2031. With Steel Casting sales broken down by region, market sector and sub-sector, this report provides a detailed analysis in US$ millions of the world Steel Casting industry.

This Insight Report provides a comprehensive analysis of the global Steel Casting landscape and highlights key trends related to product segmentation, company formation, revenue, and market share, latest development, and M&A activity. This report also analyzes the strategies of leading global companies with a focus on Steel Casting portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Steel Casting market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Steel Casting and breaks down the forecast by Type, by Application, geography, and market size to highlight emerging pockets of opportunity. With a transparent methodology based on hundreds of bottom-up qualitative and quantitative market inputs, this study forecast offers a highly nuanced view of the current state and future trajectory in the global Steel Casting.

This report presents a comprehensive overview, market shares, and growth opportunities of Steel Casting market by product type, application, key manufacturers and key regions and countries.

Segmentation by Type:
Carbon Steel Casting
Low-Alloy Steel Casting
High Alloy Steel Casting

Segmentation by Application:
Power Generation
Rail and Transit
Mining
Construction Machinery
Oil and Gas
Aerospace and Defense
Shipbuilding
Others

This report also splits the market by region:
Americas
United States
Canada
Mexico
Brazil
APAC
China
Japan
Korea
Southeast Asia
India
Australia
Europe
Germany
France
UK
Italy
Russia
Middle East & Africa
Egypt
South Africa
Israel
Turkey
GCC Countries

The below companies that are profiled have been selected based on inputs gathered from primary experts and analysing the company's coverage, product portfolio, its market penetration.
Precision Castparts
Hitachi
Doosan Enerbility
Kobe Steel
ME Elecmetal
Amsted Rail
Signicast (Form Technologies Company)
MetalTek International
Anhui Yingliu
Harrison Steel Casting
Peekay Steel Castings
Impro Precision
Liaoning Fuan Heavy Industry
Tycon Alloy Industries
Japan Steel Works
Amsteel Castings
Isgec Heavy Engineering

Key Questions Addressed in this Report

What is the 10-year outlook for the global Steel Casting market?

What factors are driving Steel Casting market growth, globally and by region?

Which technologies are poised for the fastest growth by market and region?

How do Steel Casting market opportunities vary by end market size?

How does Steel Casting break out by Type, by Application?

Please note: The report will take approximately 2 business days to prepare and deliver.