Global Wear Resistant Steel Market Growth 2025-2031

Global Wear Resistant Steel Market Growth 2025-2031

The global Wear Resistant Steel market size is predicted to grow from US$ 4220 million in 2025 to US$ 5599 million in 2031; it is expected to grow at a CAGR of 4.8% from 2025 to 2031.

Wear Resistant Steel are carbon steels used in high abrasion environments, such as in mining equipment, shredders or dumper bodies. Their abrasion resistance is typically measured in terms of indentation hardness.

Global key players of Wear Resistant Steel include SSAB, LY STEEL, JFE, ThyssenKrupp, ESSAR Steel Algoma, etc. The top five players hold a share about 63%. Europe is the largest market, and has a share about 34%, followed by North America and Asia-Pacific with share 29% and 27%, separately. In terms of product type, 500 HB is the largest segment, occupied for a share of 32%. In terms of application, Mining has a share about 56 percent.

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

This Insight Report provides a comprehensive analysis of the global Wear Resistant Steel 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 Wear Resistant Steel portfolios and capabilities, market entry strategies, market positions, and geographic footprints, to better understand these firms’ unique position in an accelerating global Wear Resistant Steel market.

This Insight Report evaluates the key market trends, drivers, and affecting factors shaping the global outlook for Wear Resistant Steel and breaks down the forecast byType, 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 Wear Resistant Steel.

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

Segmentation byType:
Under HBW 400
400 HB
450 HB
500 HB
Above HBW 500

Segmentation by Application:
Mining
Recycling
Yellow Goods
Tippers
Agriculture
Forestry
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.
SSAB
JFE
ThyssenKrupp
Dillinger
Bisalloy
ESSAR Steel Algoma
ArcelorMittal
NSSMC
NLMK Clabecq
Acroni
Salzgitter
LY STEEL
HBIS
Baowu Group
Bisalloy Jigang
NanoSteel
Tata Steel
voestalpine

Key Questions Addressed in this Report

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

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

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

How do Wear Resistant Steel market opportunities vary by end market size?

How does Wear Resistant Steel break out byType, by Application?

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