Steel Casting Market by Type (Carbon Steel, Low-Alloy Steel, High-Alloy Steel), Process (Sand Casting, Investment Casting, Die Casting), Formulation (Solvent Based, Solventless, Emulsion), Application, & Region - Global Forecast to 2029
The market for steel casting is approximated to be USD 33.90 billion in 2025, and it is projected to reach USD 42.18 billion by 2029 at a CAGR of 5.6%. The demand for steel casting is being driven by the growing need for durable, high-strength components in industries like automotive, construction, power generation, and aerospace. As infrastructure development expands globally and technological advancements continue, the demand for precision-engineered steel parts that offer reliability, wear resistance, and the ability to withstand extreme conditions has increased significantly. These combined factors propel the steel casting market forward, making it a critical material for various industrial applications.
By Type, Low-Alloy Steel Casting accounted for the highest CAGR during the forecast period
Low alloy steel casting is expected to show the highest CAGR in the forecasted period. This growth will be on account of an increase in the demand for low alloy steel, offering a well-balanced combination of strength, toughness, and corrosion resistance at relatively lower costs as compared to high alloy steels. Its applications can be found across a wide range of industries like automotive, construction, and energy sectors. These sectors include products where components are subjected to critical conditions and very high stresses. The increasing application of low alloy steel in this sector along with recent technological advancements that improve their performance are driving the market, and it has become a choice to manufacture critical components in several applications.
By Process, Die casting accounted for the highest CAGR during the forecast period
Die casting process have the highest demand due to their ability to produce components that are extremely accurate with dimensional accuracy and with very smooth surfaces that are quite suitable for mass production in complicated and intricate parts for most industries. The demand for die casting, especially in such lightweight, high-performance components required in the automobile and electronics fields, is continuously increasing. It is also supplemented by advancements in die casting technologies, such as improved automation of the process as well as the employment of advanced alloys, which further spur its rapid growth, making this one of the most sought-after processes in the steel casting line.
By Formulation, solventless segment accounted for the highest CAGR during the forecast period
Solventless steel casting formulation segment is expected to experience the highest CAGR during the forecasted period. This would mainly be as a result of the demand for more environmental and sustainable options due to solvent-less formulations with elimination of volatile organic compounds and low harmful emissions during processing. Their popularity results from maintaining good performance under increased scrutiny from sterner environmental legislation. It will significantly grow because most industries nowadays prioritize sustainability without any loss in quality; solvent-less applications will significantly boom, particularly in areas like the automotive, energy, and aerospace, where the issues of performance and responsibility toward the environment play significant roles.
By Application, construction machinery sector accounted for the highest CAGR during the forecast period
The construction machinery segment is expected to have the highest CAGR in the steel casting market during the forecasted period. This growth owes its basis to increases in the demand for more robust and high-performance components that are applied for heavy-duty construction equipment, such as cranes, excavators, and bulldozers. The need for strong and reliable construction machinery has increased drastically in the past with the increasing globalization of urbanization and infrastructure development, particularly in emerging economies. Steel castings provide the necessary strength, wear resistance, and durability needed by machinery working under demanding environments, hence, it is a must for the construction industry.
APAC is projected to account for the highest CAGR in the steel casting market during the forecast period
The Asia Pacific region, including India, China, Japan, Australia, South Korea, and the rest of Asia Pacific, is the fastest-growing region in the steel casting market. In India, China, and Japan, this market has been expected to grow drastically because of the increased development activities and fast economic expansion happening in these countries. Additionally, the upward trend for rising urbanization in these countries leads to a large customer base for new construction and development activities, which contributes to market growth during the forecast period.
Companies Covered: ArcelorMittal (Luxembourg), Doosan Corporation (South Korea), Kobe Steel, Ltd., (Japan), Nucor Corporation (US), Isgec Heavy Engineering Ltd. (India), Georg Fischer Ltd. (Switzerland), The Japan Steel Works, Ltd. (Japan), Nelcast Limited (India), Ferralloy, Inc. (US), POSCO (South Korea) are some key players in steel casting Market.
Research Coverage
The market study covers the steel casting market across various segments. It aims to estimate the market size and the growth potential of this market across different segments based on type, process, formulation, application, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the steel casting market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall steel casting market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
The report provides insights on the following pointers:
By Type, Low-Alloy Steel Casting accounted for the highest CAGR during the forecast period
Low alloy steel casting is expected to show the highest CAGR in the forecasted period. This growth will be on account of an increase in the demand for low alloy steel, offering a well-balanced combination of strength, toughness, and corrosion resistance at relatively lower costs as compared to high alloy steels. Its applications can be found across a wide range of industries like automotive, construction, and energy sectors. These sectors include products where components are subjected to critical conditions and very high stresses. The increasing application of low alloy steel in this sector along with recent technological advancements that improve their performance are driving the market, and it has become a choice to manufacture critical components in several applications.
By Process, Die casting accounted for the highest CAGR during the forecast period
Die casting process have the highest demand due to their ability to produce components that are extremely accurate with dimensional accuracy and with very smooth surfaces that are quite suitable for mass production in complicated and intricate parts for most industries. The demand for die casting, especially in such lightweight, high-performance components required in the automobile and electronics fields, is continuously increasing. It is also supplemented by advancements in die casting technologies, such as improved automation of the process as well as the employment of advanced alloys, which further spur its rapid growth, making this one of the most sought-after processes in the steel casting line.
By Formulation, solventless segment accounted for the highest CAGR during the forecast period
Solventless steel casting formulation segment is expected to experience the highest CAGR during the forecasted period. This would mainly be as a result of the demand for more environmental and sustainable options due to solvent-less formulations with elimination of volatile organic compounds and low harmful emissions during processing. Their popularity results from maintaining good performance under increased scrutiny from sterner environmental legislation. It will significantly grow because most industries nowadays prioritize sustainability without any loss in quality; solvent-less applications will significantly boom, particularly in areas like the automotive, energy, and aerospace, where the issues of performance and responsibility toward the environment play significant roles.
By Application, construction machinery sector accounted for the highest CAGR during the forecast period
The construction machinery segment is expected to have the highest CAGR in the steel casting market during the forecasted period. This growth owes its basis to increases in the demand for more robust and high-performance components that are applied for heavy-duty construction equipment, such as cranes, excavators, and bulldozers. The need for strong and reliable construction machinery has increased drastically in the past with the increasing globalization of urbanization and infrastructure development, particularly in emerging economies. Steel castings provide the necessary strength, wear resistance, and durability needed by machinery working under demanding environments, hence, it is a must for the construction industry.
APAC is projected to account for the highest CAGR in the steel casting market during the forecast period
The Asia Pacific region, including India, China, Japan, Australia, South Korea, and the rest of Asia Pacific, is the fastest-growing region in the steel casting market. In India, China, and Japan, this market has been expected to grow drastically because of the increased development activities and fast economic expansion happening in these countries. Additionally, the upward trend for rising urbanization in these countries leads to a large customer base for new construction and development activities, which contributes to market growth during the forecast period.
- By Company Type: Tier 1: 40%, Tier 2: 25%, Tier 3: 35%
- By Designation: C Level: 35%, Director Level: 30%, Others: 35%
- By Region: North America: 25%, Europe: 20%, Asia Pacific: 45%, Middle East & Africa: 5%, and South America: 5%.
Companies Covered: ArcelorMittal (Luxembourg), Doosan Corporation (South Korea), Kobe Steel, Ltd., (Japan), Nucor Corporation (US), Isgec Heavy Engineering Ltd. (India), Georg Fischer Ltd. (Switzerland), The Japan Steel Works, Ltd. (Japan), Nelcast Limited (India), Ferralloy, Inc. (US), POSCO (South Korea) are some key players in steel casting Market.
Research Coverage
The market study covers the steel casting market across various segments. It aims to estimate the market size and the growth potential of this market across different segments based on type, process, formulation, application, and region. The study also includes an in-depth competitive analysis of key players in the market, their company profiles, key observations related to their products and business offerings, recent developments undertaken by them, and key growth strategies adopted by them to improve their position in the steel casting market.
Key Benefits of Buying the Report
The report is expected to help the market leaders/new entrants in this market share the closest approximations of the revenue numbers of the overall steel casting market and its segments and sub-segments. This report is projected to help stakeholders understand the competitive landscape of the market, gain insights to improve the position of their businesses and plan suitable go-to-market strategies. The report also aims to help stakeholders understand the pulse of the market and provides them with information on the key market drivers, challenges, and opportunities.
The report provides insights on the following pointers:
- Analysis of key drivers (growing demand from end-use applications such as railways, automotive, and renewable energy), restraints (High initial costs), opportunities (Technological advancements in metal casting and Increasing demand from emerging markets), and challenges (Supply chain disruptions) influencing the growth of the steel casting market.
- Product Development/Innovation: Detailed insights on upcoming technologies, research & development activities, and new product & service launches in the steel casting market
- Market Development: Comprehensive information about profitable markets – the report analyses the steel casting market across varied regions
- Market Diversification: Exhaustive information about new products & services, untapped geographies, recent developments, and investments in the steel casting market
- Competitive Assessment: In-depth assessment of market shares, growth strategies, and service offerings of leading players like as ArcelorMittal (Luxembourg), Doosan Corporation (South Korea), Kobe Steel, Ltd., (Japan), Nucor Corporation (US), Isgec Heavy Engineering Ltd. (India), and Georg Fischer Ltd. (Switzerland), The Japan Steel Works, Ltd. (Japan), Nelcast Limited (India), Ferralloy, Inc. (US), POSCO (South Korea) and others in the steel casting market. The report also helps stakeholders understand the pulse of the steel casting market and provides them with information on key market drivers, restraints, challenges, and opportunities.
1 INTRODUCTION
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 STEEL CASTING MARKET SEGMENTATION AND REGIONAL SCOPE
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of interviews with experts
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 FACTOR ANALYSIS
2.5 RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.7 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN STEEL CASTING MARKET
4.2 STEEL CASTING MARKET, BY TYPE
4.3 STEEL CASTING MARKET, BY PROCESS
4.4 STEEL CASTING MARKET, BY FORMULATION
4.5 STEEL CASTING MARKET, BY APPLICATION
4.6 ASIA PACIFIC STEEL CASTING MARKET, BY COUNTRY AND APPLICATION
4.7 STEEL CASTING MARKET, BY KEY COUNTRIES
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growth of railway networks
5.2.1.2 Growth of renewable energy industry
5.2.1.3 Rise of electric vehicles and overall growth of automotive industry
5.2.1.4 Rapid industrialization and infrastructure development
5.2.2 RESTRAINTS
5.2.2.1 High initial costs
5.2.2.2 Shift to lightweight alternatives
5.2.3 OPPORTUNITIES
5.2.3.1 Technological advancements in metal casting
5.2.3.2 Customization demand
5.2.4 CHALLENGES
5.2.4.1 Supply chain disruptions
5.2.4.2 Achieving defect-free steel casting
5.3 PORTER’S FIVE FORCES’ ANALYSIS
5.3.1 THREAT OF NEW ENTRANTS
5.3.2 THREAT OF SUBSTITUTES
5.3.3 BARGAINING POWER OF SUPPLIERS
5.3.4 BARGAINING POWER OF BUYERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
6 INDUSTRY TRENDS
6.1 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
6.2 PRICING ANALYSIS
6.2.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE
6.2.2 AVERAGE SELLING PRICE TREND, BY REGION
6.3 VALUE CHAIN ANALYSIS
6.4 ECOSYSTEM ANALYSIS
6.5 STEEL CASTING FOUNDRIES IN 2023, BY COUNTRY
6.6 TECHNOLOGY ANALYSIS
6.6.1 KEY TECHNOLOGIES
6.6.1.1 3D printing for mold making
6.6.1.2 Vacuum casting
6.6.1.3 Electroslag remelting
6.6.2 COMPLEMENTARY TECHNOLOGIES
6.6.2.1 Advanced heat treatment processes
6.6.2.2 Non-destructive testing
6.6.3 ADJACENT TECHNOLOGIES
6.6.3.1 Electric arc furnace to meet sustainability requirements
6.6.3.2 Green sand casting to meet sustainability requirements
6.6.4 EFFECT OF SUSTAINABILITY ON CASTING SUPPLIERS
6.6.4.1 Embracing recycling for sustainability in steel casting industry
6.6.4.2 Reduction of waste
6.6.4.3 Use of bio-based binders
6.6.4.4 Embracing digital innovation for sustainability in foundry processes
6.6.4.5 Reducing water consumption
6.6.4.6 Enhancing melting efficiency for sustainability in foundry processes
6.6.4.7 Energy saving/ efficient designs by company players
6.7 IMPACT OF GENERATIVE AI ON STEEL CASTING MARKET
6.8 PATENT ANALYSIS
6.9 TRADE ANALYSIS
6.9.1 EXPORT DATA RELATED TO HS CODE 7325
6.9.2 IMPORT DATA RELATED TO HS CODE 7325
6.10 KEY CONFERENCES AND EVENTS, 2025
6.11 REGULATORY LANDSCAPE
6.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
6.11.2 REGULATORY FRAMEWORK
6.12 KEY STAKEHOLDERS AND BUYING CRITERIA
6.12.1 KEY STAKEHOLDERS IN BUYING PROCESS
6.12.2 BUYING CRITERIA
6.13 CASE STUDY ANALYSIS
6.13.1 STEEL CASTING ANALYSIS BY COMPASS ANVIL
6.13.2 WORLD'S LARGEST STEEL CASTING BY SHEFFIELD FORGEMASTERS
6.13.3 STEEL CASTING SUPPORTING MASS TIMBER BY CAST CONNEX
6.14 MACROECONOMIC OUTLOOK
6.14.1 INTRODUCTION
6.14.2 GDP TRENDS AND FORECASTS
6.14.3 GROWING POPULATION AND URBANIZATION
6.15 INVESTMENT AND FUNDING SCENARIO
7 STEEL CASTING MARKET, BY TYPE
7.1 INTRODUCTION
7.2 CARBON STEEL CASTING
7.2.1 ADAPTABILITY AND AFFORDABILITY OF CARBON STEEL TO DRIVE DEMAND
7.3 LOW-ALLOY STEEL CASTING
7.3.1 ENHANCED PERFORMANCE UNDER EXTREME CONDITIONS WITH SUPERIOR TOUGHNESS AND DURABILITY TO DRIVE DEMAND
7.4 HIGH-ALLOY STEEL CASTING
7.4.1 CORROSION RESISTANCE AND MECHANICAL STRENGTH FOR DEMANDING ENVIRONMENTS TO DRIVE DEMAND
7.5 OTHER TYPES
8 STEEL CASTING MARKET, BY PROCESS
8.1 INTRODUCTION
8.2 SAND CASTING
8.2.1 WIDELY USED PROCESS IN STEEL CASTING
8.3 INVESTMENT CASTING
8.3.1 HIGHLY PRECISE PROCESS USED FOR STEEL CASTING
8.4 DIE CASTING
8.4.1 MOST EFFICIENT PROCESS FOR MASS PRODUCTION
8.5 OTHER PROCESSES
9 STEEL CASTING MARKET, BY FORMULATION
9.1 INTRODUCTION
9.2 SOLVENT BASED
9.2.1 SUPERIOR PERFORMANCE IN DELIVERING SMOOTH, UNIFORM COATINGS
9.3 SOLVENTLESS
9.3.1 SUSTAINABLE SOLUTION WHILE MAINTAINING HIGH-PERFORMANCE CHARACTERISTICS
9.4 EMULSION
9.4.1 WATER AS CARRIER MEDIUM REDUCES TOXICITY
10 STEEL CASTING MARKET, BY APPLICATION
10.1 INTRODUCTION
10.2 POWER GENERATION
10.2.1 STEEL CASTING INTEGRAL TO PRODUCTION OF HIGH-PERFORMANCE COMPONENTS FOR TRANSMISSION AND DISTRIBUTION OF ELECTRICITY
10.3 RAIL & TRANSIT
10.3.1 STEEL CASTING INTEGRAL TO EFFICIENT PRODUCTION OF COMPONENTS ESSENTIAL FOR STRUCTURE AND FUNCTIONALITY OF TRAINS
10.4 MINING
10.4.1 WEAR-RESISTANT PROPERTIES OF STEEL CASTING CRUCIAL FOR MINING OPERATIONS
10.5 CONSTRUCTION MACHINERY
10.5.1 USE OF STEEL CASTING TO MAINTAIN PERFORMANCE IN HEAVY-DUTY APPLICATIONS TO DRIVE MARKET
10.6 OIL & GAS
10.6.1 RELIANCE ON STEEL CASTING TO PRODUCE ESSENTIAL EQUIPMENT FOR OILFIELD OPERATIONS TO DRIVE MARKET
10.7 AEROSPACE & DEFENSE
10.7.1 MANUFACTURING OF COMPLEX, HIGH-PRECISION PARTS THROUGH CASTING TECHNOLOGY TO DRIVE INNOVATION IN THIS INDUSTRY
10.8 SHIPBUILDING
10.8.1 STEEL CASTING ESSENTIAL FOR STRUCTURAL INTEGRITY AND OPERATIONAL PERFORMANCE OF SHIPS
10.9 OTHER APPLICATIONS
11 STEEL CASTING MARKET, BY REGION
11.1 INTRODUCTION
11.2 ASIA PACIFIC
11.2.1 CHINA
11.2.1.1 Rapid industrialization and technological advancements to drive market
11.2.2 INDIA
11.2.2.1 Growing demand from automotive and construction machinery industries to drive market
11.2.3 JAPAN
11.2.3.1 Increasing demand for clean energy and infrastructure growth to drive market
11.2.4 SOUTH KOREA
11.2.4.1 Growth in shipbuilding and power generation industries to drive market
11.2.5 REST OF ASIA PACIFIC
11.3 NORTH AMERICA
11.3.1 US
11.3.1.1 Investment in rail infrastructure and mining expansion to drive market
11.3.2 CANADA
11.3.2.1 Rising demand from power generation, automotive, and construction machinery industries to drive market
11.3.3 MEXICO
11.3.3.1 Rising investments in mining industry and infrastructure development to drive market
11.4 EUROPE
11.4.1 GERMANY
11.4.1.1 Rail modernization and infrastructure development to drive market
11.4.2 UK
11.4.2.1 Rising renewable energy projects and advanced manufacturing initiatives to drive market
11.4.3 FRANCE
11.4.3.1 Aerospace industry growth and renewable energy expansion to drive market
11.4.4 RUSSIA
11.4.4.1 Increased defense spending and expanding mining and infrastructure projects to drive market
11.4.5 SPAIN
11.4.5.1 Automotive industry growth and infrastructure expansion to drive market
11.4.6 TURKEY
11.4.6.1 Expanding machinery exports and shipbuilding surge to drive market
11.4.7 ITALY
11.4.7.1 Rising demand from food, retail, and agriculture industries to drive market
11.4.8 REST OF EUROPE
11.5 MIDDLE EAST & AFRICA
11.5.1 GCC COUNTRIES
11.5.1.1 Saudi Arabia
11.5.1.1.1 Trillion-dollar infrastructure pipeline and industrial growth to drive market
11.5.1.2 UAE
11.5.1.2.1 Expanding oil and gas reserves and production capacity to drive market
11.5.1.3 Rest of GCC Countries
11.5.2 SOUTH AFRICA
11.5.2.1 Vast mineral reserves to drive demand for steel casting in mining and industrial sectors
11.5.3 REST OF MIDDLE EAST & AFRICA
11.6 SOUTH AMERICA
11.6.1 BRAZIL
11.6.1.1 Rising infrastructure and energy investments to drive market
11.6.2 ARGENTINA
11.6.2.1 Rising foreign investment in mining industry and expanding agricultural machinery industry to drive market
11.6.3 REST OF SOUTH AMERICA
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 KEY PLAYER STRATEGIES
12.3 MARKET SHARE ANALYSIS, 2023
12.3.1 MARKET RANKING ANALYSIS, 2023
12.4 REVENUE ANALYSIS, 2019–2023
12.5 COMPANY VALUATION AND FINANCIAL METRICS
12.6 PRODUCT/BRAND COMPARISON ANALYSIS
12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
12.7.1 STARS
12.7.2 EMERGING LEADERS
12.7.3 PERVASIVE PLAYERS
12.7.4 PARTICIPANTS
12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
12.7.5.1 Company footprint
12.7.5.2 Type footprint
12.7.5.3 Application footprint
12.7.5.4 Process footprint
12.7.5.5 Region Footprint
12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
12.8.1 PROGRESSIVE COMPANIES
12.8.2 RESPONSIVE COMPANIES
12.8.3 DYNAMIC COMPANIES
12.8.4 STARTING BLOCKS
12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
12.9 COMPETITIVE SCENARIO
12.9.1 PRODUCT LAUNCHES
12.9.2 DEALS
12.9.3 EXPANSIONS
12.9.4 OTHER DEVELOPMENTS
13 COMPANY PROFILES
13.1 KEY PLAYERS
13.1.1 ARCELORMITTAL
13.1.1.1 Business overview
13.1.1.2 Products/Solutions/Services offered
13.1.1.3 Recent developments
13.1.1.3.1 Product launches
13.1.1.3.2 Deals
13.1.1.3.3 Expansions
13.1.1.4 MnM view
13.1.1.4.1 Right to win
13.1.1.4.2 Strategic choices
13.1.1.4.3 Weaknesses and competitive threats
13.1.2 PRECISION CASTPARTS CORP.
13.1.2.1 Business overview
13.1.2.2 Products/Solutions/Services offered
13.1.2.3 MnM view
13.1.2.3.1 Right to win
13.1.2.3.2 Strategic choices
13.1.2.3.3 Weaknesses and competitive threats
13.1.3 DOOSAN CORPORATION
13.1.3.1 Business overview
13.1.3.2 Products/Solutions/Services offered
13.1.3.3 Recent developments
13.1.3.3.1 Deals
13.1.3.3.2 Other developments
13.1.3.4 MnM view
13.1.3.4.1 Right to win
13.1.3.4.2 Strategic choices
13.1.3.4.3 Weaknesses and competitive threats
13.1.4 KOBE STEEL, LTD.
13.1.4.1 Business overview
13.1.4.2 Products/Solutions/Services offered
13.1.4.3 Recent developments
13.1.4.3.1 Product Launches
13.1.4.3.2 Deals
13.1.4.4 MnM view
13.1.4.4.1 Right to win
13.1.4.4.2 Strategic choices
13.1.4.4.3 Weaknesses and competitive threats
13.1.5 NUCOR CORPORATION
13.1.5.1 Business overview
13.1.5.2 Products/Solutions/Services Offered
13.1.5.3 Recent developments
13.1.5.3.1 Deals
13.1.5.3.2 Expansions
13.1.5.3.3 Other developments
13.1.5.4 MnM view
13.1.5.4.1 Right to win
13.1.5.4.2 Strategic choices
13.1.5.4.3 Weakness and competitive threats
13.1.6 GEORG FISCHER LTD.
13.1.6.1 Business overview
13.1.6.2 Products/Solutions/Services offered
13.1.6.3 Recent developments
13.1.6.3.1 Product Launches
13.1.6.3.2 Expansions
13.1.6.4 MnM view
13.1.7 ISGEC HEAVY ENGINEERING LTD.
13.1.7.1 Business overview
13.1.7.2 Products/Solutions/Services offered
13.1.7.3 Recent developments
13.1.7.3.1 Other developments
13.1.7.4 MnM view
13.1.8 THE JAPAN STEEL WORKS, LTD.
13.1.8.1 Business overview
13.1.8.2 Products/Solutions/Services offered
13.1.8.3 MnM view
13.1.9 NELCAST LIMITED
13.1.9.1 Business overview
13.1.9.2 Products/Solutions/Services offered
13.1.9.3 MnM view
13.1.10 FERRALLOY, INC.
13.1.10.1 Business overview
13.1.10.2 Products/Solutions/Services offered
13.1.10.3 MnM view
13.1.11 POSCO
13.1.11.1 Business overview
13.1.11.2 Products/Solutions/Services offered
13.1.11.3 MnM view
13.2 OTHER PLAYERS
13.2.1 HITACHI POWER SOLUTIONS CO., LTD.
13.2.2 IMPRO PRECISION INDUSTRIES LIMITED
13.2.3 WAUPACA FOUNDRY, INC.
13.2.4 PEEKAY STEEL CASTINGS PVT LTD.
13.2.5 AMSTED RAIL
13.2.6 GUJARAT TECH CAST PVT. LTD.
13.2.7 LIAONING BORUI MACHINERY CO., LTD.
13.2.8 DANDONG FUDING ENGINEERING MACHINERY CO., LTD.
13.2.9 COLUMBIA STEEL CAST PRODUCTS LLC
13.2.10 HARRISON STEEL CASTINGS COMPANY
13.2.11 METALTEK
13.2.12 SIGNICAST
13.2.13 STAINLESS FOUNDRY & ENGINEERING
13.2.14 MAYNARD STEEL CASTING COMPANY
13.2.15 SIGMA ENGINEERED SOLUTIONS
13.2.16 MILWAUKEE PRECISION CASTING
13.2.17 GOODWIN STEEL CASTINGS LIMITED
13.2.18 FORTUNE FOUNDRIES PVT LTD.
13.2.19 CALMET
14 ADJACENT & RELATED MARKET
14.1 INTRODUCTION
14.2 IRON & STEEL MARKET
14.2.1 MARKET DEFINITION
14.2.2 MARKET OVERVIEW
14.2.3 IRON & STEEL MARKET, BY TYPE
14.2.4 IRON & STEEL MARKET, BY PRODUCTION TECHNOLOGY
14.2.5 IRON & STEEL MARKET, BY END-USE INDUSTRY
14.2.6 IRON & STEEL MARKET, BY REGION
15 APPENDIX
15.1 DISCUSSION GUIDE
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 CUSTOMIZATION OPTIONS
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS
1.1 STUDY OBJECTIVES
1.2 MARKET DEFINITION
1.3 STUDY SCOPE
1.3.1 STEEL CASTING MARKET SEGMENTATION AND REGIONAL SCOPE
1.3.2 INCLUSIONS AND EXCLUSIONS
1.3.3 YEARS CONSIDERED
1.4 CURRENCY
1.5 UNIT CONSIDERED
1.6 STAKEHOLDERS
2 RESEARCH METHODOLOGY
2.1 RESEARCH DATA
2.1.1 SECONDARY DATA
2.1.1.1 List of key secondary sources
2.1.1.2 Key data from secondary sources
2.1.2 PRIMARY DATA
2.1.2.1 Key data from primary sources
2.1.2.2 Key industry insights
2.1.2.3 Breakdown of interviews with experts
2.2 MARKET SIZE ESTIMATION
2.2.1 BOTTOM-UP APPROACH
2.2.2 TOP-DOWN APPROACH
2.3 DATA TRIANGULATION
2.4 FACTOR ANALYSIS
2.5 RESEARCH ASSUMPTIONS
2.6 RESEARCH LIMITATIONS
2.7 RISK ASSESSMENT
3 EXECUTIVE SUMMARY
4 PREMIUM INSIGHTS
4.1 ATTRACTIVE OPPORTUNITIES FOR PLAYERS IN STEEL CASTING MARKET
4.2 STEEL CASTING MARKET, BY TYPE
4.3 STEEL CASTING MARKET, BY PROCESS
4.4 STEEL CASTING MARKET, BY FORMULATION
4.5 STEEL CASTING MARKET, BY APPLICATION
4.6 ASIA PACIFIC STEEL CASTING MARKET, BY COUNTRY AND APPLICATION
4.7 STEEL CASTING MARKET, BY KEY COUNTRIES
5 MARKET OVERVIEW
5.1 INTRODUCTION
5.2 MARKET DYNAMICS
5.2.1 DRIVERS
5.2.1.1 Growth of railway networks
5.2.1.2 Growth of renewable energy industry
5.2.1.3 Rise of electric vehicles and overall growth of automotive industry
5.2.1.4 Rapid industrialization and infrastructure development
5.2.2 RESTRAINTS
5.2.2.1 High initial costs
5.2.2.2 Shift to lightweight alternatives
5.2.3 OPPORTUNITIES
5.2.3.1 Technological advancements in metal casting
5.2.3.2 Customization demand
5.2.4 CHALLENGES
5.2.4.1 Supply chain disruptions
5.2.4.2 Achieving defect-free steel casting
5.3 PORTER’S FIVE FORCES’ ANALYSIS
5.3.1 THREAT OF NEW ENTRANTS
5.3.2 THREAT OF SUBSTITUTES
5.3.3 BARGAINING POWER OF SUPPLIERS
5.3.4 BARGAINING POWER OF BUYERS
5.3.5 INTENSITY OF COMPETITIVE RIVALRY
6 INDUSTRY TRENDS
6.1 TRENDS/DISRUPTIONS IMPACTING CUSTOMER BUSINESS
6.2 PRICING ANALYSIS
6.2.1 AVERAGE SELLING PRICE TREND OF KEY PLAYERS, BY TYPE
6.2.2 AVERAGE SELLING PRICE TREND, BY REGION
6.3 VALUE CHAIN ANALYSIS
6.4 ECOSYSTEM ANALYSIS
6.5 STEEL CASTING FOUNDRIES IN 2023, BY COUNTRY
6.6 TECHNOLOGY ANALYSIS
6.6.1 KEY TECHNOLOGIES
6.6.1.1 3D printing for mold making
6.6.1.2 Vacuum casting
6.6.1.3 Electroslag remelting
6.6.2 COMPLEMENTARY TECHNOLOGIES
6.6.2.1 Advanced heat treatment processes
6.6.2.2 Non-destructive testing
6.6.3 ADJACENT TECHNOLOGIES
6.6.3.1 Electric arc furnace to meet sustainability requirements
6.6.3.2 Green sand casting to meet sustainability requirements
6.6.4 EFFECT OF SUSTAINABILITY ON CASTING SUPPLIERS
6.6.4.1 Embracing recycling for sustainability in steel casting industry
6.6.4.2 Reduction of waste
6.6.4.3 Use of bio-based binders
6.6.4.4 Embracing digital innovation for sustainability in foundry processes
6.6.4.5 Reducing water consumption
6.6.4.6 Enhancing melting efficiency for sustainability in foundry processes
6.6.4.7 Energy saving/ efficient designs by company players
6.7 IMPACT OF GENERATIVE AI ON STEEL CASTING MARKET
6.8 PATENT ANALYSIS
6.9 TRADE ANALYSIS
6.9.1 EXPORT DATA RELATED TO HS CODE 7325
6.9.2 IMPORT DATA RELATED TO HS CODE 7325
6.10 KEY CONFERENCES AND EVENTS, 2025
6.11 REGULATORY LANDSCAPE
6.11.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS
6.11.2 REGULATORY FRAMEWORK
6.12 KEY STAKEHOLDERS AND BUYING CRITERIA
6.12.1 KEY STAKEHOLDERS IN BUYING PROCESS
6.12.2 BUYING CRITERIA
6.13 CASE STUDY ANALYSIS
6.13.1 STEEL CASTING ANALYSIS BY COMPASS ANVIL
6.13.2 WORLD'S LARGEST STEEL CASTING BY SHEFFIELD FORGEMASTERS
6.13.3 STEEL CASTING SUPPORTING MASS TIMBER BY CAST CONNEX
6.14 MACROECONOMIC OUTLOOK
6.14.1 INTRODUCTION
6.14.2 GDP TRENDS AND FORECASTS
6.14.3 GROWING POPULATION AND URBANIZATION
6.15 INVESTMENT AND FUNDING SCENARIO
7 STEEL CASTING MARKET, BY TYPE
7.1 INTRODUCTION
7.2 CARBON STEEL CASTING
7.2.1 ADAPTABILITY AND AFFORDABILITY OF CARBON STEEL TO DRIVE DEMAND
7.3 LOW-ALLOY STEEL CASTING
7.3.1 ENHANCED PERFORMANCE UNDER EXTREME CONDITIONS WITH SUPERIOR TOUGHNESS AND DURABILITY TO DRIVE DEMAND
7.4 HIGH-ALLOY STEEL CASTING
7.4.1 CORROSION RESISTANCE AND MECHANICAL STRENGTH FOR DEMANDING ENVIRONMENTS TO DRIVE DEMAND
7.5 OTHER TYPES
8 STEEL CASTING MARKET, BY PROCESS
8.1 INTRODUCTION
8.2 SAND CASTING
8.2.1 WIDELY USED PROCESS IN STEEL CASTING
8.3 INVESTMENT CASTING
8.3.1 HIGHLY PRECISE PROCESS USED FOR STEEL CASTING
8.4 DIE CASTING
8.4.1 MOST EFFICIENT PROCESS FOR MASS PRODUCTION
8.5 OTHER PROCESSES
9 STEEL CASTING MARKET, BY FORMULATION
9.1 INTRODUCTION
9.2 SOLVENT BASED
9.2.1 SUPERIOR PERFORMANCE IN DELIVERING SMOOTH, UNIFORM COATINGS
9.3 SOLVENTLESS
9.3.1 SUSTAINABLE SOLUTION WHILE MAINTAINING HIGH-PERFORMANCE CHARACTERISTICS
9.4 EMULSION
9.4.1 WATER AS CARRIER MEDIUM REDUCES TOXICITY
10 STEEL CASTING MARKET, BY APPLICATION
10.1 INTRODUCTION
10.2 POWER GENERATION
10.2.1 STEEL CASTING INTEGRAL TO PRODUCTION OF HIGH-PERFORMANCE COMPONENTS FOR TRANSMISSION AND DISTRIBUTION OF ELECTRICITY
10.3 RAIL & TRANSIT
10.3.1 STEEL CASTING INTEGRAL TO EFFICIENT PRODUCTION OF COMPONENTS ESSENTIAL FOR STRUCTURE AND FUNCTIONALITY OF TRAINS
10.4 MINING
10.4.1 WEAR-RESISTANT PROPERTIES OF STEEL CASTING CRUCIAL FOR MINING OPERATIONS
10.5 CONSTRUCTION MACHINERY
10.5.1 USE OF STEEL CASTING TO MAINTAIN PERFORMANCE IN HEAVY-DUTY APPLICATIONS TO DRIVE MARKET
10.6 OIL & GAS
10.6.1 RELIANCE ON STEEL CASTING TO PRODUCE ESSENTIAL EQUIPMENT FOR OILFIELD OPERATIONS TO DRIVE MARKET
10.7 AEROSPACE & DEFENSE
10.7.1 MANUFACTURING OF COMPLEX, HIGH-PRECISION PARTS THROUGH CASTING TECHNOLOGY TO DRIVE INNOVATION IN THIS INDUSTRY
10.8 SHIPBUILDING
10.8.1 STEEL CASTING ESSENTIAL FOR STRUCTURAL INTEGRITY AND OPERATIONAL PERFORMANCE OF SHIPS
10.9 OTHER APPLICATIONS
11 STEEL CASTING MARKET, BY REGION
11.1 INTRODUCTION
11.2 ASIA PACIFIC
11.2.1 CHINA
11.2.1.1 Rapid industrialization and technological advancements to drive market
11.2.2 INDIA
11.2.2.1 Growing demand from automotive and construction machinery industries to drive market
11.2.3 JAPAN
11.2.3.1 Increasing demand for clean energy and infrastructure growth to drive market
11.2.4 SOUTH KOREA
11.2.4.1 Growth in shipbuilding and power generation industries to drive market
11.2.5 REST OF ASIA PACIFIC
11.3 NORTH AMERICA
11.3.1 US
11.3.1.1 Investment in rail infrastructure and mining expansion to drive market
11.3.2 CANADA
11.3.2.1 Rising demand from power generation, automotive, and construction machinery industries to drive market
11.3.3 MEXICO
11.3.3.1 Rising investments in mining industry and infrastructure development to drive market
11.4 EUROPE
11.4.1 GERMANY
11.4.1.1 Rail modernization and infrastructure development to drive market
11.4.2 UK
11.4.2.1 Rising renewable energy projects and advanced manufacturing initiatives to drive market
11.4.3 FRANCE
11.4.3.1 Aerospace industry growth and renewable energy expansion to drive market
11.4.4 RUSSIA
11.4.4.1 Increased defense spending and expanding mining and infrastructure projects to drive market
11.4.5 SPAIN
11.4.5.1 Automotive industry growth and infrastructure expansion to drive market
11.4.6 TURKEY
11.4.6.1 Expanding machinery exports and shipbuilding surge to drive market
11.4.7 ITALY
11.4.7.1 Rising demand from food, retail, and agriculture industries to drive market
11.4.8 REST OF EUROPE
11.5 MIDDLE EAST & AFRICA
11.5.1 GCC COUNTRIES
11.5.1.1 Saudi Arabia
11.5.1.1.1 Trillion-dollar infrastructure pipeline and industrial growth to drive market
11.5.1.2 UAE
11.5.1.2.1 Expanding oil and gas reserves and production capacity to drive market
11.5.1.3 Rest of GCC Countries
11.5.2 SOUTH AFRICA
11.5.2.1 Vast mineral reserves to drive demand for steel casting in mining and industrial sectors
11.5.3 REST OF MIDDLE EAST & AFRICA
11.6 SOUTH AMERICA
11.6.1 BRAZIL
11.6.1.1 Rising infrastructure and energy investments to drive market
11.6.2 ARGENTINA
11.6.2.1 Rising foreign investment in mining industry and expanding agricultural machinery industry to drive market
11.6.3 REST OF SOUTH AMERICA
12 COMPETITIVE LANDSCAPE
12.1 OVERVIEW
12.2 KEY PLAYER STRATEGIES
12.3 MARKET SHARE ANALYSIS, 2023
12.3.1 MARKET RANKING ANALYSIS, 2023
12.4 REVENUE ANALYSIS, 2019–2023
12.5 COMPANY VALUATION AND FINANCIAL METRICS
12.6 PRODUCT/BRAND COMPARISON ANALYSIS
12.7 COMPANY EVALUATION MATRIX: KEY PLAYERS, 2023
12.7.1 STARS
12.7.2 EMERGING LEADERS
12.7.3 PERVASIVE PLAYERS
12.7.4 PARTICIPANTS
12.7.5 COMPANY FOOTPRINT: KEY PLAYERS, 2023
12.7.5.1 Company footprint
12.7.5.2 Type footprint
12.7.5.3 Application footprint
12.7.5.4 Process footprint
12.7.5.5 Region Footprint
12.8 COMPANY EVALUATION MATRIX: STARTUPS/SMES, 2023
12.8.1 PROGRESSIVE COMPANIES
12.8.2 RESPONSIVE COMPANIES
12.8.3 DYNAMIC COMPANIES
12.8.4 STARTING BLOCKS
12.8.5 COMPETITIVE BENCHMARKING: STARTUPS/SMES, 2023
12.9 COMPETITIVE SCENARIO
12.9.1 PRODUCT LAUNCHES
12.9.2 DEALS
12.9.3 EXPANSIONS
12.9.4 OTHER DEVELOPMENTS
13 COMPANY PROFILES
13.1 KEY PLAYERS
13.1.1 ARCELORMITTAL
13.1.1.1 Business overview
13.1.1.2 Products/Solutions/Services offered
13.1.1.3 Recent developments
13.1.1.3.1 Product launches
13.1.1.3.2 Deals
13.1.1.3.3 Expansions
13.1.1.4 MnM view
13.1.1.4.1 Right to win
13.1.1.4.2 Strategic choices
13.1.1.4.3 Weaknesses and competitive threats
13.1.2 PRECISION CASTPARTS CORP.
13.1.2.1 Business overview
13.1.2.2 Products/Solutions/Services offered
13.1.2.3 MnM view
13.1.2.3.1 Right to win
13.1.2.3.2 Strategic choices
13.1.2.3.3 Weaknesses and competitive threats
13.1.3 DOOSAN CORPORATION
13.1.3.1 Business overview
13.1.3.2 Products/Solutions/Services offered
13.1.3.3 Recent developments
13.1.3.3.1 Deals
13.1.3.3.2 Other developments
13.1.3.4 MnM view
13.1.3.4.1 Right to win
13.1.3.4.2 Strategic choices
13.1.3.4.3 Weaknesses and competitive threats
13.1.4 KOBE STEEL, LTD.
13.1.4.1 Business overview
13.1.4.2 Products/Solutions/Services offered
13.1.4.3 Recent developments
13.1.4.3.1 Product Launches
13.1.4.3.2 Deals
13.1.4.4 MnM view
13.1.4.4.1 Right to win
13.1.4.4.2 Strategic choices
13.1.4.4.3 Weaknesses and competitive threats
13.1.5 NUCOR CORPORATION
13.1.5.1 Business overview
13.1.5.2 Products/Solutions/Services Offered
13.1.5.3 Recent developments
13.1.5.3.1 Deals
13.1.5.3.2 Expansions
13.1.5.3.3 Other developments
13.1.5.4 MnM view
13.1.5.4.1 Right to win
13.1.5.4.2 Strategic choices
13.1.5.4.3 Weakness and competitive threats
13.1.6 GEORG FISCHER LTD.
13.1.6.1 Business overview
13.1.6.2 Products/Solutions/Services offered
13.1.6.3 Recent developments
13.1.6.3.1 Product Launches
13.1.6.3.2 Expansions
13.1.6.4 MnM view
13.1.7 ISGEC HEAVY ENGINEERING LTD.
13.1.7.1 Business overview
13.1.7.2 Products/Solutions/Services offered
13.1.7.3 Recent developments
13.1.7.3.1 Other developments
13.1.7.4 MnM view
13.1.8 THE JAPAN STEEL WORKS, LTD.
13.1.8.1 Business overview
13.1.8.2 Products/Solutions/Services offered
13.1.8.3 MnM view
13.1.9 NELCAST LIMITED
13.1.9.1 Business overview
13.1.9.2 Products/Solutions/Services offered
13.1.9.3 MnM view
13.1.10 FERRALLOY, INC.
13.1.10.1 Business overview
13.1.10.2 Products/Solutions/Services offered
13.1.10.3 MnM view
13.1.11 POSCO
13.1.11.1 Business overview
13.1.11.2 Products/Solutions/Services offered
13.1.11.3 MnM view
13.2 OTHER PLAYERS
13.2.1 HITACHI POWER SOLUTIONS CO., LTD.
13.2.2 IMPRO PRECISION INDUSTRIES LIMITED
13.2.3 WAUPACA FOUNDRY, INC.
13.2.4 PEEKAY STEEL CASTINGS PVT LTD.
13.2.5 AMSTED RAIL
13.2.6 GUJARAT TECH CAST PVT. LTD.
13.2.7 LIAONING BORUI MACHINERY CO., LTD.
13.2.8 DANDONG FUDING ENGINEERING MACHINERY CO., LTD.
13.2.9 COLUMBIA STEEL CAST PRODUCTS LLC
13.2.10 HARRISON STEEL CASTINGS COMPANY
13.2.11 METALTEK
13.2.12 SIGNICAST
13.2.13 STAINLESS FOUNDRY & ENGINEERING
13.2.14 MAYNARD STEEL CASTING COMPANY
13.2.15 SIGMA ENGINEERED SOLUTIONS
13.2.16 MILWAUKEE PRECISION CASTING
13.2.17 GOODWIN STEEL CASTINGS LIMITED
13.2.18 FORTUNE FOUNDRIES PVT LTD.
13.2.19 CALMET
14 ADJACENT & RELATED MARKET
14.1 INTRODUCTION
14.2 IRON & STEEL MARKET
14.2.1 MARKET DEFINITION
14.2.2 MARKET OVERVIEW
14.2.3 IRON & STEEL MARKET, BY TYPE
14.2.4 IRON & STEEL MARKET, BY PRODUCTION TECHNOLOGY
14.2.5 IRON & STEEL MARKET, BY END-USE INDUSTRY
14.2.6 IRON & STEEL MARKET, BY REGION
15 APPENDIX
15.1 DISCUSSION GUIDE
15.2 KNOWLEDGESTORE: MARKETSANDMARKETS’ SUBSCRIPTION PORTAL
15.3 CUSTOMIZATION OPTIONS
15.4 RELATED REPORTS
15.5 AUTHOR DETAILS
