India Hot Rolled & Cold Rolled Steel Market is Expected to Register a 7.77% CAGR Through 2030
Infrastructure Development & Urbanization and Growth
in the Automotive Industry are likely to propel the market during the forecast
period.
According to
TechSci Research report, “India Hot Rolled & Cold Rolled Steel Market
– By Region, Competition, Forecast and Opportunities, 2020-2030F”, India Hot
Rolled & Cold Rolled Steel Market was valued at USD 171.11 Billion in 2024
and is expected to reach USD 270.49 Billion by 2030 with a CAGR of 7.77% during
the forecast period.
The
rapid pace of infrastructure development and urbanization in India is one of
the primary drivers for the growth of the Hot Rolled and Cold Rolled Steel
market. With the government’s focus on "Smart Cities," "Housing
for All," and major projects such as the construction of highways,
railways, and airports, the demand for steel, especially Hot Rolled and Cold
Rolled Steel, has witnessed a significant rise.
Hot
Rolled Steel is commonly used in infrastructure projects due to its ability to
be molded into large structural sections like beams, girders, and plates. This
steel's strength and durability make it ideal for building bridges, roads, and
railway tracks. Hot Rolled Steel's affordability also makes it a preferred
choice for large-scale infrastructure projects, especially in developing
nations like India where cost-efficiency is crucial for large government-funded
projects.
On
the other hand, Cold Rolled Steel is often required for more precise and
aesthetically refined applications such as in the manufacturing of doors,
windows, and panels for buildings. The quality finish and smooth texture
provided by Cold Rolled Steel make it suitable for architectural structures and
for use in residential and commercial buildings. Additionally, as urbanization
leads to increased demand for appliances, automobiles, and consumer goods, Cold
Rolled Steel is also widely used in the production of these items due to its enhanced
surface finish and strength.
The
Indian government’s initiatives, like the National Infrastructure Pipeline
(NIP), which plans to invest significant funds into building new infrastructure
by 2024, have greatly contributed to the growing demand for both types of
steel. Moreover, as cities expand and require better urban planning, the demand
for durable materials such as steel continues to rise, driving the demand for
Hot Rolled and Cold Rolled Steel products in the market.
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Based
on Application, Construction held the largest market share in 2024. The construction sector is a dominant driver
of the India Hot Rolled and Cold Rolled Steel market due to the country's rapid
urbanization, population growth, and large-scale infrastructure projects. Steel
is an essential material in the construction industry because of its strength,
durability, and flexibility, making it a preferred choice for building
infrastructure such as highways, bridges, residential buildings, and industrial
facilities.
Hot
Rolled Steel plays a significant role in the construction sector due to its
cost-effectiveness and ability to be produced in large sections, such as beams,
columns, plates, and structural shapes. These properties make it ideal for
large-scale infrastructure projects like bridges, flyovers, and airports, where
strength and structural integrity are crucial. Additionally, its lower
production cost and ability to handle heavy loads make it the material of
choice for projects involving heavy-duty construction like commercial buildings
and warehouses.
Cold
Rolled Steel is also crucial in construction, particularly in applications that
require a smoother, more precise finish. It is used in roofing, wall panels,
and decorative elements of both residential and commercial buildings. Cold
Rolled Steel is valued for its smooth finish, higher tensile strength, and
precise dimensions, making it essential for projects where aesthetics,
durability, and exact measurements are critical.
The
Indian government's focus on infrastructure development, such as the
"Smart Cities" initiative and the National Infrastructure Pipeline
(NIP), has further accelerated demand for steel in construction. These projects
involve significant investments in residential housing, urban infrastructure,
and transportation, all of which require substantial quantities of steel.
Additionally, the rising middle class, urban migration, and increasing demand
for both affordable and luxury housing contribute to the growing demand for
both Hot Rolled and Cold Rolled Steel in the construction sector. As India
continues its infrastructure boom, the construction industry will remain the
leading consumer of steel, ensuring its dominance in the steel market.
Based on region,
North India is the
fastest-growing region in the India Hot Rolled and Cold Rolled Steel market due
to several key factors driving both demand and production in the region. Rapid
infrastructure development in states like Uttar Pradesh, Haryana, Punjab, and
Rajasthan is a major contributor. With the government’s focus on urbanization
and building smart cities, North India is witnessing significant investments in
construction projects, including roads, bridges, industrial parks, and
residential developments. Hot Rolled Steel, in particular, is heavily used in
these large-scale infrastructure projects due to its affordability and
suitability for structural applications.
The
automotive and manufacturing sectors in North India are growing rapidly,
especially in states like Haryana, which is home to a major automotive
manufacturing hub with companies like Maruti Suzuki and Hero MotoCorp. The
demand for Cold Rolled Steel is increasing in this sector as it is used in
automotive body panels, frames, and precision parts. The region’s manufacturing
strength is driving the need for higher quality steel products to meet both
domestic and international standards. Additionally, North India has access to
several key raw material sources, such as iron ore and coal, especially in
states like Jharkhand and Chhattisgarh. This reduces the dependency on imports
and makes steel production more cost-effective in the region, further fueling
growth.
The
strategic location of North India with strong transportation infrastructure,
including highways, railways, and ports, also facilitates the smooth movement
of steel products to both domestic and international markets. Furthermore, the
region's proximity to major markets in the Middle East and Southeast Asia
enhances export opportunities, providing an additional revenue stream for steel
producers.
Major companies
operating in the India Hot Rolled & Cold Rolled Steel Market are:
- 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
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“The India Hot Rolled & Cold Rolled
Steel market presents significant opportunities driven by robust demand across
key sectors such as infrastructure, automotive, construction, and
manufacturing. With rapid urbanization, government-led infrastructure projects,
and the push towards electric vehicles, there is increasing demand for
high-strength, lightweight, and sustainable steel products. Additionally, the
growing focus on advanced manufacturing technologies, such as automation and
green steel production, provides further growth prospects. India’s competitive
pricing, coupled with improving production capabilities and export potential,
positions the country as a leading player in the global steel market, offering
substantial market opportunities for steel manufacturers.”
said Mr. Karan Chechi, Research Director of TechSci Research, a research-based global management consulting firm.
“India Hot Rolled &
Cold Rolled Steel Market, By Product (Hot Rolled Steel,
Cold Rolled Steel), By Form (Steel Plate, Steel Coil, Flat, Others), By
Application (Automotive, Construction, Steel Pipe, Shipping, Machinery &
Equipment, Industrial, Others) By Region, Competition, Forecast &
Opportunities, 2020-2030F”,
has evaluated the future growth potential of India Hot Rolled & Cold Rolled
Steel Market and provides statistics & information on Market size,
structure and future Market growth. The report intends to provide cutting-edge Market
intelligence and help decision-makers make sound investment decisions., The
report also identifies and analyzes the emerging trends along with essential
drivers, challenges, and opportunities in the India Hot Rolled & Cold
Rolled Steel Market.
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