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.
According to the new market research report “Steel Casting- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”, published by QYResearch, the global Steel Casting market size is projected to reach USD 88.4 billion by 2030, at a CAGR of 2.7% during the forecast period.
- Global Steel Casting MarketSize(US$ Million), 2019 VS 2024 VS 2030
Source: QYResearch, "Steel Casting- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
Increasing industrialization, particularly in emerging economies, drives demand for steel casting across sectors like automotive, construction, and infrastructure development. Futhermore, expansion in renewable energy projects and conventional power generation facilities fuels demand for steel castings used in turbines, generators, and related equipment.
Some regions are witnessing a trend towards reshoring manufacturing operations to reduce dependence on distant supply chains and mitigate geopolitical risks. Futhermore, Development of sustainable casting methods, including energy-efficient furnaces, recycling of materials, and reducing carbon emissions, is a growing trend.
- Global Steel Casting Top10Players Ranking and Market Share（Continually updated）
Source: QYResearch, "Steel Casting- Global Market Share and Ranking, Overall Sales and Demand Forecast 2024-2030”
According to QYResearch Top Players Research Center, the global key manufacturers of Steel Casting include Precision Castparts, Kobe Steel, Hitachi, Doosan Enerbility, ME Elecmetal, Amsted Rail, Anhui Yingliu, Signicast (Form Technologies Company), MetalTek International, Harrison Steel Casting, etc. In 2023, the global top five players had a share approximately 7.2% in terms of revenue.
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