Europe Steel Market Forecast, Share Analysis, and Outlook Report 2025

Europe Steel Market Forecast by 2033

Market Size in 2024: USD 236.9 Billion
Market Forecast in 2033: USD 260.1 Billion
Market Growth Rate 2025-2033: 1.15%

The Europe steel market reached USD 236.9 Billion in 2024 and is projected to grow to USD 260.1 Billion by 2033, expanding at a CAGR of 1.15% during 2025-2033. This growth is supported by demand from the construction and automotive industries, infrastructure investments, and government-backed sustainability initiatives.

Growth Drivers of the European Steel Market

Sustainability in Steel Production with Green and Low-Carbon Solutions

European steel industry decarbonizes to transition from blast furnace-based steelmaking toward more efficient low-carbon alternatives like EAFs and reduces reliance on hydrogen. EU seeks climate and clean energy under the European Green Deal. These items combine with growing customer preference for sustainable steel types. They push steelmakers toward low-carbon technologies. Recycling and green energy aid steel production toward increasing importance. Green steel production will help lower Europe's carbon footprint and ensure the continent remains a sustainable steel production pioneer.

Embracing Digital Transformation with Industry 4.0

European steel industry decarbonizes to transition from blast furnace-based steelmaking toward more efficient low-carbon alternatives like EAFs and reduces reliance on hydrogen. EU seeks climate and clean energy under the European Green Deal. These items combine with growing customer preference for sustainable steel types. They push steelmakers toward low-carbon technologies. Recycling and green energy aid steel production toward increasing importance. Green steel production will help lower Europe's carbon footprint and ensure the continent remains a sustainable steel production pioneer.

Geopolitical Shifts and Trade Disruptions

Geopolitical tensions and trade disputes are increasing within the Europe steel market. Tariffs, sanctions, and supply chain disruptions have forced European steelmakers toward a reduction of external dependency and a build of stronger internal supply chains. For example, the European Commission has taken measures to safeguard the EU steel industry, like stricter import quotas. Procurement strategies are affected by global trade uncertainty too. Such measures also allow domestic steelmakers to produce more to ensure they remain viable long-term.

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Europe Steel Market Segmentation

Type Insights:

• Flat Steel
• Long Steel

Product Insights:

• Structural Steel
• Prestressing Steel
• Bright Steel
• Welding Wire and Rod
• Iron Steel Wire
• Ropes
• Braids

Application Insights:

• Building and Construction
• Electrical Appliances
• Metal Products
• Automotive
• Transportation
• Mechanical Equipment
• Domestic Appliances

Country Insights:

• Germany
• France
• United Kingdom
• Italy
• Spain
• Others

Leading Steel Companies in Europe:

• ArcelorMittal
• Thyssenkrupp AG
• Voestalpine AG
• SSAB AB
• Tata Steel Europe
• Salzgitter AG
• Acciaierie d’Italia
• Liberty Steel Group (GFG Alliance)
• Riva Group
• Celsa Group

Europe Steel Market News

• July 2025: The EU Commission began monitoring scrap exports, including steel, aluminum, and copper, to stabilize domestic supply.
• March 2025: The European Commission strengthened safeguard measures, reducing tariff-free steel import liberalization from 1% to 0.1%.
• 2025: Nickel price increases on the LME and SHFE supported higher stainless steel futures and spot prices in Europe.
• 2024: European steelmakers accelerated hydrogen-based steel production projects to align with EU decarbonization goals.
• Ongoing: Investments in Industry 4.0 technologies continue to enhance efficiency and competitiveness in the European steel sector.

Key highlights of the Report:

• Market Performance (2019-2024)
• Market Outlook (2025-2033)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Strategic Recommendations
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as part of the customization.

About Us:

IMARC Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provide a comprehensive suite of market entry and expansion services. IMARC offerings include thorough market assessment, feasibility studies, company incorporation assistance, factory setup support, regulatory approvals and licensing navigation, branding, marketing and sales strategies, competitive landscape and benchmarking analyses, pricing and cost research, and procurement research.