+
India's steel demand set to hit 190 MT by 2030
Steel

India's steel demand set to hit 190 MT by 2030

It is anticipated that India's steel demand will experience a Compound Annual Growth Rate (CAGR) of 7%, reaching the 190 Million Tonne (MT) level by 2030. The primary drivers for this demand are expected to be the construction and infrastructure sectors, contributing 60-65% to the overall demand, as stated by the market research firm. The report titled 'India?s Steel and Coking Coal Demand 2030' predicts that by 2030, India's steel demand is expected to touch 190 MT based on a 7% CAGR, and in an optimistic scenario, it could even reach 230 MT.

The demand surge will also be attributed to sectors such as auto and engineering, with key contributing factors being population growth, increasing urbanization, and various government initiatives. The report forecasts that by the end of 2023, the demand is likely to reach the 120 MT mark, while production is expected to be at 136 MT. The report further projects that India's crude steel production will reach 210 MT by 2030, representing a 45% increase from the production levels of 2023.

In contrast to India, the report suggests that several countries, including China, will witness a decline in steel production compared to their current levels. Addressing the raw material demand, for India to achieve its steel production growth target through the Blast Oxygen Furnace (BOF) route, aiming for 140 MT of hot metal output in 2030, it will require 116 MT of metallurgical coal. The report predicts that in the future, India will emerge as the largest importer of sea-borne metallurgical coal, holding a market share of 30%. Additionally, it is estimated that by 2030, the country will need around 350 MT of iron ore.

It is anticipated that India's steel demand will experience a Compound Annual Growth Rate (CAGR) of 7%, reaching the 190 Million Tonne (MT) level by 2030. The primary drivers for this demand are expected to be the construction and infrastructure sectors, contributing 60-65% to the overall demand, as stated by the market research firm. The report titled 'India?s Steel and Coking Coal Demand 2030' predicts that by 2030, India's steel demand is expected to touch 190 MT based on a 7% CAGR, and in an optimistic scenario, it could even reach 230 MT. The demand surge will also be attributed to sectors such as auto and engineering, with key contributing factors being population growth, increasing urbanization, and various government initiatives. The report forecasts that by the end of 2023, the demand is likely to reach the 120 MT mark, while production is expected to be at 136 MT. The report further projects that India's crude steel production will reach 210 MT by 2030, representing a 45% increase from the production levels of 2023. In contrast to India, the report suggests that several countries, including China, will witness a decline in steel production compared to their current levels. Addressing the raw material demand, for India to achieve its steel production growth target through the Blast Oxygen Furnace (BOF) route, aiming for 140 MT of hot metal output in 2030, it will require 116 MT of metallurgical coal. The report predicts that in the future, India will emerge as the largest importer of sea-borne metallurgical coal, holding a market share of 30%. Additionally, it is estimated that by 2030, the country will need around 350 MT of iron ore.

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code