Press release
India Structural Steel Market Expected to Reach USD 6.75 Million by 2034, Industry Growing at a CAGR of 5.81%
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What is Structural Steel?
Structural steel refers to specially designed steel shapes like beams, columns, angles, and channels used as the load-bearing framework in construction projects. For example, companies like Tata Steel and JSW Steel have transformed India's infrastructure landscape through innovative structural steel solutions that enable the construction of towering skyscrapers, expansive bridges, modern metro systems, and industrial facilities-making structural steel the backbone of the nation's rapid urban development and industrialization.
Key Market Trends and Drivers:
The India structural steel market is witnessing robust growth driven by record government infrastructure spending and ambitious capacity targets under the National Steel Policy. The government allocated INR 11.11 lakh crore in the Union Budget 2024-25 specifically for infrastructure projects covering highways, ports, metro stations, airports, and smart cities-creating unprecedented demand for structural steel across multiple sectors.
The expanding pre-engineered buildings segment is proving transformative, with India's PEB market now valued at INR 3,500 crore and growing at 10 to 15 percent annually, outpacing traditional construction. PEBs can cut construction timelines by up to 50 percent while reducing costs through standardized components and optimized material use, making them particularly attractive for warehouses, factories, and commercial facilities.
Digital transformation is reshaping production processes, with Tata Steel investing over USD one billion in its 'Tata Smart Leap' AI program, achieving seven percent productivity gains and two percent energy reductions in operations. The Smart Cities Mission, Pradhan Mantri Awas Yojana for affordable housing, and infrastructure initiatives like Bharatmala and Sagarmala are driving structural steel consumption beyond metropolitan areas into tier-2 and tier-3 cities. Building and construction sectors account for approximately 68 percent of India's total steel consumption, with structural steel forming the essential framework for large-scale projects requiring high strength and durability.
Recent News and Developments in India Structural Steel Market
✤ July 2025: Tata Steel signed a Memorandum of Understanding with Australia's InQuik Group to introduce modular bridge construction technology to India, enabling cost-effective and climate-resilient infrastructure development. This strategic partnership brings advanced prefabrication and modular construction capabilities, addressing India's extensive infrastructure modernization requirements while reducing construction timelines and environmental impact through innovative manufacturing processes.
✤ February 2025: JSW Group announced a massive Rs 1,00,000 crore (USD 11.60 billion) investment to construct a steel plant in Gadchiroli, Maharashtra, with an annual capacity of 25 million tonnes over seven to eight years. The project is expected to be the world's largest and most eco-friendly steel manufacturing facility, driving significant economic growth and employment creation in the Vidarbha region.
✤ July 2024: Pennar Industries announced plans to establish a new manufacturing factory for pre-engineered buildings in Raebareli, Uttar Pradesh, reflecting surging demand and private sector confidence in the PEB market's growth trajectory as the sector continues expanding its footprint across industrial and commercial applications.
✤ November 2024: ArcelorMittal Nippon Steel India announced an INR 1.5 lakh crore (approximately USD 18 billion) investment for an integrated steel plant at Anakapalle, Andhra Pradesh, with a production capacity of 24 million tonnes annually. The mega-project is expected to create approximately 70,000 direct and indirect jobs, significantly boosting regional industrial development.
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Leading Companies Operating in the India Structural Steel Market:
The market features a diverse mix of large integrated steel manufacturers, specialized structural steel fabricators, and regional players. Major producers leverage vertical integration and established relationships with contractors and government agencies, while specialized fabricators compete through technical expertise and project-specific customization capabilities.
Explore the Full Report with Charts, Table of Contents, and List of Figures: https://www.imarcgroup.com/india-structural-steel-market
India Structural Steel Market Report Segmentation:
Analysis by Product:
✤ Angles
✤ Channels
✤ Rounds
✤ Beam
✤ Squares
Analysis by Application:
1. Residential
2. Non-residential
✤ Institutional
✤ Commercial
✤ Offices
✤ Others
Regional Analysis:
✤ North India
✤ West and Central India
✤ South India
✤ East India
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