The Europe mining steel industry market, valued at $124.2 billion in 2024, is set to grow at a 5.17% CAGR, reaching $217.6 billion by 2035. Bolstered by rising demand in infrastructure, automotive, and construction industries, the market is advancing towards greener practices. The adoption of electric arc furnaces (EAF), direct reduced iron (DRI) technology, and renewable energy sources drives this shift. Increased investments in raw materials and technological innovation underpin the sector’s growth, despite challenges like high energy costs and regulatory pressures. Key players like ArcelorMittal and thyssenkrupp AG lead this transformative journey towards sustainable manufacturing.
The Europe mining steel industry market, valued at $124.2 billion in 2024, is set to grow at a 5.17% CAGR, reaching $217.6 billion by 2035. Bolstered by rising demand in infrastructure, automotive, and construction industries, the market is advancing towards greener practices. The adoption of electric arc furnaces (EAF), direct reduced iron (DRI) technology, and renewable energy sources drives this shift. Increased investments in raw materials and technological innovation underpin the sector's growth, despite challenges like high energy costs and regulatory pressures. Key players like ArcelorMittal and thyssenkrupp AG lead this transformative journey towards sustainable manufacturing.
