Iron and Steel Casting Market Report 2026

The iron and steel casting market size has grown strongly in recent years. It will grow from $182.29 billion in 2025 to $195.66 billion in 2026 at a compound annual growth rate (CAGR) of 7.3%. The growth in the historic period can be attributed to growing automotive and transportation industry, expansion of heavy machinery manufacturing, increasing demand for industrial equipment, rise in construction and infrastructure projects, growing need for machine tools and mining equipment.

The iron and steel casting market size is expected to see strong growth in the next few years. It will grow to $256.81 billion in 2030 at a compound annual growth rate (CAGR) of 7%. The growth in the forecast period can be attributed to adoption of smart and automated casting processes, increasing demand for lightweight and high-strength materials, growth in energy-efficient and sustainable manufacturing, expansion of precision components production, increasing demand from pipe, pump, and valve industries. Major trends in the forecast period include adoption of advanced casting technologies, use of high-strength and specialty alloys, integration of automation and robotics in casting, energy-efficient and eco-friendly production methods, precision casting for automotive and industrial applications.

Government investments in infrastructure are anticipated to drive the expansion of the iron and steel casting market in the coming years. Investments in infrastructure encompass tangible assets such as energy facilities, roads, bridges, and highways that are part of everyday use. Cast iron and steel serve as essential materials for constructing building frameworks and other construction applications. For example, in June 2025, the OECD Government at a Glance 2025, a France-based international policy data authority, reported that public investment spending across OECD countries averaged 3.5% of GDP in 2023, reflecting a sustained focus on durable public capital expenditures compared to previous years. Consequently, government investment in infrastructure is supporting the growth of the iron and steel casting market.

Strategic collaborations among major industry players are increasingly prevalent in driving market growth. These partnerships involve structured affiliations between commercial enterprises, often established through contractual agreements or business arrangements. For instance, in September 2023, Dillinger Hütte, a Germany-based steel company, partnered with SMS group. Their collaboration aims to optimize blast furnace operations through logistical process modeling and digitalization, enhancing precise control over the blast furnace process. The partnership is geared towards developing and implementing innovative technologies that enhance efficiency and reduce costs within the steel industry. SMS group, a German company specializing in plant construction and mechanical engineering for the metals industry, aligns its expertise with Dillinger Hütte to drive advancements in the steel sector.

In May 2023, MacLean Power Systems LLC, a U.S.-based manufacturer of engineered components, acquired Dotson Iron Castings Inc for an undisclosed amount. Through this acquisition, MacLean Power aims to enhance its iron casting capabilities, increase production capacity, and improve service for customers in the utility, industrial, and infrastructure sectors. Dotson Iron Castings Inc is a U.S.-based foundry that provides cast iron products, including transmission hardware, fiberglass cross-arm brackets, and other essential components for infrastructure and industrial applications.

Major companies operating in the iron and steel casting market report are ArcelorMittal S.A., AMSTED Industries Incorporated, Tata Steel Ltd., Evraz PLC, Hitachi Metals Ltd., Nucor Corporation, Kobe Steel Ltd., The ESCO Group, Hyundai Steel Co. Ltd., Nelcast Limited, OSCO Industries Inc., Peekay Steel Castings Pvt. Ltd., Impro Industries USA Inc., MetalTek International, Tupy SA, Waupaca Foundry Inc., Neenah Foundry Company, Aarrowcast Inc., Dotson Iron Castings, Grede Holdings LLC, Metal Technologies Inc., Brantingham Manufacturing, Badger Foundry Company, Benton Foundry, Cast Technologies Inc., Liaoning Borui Machinery Co. Ltd.

Asia-Pacific was the largest region in the iron and steel casting market analysis in 2025 and is expected to be the fastest-growing region in the forecast period. The regions covered in the iron and steel casting market are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the iron and steel casting market are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The iron and steel casting market includes revenues earned by entities by centrifugal casting, pressure dies casting, plaster casting, lost-foam casting, vacuum casting, sand casting process, and other types. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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