Europe Mining Steel Industry Market is Estimated to Reach $217.6 Billion by 2035 - BIS Research

What is the Mining Steel Industry? 

The mining steel industry plays a foundational role in the continent’s infrastructure, energy, and manufacturing systems. Steel is produced using both traditional and increasingly sustainable methods, while mining operations secure essential raw materials like iron ore and coking coal. With growing pressure to decarbonize, the sector is pivoting toward green technologies such as Electric Arc Furnaces (EAF), hydrogen-based Direct Reduced Iron (DRI), and circular practices like steel recycling. 

What is the Current Market Outlook for Europe Mining Steel Industry? 

Valued at $124.2 billion in 2024, the Europe mining steel industry is projected to grow at a CAGR of 5.17%, reaching $217.6 billion by 2035. This growth is fueled by rising demand from the infrastructure, automotive, and energy sectors, along with strong regulatory and financial support for low-carbon steelmaking technologies across the EU. 

What is the key Innovation & Trends in the Europe Mining Steel Industry Market? 

The industry is undergoing a major transformation with a focus on decarbonization, digitalization, and resilience. Key trends include: 

• A shift from BF-BOF to DRI-EAF technologies 
• Growing use of recycled steel and circular economy models 
• Adoption of AI, automation, and IoT in steel plants and mining 
• Expansion of hydrogen-based steelmaking pilots 
• Increased domestic mining investment to reduce import reliance 
• Strategic partnerships for securing raw materials 

How Does This Report Help Organizations Drive Strategic Growth? 

• Understand technology trends in low-carbon steel production 
• Track regional demand across construction, automotive, and energy sectors 
• Analyze shifts in steel product types (e.g., high-strength, stainless) 
• Evaluate the impact of EU climate policies and incentives 
• Identify opportunities in digital transformation and supply chain localization 

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What Are the Key Trends, Demand Drivers and Challenges in the Europe Mining Steel Industry Market? 

Drivers: 

• EU climate goals push green steel and emissions reduction aggressively 
• Infrastructure growth and EV production boost steel demand across sectors 
• Government funding accelerates green production technology deployment 
• Rising demand for sustainably produced steel in European manufacturing 
• Resource efficiency drives adoption of recycling and energy optimization 

Challenges: 

• High operational costs reduce competitiveness against non-EU producers 
• Complex carbon regulations create compliance burden for manufacturers 
• Heavy reliance on imported ore and coal strains supplies chain security 
• Global overcapacity and tariffs intensify trade and pricing pressures 
• Clean technology transition needs major capital and skilled labor investment 
• Workforce must adapt to automation, AI, and digital transformation tools 

Trends: 

• Shift to low-carbon steel using EAFs and hydrogen-based DRI 
• Increasing recycled steel use supports circular economy practices adoption 
• AI, automation, IoT enhance productivity across steel and mining operations 
• Strong demand from automotive, infrastructure, and renewable energy sectors 
• Strategic partnerships formed to ensure raw material supply chain security 

What is the Market Segmentation in the Europe Mining Steel Industry Market? 

By End-Use Application 

•    Transportation (Automotive and Other Transportation) 

•    Building, Construction, and Infrastructure 

•    Consumer Goods and Appliances 

•    Industrial Equipment and Manufacturing 

•    Packaging 

•    Others 

By Production Methodology 

•    Blast Furnace-Basic Oxygen Furnace (BF-BOF) 

•    Direct Reduced Iron - Electric Arc Furnace (DRI-EAF) 

•    Other Emerging Technologies 

By End Products 

•    Carbon Steel 

•    Alloy Steel 

•    Stainless Steel 

•    High-Strength Steel 

•    Others 

By Region 

Europe: Germany, France, Austria, Italy, U.K., Rest-of-Europe 

What Is the Competitive Landscape in the Europe Mining Steel Industry Market? 

Key Players 

•    ArcelorMittal 

•    thyssenkrupp AG 

•    Salzgitter AG 

Strategic Initiatives 

EU-based steelmakers are forming alliances with mining firms and renewable energy providers to ensure stable raw material access while shifting to DRI-EAF processes. For instance, joint ventures in Germany aim to establish hydrogen infrastructure alongside steel recycling networks, lowering emissions and boosting production efficiency. 

Here Are Some Case Studies and Success Stories in A Europe Mining Steel Industry Market 

ArcelorMittal has launched a green steel pilot in Hamburg using hydrogen-based DRI and renewable energy. The plant is designed to produce zero carbon steel for the automotive and construction sectors. Supported by EU funding and part of the Hydrogen IPCEI, it exemplifies Europe’s push for large-scale industrial decarbonization. 

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