Casting doubt: Import penetration has persisted, limiting the industry's performance

Industry revenue is expected to decline at a compound annual rate of 5.7% over the five years through 2018-19. Revenue is most heavily influenced by steel prices and demand trends. Steel prices have fluctuated significantly over the past five years, and rapid increases adversely affected revenue, notably in 2015-16 with a 16.8% fall in industry revenue. However, industrial production and residential and non-residential building construction activity rebounded over the past five years, which has supported demand. Railway construction activity and infrastructure construction activity related to water industries also increased during some years, safeguarding revenue from exceptional more.

Industry Statistics & Market Size
Annual Growth 14-19
Forecast Growth 19-24

Industry Threats & Opportunities

  • The industry’s performance has been constrained by import penetration
  • Despite the weakness of the pound, the value of exports has continued to plummet
  • Investment in railway infrastructure is expected to rise and support demand
  • Industry Report - Industry SWOT Analysis Chapter

    The Steel Casting industry is in the mature stage of its life cycle. Industry value added (IVA), which measures industry contribution to the overall economy, is expected to decrease at a compound annual rate of 5.7% over the 10 years through 2023-24. In comparison with projected GDP growth of 1.7% over the same period, it would indicate that the industry is declining. However, the IVA figures during this period are heavily depressed by strong pricing pressure and the price of steel plummeting heavily in 2015.The number of establishments and enterprises is estimated to decline by compound annual rates of 6.8% and 5.7% respectively over the five years through 2018-19. Steel casting firms have also encountered consolidation activity that is reminiscent of a mature industry. Ste...purchase to read more.

    Additional Insights for the Steel Casting Industry

    IBISWorld identifies 250 Key Success Factors for a business.The most important for the Steel Casting Industry are

  • Having a good reputation
  • Having contacts within key markets
  • Optimum capacity utilisation
  • IBISWorld analysts also discuss how external factors such as Industrial production index and Demand from water main, sewer system and related project construction in the Steel Casting industry impact industry performance..

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    What's in this report

    What is the Steel Casting Industry?

    Companies in this industry operate foundries that cast steel.

    Industry Products
  • Steel castings for machinery and mechanical appliance
  • Steel castings for locomotives and rolling stock
  • Tube and pipe fittings
  • Vehicle components
  • Industry Activities
  • Producing tube and pipe fittings of cast steel
  • Producing steel castings for machinery and mechanical appliances
  • Producing steel castings for locomotives and rolling stock
  • Producing steel castings for vehicles
  • Table of Contents

    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Executive Summary
    Key External Drivers
  • Industrial production index
  • Demand from water main, sewer system and related project construction
  • Demand from railway and underground railway construction
  • Total value of construction
  • World price of steel
  • Demand from motor vehicle manufacturing

  • Current Performance
  • Downstream demand
  • Competing imports
  • Profitability crushed
  • Chart: Revenue Growth

  • Industry Outlook
  • Domestic demand
  • International trade influences
  • Potential problems
  • Margins recover
  • Table: Steel Casting Industry Revenue Outlook

  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Steel Casting Industry Lifecycle vs The Economy

  • Supply Chains
    Key Buying Industries
  • Compressor Manufacturing
  • Railway Equipment Manufacturing
  • Water Collection, Treatment & Supply
  • Sewerage

  • Key Selling Industries
  • Electricity Distribution
  • Iron & Steel Manufacturing

  • Products & Services
  • Steel castings for machinery and mechanical appliance
  • Tube and pipe fittings
  • Steel castings for locomotives and rolling stock
  • Vehicle components
  • Other
  • Chart: Steel Casting Industry Products and Services Segmentation

  • Demand Determinants
    Major Markets
  • Machinery manufacturers
  • Water industries
  • Railway operators and manufacturers of railway equipment
  • Other
  • Construction sector
  • Automobile manufacturers
  • Chart: Major Market Segmentation for the Steel Casting Industry

  • International Trade
    Business Locations
    Chart: Business Locations by State
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Chart: Cost Structure Benchmarking – Sector vs Steel Casting

  • Basis of Competition
  • Internal competition
  • External competition

  • Barriers to Entry
  • Table: Barrier to Entry Checklist for the Steel Casting Industry

  • Industry Globalization
    Sheffield Forgemasters Engineering Ltd, William Cook Holdings Ltd, Goodwin Steel Castings Ltd,
  • Table: Sheffield Forgemasters Engineering Ltd - financial performance
  • Table: William Cook Holdings Ltd - financial performance
  • Table: Goodwin Steel Castings Ltd - financial performance

  • Capital Intensity
  • Chart: Level of Capital Intensity for the Steel Casting Industry
  • Chart: Tools of the Trade: Growth Strategies for Success

  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth

  • Regulation & Policy
    Industry Assistance
    Table: Industry Data for the Steel Casting Industry
  • Industry Revenue (2010-2024)
  • Industry Gross Product (2010-2024)
  • Establishments (2010-2024)
  • Businesses (2010-2024)
  • Employment (2010-2024)
  • Exports (2010-2024)
  • Imports (2010-2024)
  • Wages (2010-2024)

  • Table: Annual Percentage Change for Key Industry Data
    Table: Key Ratios for Industry Key Data
  • A combination of two or more metallic elements.
  • Carbon Steel
  • A metal alloy comprising of iron and carbon.
  • Ferritic
  • A term usually applied to a group of stainless steels with a high chromium content and whose structure consists largely of ferrite.
  • Foundry
  • A workshop or factory for casting steel.
  • Metallurgy
  • The branch of science and technology concerned with the properties of metals and their production and purification.
  • What Our Customers Say

    Why buy this report?

    IBISWorld’s Steel Casting market research report offers insightful industry analysis and research into the market at the national level. IBISWorld’s in-depth industry market research is presented in a logical and consistent format. The industry report contains key industry statistics, market size, industry trends, and growth and profit forecasts for a 5-year outlook period.

    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Steel Casting:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Steel Casting market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Steel Casting, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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