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Global Iron Ore Mining Industry Data and Analysis
Iron ore miners are facing a turbulent period marked by significant shifts in global steel production dynamics. The Chinese government's mandate in 2021 to reduce steel production growth and a sluggish property sector have led to challenges for iron ore miners. Despite some increased steel output from countries like India, which is boosting its steel production through major infrastructure projects, global miners are still grappling with inconsistent demand and fluctuating prices. Early 2025 brought additional hurdles as prominent producers like Vale, Rio Tinto and BHP struggled with adverse weather conditions, leading to production declines. Industry revenue has been decreasing at a CAGR of 4.0% over the past five years to total an estimated $260.0 billion in 2025, including an estimated drop of 7.1% in 2025.
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What's included in this industry analysis
IBISWorld's research coverage on the Global Iron Ore Mining industry includes market sizing, forecasting, data and analysis from 2015-2030. The most recent publication was released May 2025.
About this industry
What's this industry report about?
The Global Iron Ore Mining industry operates under the industry code B0611-GL. The Global Iron Ore Mining industry consists of companies that mine iron-bearing ores that are primarily hematite, magnetite and taconite. In addition to ore extraction, mining includes the development of mine sites and the processing of ore mined into a concentrate or pellet form. The iron ore and iron ore pellets are then sold as an input to blast furnace steel production. Related terms covered in the Global Iron Ore Mining industry include iron ore, iron ore pellet, open cut mining, taconite, magnetite, hematite and fines.
What's included in this industry?
Products and services covered in Global Iron Ore Mining industry include Iron ore fines and Iron ore pellets.
What companies are included in this industry?
Companies covered in the Global Iron Ore Mining industry include Vale SA, BHP Group Limited and Rio Tinto PLC.
Performance
What's included in the Performance chapter?
The Performance chapter covers detailed analysis, datasets, detailed current performance, sources of volatility and an outlook with forecasts for the Global Iron Ore Mining industry.
Questions answered in this chapter include what's driving current industry performance, what influences industry volatility, how do successful businesses overcome volatility, what's driving the industry outlook. This analysis is supported with data and statistics on industry revenues, costs, profits, businesses and employees.
Products & Markets
What's included in the Products and Markets chapter?
The Products and Markets chapter covers detailed product and service segmentation, analysis of major markets and international trade data for the for the Global Iron Ore Mining industry.
Questions answered in this chapter include how are the industry's products and services performing, what are innovations in industry products and services, what products or services do successful businesses offer and what's influencing demand from the industry's markets. This includes data and statistics on industry revenues by product and service segmentation and major markets.
Geographic Breakdown
What's included in the Geographic Breakdown chapter?
The Geographic Breakdown chapter covers detailed analysis and datasets on regional performance of the Global Iron Ore Mining industry.
Questions answered in this chapter include where are industry businesses located and how do businesses use location to their advantage. This includes data and statistics on industry revenues by location.
Competitive Forces
What's included in the Competitive Forces chapter?
The Competitive Forces chapter covers the concentration, barriers to entry and supplier and buyer profiles in the Global Iron Ore Mining industry. This includes data and statistics on industry market share concentration, barriers to entry, substitute products and buyer & supplier power.
Questions answered in this chapter include what impacts the industry's market share concentration, how do successful businesses handle concentration, what challenges do potential industry entrants face, how can potential entrants overcome barriers to entry, what are substitutes for industry services, how do successful businesses compete with substitutes and what power do buyers and suppliers have over the industry and how do successful businesses manage buyer & supplier power.
Companies
What's included in the Companies chapter?
The Companies chapter covers Key Takeaways, Market Share and Companies in the Global Iron Ore Mining industry. This includes data and analysis on companies operating in the industry that hold a market share greater than 5%.
Questions answered in this chapter include what companies have a meaningful market share and how each company is performing.
External Environment
What's included in the External Environment chapter?
The External Environment chapter covers Key Takeaways, External Drivers, Regulation & Policy and Assistance in the Global Iron Ore Mining industry. This includes data and statistics on factors impacting industry revenue such as economic indicators, regulation, policy and assistance programs.
Questions answered in this chapter include what demographic and macroeconomic factors impact the industry, what regulations impact the industry, what assistance is available to this industry.
Financial Benchmarks
What's included in the Financial Benchmarks chapter?
The Financial Benchmarks chapter covers Key Takeaways, Cost Structure, Financial Ratios, Valuation Multiples and Key Ratios in the Global Iron Ore Mining industry. This includes financial data and statistics on industry performance including key cost inputs, profitability, key financial ratios and enterprise value multiples.
Questions answered in this chapter include what trends impact industry costs and how financial ratios have changed overtime.
Industry Data
What's included in the Industry Data chapter?
The Industry Data chapter includes 10 years of historical data with 5 years of forecast data covering statistics like revenue, industry value add, establishments, enterprises, employment and wages in the Global Iron Ore Mining industry.
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Frequently Asked Questions
What is the market size of the Global Iron Ore Mining industry in 2026?
The market size of the Global Iron Ore Mining industry is $260.0bn in 2026.
How many businesses are there in the Global Iron Ore Mining industry in 2025?
There are 2,341 businesses in the Global Iron Ore Mining industry, which has grown at a CAGR of 1.5 % between 2020 and 2025.
How may import tariffs affect the Global Iron Ore Mining industry?
The Global Iron Ore Mining industry is likely to be significantly impacted by import tariffs with imports accounting for a high share of industry revenue.
How may export tariffs affect the Global Iron Ore Mining industry?
The Global Iron Ore Mining industry is likely to be significantly impacted by export tariffs with exports accounting for a high share of industry revenue.
Has the Global Iron Ore Mining industry grown or declined over the past 5 years?
The market size of the Global Iron Ore Mining industry has been declining at a CAGR of 4.0 % between 2020 and 2025.
What is the forecast growth of the Global Iron Ore Mining industry over the next 5 years?
Over the next five years, the Global Iron Ore Mining industry is expected to decline.
What are the biggest companies in the Global Iron Ore Mining industry?
The biggest companies operating in the Global Iron Ore Mining industry are Vale SA, BHP Group Limited and Rio Tinto PLC
What does the Global Iron Ore Mining industry include?
Mining iron bearing ore and Processing iron bearing ore into pellets are part of the Global Iron Ore Mining industry.
Which companies have the highest market share in the Global Iron Ore Mining industry?
The company holding the most market share in the Global Iron Ore Mining industry is Vale SA.
How competitive is the Global Iron Ore Mining industry?
The level of competition is high and steady in the Global Iron Ore Mining industry.
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