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Steel Casting in the UK Industry Data and Analysis
The steel casting industry's revenue is projected to contract at a compound annual rate of 0.2% to £209.9 over the five years through 2024-25, despite a hike of 6.2% in 2024-25. Volatility in the steel market has significantly affected steel casting companies as surging steel prices have inflated purchasing costs and revenue since 2022-23. However, a strong hit to downstream markets and steel prices during the height of the COVID-19 pandemic, followed by surging inflation rates and energy costs, dampened steel casting companies’ revenue and profitability significantly. While very high steel prices ballooned industry revenue in 2022-23, steel casting companies weren’t able to fully pass on the cost increases, hitting the already razor-thin profit margin. In 2024-25, the average industry profit is set to climb to 2.9%, aided by lower production costs and higher demand from key downstream markets.
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What's included in this industry analysis
IBISWorld's research coverage on the Steel Casting industry in the United Kingdom includes market sizing, forecasting, data and analysis from 2014-2029. The most recent publication was released July 2024.
About this industry
What's this industry report about?
The Steel Casting industry in the United Kingdom operates under the SIC industry code C24.520. Companies in this industry operate foundries that cast steel into finished and semi-finished products, including steel tubes, pipe fittings made of steel and various castings for use in machinery and mechanical applications. Related terms covered in the Steel Casting industry in the United Kingdom include alloy, carbon steel, foundry, metallurgy and ferritic.
What's included in this industry?
Products and services covered in Steel Casting industry in the United Kingdom include Steel castings for machinery and mechanical appliance, Steel castings for locomotives and rolling stock and Tube and pipe fittings.
What companies are included in this industry?
Companies covered in the Steel Casting industry in the United Kingdom include William Cook Holdings Ltd, Sheffield Forgemasters Engineering Ltd and Goodwin Steel Castings Ltd.
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 Steel Casting industry in the United Kingdom.
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 Steel Casting industry in the United Kingdom.
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 Steel Casting industry in the United Kingdom.
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 Steel Casting industry in the United Kingdom. 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 Steel Casting industry in the United Kingdom. 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 Steel Casting industry in the United Kingdom. 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 Steel Casting industry in the United Kingdom. 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 Steel Casting industry in the United Kingdom.
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Frequently Asked Questions
What is the market size of the Steel Casting industry in the United Kingdom in 2026?
The market size of the Steel Casting industry in the United Kingdom is £209.9m in 2026.
How many businesses are there in the Steel Casting industry in the United Kingdom in 2024?
There are 76 businesses in the Steel Casting industry in the United Kingdom, which has grown at a CAGR of 0.8 % between 2019 and 2024.
How may import tariffs affect the Steel Casting industry in the United Kingdom?
The Steel Casting industry in the United Kingdom is likely to be impacted by import tariffs with imports accounting for a moderate share of industry revenue.
How may export tariffs affect the Steel Casting industry in the United Kingdom?
The Steel Casting industry in the United Kingdom is likely to be impacted by export tariffs with exports accounting for a moderate share of industry revenue.
Has the Steel Casting industry in the United Kingdom grown or declined over the past 5 years?
The market size of the Steel Casting industry in the United Kingdom has been declining at a CAGR of 0.2 % between 2019 and 2024.
What is the forecast growth of the Steel Casting industry in the United Kingdom over the next 5 years?
Over the next five years, the Steel Casting industry in the United Kingdom is expected to grow.
What are the biggest companies in the Steel Casting industry in the United Kingdom?
The biggest companies operating in the Steel Casting industry in the United Kingdom are William Cook Holdings Ltd, Sheffield Forgemasters Engineering Ltd and Goodwin Steel Castings Ltd
What does the Steel Casting industry in the United Kingdom include?
Producing tube and pipe fittings of cast steel and Producing steel castings for machinery and mechanical appliances are part of the Steel Casting industry in the United Kingdom.
Which companies have the highest market share in the Steel Casting industry in the United Kingdom?
The company holding the most market share in the Steel Casting industry in the United Kingdom is William Cook Holdings Ltd.
How competitive is the Steel Casting industry in the United Kingdom?
The level of competition is moderate and steady in the Steel Casting industry in the United Kingdom.
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