The market demand for carbon steel machined parts remains strong, and they are widely used in the automotive, machinery, and energy industries. Benefiting from manufacturing upgrades and infrastructure investment, they are expected to maintain stable growth in the coming years.
Market Size and Growth Trends
The global carbon steel market reached US$91.68 billion in 2023 and is projected to grow to US$137 billion by 2030, with a CAGR of approximately 4.5–5.3%.
As one of the world's largest producers and consumers of carbon steel, China's continuously expanding market demand provides ample room for the development of the carbon steel turning parts industry.
In the first quarter of 2023, although crude steel production declined slightly, steel product output increased by 4.4% year-on-year, indicating that the industry still possesses strong growth momentum.
