The Indian steel and customized components industry is undergoing significant growth driven by domestic infrastructure development and industrial expansion. The domestic steel demand grew at a 11.6% CAGR between Fiscals 2020 and 2026. The demand for metal rolls, which is positively correlated with finished steel production, grew at a 7.9% CAGR during Fiscals 2020-2026 and is projected to continue expanding as hot and cold rolling mills scale up. Concurrently, the Indian engineering castings (foundry) market, driven by automotive, energy, and defense sectors, is seeing a shift toward high-precision, lightweight, and automated production. The market is increasingly consolidating toward large and medium-sized organized players who benefit from technological superiority and economies of scale, while unorganized players continue to lose market share. [1]
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