Global Wear Resistant Steel
Market Report
2025
The global Wear Resistant Steel market size will be USD 1654.2 million in 2024. The rising construction sector is expected to boost sales to USD 2406.330268 million by 2031, with a Compound Annual Growth Rate (CAGR) of 5.50% from 2024 to 2031.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
PDF Access: Password protected PDF file, Excel File Access: Quantitative data, PPT Report Access: For the presentation purpose, Cloud Access: Secure Company Account Access.
Share your contact details to receive free updated sample copy/pages of the recently published edition of Wear Resistant Steel Market Report 2025.
According to Cognitive Market Research, the global Wear Resistant Steel market size will be USD 1654.2 million in 2024. It will expand at a compound annual growth rate (CAGR) of 5.50% from 2024 to 2031.
2024 | 2025 | 2032 | 2033 | CAGR | |
---|---|---|---|---|---|
Global Wear Resistant Steel Market Sales Revenue | $ 1654.2 Million | 121212 | 121212 | 121212 | 5.5% |
North America Wear Resistant Steel Market Sales Revenue | $ 661.68 Million | 121212 | 121212 | 121212 | 3.7% |
Mexico Wear Resistant Steel Market Sales Revenue | $ 60.21 Million | 121212 | 121212 | 121212 | 4.2% |
Canada Wear Resistant Steel Market Sales Revenue | $ 79.4 Million | 121212 | 121212 | 121212 | 4.5% |
United States Wear Resistant Steel Market Sales Revenue | $ 522.07 Million | 121212 | 121212 | 121212 | 3.5% |
Europe Wear Resistant Steel Market Sales Revenue | $ 496.26 Million | 121212 | 121212 | 121212 | 4% |
Italy Wear Resistant Steel Market Sales Revenue | $ 42.68 Million | 121212 | 121212 | 121212 | 3.4% |
Germany Wear Resistant Steel Market Sales Revenue | $ 98.26 Million | 121212 | 121212 | 121212 | 4.2% |
France Wear Resistant Steel Market Sales Revenue | $ 45.66 Million | 121212 | 121212 | 121212 | 3.2% |
Spain Wear Resistant Steel Market Sales Revenue | $ 40.69 Million | 121212 | 121212 | 121212 | 3.1% |
United Kingdom Wear Resistant Steel Market Sales Revenue | $ 83.37 Million | 121212 | 121212 | 121212 | 4.8% |
Russia Wear Resistant Steel Market Sales Revenue | $ 76.92 Million | 121212 | 121212 | 121212 | 3% |
Rest of Europe Wear Resistant Steel Market Sales Revenue | $ 76.92 Million | 121212 | 121212 | 121212 | 2.7% |
Asia Pacific Wear Resistant Steel Market Sales Revenue | $ 380.47 Million | 121212 | 121212 | 121212 | 7.5% |
Japan Wear Resistant Steel Market Sales Revenue | $ 52.5 Million | 121212 | 121212 | 121212 | 6% |
China Wear Resistant Steel Market Sales Revenue | $ 171.21 Million | 121212 | 121212 | 121212 | 7% |
Australia Wear Resistant Steel Market Sales Revenue | $ 19.78 Million | 121212 | 121212 | 121212 | 7.2% |
India Wear Resistant Steel Market Sales Revenue | $ 45.66 Million | 121212 | 121212 | 121212 | 9.3% |
Korea Wear Resistant Steel Market Sales Revenue | $ 38.05 Million | 121212 | 121212 | 121212 | 6.6% |
Rest of APAC Wear Resistant Steel Market Sales Revenue | $ 27.01 Million | 121212 | 121212 | 121212 | 7.3% |
South America Wear Resistant Steel Market Sales Revenue | $ 82.71 Million | 121212 | 121212 | 121212 | 4.9% |
Argentina Wear Resistant Steel Market Sales Revenue | $ 13.9 Million | 121212 | 121212 | 121212 | 5.8% |
Brazil Wear Resistant Steel Market Sales Revenue | $ 35.4 Million | 121212 | 121212 | 121212 | 5.5% |
Chile Wear Resistant Steel Market Sales Revenue | $ 5.96 Million | 121212 | 121212 | 121212 | 5.2% |
Peru Wear Resistant Steel Market Sales Revenue | $ 6.78 Million | 121212 | 121212 | 121212 | 5.1% |
Colombia Wear Resistant Steel Market Sales Revenue | $ 7.36 Million | 121212 | 121212 | 121212 | 4.7% |
Rest of South America Wear Resistant Steel Market Sales Revenue | $ 13.32 Million | 121212 | 121212 | 121212 | 4% |
Middle East and Africa Wear Resistant Steel Market Sales Revenue | $ 33.08 Million | 121212 | 121212 | 121212 | 5.2% |
Turkey Wear Resistant Steel Market Sales Revenue | $ 2.85 Million | 121212 | 121212 | 121212 | 4.7% |
Egypt Wear Resistant Steel Market Sales Revenue | $ 3.47 Million | 121212 | 121212 | 121212 | 5.5% |
Rest of MEA Wear Resistant Steel Market Sales Revenue | $ 3.9 Million | 121212 | 121212 | 121212 | 4.2% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
Market Split by Type Outlook: |
|
Market Split by Application Outlook: |
|
List of Competitors |
|
Regional Analysis |
|
Country Analysis |
|
Market Drivers:
| |
Market Restrains:
| |
Market Trends:
|
Report scope is customizable as we have a huge database of Wear Resistant Steel industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
Wear Resistant Steel Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
Steel that has been specially engineered to resist abrasion and wear is known as wear resistant steel. Hardness, toughness, and the capacity to withstand severe impacts and friction under adverse circumstances are its defining characteristics. Wear-resistant steel's main goal is to increase the longevity of machinery and other parts that are subjected to abrasion. It is frequently utilized for parts like excavator buckets, crushers, conveyor belts, and other equipment that runs in abrasive conditions in the mining, construction, and heavy machinery industries. The AR (Abrasion Resistant) 400 and AR 500 ratings are popular. The market expansion is being driven by the increasing construction and infrastructure development, technological advancements, growing mining industry and others
Many factors have contributed to the Wear Resistant Steel Market's explosive growth, but the primary driver of this growth has been the increased need for agricultural equipment. This is a result of consumers seeking products with longer lifespans because agricultural equipment is an expensive item that they must purchase once. Because it increases the equipment's resistance to corrosion and acidic environments, wear-resistant steel is becoming more and more significant. Thus, the growing demand for agricultural equipment drives the growth of the market.
Both manufacturers and consumers search the market for goods with the longest possible lifespan. The need for wear-resistant steel has increased due to the recent boom in the mining sector. It prolongs the product's life while also improving operating effectiveness and protecting against corrosion. Wear-resistant steel finds application in chutes, cutting edges, deflectors, dump trucks, and silos, among other things. Wear-resistant steel is more beneficial to the mining industry since it can be utilized to build both large and small machinery and tools.
Costly alloying materials like nickel, manganese, and chromium are used to make wear-resistant steel. Price fluctuations for these raw materials have the potential to raise manufacturing costs overall, which can have an adverse effect on profitability and restrict adoption in industries where prices are crucial. However, in some specialized applications, other materials including hard-facing alloys, high-performance ceramics, and advanced polymer composites can be used in place of wear-resistant steel. These materials could be more lightweight or more resistant to corrosion, making them competitive in industries like aerospace and energy.
COVID-19 has an impact on all sectors of the economy. The market for wear-resistant steel was also affected. Because of unfavorable laws in every nation on earth, the COVID-19 pandemic did have an impact on the manufacture of wear-resistant steel. Everything had stopped. The production process was disrupted due to the closure of the industries. The market for wear-resistant steel did not decline as a result of no production. During COVID-19, this had a detrimental impact on the market.
We have various report editions of Wear Resistant Steel Market, hence please contact our sales team and author directly to obtain/purchase a desired Edition eg, Global Edition, Regional Edition, Country Specific Report Edition, Company Profiles, Forecast Edition, etc. Request for your Free Sample PDF/Online Access.
The wear-resistant steel market is characterized by a competitive landscape with several key players, ranging from large multinational corporations to regional manufacturers. These companies compete based on product quality, innovation, cost, and distribution networks.
Top Companies Market Share in Wear Resistant Steel Industry: (In no particular order of Rank)
If any Company(ies) of your interest has/have not been disclosed in the above list then please let us know the same so that we will check the data availability in our database and provide you the confirmation or include it in the final deliverables.
According to Cognitive Market Research, North America currently dominates the Wear Resistant Steel market, and the region is expected to have significant growth during the projected period. This is due to the rising construction industry.
Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). The segment expansion is attributable to the increasing infrastructural development.
The current report Scope analyzes Wear Resistant Steel Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
The above graph is for illustrative purposes only.
To learn more about geographical trends request the free sample pages.
Get Free Sample
According to Cognitive Market Research, the global Wear Resistant Steel market size was estimated at USD 1654.2 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 661.68 million in 2024 and will grow at a compound annual growth rate (CAGR) of 3.7% from 2024 to 2031.
According to Cognitive Market Research, the global Wear Resistant Steel market size was estimated at USD 1654.2 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 496.26 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.0% from 2024 to 2031.
According to Cognitive Market Research, the global Wear Resistant Steel market size was estimated at USD 1654.2 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 380.47 million in 2024 and will grow at a compound annual growth rate (CAGR) of 7.5% from 2024 to 2031.
According to Cognitive Market Research, the global Wear Resistant Steel market size was estimated at USD 1654.2 Million, out of which the Latin America held the market share of around 5% of the global revenue with a market size of USD 82.71 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.9% from 2024 to 2031.
According to Cognitive Market Research, the global Wear Resistant Steel market size was estimated at USD 1654.2 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 33.08 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.2% from 2024 to 2031.
Global Wear Resistant Steel Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing Wear Resistant Steel Industry growth. Wear Resistant Steel market has been segmented with the help of its Type Outlook:, Application Outlook: , and others. Wear Resistant Steel market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
How are Segments Performing in the Global Wear Resistant Steel Market?
According to Cognitive Market Research, Under HBW 400 segment is likely to dominate the Wear Resistant Steel Market over the forecast period. Global infrastructure development is booming, and this is particularly true in developing regions like Asia-Pacific, Latin America, and Africa, where demand for HBW 400 category wear-resistant steel is high. This steel grade is extensively utilized in wear plates, dump trucks, and construction equipment (bulldozers, excavators, etc.), all of which are essential to infrastructure and building projects.
The Above HBW 500 segment is the fastest-growing segment in the Wear Resistant Steel Market. In the mining and quarrying industries, wear-resistant steel with a hardness above HBW 500 is widely used in equipment such as conveyor systems, dump trucks, and crushers that are subjected to high levels of abrasion. More robust and long-lasting equipment is required due to the growing worldwide demand for minerals and deeper mining operations.
The above Chart is for representative purposes and does not depict actual sale statistics. Access/Request the quantitative data to understand the trends and dominating segment of Wear Resistant Steel Industry. Request a Free Sample PDF!
According to Cognitive Market Research, the Construction Industry segment holds the largest share of the market. Construction companies are increasingly seeking to reduce operating costs through the use of durable materials that minimize downtime and extend equipment life. Wear-resistant steel helps achieve this by reducing the frequency of part replacement and equipment servicing. By using wear-resistant steel in key components, companies save on labor costs and increase the overall efficiency of construction projects.
In the Wear Resistant Steel Market, the Mining Equipment Industry segment has been expanding at a rapid pace. The segment growth is attributed to the rising mining sector.
The above Graph is for representation purposes only. This chart does not depict actual Market share.
To learn more about market share request the free sample pages.
Get Free Sample
Senior Research Analyst at Cognitive Market Research
• Worked on several market, industry & business research projects, on various models such as Syndicated, Custom, Subscriptions and Consults
• Proficient in secondary research and familiar with all paid research databases
• Proficient in primary research and handling client queries through mails and calls
• Expertise in statistical techniques used in data forecasting, possess strong grip on all aspects of market engineering & data analysis
• Expertise in checking feasibility of projects based on Request for Proposal (RFPs) of clients
• Acquainted with entire process of report writing- Title Analysis, TOC Building, Search Engine Optimization, TOC Freezing, Writing Reports, Market Engineering, Scheduling Primaries, Directory of Key Industry Participants (DKIP), Drafting “Press Articles/Summary/Report Description/Analyst Briefing” used for making marketing collaterals
• Gained team-work skills in coordinating with the sales teams for business development and meeting needs of a variety of clients hand-in-hand with promoting sales.
Manoj Phagare is a dynamic and results-driven research analyst with a passion for transforming raw data into actionable insights. Armed with a solid foundation in market research and data analysis and working in various domains including chemical & materials and paints & coatings. He thrive on the challenge of uncovering patterns, trends, and opportunities that drive strategic decision-making.His analytical mindset, coupled with effective communication skills, allows him to bridge the gap between data analysis and practical business applications.
In his current role, Manoj is a key player in market research and competitive analysis. He have a proven track record of synthesizing disparate data sources, employing statistical models, and delivering comprehensive insights. He have played a pivotal role in shaping evidence-based strategies that fueled the success of key business initiatives and Collaborating with cross-functional teams.Manoj remains an invaluable asset in the dynamic landscape of market research.
Conclusion
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type Outlook: | Under HBW 400, HBW 400-500, Above HBW 500 |
Application Outlook: | Construction Industry, Mining Equipment Industry, Other |
List of Competitors | SSAB, JFE, ThyssenKrupp, Dillinger, Bisalloy, ESSAR Steel Algoma, ArcelorMittal, NSSMC, NLMK Clabecq, Bisalloy Jigang, NanoSteel, Baowu Group, WUYANG Steel, ANSTEEL, TISCO, Acroni, Salzgitter |
This chapter will help you gain GLOBAL Market Analysis of Wear Resistant Steel. Further deep in this chapter, you will be able to review Global Wear Resistant Steel Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of Wear Resistant Steel. Further deep in this chapter, you will be able to review North America Wear Resistant Steel Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of Wear Resistant Steel. Further deep in this chapter, you will be able to review Europe Wear Resistant Steel Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of Wear Resistant Steel. Further deep in this chapter, you will be able to review Asia Pacific Wear Resistant Steel Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of Wear Resistant Steel. Further deep in this chapter, you will be able to review South America Wear Resistant Steel Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East and Africa Market Analysis of Wear Resistant Steel. Further deep in this chapter, you will be able to review Middle East and Africa Wear Resistant Steel Market Split by various segments and Country Split.
Chapter 6 Middle East and Africa Market Analysis
Only Available with Corporate User License
Chapter 7 Top 10 Countries Analysis (Only Available with Corporate User License)
This chapter provides an in-depth analysis of the market share among key competitors of Wear Resistant Steel. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Outlook: Analysis 2019 -2031, will provide market size split by Type Outlook:. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Outlook: Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Outlook: Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global Wear Resistant Steel market
Chapter 12 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Why Under HBW 400 have a significant impact on Wear Resistant Steel market? |
What are the key factors affecting the Under HBW 400 and HBW 400-500 of Wear Resistant Steel Market? |
What is the CAGR/Growth Rate of Construction Industry during the forecast period? |
By type, which segment accounted for largest share of the global Wear Resistant Steel Market? |
Which region is expected to dominate the global Wear Resistant Steel Market within the forecast period? |
Segmentation Level Customization |
|
Global level Data Customization |
|
Region level Data Customization |
|
Country level Data Customization |
|
Company Level |
|
Additional Data Analysis |
|
Additional Qualitative Data |
|
Additional Quantitative Data |
|
Service Level Customization |
|
Report Format Alteration |
|