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Steel Casting in the UK: Market Research Report

Market Research • Market Size • Industry Statistics • Industry Analysis • Industry Trends

Steel Casting Market Research Report | SIC C24.520 | Jan 2017

Steeled for growth: Rising demand from downstream industries supports revenue expansion

IBISWorld’s Steel Casting market research report is a comprehensive guide to market size and growth prospects. Our industry reports offer strategic industry analysis of the factors influencing companies, including new product developments, economic, lifestyle and demographic influences, distribution and supply chain factors and pricing issues. Full analysis accompanies our data forecasts to illustrate how the market responds to emerging industry trends.

Report Snapshot
Market Share of Companies
Goodwin Steel Castings Ltd Goodwin Steel Castings Ltd market share
Sheffield Forgemasters Engineering Ltd Sheffield Forgemasters Engineering Ltd market share
William Cook Holdings Ltd William Cook Holdings Ltd market share
Industry Statistics & Market Size
Revenue
£274m
Annual Growth 12-17
-6.1%
Annual Growth 17-22
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Profit
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Employment
2,795
Businesses
91
Industry Threats & Opportunities
  • Volatile steel prices have caused revenue to fluctuate significantly over the past five years
  • EU anti-dumping duties are expected to somewhat limit import competition
  • Government investment into the construction of new houses should support industry demand
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Industry Analysis & Industry Trends

Industry revenue is expected to decline at a compound annual rate of 6.1% over the five years through 2016-17. Revenue is influenced by demand trends, as well as changes in steel prices. Steel prices are expected to have declined overall during the past five years, despite registering significant year-on-year fluctuations. This instilled a high degree of revenue volatility. Industrial production activity is projected to have remained stagnant, negatively influencing demand for steel castings, as they are widely used in engineered products. However, residential and non-residential building construction activity rebounded and had a favourable influence on demand... purchase to read more

Industry Report - Industry Key Buyers Chapter

The industry displays a medium level of concentration. The four largest firms are expected to account for 46.8% of industry revenue in 2016-17. However, market share concentration varies between product and market segments.

The industry has some large players operating alongside several smaller players. The largest steel casting firms operating in the industry tend to have a foothold in the markets for complex and sophisticated castings. In 2016, 61.1% of players employed fewer than 10 employees. This confirms that many small firms operate in the industry.

Industry concentration increased during the past five years. This was due to industry exits and larger players acquiring smaller firms.

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Additional Insights for the Steel Casting Industry

IBISWorld identifies 250 Key Success Factors for a business.The most important for the Steel Casting Industry are

  • Having a good reputation
  • Having contacts within key markets
  • Optimum capacity utilisation
  • IBISWorld analysts also discuss how external factors such as Industrial production index and Demand from water main, sewer system and related project construction in the Steel Casting industry impact industry performance... purchase to read more

     


    Industry ProductsRelated Reports

    What is the Steel Casting Industry?

    Companies in this industry operate foundries that cast steel.

    Industry Products
    Steel castings for machinery and mechanical applianceSteel castings for locomotives and rolling stockTube and pipe fittingsVehicle components
     
    Industry Activities
    Producing tube and pipe fittings of cast steelProducing steel castings for machinery and mechanical appliances Producing steel castings for locomotives and rolling stock Producing steel castings for vehicles


    Table of Contents
    About this Industry
    Industry Definition
    Main Activities
    Similar Industries
    Additional Resources
    Industry at a Glance
    Industry Statistics Snapshot
    Industry Structure
    Executive Summary
    Industry Performance
    Executive Summary
    Key External Drivers
  • Industrial production index
  • Demand from water main, sewer system and related project construction
  • Demand from railway and underground railway construction
  • Total value of construction
  • World price of steel
  • Demand from motor vehicle manufacturing
  • Current Performance
  • Downstream demand
  • Import competition
  • Profitability crushed
  • Chart: Revenue Growth
  • Industry Outlook
  • Domestic demand
  • International trade influences
  • Potential problems
  • Margins recover
  • Table: Steel Casting Industry Revenue Outlook
  • Industry Life Cycle
  • Life cycle reasons
  • Chart: Benchmarking - Steel Casting Industry Lifecycle vs The Economy
  • Products & Markets
    Supply Chains
  • Key Buying Industries
  • Compressor Manufacturing
  • Railway Equipment Manufacturing
  • Water Collection, Treatment & Supply
  • Sewerage
  • Key Selling Industries
  • Electricity Distribution
  • Iron & Steel Manufacturing
  • Products & Services
  • Tube and pipe fittings
  • Steel castings for machinery and mechanical appliance
  • Steel castings for locomotives and rolling stock
  • Other
  • Vehicle components
  • Chart: Steel Casting Industry Products and Services Segmentation
  • Demand Determinants
    Major Markets
  • Machinery manufacturers
  • Water industries
  • Railway operators and manufacturers of railway equipment
  • Other
  • Construction sector
  • Automobile manufacturers
  • Chart: Major Market Segmentation for the Steel Casting Industry
  • International Trade
    Business Locations
  • Chart: Business Locations by State
  • Competitive Landscape
    Market Share Concentration
    Key Success Factors
    Cost Structure Benchmarks
  • Profit
  • Purchases
  • Wages
  • Depreciation
  • Other
  • Chart: Cost Structure Benchmarking – Sector vs Steel Casting
  • Basis of Competition
    Barriers to Entry
  • Table: Barrier to Entry Checklist for the Steel Casting Industry
  • Industry Globalization
    Major Companies
    William Cook Holdings Ltd
    Sheffield Forgemasters Engineering Ltd
    Goodwin Steel Castings Ltd
  • Table: William Cook Holdings Ltd - financial performance
  • Table: Sheffield Forgemasters Engineering Ltd - financial performance
  • Table: Goodwin Steel Castings Ltd - financial performance
  • Operating Conditions
    Capital Intensity
  • Chart: Level of Capital Intensity for the Steel Casting Industry
  • Chart: Tools of the Trade: Growth Strategies for Success
  • Technology & Systems
    Revenue Volatility
  • Chart: Volatility vs Industry Growth
  • Regulation & Policy
    Industry Assistance
    Key Statistics
  • Table: Industry Data for the Steel Casting Industry
  • Includes:
  • Industry Revenue (2008-2022)
  • Industry Gross Product (2008-2022)
  • Establishments (2008-2022)
  • Businesses (2008-2022)
  • Employment (2008-2022)
  • Exports (2008-2022)
  • Imports (2008-2022)
  • Wages (2008-2022)
  • Table: Annual Percentage Change for Key Industry Data
  • Table: Key Ratios for Industry Key Data
  • Jargon & Glossary
    Alloy
  • A combination of two or more metallic elements.
  • Carbon Steel
  • A metal alloy comprising of iron and carbon.
  • Ferritic
  • A term usually applied to a group of stainless steels with a high chromium content and whose structure consists largely of ferrite.
  • Foundry
  • A workshop or factory for casting steel.
  • Metallurgy
  • The branch of science and technology concerned with the properties of metals and their production and purification.

  • Why Buy this Report?
    IBISWorld industry market research reports enable you to:
    • Find out about key industry trends
    • Identify threats and opportunities
    • Inform your decisions for marketing, strategy and planning
    • Quickly build competitive intelligence
    This report on Steel Casting:
    • Provides Market Size information to assist with planning and strategic decisions.
    • Includes the necessary information to perform SWOT, PEST and STEER analysis.
    • Helps you understand market dynamics to give you a deeper understanding of industry competition and the supply chain.
    • Analyses key performance and operational metrics so that you can benchmark against your own business, that of your customers’ businesses, or your competitors’ businesses.
    The Steel Casting market research report includes:
    • Historical data and analysis for the key drivers of this industry
    • A five-year forecast of the market and noted trends
    • Detailed research and segmentation for the main products and markets
    • An assessment of the competitive landscape and market shares for major companies
    • And of course, much more

    IBISWorld reports on thousands of industries around the world. Our clients rely on our information and data to stay up-to-date on industry trends across all industries. With this IBISWorld Industry Research Report on Steel Casting, you can expect thoroughly researched, reliable and current information that will help you to make faster, better business decisions.

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