Metallurgy & Mining Industry

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Statistics, news & updates: everything you need to know about the Industrial Equipment Industry in India



The increasing demand for infrastructure projects and its renovation has largely affected India’s Metallurgy industry growth. However, the industry is supplying raw materials to not just these two sectors. Rather, it is widely inter-related with several industries as the material provider. In fact, mining is the backbone for providing raw materials to a lot of industries. India is in a good strategic location for exports to developed as well as emerging Asian markets. The growth of machinery in this sector is directly interlinked with the growth of India’s economy. Additionally, it is indirectly linked with infrastructure growth. Most international machinery technology leaders already have or are planning to set up their own manufacturing facilities in India. The comparatively low per-capita consumption of steel and increasing demand for minerals and metals leaves room for entering or expanding business in these sectors. With the growth in the Metallurgy & Mining Industries, the demand for innovative and effective machinery and equipment is increasing as the technology barriers in India are still high.
Covid Impact
India holds a fair advantage in production and conversion costs in steel and alumina. Coal production in the country stood at 730.87 million tonnes (MT) in FY20 and reached 620.10 MT in FY21 (as of February 2021). Iron ore production in the country stood at 112 million tonnes in FY21 (up to November 2020). The COVID-19 pandemic has had an immediate impact on the Indian economy and that impact goes across all industries, including mining. Some industry players in mining will be more affected than others by the new set of challenges facing the industry. Also, India’s metal sector has been severely impacted by COVID-19 in the year to date, and we expect metal production to experience a slow recovery back to pre-pandemic levels in the coming quarters. While the mining and metals sector was allowed to continue operations, worker absenteeism was rife and most companies operated at 60 percent of capacity. The near-term outlook for the mining industry remains strong as pent-up demand emerges post-pandemic while prices are expected to remain elevated. In the longer term, the sector will capitalize on raw material needs critical to the global energy transition efforts.

Market Stats

  • India is home to around 1,531 operating mines.
  • India produces 95 minerals: 4 fuel-related minerals, 10 metallic minerals, 23 non-metallic minerals, 3 atomic minerals and 55 minor minerals.
  • India became the world second largest crude steel producer in 2018 with output of 106.5 million tonnes.
  • Over 2030-31, crude steel demand/production is forecasted to reach 255 MT.
  • Coal production grew at CAGR 4.6% over FY14-FY19 (to 730.35 MT). Further, it is expected to grow 6 to 7% over FY20.
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