Industry Statistics and Trends
Iron Ore Mining in Europe key trends
China is a significant market for iron ore miners.
China is the largest iron ore consumer, consuming 70% of the world’s seaborne iron ore, according to S&P Global.
New mines create competition for European miners.
New projects in Australia and Brazil, the largest iron ore producers, increase competition for European iron ore miners.
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Iron Ore Mining in Europe
Industry Revenue
Total value and annual change from 2011-2029. Includes 5-year outlook.
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Iron Ore Mining in Europe market size (2019-2024)
Industry revenue has declined at a CAGR of 8.2 % over the past five years, to reach an estimated €9.1bn in 2024.
Trends and Insights
Increased steel production in China drives demand for iron ore
- Strict COVID restrictions globally, especially in China, restricted demand for iron ore. As China is the world's largest consumer of iron ore and consumes 70% of the world’s seaborne iron ore, according to S&P Global, the country's strict restrictions had a significant impact on revenue.
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Iron Ore Mining in Europe outlook (2024-2029)
Market size is projected to grow over the next five years.
Competition from other nations will hinder European iron ore miners
- Brazil, after Australia, is the second largest iron ore producer globally, so there’s fierce competition for European miners.
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Revenue
€9.1bn
Employees
137k
Wages
€X.Xbn
European Leaders & Laggards
Top 5 Countries
- Sweden +8.1%
- United Kingdom +7.4%
- North Macedonia +6.9%
- Bosnia & Herzegovina +6.8%
- France +6.8%
* CAGR values are for the years 2019-2024.
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Biggest companies in the Iron Ore Mining in Europe
| Company | Market Share (%)
2024 | Revenue (€m)
2024 | Profit (€m)
2024 | Profit Margin (%)
2024 |
|---|---|---|---|---|
ArcelorMittal SA | 76,351.8 | 10,003.2 | 13.1 | |
Luossavaara-Kiirunavaara AB | 4,358.9 | 1,993.4 | 45.7 | |
Metalloinvest Management Company LLC | 6,363.0 | 2,815.5 | 44.2 |
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Iron Ore Mining in Europe
Products & Services Segmentation
Industry revenue broken down by key product and services lines.
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Top Questions Answered in this Report
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What is the market size of the Iron Ore Mining industry in Europe in 2024?
The market size of the Iron Ore Mining industry in Europe is €9.1bn in 2024.
How many businesses are there in the Iron Ore Mining in Europe industry in 2024?
There are 331 businesses in the Iron Ore Mining industry in Europe, which has grown at a CAGR of 1.1 % between 2019 and 2024.
Has the Iron Ore Mining industry in Europe grown or declined over the past 5 years?
The market size of the Iron Ore Mining industry in Europe has been declining at a CAGR of 8.2 % between 2019 and 2024.
What is the forecast growth of the Iron Ore Mining industry in Europe over the next 5 years?
Over the next five years, the Iron Ore Mining industry in Europe is expected to grow.
What does the Iron Ore Mining in Europe include?
Iron ore fines and Lump ore are part of the Iron Ore Mining industry.
Which countries have the most businesses in the Iron Ore Mining industry in Europe?
The European country with the most businesses in the Iron Ore Mining industry is France.
How competitive is the Iron Ore Mining industry in Europe?
The level of competition is high and steady in the Iron Ore Mining industry in Europe.
Related Industries
This industry is covered in 37 countries
Table of Contents
About this industry
Industry definition
Companies in the industry extract iron ore and iron ore sands and carry out beneficiation processes to refine mined ore. Companies may also produce sinter and other agglomerates.
Related Terms
FinesIron Ore PelletsLump OreWhat's included in this industry?
Iron ore finesLump oreIron ore pelletsCompanies
ArcelorMittal SALuossavaara-Kiirunavaara ABMetalloinvest Management Company LLCIndustry Code
071 - Mining of iron ores in Europe
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Performance
Key Takeaways
Increased steel production in China drives demand for iron ore
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Revenue Highlights
Trends
- Revenue
- 2024 Revenue Growth
- Revenue Volatility
Employment Highlights
Trends
- Employees
- Employees per Business
- Revenue per Employee
Business Highlights
Trends
- Businesses
- Employees per Business
- Revenue per Business
Profit Highlights
Trends
- Total Profit
- Profit Margin
- Profit per Business
Current Performance
Charts
- Revenue in the Iron Ore Mining in Europe industry (2011 -2029)
- Employees in the Iron Ore Mining in Europe industry (2011 -2029)
- Business in the Iron Ore Mining in Europe industry (2011 -2029)
- Profit in the Iron Ore Mining in Europe industry (2011 -2029)
Analysis
What's driving current industry performance in the Iron Ore Mining in Europe industry?
Outlook
Analysis
What's driving the Iron Ore Mining in Europe industry outlook?
Volatility
Analysis
What influences volatility in the Iron Ore Mining in Europe industry?
Charts
- Industry Volatility vs. Revenue Growth Matrix
Life Cycle
Analysis
What determines the industry life cycle stage in the Iron Ore Mining in Europe industry?
Charts
- Industry Life Cycle Matrix
Products and Markets
Highlights
Trends
- Largest Market
- Product Innovation
Key Takeaways
Europe’s geology favours iron pellet production. Due to the high magnetite content in European iron ore, pellets require less energy to produce.
Products and Services
Charts
- Products and Services Segmentation
Analysis
How are the Iron Ore Mining in Europe industry's products and services performing?
Analysis
What are innovations in the Iron Ore Mining in Europe industry's products and services?
Major Markets
Charts
- Major Market Segmentation
Analysis
What influences demand in the Iron Ore Mining in Europe industry?
International Trade
Highlights
- Largest Importer
- Smallest Importer
- Total Imports into Europe
- Largest Exporter
- Smallest Exporter
- Total Exports into Europe
Heat maps
- Industry Concentration of Imports by Country
- Industry Concentration of Exports by Country
Data Tables
Value and annual change (%) included
- Number of Imports and Exports by European Country (2024)
Geographic Breakdown
Business Locations
Heat maps
- Share of Total Industry Revenue by Region (2024)
- Share of Total Industry Enterprises by Region (2024)
- Share of Total Industry Employment by Region (2024)
- Share of Total Industry Wages by Region (2024)
Industry Geographic Breakdown
Data Tables
Values and annual change provided for 37 European countries:
- Revenue (2024)
- IVA (2024)
- Enterprises (2024)
- Employment (2024)
- Exports (2024)
- Imports (2024)
Competitive Forces
Highlights
Trends
- Concentration
- Competition
- Barriers to Entry
- Substitutes
- Buyer Power
- Supplier Power
Key Takeaways
Large companies dominate the industry. Due to the high level of capital and financial resources required to start iron ore mining operations, larger players have gained a significant portion of market share.
Supply Chain
Charts
Buyer and supply industries
Companies
Market Share
Charts
- Industry Market Share by Company (2019-2024)
Companies
Data Tables
Top 8 companies by market share:
- Market share (2024)
- Revenue (2024)
- Profit (2024)
- Profit Margin (2024)
Data Tables
- Countries of operation for ArcelorMittal SA
- Countries of operation for Luossavaara-Kiirunavaara AB
- Countries of operation for Metalloinvest Management Company LLC
- Countries of operation for EVRAZ plc
- Countries of operation for Novolipetsk Steel PAO
- Countries of operation for Severstal PAO
- Countries of operation for Ferrexpo plc
- Countries of operation for Mechel PAO
External Environment
Highlights
Trends
- Regulation & Policy
- Assistance
Key Takeaways
Miners must follow strict regulations. Miners must ensure they have the correct permissions and mining leases and follow strict environmental regulations concerning pollution and the use of hazardous chemicals.
External Drivers
Analysis
What demographic and macroeconomic factors impact the Iron Ore Mining in Europe industry?
Financial Benchmarks
Highlights
Trends
- Profit Margin
- Average Wage
- Largest Cost
Key Takeaways
Rising iron prices support profitability. As iron ore prices expand, miners can sell their products at higher prices, supporting profitability.
Cost Structure
Charts
- Share of Economy vs. Investment Matrix
-
Industry Cost Structure Benchmarks:
- Marketing
- Depreciation
- Profit
- Purchases
- Wages
- Rent
- Utilities
- Other
Analysis
What trends impact cost in the Iron Ore Mining in Europe industry?
Key Ratios
Data tables
- IVA/Revenue (2014-2029)
- Imports/Demand (2014-2029)
- Exports/Revenue (2014-2029)
- Revenue per Employee (2014-2029)
- Wages/Revenue (2014-2029)
- Employees per Establishment (2014-2029)
- Average Wage (2014-2029)
Country Benchmarks
European Leaders & Laggards
Data Tables
Top and boottom five countries listed for each:
- Revenue Growth (2024)
- Business Growth (2024)
- Job Growth (2024)
European Country Performance
Data Tables
Rankings available for 37 countries. Statistics ranked include:
- IVA/Revenue (2024)
- Imports/Demand (2024)
- Exports/Revenue (2024)
- Revenue per Employee (2024)
- Wages/Revenue (2024)
- Employees per Establishment (2024)
- Average Wage (2024)
Structural Comparison
Data Tables
Trends in 37 countries benchmarked against trends in Europe
- Concentration
- Competition
- Barriers to Entry
- Buyer Power
- Supplier Power
- Volatility
- Capital Intensity
- Innovation
- Life Cycle
Key Statistics
Industry Data
Data Tables
Including values and annual change:
- Revenue (2014-2029)
- IVA (2014-2029)
- Establishments (2014-2029)
- Enterprises (2014-2029)
- Employment (2014-2029)
- Exports (2014-2029)
- Imports (2014-2029)
- Wages (2014-2029)
Methodology
Where does IBISWorld source its data?
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Each industry report incorporates data and research from government databases, industry-specific sources, industry contacts, and IBISWorld's proprietary database of statistics and analysis to provide balanced, independent and accurate insights.
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