Since 2023, there has been a gradual recovery in the market for metal products for machine engineering in Ukraine. According to last year’s results, this sector has grown by 25-30%. Experts estimate that the volume of the Ukrainian market for metal rolling for machine engineering in 2024 will be approximately 140,000–145,000 tons.
This is reported by Business • Media
Main Factors Driving Demand Growth and Industry Prospects
The main driver of the increased demand for steel in machine engineering is the development of the defense industry. The sector is actively evolving: many enterprises are commissioning new equipment, leading foreign corporations are opening production facilities in Ukraine, and joint ventures are being established.
When discussing other segments of machine engineering, recovery is occurring at a significantly slower pace. There is less demand from the railway and agricultural machinery sectors, as well as from manufacturers of hydraulic equipment.
It is expected that in 2024, the pace of recovery in the machine engineering sector will continue, and sales of metal products will increase by at least 15%. Ukraine’s machine engineering potential is substantial: the country’s defense industry is capable of producing goods worth $35 billion annually, while the current figure stands at only $14 billion.