Page 56 - TCE Annual Report 2024-2025

Overview Leadership Messages Governance Strategic Insights Business Review People & Community

Sector
Mining and Metallurgy

Business Review

The Mining and Metallurgy Business Unit (MMBU) at Tata Consulting Engineers continues to
anchor itself as a critical enabler of India’s industrial growth and global sustainability transition.
Drawing upon deep technical expertise and domain knowledge, the business unit delivers
cutting-edge engineering solutions across ferrous and non-ferrous sectors. MMBU operates at
the intersection of traditional materials engineering and modern innovation, offering capabilities
that align with global sustainability initiatives, resource efficiency, and the growing emphasis on a
circular economy.

Industry Trends and Market Outlook
2024-25 Performance The global mining and metallurgy sector is undergoing
a defining transformation, balancing the dual
Highlights imperatives of driving industrial growth and enabling
the energy transition. The sector’s future is being
shaped by evolving demand patterns, aggressive
decarbonisation targets, and rapid technological
innovation across the metals value chain.
In the ferrous space, steel continues to anchor
14% share in total infrastructure, construction, and manufacturing
revenue
industries worldwide. Global steel demand is expected
to grow by 1.2 per cent in 2025, with the industry value
projected to reach USD 1.8 trillion, and longer-term
forecasts point to an expansion to USD 2.3 trillion by 2030
at a compound annual growth rate of over four per cent.
11% share in total The industry is shifting steadily toward lower-carbon
acquisition
production methods, with Electric Arc Furnace (EAF)
technology emerging as a preferred route because of
its reliance on scrap recycling and its ability to deliver
significant emissions reductions.

648 workforce on Simultaneously, hydrogen-based direct reduced iron
(DRI) processes are being piloted and scaled up in
31st March 2025
developed markets, backed by strong ecosystems for
renewable energy, hydrogen, and scrap availability. India
has emerged as a key growth driver within this global
context. Crude steel production reached 143 million
5,613 crore worth value tonnes in FY24, growing 12.6 per cent year-on-year.
engineering for customer
With the government’s stated ambition to scale capacity
to 300 million tonnes by 2030, the industry is prioritising
high-strength low-alloy steel production and innovative
fossil-fuel-free steelmaking routes, aligned to its long-
term decarbonisation targets.

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