The raw steel production in Kenya has shown varied growth over the past decade, reaching 493 Thousand Metric Tons in 2023. From 2013 to 2023, the sector noted a compounded annual growth rate (CAGR) of 2.77%, with significant fluctuations, including a -14.76% decline in 2020 followed by a strong recovery of 23.65% in 2021. Growth has stabilized in recent years with a 2.49% increase in 2023. The forecasted data for 2024-2028 indicates a slower but consistent growth trajectory with a forecasted 5-year CAGR of 1.83% and an overall growth rate of 9.49% by 2028.
Future trends to watch for include:
- Increased investments in infrastructure projects could spur demand for raw steel.
- Government policies on industrialization and manufacturing incentives.
- Global steel market dynamics influencing local production capabilities and prices.
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