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The impact of the European steel industry on the EU economy
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Oxford Economics and EUROFER have just released the Impact of the European Steel Industry on the EU Economy: An updated and extended analysis study. Commissioned by EUROFER, the study broadens and updates the analysis first conducted for the Association in 2017 and published in 2018. The study finds new figures for total employment, now 2.6 million direct, indirect and induced jobs for the sector. The steel industry’s Gross Value Added is now €148 billion overall, with a new tax revenue impact of €60 billion. The tax assessment is an addition to this report over the previous edition. The jobs multiple for the sector is nearly 8x, going down into customer sectors that are also analysed in this report for the first time.
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The European Steel Association (EUROFER) has called on EU lawmakers to urgently adopt the new steel trade measure proposed by the European Commission last year, warning that weakening the proposal would put the European steel industry at risk.
Industrial Accelerator Act launches lead markets - but more is needed to support green steel “Made in Europe”
Brussels, 26 February 2026 — Europe’s steel industry has warned that the current draft Industrial Accelerator Act could direct public support for low-carbon steel to producers outside the European Union, unless lawmakers include and tighten ‘Made in Europe’ provisions.
The European Steel Association (EUROFER)
172 Avenue de Cortenbergh
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Belgium
Email: mail@eurofer.eu
Phone: +32 (0) 2 738 79 20
