Iron and Steel Scrap Recycling Market Size, Share, Growth, and Industry Analysis, By Types (Heavy Melting Steel, Old Car Bodies, Cast Iron, Pressing Steel, Manganese Steel, Rails), By Applications (Building & Construction, Automotive, Electrical & Electronics, Industrial Machinery, Others) , and Regional Insights and Forecast to 2035

Iron and Steel Scrap Recycling Market Size

Global Iron and Steel Scrap Recycling Market size was valued at USD 463.85 billion in 2025 and is projected to reach USD 507.59 billion in 2026 and USD 555.45 billion in 2027, ultimately expanding to USD 1142.19 billion by 2035. The market is expected to exhibit a CAGR of 9.43 % during the forecast period from 2026 to 2035. Increasing adoption of recycled steel in manufacturing processes contributes to more than 40% of total steel production globally. Recycling iron and steel reduces energy consumption by nearly 60% compared with primary steelmaking. Additionally, over 75% of steel materials remain recyclable at the end of their lifecycle, strengthening circular economy initiatives. Growing industrialization and infrastructure development continue to increase scrap recycling demand across construction, automotive, and heavy machinery sectors worldwide.

The US Iron and Steel Scrap Recycling Market is witnessing steady expansion driven by advanced recycling infrastructure and high scrap utilization in steel manufacturing. Nearly 70% of steel production facilities in the country rely on recycled scrap materials as a primary raw material source. Electric arc furnace production accounts for more than 65% of steel output, significantly increasing scrap consumption. Approximately 80% of end-of-life vehicles are processed through recycling channels, generating large volumes of reusable steel materials. Industrial recycling operations achieve recovery efficiency exceeding 90%, supporting sustainable manufacturing practices. Additionally, more than 55% of construction steel used in infrastructure projects contains recycled metal content, reinforcing the strong role of scrap recycling within the US steel supply chain.

Key Findings

• Market Size: Global Iron and Steel Scrap Recycling Market valued at USD 463.85 billion in 2025, reaching USD 507.59 billion in 2026 and USD 1142.19 billion by 2035 with 9.43 % growth.
• Growth Drivers: Over 60% energy savings from recycling, 75% steel recyclability, 55% manufacturing adoption, 40% scrap-based steel production, and 35% industrial waste recovery improvements.
• Trends: Around 65% electric furnace usage, 70% recycling efficiency improvement, 45% automation adoption, 50% circular economy integration, and 30% industrial scrap processing growth.
• Key Players: Ferrous Processing & Trading Co. (FTP), Simsmetal America, Commercial Metals Co. (CMC), Schnitzer Steel Products, OmniSource Corp. & more.
• Regional Insights: Asia-Pacific holds 38% share driven by industrial demand, North America 27% supported by recycling infrastructure, Europe 25% with sustainability policies, Middle East & Africa 10% through infrastructure growth.
• Challenges: Nearly 30% scrap contamination during collection, 20% operational cost increase, 18% logistics inefficiencies, 25% technology upgrade requirements, and 15% sorting limitations.
• Industry Impact: Recycling reduces energy use by 60%, lowers emissions by 50%, improves material recovery by 85%, increases manufacturing efficiency by 35%, and supports 40% steel production.
• Recent Developments: Automation adoption increased 35%, recycling efficiency improved 25%, facility upgrades expanded capacity 20%, scrap sorting accuracy improved 30%, and digital monitoring adoption reached 22%.

Iron and steel scrap recycling plays a critical role in global metal supply chains by ensuring long-term resource efficiency and sustainable steel production. More than 80% of steel products can be recovered and reused multiple times without losing structural quality. Recycling facilities process Billions of tons of scrap generated from construction demolition, industrial manufacturing waste, and end-of-life vehicles. Approximately 65% of recovered scrap originates from construction and infrastructure replacement activities, while nearly 25% comes from automotive dismantling operations. Advanced metal separation technologies allow recycling plants to achieve recovery efficiency exceeding 90%, significantly reducing landfill waste and raw material extraction. Increasing industrial reliance on recycled steel continues to strengthen the importance of scrap recycling within global manufacturing ecosystems.

Iron and Steel Scrap Recycling Market Trends

The iron and steel scrap recycling market is experiencing notable transformation as industries increasingly focus on circular economy practices and sustainable metal sourcing. A significant percentage of global steel production now depends on recycled scrap materials, with more than 40% of total steel manufacturing relying on recycled inputs. Electric arc furnace (EAF) technology, which heavily utilizes scrap metal, accounts for nearly 30% of global steel output, highlighting the growing preference for scrap-based steelmaking processes. Around 55% of steel products worldwide are estimated to be recyclable at the end of their lifecycle, making iron and steel among the most recycled industrial materials.

Industrial sectors such as construction, automotive, and machinery manufacturing contribute more than 60% of the total scrap generation worldwide. In the automotive sector alone, approximately 25% to 30% of the steel used in vehicles comes from recycled scrap, demonstrating the sector’s dependence on recycled metals. Additionally, recycling iron and steel scrap reduces energy consumption by nearly 60% to 70% compared with producing steel from raw iron ore, making it a preferred option for energy-efficient production. More than 75% of all steel ever produced remains in use or available for recycling, reflecting the long lifecycle and strong recyclability of the material.

Environmental benefits are another major trend driving the iron and steel scrap recycling market. Recycling steel reduces greenhouse gas emissions by approximately 50% compared with traditional steel production methods. Scrap processing facilities have also improved recovery efficiency, with modern recycling plants achieving material recovery rates above 85%. Additionally, over 35% of industrial manufacturers are increasing their reliance on recycled metals to meet sustainability commitments and regulatory environmental targets. These developments indicate strong industry momentum toward expanding scrap recycling infrastructure and integrating recycled metals into global steel supply chains.

Iron and Steel Scrap Recycling Market Dynamics

OPPORTUNITY

Expansion of Circular Economy Practices in Steel Manufacturing

The expansion of circular economy strategies is creating strong opportunities for the iron and steel scrap recycling market. Nearly 70% of global manufacturing industries are integrating recycling practices to reduce raw material dependency and minimize environmental impact. Iron and steel scrap recycling can decrease energy consumption by approximately 60%, encouraging manufacturers to increase scrap usage in steel production processes. Around 45% of steel producers have increased the proportion of recycled scrap in their manufacturing mix as sustainability regulations become stricter. Additionally, more than 50% of industrial waste management facilities are investing in advanced metal recovery technologies that enhance scrap sorting and processing efficiency. Construction demolition activities generate nearly 35% of the available scrap supply, offering consistent feedstock for recycling operations. The integration of automated scrap processing technologies has improved recycling efficiency by over 30%, strengthening opportunities for companies operating in the iron and steel scrap recycling market.

DRIVERS

Increasing Demand for Sustainable Steel Production

Growing demand for environmentally sustainable steel production is a major driver of the iron and steel scrap recycling market. Recycling steel can reduce carbon emissions by nearly 50% compared with conventional steel manufacturing processes. Approximately 40% of steel production globally now utilizes recycled scrap, demonstrating a significant shift toward sustainable raw material sourcing. Industrial sectors such as automotive, construction, and heavy machinery collectively contribute more than 65% of total demand for recycled steel materials. Additionally, nearly 55% of global manufacturers are actively implementing recycling strategies to meet environmental sustainability goals. The use of electric arc furnace technology, which relies heavily on scrap materials, has increased by more than 30% across steel manufacturing plants. Recycling iron and steel also reduces water consumption by approximately 40%, further encouraging industries to adopt scrap-based steel production methods and strengthening the overall growth of the iron and steel scrap recycling market.

RESTRAINTS

"Inconsistent Scrap Supply and Quality Issues"

The iron and steel scrap recycling market faces restraints related to inconsistent scrap availability and varying material quality. Approximately 30% of scrap collected from demolition and industrial waste streams contains impurities that require additional processing before reuse. Nearly 25% of recycling facilities report operational inefficiencies due to mixed metal contamination during scrap collection. In some regions, less than 50% of available scrap is properly collected and processed, limiting the potential recycling capacity of the industry. Additionally, around 20% of recycling plants experience delays caused by inadequate sorting technologies and logistical challenges in scrap transportation. Variations in scrap composition can reduce processing efficiency by nearly 15%, affecting the productivity of steel manufacturers relying on recycled materials. These factors collectively create operational constraints for recycling companies attempting to maintain consistent supply and high-quality recycled steel outputs.

CHALLENGE

"Rising Processing Costs and Complex Recycling Infrastructure"

The iron and steel scrap recycling market also faces challenges associated with increasing operational costs and complex recycling infrastructure requirements. Advanced scrap processing equipment and automated sorting systems can increase facility operating expenses by nearly 20%. Around 35% of recycling companies report higher transportation and logistics costs due to the bulky nature of scrap metal materials. Additionally, approximately 28% of scrap recycling facilities require technological upgrades to improve recovery efficiency and reduce contamination levels. Energy consumption during scrap processing operations accounts for nearly 18% of total operational expenditure in many recycling plants. Environmental compliance requirements have also increased operational complexity, with nearly 22% of recycling facilities investing in emission control technologies. These financial and operational challenges create barriers for smaller recycling firms and limit the expansion of recycling infrastructure in emerging industrial regions.

Segmentation Analysis

The Iron and Steel Scrap Recycling Market is segmented by type and application, reflecting the diverse sources of scrap materials and the wide range of industries utilizing recycled metals. The market was valued at USD 463.85 Billion in 2025 and reached USD 507.59 Billion in 2026, with projections indicating it will reach USD 1142.19 Billion by 2035, supported by a CAGR of 9.43% during the forecast period. Increasing adoption of recycled metals in steel manufacturing has resulted in higher demand for multiple scrap categories including heavy melting steel, old car bodies, and pressing steel. Industrial recycling operations recover nearly 85% of usable metal from processed scrap, improving material efficiency across manufacturing sectors. Around 60% of recycled steel is utilized in construction and infrastructure activities, while approximately 25% supports automotive manufacturing. Rising environmental regulations encouraging recycling have also increased the share of scrap utilization in electric arc furnace steel production by more than 40%, strengthening the segmentation structure of the global iron and steel scrap recycling market.

By Type

Heavy Melting Steel

Heavy melting steel represents one of the most widely recycled forms of scrap metal due to its high durability and compatibility with electric arc furnace production. Nearly 35% of total scrap collected globally falls under heavy melting steel categories such as structural beams, machinery components, and industrial equipment. Recycling facilities report recovery efficiency above 90% when processing this type of scrap, making it highly valuable for steel manufacturers seeking consistent quality recycled metal inputs.

Heavy Melting Steel held the largest share in the Iron and Steel Scrap Recycling Market, accounting for USD 177.64 Billion in 2025, representing 38.30% of the total market. This segment is expected to grow at a CAGR of 9.61% during the forecast period due to strong demand from construction steel production and infrastructure development activities.

Old Car Bodies

Old car bodies contribute a significant portion of recyclable steel scrap as the automotive sector generates large quantities of end-of-life vehicles. Approximately 20% of total scrap metal supply originates from dismantled vehicles, with over 80% of a vehicle’s metal components recoverable through recycling processes. Modern automotive recycling operations are capable of extracting more than 75% reusable steel material from car body frames and structural parts.

Old Car Bodies accounted for USD 97.41 Billion in 2025, representing 21.00% of the market share in the Iron and Steel Scrap Recycling Market. This segment is projected to grow at a CAGR of 9.25% driven by rising vehicle recycling programs and increased automotive manufacturing reliance on recycled steel materials.

Cast Iron

Cast iron scrap is widely generated from industrial machinery, pipelines, and heavy manufacturing equipment. Nearly 12% of global scrap supply consists of cast iron materials that are recycled and reused in manufacturing cast components and industrial products. Recycling cast iron reduces energy consumption by approximately 55% compared with producing new cast iron from raw ore, making it an efficient material recovery option.

Cast Iron accounted for USD 64.94 Billion in 2025 in the Iron and Steel Scrap Recycling Market, representing 14.00% of the total share. The segment is anticipated to expand at a CAGR of 9.12% supported by demand from machinery manufacturing and industrial equipment sectors.

Pressing Steel

Pressing steel scrap originates from manufacturing waste generated during sheet metal forming processes in automotive, appliance, and machinery production. Around 10% to 12% of manufacturing scrap is categorized as pressing steel, which can be directly reused in steelmaking operations. Recycling facilities report recovery rates exceeding 85% for pressed sheet metal scrap, making it an important feedstock for recycled steel production.

Pressing Steel generated USD 46.38 Billion in 2025, accounting for 10.00% of the Iron and Steel Scrap Recycling Market share. The segment is forecast to grow at a CAGR of 9.35% due to the increasing recycling of manufacturing waste from automotive and industrial production facilities.

Manganese Steel

Manganese steel scrap is produced from mining equipment, rail components, and heavy industrial machinery. Approximately 8% of total scrap metal processed globally includes manganese alloy steel materials. Recycling this type of scrap helps manufacturers recover high-strength alloy materials that can be reused in wear-resistant components and heavy-duty industrial applications.

Manganese Steel accounted for USD 37.11 Billion in 2025 in the Iron and Steel Scrap Recycling Market, representing 8.00% of total share. This segment is expected to grow at a CAGR of 9.18% supported by rising demand for recycled alloy steels in industrial machinery production.

Rails

Railway infrastructure replacement and modernization generate substantial volumes of rail steel scrap. Approximately 6% to 7% of recyclable steel materials originate from rail track replacement projects and transportation infrastructure upgrades. Rail steel scrap is valued for its high carbon content and strength, allowing efficient reuse in new rail manufacturing and structural steel production.

Rails accounted for USD 40.37 Billion in 2025 in the Iron and Steel Scrap Recycling Market, representing 8.70% of the market share. The segment is projected to grow at a CAGR of 9.28% driven by infrastructure renovation projects and railway network expansion activities.

By Application

Building & Construction

The building and construction sector represents the largest consumer of recycled iron and steel scrap materials due to the extensive use of structural steel in infrastructure projects. Nearly 60% of recycled steel materials are used in construction activities including bridges, commercial buildings, and industrial structures. Recycling steel for construction reduces material waste by more than 70% and lowers energy consumption associated with primary steel production.

Building & Construction held the largest share in the Iron and Steel Scrap Recycling Market, accounting for USD 231.92 Billion in 2025, representing 50.00% of the total market. This segment is expected to grow at a CAGR of 9.55% driven by expanding infrastructure development and urban construction activities worldwide.

Automotive

The automotive sector relies heavily on recycled steel to manufacture vehicle frames, engine components, and structural parts. Approximately 25% of the steel used in vehicle manufacturing originates from recycled scrap materials. Recycling automotive steel reduces production energy requirements by nearly 65% compared with producing steel from virgin iron ore.

Automotive accounted for USD 115.96 Billion in 2025, representing 25.00% of the Iron and Steel Scrap Recycling Market share. This segment is expected to grow at a CAGR of 9.41% supported by increasing vehicle recycling programs and sustainable manufacturing initiatives.

Electrical & Electronics

The electrical and electronics sector utilizes recycled steel and metal components in appliances, industrial electronics enclosures, and electrical infrastructure systems. Around 8% to 10% of recycled steel materials are directed toward electronics manufacturing applications. Recycling metals for electronics production helps reduce material extraction and lowers environmental impact.

Electrical & Electronics generated USD 46.38 Billion in 2025 in the Iron and Steel Scrap Recycling Market, representing 10.00% of the total share. This segment is projected to grow at a CAGR of 9.21% due to rising demand for consumer electronics and electrical equipment production.

Industrial Machinery

Industrial machinery manufacturing consumes recycled steel for equipment frames, machine components, and heavy industrial systems. Approximately 9% to 10% of recycled steel scrap is utilized in machinery production processes. Recycled steel provides strong mechanical properties suitable for manufacturing durable industrial equipment.

Industrial Machinery accounted for USD 41.75 Billion in 2025, representing 9.00% of the Iron and Steel Scrap Recycling Market share. The segment is expected to grow at a CAGR of 9.33% supported by expanding industrial production activities and equipment manufacturing demand.

Others

Other applications of recycled iron and steel scrap include packaging equipment, transportation infrastructure components, energy sector equipment, and consumer products manufacturing. Nearly 6% of recycled steel materials are distributed across these diverse applications. Recycling metals in these industries helps improve resource efficiency and reduces dependence on raw iron ore extraction.

Others accounted for USD 27.83 Billion in 2025 in the Iron and Steel Scrap Recycling Market, representing 6.00% of the total share. This segment is expected to grow at a CAGR of 9.14% driven by expanding use of recycled metals across various manufacturing sectors.

Iron and Steel Scrap Recycling Market Regional Outlook

The Iron and Steel Scrap Recycling Market demonstrates strong regional distribution due to varying industrial development levels and recycling infrastructure across major economies. The market size reached USD 463.85 Billion in 2025 and expanded to USD 507.59 Billion in 2026, with projections indicating it will reach USD 1142.19 Billion by 2035, supported by a CAGR of 9.43% during the forecast period. North America accounts for approximately 27% of global recycled steel demand due to strong industrial recycling programs. Europe contributes about 25% share supported by strict environmental policies and advanced metal recovery technologies. Asia-Pacific dominates with around 38% share due to large steel production capacity and high scrap consumption in manufacturing. Middle East & Africa represent roughly 10% share as infrastructure development and industrial recycling capacity expand across emerging economies.

North America

North America maintains a strong recycling ecosystem supported by advanced scrap collection networks and metal recovery technologies. Nearly 70% of steel production facilities in the region utilize recycled scrap as a primary raw material source. Electric arc furnace steel production accounts for more than 65% of regional steel output, significantly increasing scrap consumption. Approximately 80% of end-of-life vehicles are processed through recycling systems, generating large volumes of recyclable steel materials. Industrial recycling plants in the region achieve recovery efficiency above 90%, ensuring effective reuse of scrap metals. The region held a market size of USD 137.05 Billion in 2026, representing 27% of the global Iron and Steel Scrap Recycling Market share, supported by strong recycling infrastructure and industrial metal demand.

Europe

Europe represents a major hub for metal recycling due to strict environmental regulations encouraging sustainable resource utilization. More than 50% of steel produced in the region relies on recycled scrap inputs. Industrial recycling systems process nearly 85% of available steel scrap generated from construction demolition and automotive recycling activities. Advanced sorting technologies allow recycling facilities to achieve recovery rates exceeding 88%. Around 60% of steel used in infrastructure projects across the region includes recycled content. Europe accounted for USD 126.90 Billion in 2026 in the Iron and Steel Scrap Recycling Market, representing 25% of global market share supported by strong circular economy policies and well-developed recycling infrastructure.

Asia-Pacific

Asia-Pacific represents the largest regional market for iron and steel scrap recycling due to extensive industrial manufacturing and large-scale steel production activities. Nearly 55% of global steel demand originates from countries within the region, driving significant scrap metal recycling operations. Construction and infrastructure development account for approximately 65% of recycled steel usage across regional economies. Industrial recycling facilities process more than 40% of global scrap supply due to strong steel manufacturing capacity. Recycling initiatives have increased scrap utilization in steel production by nearly 35% across several countries. Asia-Pacific held a market size of USD 192.88 Billion in 2026, representing 38% share of the global Iron and Steel Scrap Recycling Market.

Middle East & Africa

The Middle East & Africa region is experiencing growing demand for recycled steel materials due to increasing infrastructure development and industrial expansion. Approximately 30% of steel used in construction projects across the region now includes recycled scrap content. Recycling facilities have improved processing efficiency by nearly 25% through modern scrap sorting and metal recovery technologies. Industrial recycling programs have increased scrap collection rates by more than 20% in several emerging economies. Infrastructure modernization and transportation projects continue to generate large volumes of recyclable metal waste. The region accounted for USD 50.76 Billion in 2026 in the Iron and Steel Scrap Recycling Market, representing 10% of global market share as recycling infrastructure continues expanding.

List of Key Iron and Steel Scrap Recycling Market Companies Profiled

Investment Analysis and Opportunities in Iron and Steel Scrap Recycling Market

Investment activity in the iron and steel scrap recycling market has increased significantly as industries shift toward sustainable material sourcing and circular economy practices. Nearly 45% of steel manufacturers are increasing investments in scrap processing infrastructure to improve raw material efficiency and reduce dependence on primary iron ore. Automated metal sorting technologies have improved scrap recovery efficiency by approximately 30%, encouraging recycling companies to expand processing capacity. Around 40% of recycling facilities are adopting advanced shredding and separation technologies to improve processing speed and material purity. Infrastructure modernization projects generate nearly 35% of recyclable steel scrap, creating long-term investment opportunities for recycling companies.

New Products Development

New product development within the iron and steel scrap recycling market focuses on improving material recovery technologies, processing efficiency, and recycling automation. More than 35% of recycling facilities are introducing automated sorting systems capable of separating multiple metal grades with accuracy levels exceeding 90%. Advanced scrap shredding technologies have increased metal recovery efficiency by nearly 28%, enabling recyclers to process larger scrap volumes. Approximately 40% of equipment manufacturers are developing high-capacity recycling machinery designed to handle heavy industrial scrap materials. Innovative sensor-based sorting systems have improved contamination detection by nearly 25%, ensuring higher purity levels in recycled steel output. Additionally, digital monitoring platforms have enhanced recycling facility productivity by nearly 20% through real-time scrap processing analytics.

Recent Developments

• Schnitzer Steel facility expansion: In 2024 the company upgraded recycling processing systems, increasing scrap processing efficiency by nearly 20% while improving metal recovery rates to above 90% through advanced automated sorting technology.
• Commercial Metals recycling network expansion: In 2024 the company expanded scrap collection facilities across multiple regions, improving scrap sourcing capacity by approximately 18% and increasing recycling processing output across steel manufacturing operations.
• Simsmetal technology upgrade: In 2024 the company introduced sensor-based metal separation systems improving contamination detection accuracy by nearly 25% and increasing recycled metal recovery efficiency across its processing facilities.
• American Iron & Metal recycling optimization: In 2024 the company implemented digital scrap tracking systems that improved operational efficiency by nearly 15% and enhanced recycling logistics management across scrap processing centers.
• OmniSource Corp. processing modernization: In 2024 the company installed advanced shredding equipment capable of increasing scrap processing capacity by approximately 22% while improving recovery of reusable metal materials.

Report Coverage

The Iron and Steel Scrap Recycling Market report provides a comprehensive analysis of global industry dynamics, technological developments, and competitive strategies shaping the recycling sector. The report evaluates key factors influencing scrap collection, processing efficiency, and industrial utilization across major manufacturing industries. Approximately 40% of global steel production relies on recycled scrap materials, highlighting the importance of efficient recycling infrastructure. The study includes an extensive SWOT analysis identifying strengths such as high material recyclability exceeding 90%, strong industrial demand for recycled metals, and increasing adoption of electric arc furnace steel production technologies.

Threat analysis within the report includes rising operational costs affecting approximately 20% of recycling facilities and logistical challenges associated with transporting heavy scrap materials. Environmental regulations are also influencing operational requirements, with nearly 22% of recycling plants implementing emission control systems. Despite these challenges, the global iron and steel scrap recycling market continues to expand due to growing sustainability initiatives, increased scrap utilization in manufacturing, and the long lifecycle of steel products that allows efficient recycling across multiple industrial applications.

Iron and Steel Scrap Recycling Market Report Coverage

REPORT COVERAGE	DETAILS
Market Size Value In	USD 463.85 Billion in 2026
Market Size Value By	USD 1142.19 Billion by 2035
Growth Rate	CAGR of 9.43% from 2026 - 2035
Forecast Period	2026 - 2035
Base Year	2025
Historical Data Available	Yes
Regional Scope	Global
Segments Covered	By Type : Heavy Melting Steel Old Car Bodies Cast Iron Pressing Steel Manganese Steel Rails By Application : Building & Construction Automotive Electrical & Electronics Industrial Machinery Others
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Frequently Asked Questions

• What value is the Iron and Steel Scrap Recycling Market expected to touch by 2035?

  The global Iron and Steel Scrap Recycling Market is expected to reach USD 1142.19 Billion by 2035.

• What CAGR is the Iron and Steel Scrap Recycling Market expected to exhibit by 2035?

  The Iron and Steel Scrap Recycling Market is expected to exhibit a CAGR of 9.43% by 2035.

• Who are the top players in the Iron and Steel Scrap Recycling Market?

  Ferrous Processing & Trading Co. (FTP), Metal Management Inc., Simsmetal America, Mervis Industries, American Iron & Metal, OmniSource Corp., Commercial Metals Co. (CMC), American Iron & Metal Co, David J. Joseph Co. (DJJ), Galamba Metals Group, AMG Resources Corp., Joseph Behr & Sons Inc., Schnitzer Steel Products, Tube City, PSC Metals, Hugo Neu Corp., Camden Iron & Metal Inc., Alter Scrap Processing

• What was the value of the Iron and Steel Scrap Recycling Market in 2025?

  In 2025, the Iron and Steel Scrap Recycling Market value stood at USD 463.85 Billion.

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