All updated as on -
In 2022, the structural steel market was estimated to be worth $105.2 billion. From 2023 to 2030, the structural steel market is expected to increase from USD 110.9 Billion in 2023 to USD 168.8811734 billion, a CAGR (compound annual growth rate) of 8.21%. Energy conservation, waste reduction in construction, stringent laws on carbon emissions, and the need to combat fast deforestation are just a few of the causes that are driving the market. Opportunities for novel and environmentally friendly products and technology are created as a result of these forces pulling the sector in the direction of sustainable practises and solutions.
An increase in the number of environmentally conscious buildings in the country is expected to fuel demand for structural steel in the coming years. In the United States, LEED-certified structures consume 11% less water and 25% less energy, as reported by the World Green Building Council. Focus in the country is shifting towards the construction of green buildings because of their positive effects on the environment.
In terms of land area, California has the largest part of the green construction market in the United States, and the state is on track to become energy neutral by the year 2030. However, in 2020, the COVID-19 pandemic stymied market expansion. In 2020, there was a 2.4% drop in the demand for completed steel, as reported by the World Steel Association. The supply chain was thrown off by the pandemic's effects on manufacturing and labour availability. The measures of confinement halted consumer activity, which lowered demand.
Stainless steel is a crucial component of structural steel, and its popularity is on the rise as the manufacturing sector expands. The fact that structural steel can be recycled helps it meet the needs of the growing green building industry. Large-scale building and infrastructure projects in countries like India and China fuel demand for structural steel elsewhere. Structural steel in construction is in high demand because of government measures to improve living standards. The widespread adoption of structural steel for large-scale facades and walls also fuels the industry's rapid expansion. Market CAGR is being driven by this aspect.
During the forecast period, the residential sector is expected to account for the greatest share of the structural steel market. The rising popularity of apartment towers and single-family homes in emerging markets is largely responsible for this expansion. During the forecast period, the non-residential sector is expected to represent the second biggest market share for structural steel. The demand for industrial and infrastructure projects is rising, which is driving this expansion.
Another factor propelling the structural steel market is the rising demand for the material due to its widespread application in the construction of office and residential buildings around the world. The structural steel market could be propelled by rising demand from manufacturing sectors for flat items such as stainless steel. Since structural steel can be recycled, its market is growing as green building construction becomes more popular. Market growth for structural steel may also benefit from rising building and infrastructure spending in countries like India and China. Demand for structural steel in the building industry has risen as a result of the government's push to improve housing conditions worldwide. Large scale walls, facades, and other construction components are often made of structural steel. The construction of new office spaces by real estate developers is a key factor fueling demand for structural steel. As a result, these elements fuel the Structural Steel industry's bottom line.
Report Coverage
Global Structural Steel research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Structural Steel report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Structural Steel competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Structural Steel market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Structural Steel market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Structural Steel market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Arcelor Mittal S.A., Hebei Group, Baosteel Group Co., Nippon Steel & Sumitomo Metal Corporation, POSCO, Wuhan Group, Tata Limited, Anshan Iron & Steel Group Corporation, Anyang Group Co. Ltd., Baogang Group, Hyundai Steel Co. Ltd., Bohai Group
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Structural Steel market based on the below-mentioned segments:
Global Structural Steel Market, By Product
Heavy Sectional Steel
Light Sectional Steel
Rebar
Global Structural Steel market, By Application
Residential
Non-Residential
Infrastructure
Global Structural Steel market, Regional Analysis
An increase in the number of environmentally conscious buildings in the country is expected to fuel demand for structural steel in the coming years. In the United States, LEED-certified structures consume 11% less water and 25% less energy, as reported by the World Green Building Council. Focus in the country is shifting towards the construction of green buildings because of their positive effects on the environment.
In terms of land area, California has the largest part of the green construction market in the United States, and the state is on track to become energy neutral by the year 2030. However, in 2020, the COVID-19 pandemic stymied market expansion. In 2020, there was a 2.4% drop in the demand for completed steel, as reported by the World Steel Association. The supply chain was thrown off by the pandemic's effects on manufacturing and labour availability. The measures of confinement halted consumer activity, which lowered demand.
Stainless steel is a crucial component of structural steel, and its popularity is on the rise as the manufacturing sector expands. The fact that structural steel can be recycled helps it meet the needs of the growing green building industry. Large-scale building and infrastructure projects in countries like India and China fuel demand for structural steel elsewhere. Structural steel in construction is in high demand because of government measures to improve living standards. The widespread adoption of structural steel for large-scale facades and walls also fuels the industry's rapid expansion. Market CAGR is being driven by this aspect.
During the forecast period, the residential sector is expected to account for the greatest share of the structural steel market. The rising popularity of apartment towers and single-family homes in emerging markets is largely responsible for this expansion. During the forecast period, the non-residential sector is expected to represent the second biggest market share for structural steel. The demand for industrial and infrastructure projects is rising, which is driving this expansion.
Another factor propelling the structural steel market is the rising demand for the material due to its widespread application in the construction of office and residential buildings around the world. The structural steel market could be propelled by rising demand from manufacturing sectors for flat items such as stainless steel. Since structural steel can be recycled, its market is growing as green building construction becomes more popular. Market growth for structural steel may also benefit from rising building and infrastructure spending in countries like India and China. Demand for structural steel in the building industry has risen as a result of the government's push to improve housing conditions worldwide. Large scale walls, facades, and other construction components are often made of structural steel. The construction of new office spaces by real estate developers is a key factor fueling demand for structural steel. As a result, these elements fuel the Structural Steel industry's bottom line.
Report Coverage
Global Structural Steel research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Structural Steel report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Structural Steel competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Structural Steel market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | Arcelor Mittal S.A., Hebei Group, Baosteel Group Co., Nippon Steel & Sumitomo Metal Corporation, POSCO, Wuhan Group, Tata Limited, Anshan Iron & Steel Group Corporation, Anyang Group Co. Ltd., Baogang Group, Hyundai Steel Co. Ltd., Bohai Group |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Structural Steel Market from 2021 to 2030.
- Market Forecast for Structural Steel Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Structural Steel competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Structural Steel
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Structural Steel market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Structural Steel market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
Arcelor Mittal S.A., Hebei Group, Baosteel Group Co., Nippon Steel & Sumitomo Metal Corporation, POSCO, Wuhan Group, Tata Limited, Anshan Iron & Steel Group Corporation, Anyang Group Co. Ltd., Baogang Group, Hyundai Steel Co. Ltd., Bohai Group
Primary Target Market
- Market Players of Structural Steel
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Structural Steel market based on the below-mentioned segments:
Global Structural Steel Market, By Product
Heavy Sectional Steel
Light Sectional Steel
Rebar
Global Structural Steel market, By Application
Residential
Non-Residential
Infrastructure
Global Structural Steel market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
You will get in-depth and extensive structural steel market market research and competitor analysis for your business to help you develop more profound insights into the structural steel market Market.
Through INFINITIVE Data Expert is a professional Market Research services, I will identify the structural steel market market size, demand & opportunities, growth rate, and target audience with a comprehensive analysis of your competitors.