Structural Steel Market Opportunities 2031
The Structural Steel Market is expected to register a CAGR of 5.8% from 2024 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is segmented by By Product Type (Bearing Piles, Channels, Angles, Square and Round Bars, and Others). The report is also segmented based on Type (Carbon Steel, High Strength Low Alloy Steels, Forged Steels, and Others) and End-Use Industry (Building and Construction [Residential and Non-Residential], Automotive, Aerospace, Marine, Energy, and Others). The report scope covers 5 regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America and key countries under each region. The global analysis is further broken-down at regional level and major countries. The Report Offers the Value in USD for the above analysis and segments.
Purpose of the ReportThe report Structural Steel Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Structural Steel Market Segmentation
Product Type- Bearing Piles
- Channels
- Angles
- Square and Round Bars
- Carbon Steel
- High Strength Low Alloy Steels
- Forged Steels
Strategic Insights
Structural Steel Market Growth Drivers- Rapid Urbanization and Infrastructure Development Driving Structural Steel Demand: Rapid urbanization and infrastructure development are accelerating structural steel demand in emerging economies. As cities expand and housing, transportation, and public infrastructure demands increase, structural steel becomes an increasingly important construction product for large-scale projects due to its strength, flexibility, and durability.
- Structural Steel’s Durability and Load-Bearing Capacity Fuel Its Popularity in Construction: Structural steel is mainly strongly preferred because of its properties like durability and load-bearing capacity; hence, it is most suited to high-rise buildings, bridges, and other infrastructure poles. More than that, steel would lend itself into most architecture and, due to speedy construction, makes it attractive for urbanization as well.
- Government Investment in Infrastructure Propelling Growth in Structural Steel Market: The governments are spending huge amounts on infrastructure all over the world for economic growth and urbanization. So as the need for sustainable and resilient buildings increases, structural steel becomes the prime requirement concerning the demands that modern infrastructure projects entail. With continued urbanization, the structural steel market is expected to witness steady growth.
- Sustainability Trends Fueling the Growth of Recycled Steel in Construction: Among the key trends in the structural steel market today is an increased interest in sustainability - exhibiting greater movement towards using recycled steel in construction projects. Recycled materials are quickly being adopted by industries in their efforts to lower their environmental footprints and achieve a circular economy as environmental concerns grow and rules tighten.
- A Viable, Eco-Friendly Alternative to Virgin Steel: Recycled steel have a nearly comparable strength and durability value to one produced by virgin steel, making it a very viable and environmentally-friendly substitute for structural uses. Less virgin raw materials will have to be extracted because of the use of recycled steel and will also require less energy consuming manufacturing processes, thus reducing emissions and waste and promoting sustainable construction.
- Green Building Certifications and Consumer Demand Boost Recycled Steel Adoption: The voice of sustainability has also taken over this trend, with green building certifications like LEED (Leadership in Energy and Environmental Design) increasingly being adopted and prompting consumers to use green materials. With a keen eye for sustainability that drives the construction sector, recycled steel is fast becoming the popular choice, thus pushing demand toward structural steel products with environmentally-friendly building practices.
- Rising Demand for Smart and Green Buildings Drives Structural Steel Market Growth: An emerging opportunity in the structural steel market is growing demand for smart and green buildings. There is now an increased demand for integrating into construction technology along with sustainable design in materials because urban areas have become increasingly prominent in their attention to sustainable energy. This makes structural steel a key enabler.
- The Role of Structural Steel in Green Building Design and Energy Efficiency: With the design of green buildings including energy efficiency interventions such as solar energy, insulation, and sustainable building methods, the versatility of structural steel allows it to be part of such a green design. Steel fits perfectly in this perspective because it offers strength and recyclability by being the core material in the construction of green and energy-efficient buildings to be in tandem with the world's trend towards a lesser environmental impact.
- Government Incentives and Green Building Standards Stimulate Structural Steel Demand: Governments and organizations all over the world are making green building standards and offering incentives for green buildings. All of these have induced an increase in demand for structural steel fulfilling a particular standard. Now, it would be interesting to see how many more opportunities are offered by structural steel companies to take advantage of smartizing buildings toward environment performance.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Structural Steel Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Structural Steel Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Based on geography, Asia Pacific is expected to register the fastest CAGR from 2023 to 2031.
The report can be delivered in PDF/Word format, we can also share excel data sheet based on request.
Sustainability and recycled steel usage is one of the key trends for the market growth.
ArcelorMittal SA, Baosteel Group Corporation, EVRAZ Plc, Nippon Steel Corporation, JSW Group, Tata Steel Limited, POSCO, Gerdau S/A, and Hebei Metal Trading Co Ltd are among the leading players operating in the structural steel market.
Rapid urbanization and infrastructure development is driving the market growth
The Structural Steel Market is estimated to witness a CAGR of 5.8% from 2023 to 2031
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Structural Steel Market - By Product
1.3.2 Structural Steel Market - By Application
1.3.3 Structural Steel Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. STRUCTURAL STEEL MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS
5. STRUCTURAL STEEL MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. STRUCTURAL STEEL MARKET - GLOBAL MARKET ANALYSIS
6.1. STRUCTURAL STEEL - GLOBAL MARKET OVERVIEW
6.2. STRUCTURAL STEEL - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE
7. STRUCTURAL STEEL MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT
7.1. OVERVIEW
7.2. PRODUCT MARKET FORECASTS AND ANALYSIS
7.3. HEAVY STRUCTURAL STEEL
7.3.1. Overview
7.3.2. heavy structural steel Market Forecast and Analysis
7.4. LIGHT STRUCTURAL STEEL
7.4.1. Overview
7.4.2. light structural steel Market Forecast and Analysis
8. STRUCTURAL STEEL MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. RESIDENTIAL
8.3.1. Overview
8.3.2. residential Market Forecast and Analysis
8.4. NON-RESIDENTIAL
8.4.1. Overview
8.4.2. non-residential Market Forecast and Analysis
8.5. INDUSTRIAL
8.5.1. Overview
8.5.2. industrial Market Forecast and Analysis
8.6. STATION AND HANGERS
8.6.1. Overview
8.6.2. station and hangers Market Forecast and Analysis
8.7. BRIDGES
8.7.1. Overview
8.7.2. bridges Market Forecast and Analysis
8.8. OTHERS.
8.8.1. Overview
8.8.2. others. Market Forecast and Analysis
9. STRUCTURAL STEEL MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Structural Steel Market Overview
9.1.2 North America Structural Steel Market Forecasts and Analysis
9.1.3 North America Structural Steel Market Forecasts and Analysis - By Product
9.1.4 North America Structural Steel Market Forecasts and Analysis - By Application
9.1.5 North America Structural Steel Market Forecasts and Analysis - By Countries
9.1.5.1 United States Structural Steel Market
9.1.5.1.1 United States Structural Steel Market by Product
9.1.5.1.2 United States Structural Steel Market by Application
9.1.5.2 Canada Structural Steel Market
9.1.5.2.1 Canada Structural Steel Market by Product
9.1.5.2.2 Canada Structural Steel Market by Application
9.1.5.3 Mexico Structural Steel Market
9.1.5.3.1 Mexico Structural Steel Market by Product
9.1.5.3.2 Mexico Structural Steel Market by Application
9.2. EUROPE
9.2.1 Europe Structural Steel Market Overview
9.2.2 Europe Structural Steel Market Forecasts and Analysis
9.2.3 Europe Structural Steel Market Forecasts and Analysis - By Product
9.2.4 Europe Structural Steel Market Forecasts and Analysis - By Application
9.2.5 Europe Structural Steel Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Structural Steel Market
9.2.5.1.1 Germany Structural Steel Market by Product
9.2.5.1.2 Germany Structural Steel Market by Application
9.2.5.2 France Structural Steel Market
9.2.5.2.1 France Structural Steel Market by Product
9.2.5.2.2 France Structural Steel Market by Application
9.2.5.3 Italy Structural Steel Market
9.2.5.3.1 Italy Structural Steel Market by Product
9.2.5.3.2 Italy Structural Steel Market by Application
9.2.5.4 United Kingdom Structural Steel Market
9.2.5.4.1 United Kingdom Structural Steel Market by Product
9.2.5.4.2 United Kingdom Structural Steel Market by Application
9.2.5.5 Russia Structural Steel Market
9.2.5.5.1 Russia Structural Steel Market by Product
9.2.5.5.2 Russia Structural Steel Market by Application
9.2.5.6 Rest of Europe Structural Steel Market
9.2.5.6.1 Rest of Europe Structural Steel Market by Product
9.2.5.6.2 Rest of Europe Structural Steel Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Structural Steel Market Overview
9.3.2 Asia-Pacific Structural Steel Market Forecasts and Analysis
9.3.3 Asia-Pacific Structural Steel Market Forecasts and Analysis - By Product
9.3.4 Asia-Pacific Structural Steel Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Structural Steel Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Structural Steel Market
9.3.5.1.1 Australia Structural Steel Market by Product
9.3.5.1.2 Australia Structural Steel Market by Application
9.3.5.2 China Structural Steel Market
9.3.5.2.1 China Structural Steel Market by Product
9.3.5.2.2 China Structural Steel Market by Application
9.3.5.3 India Structural Steel Market
9.3.5.3.1 India Structural Steel Market by Product
9.3.5.3.2 India Structural Steel Market by Application
9.3.5.4 Japan Structural Steel Market
9.3.5.4.1 Japan Structural Steel Market by Product
9.3.5.4.2 Japan Structural Steel Market by Application
9.3.5.5 South Korea Structural Steel Market
9.3.5.5.1 South Korea Structural Steel Market by Product
9.3.5.5.2 South Korea Structural Steel Market by Application
9.3.5.6 Rest of Asia-Pacific Structural Steel Market
9.3.5.6.1 Rest of Asia-Pacific Structural Steel Market by Product
9.3.5.6.2 Rest of Asia-Pacific Structural Steel Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Structural Steel Market Overview
9.4.2 Middle East and Africa Structural Steel Market Forecasts and Analysis
9.4.3 Middle East and Africa Structural Steel Market Forecasts and Analysis - By Product
9.4.4 Middle East and Africa Structural Steel Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Structural Steel Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Structural Steel Market
9.4.5.1.1 South Africa Structural Steel Market by Product
9.4.5.1.2 South Africa Structural Steel Market by Application
9.4.5.2 Saudi Arabia Structural Steel Market
9.4.5.2.1 Saudi Arabia Structural Steel Market by Product
9.4.5.2.2 Saudi Arabia Structural Steel Market by Application
9.4.5.3 U.A.E Structural Steel Market
9.4.5.3.1 U.A.E Structural Steel Market by Product
9.4.5.3.2 U.A.E Structural Steel Market by Application
9.4.5.4 Rest of Middle East and Africa Structural Steel Market
9.4.5.4.1 Rest of Middle East and Africa Structural Steel Market by Product
9.4.5.4.2 Rest of Middle East and Africa Structural Steel Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Structural Steel Market Overview
9.5.2 South and Central America Structural Steel Market Forecasts and Analysis
9.5.3 South and Central America Structural Steel Market Forecasts and Analysis - By Product
9.5.4 South and Central America Structural Steel Market Forecasts and Analysis - By Application
9.5.5 South and Central America Structural Steel Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Structural Steel Market
9.5.5.1.1 Brazil Structural Steel Market by Product
9.5.5.1.2 Brazil Structural Steel Market by Application
9.5.5.2 Argentina Structural Steel Market
9.5.5.2.1 Argentina Structural Steel Market by Product
9.5.5.2.2 Argentina Structural Steel Market by Application
9.5.5.3 Rest of South and Central America Structural Steel Market
9.5.5.3.1 Rest of South and Central America Structural Steel Market by Product
9.5.5.3.2 Rest of South and Central America Structural Steel Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. STRUCTURAL STEEL MARKET, KEY COMPANY PROFILES
11.1. ARCELORMITTAL S.A
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. CHINA STEEL STRUCTURE CO.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. HBIS GROUP
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. HYUNDAI-STEEL
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. JINDAL STEEL AND POWER LTD
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. NIPPON STEEL CORPORATION
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. POSCO
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. SHAGANG GROUP INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SHYAM STEEL
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. TATA STRUCTURA
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. ArcelorMittal S.A
2. China Steel Structure Co.
3. HBIS GROUP
4. HYUNDAI-STEEL
5. Jindal Steel and Power Ltd
6. Nippon Steel Corporation
7. POSCO
8. SHAGANG GROUP Inc.
9. Shyam Steel
10. Tata Structura
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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