The global structural steel market size was valued at USD 174.51 Billion in 2030 and is likely to register a compound annual growth rate (CAGR) of 5.9% from 2024 to 2030. The market growth is attributed to the growth in the construction sector and rising demand for steel as a green and sustainable material. Structural steel is utilized for construction-related applications. Its high carbon content offers high strength and low ductility. It is available in the form of various shapes such as I-beam, Z-shape, angle, tee, bar, and rod, depending upon the applications. It can be customized into a variety of shapes in different thicknesses and sizes owing to its ductility. Based on application, the market is segmented into residential and non-residential, where the latter dominates the market, in terms of revenue share.
Structural Steel Market Report Highlights
- Based on region, Asia Pacific dominated the global market in 2022 on account of the growing infrastructural developments in the region
- The non-residential application segment is anticipated to register the fastest CAGR, in terms of revenue, over the forecast period due to the rising renovation activities and spending on infrastructure development
- The industrial sub-segment led the non-residential application in 2022. Increasing construction of lightweight industrial building systems that make use of thin sheet-covered surfaces is the recent technological development, which is driving the demand for high-strength structural steel
- Middle East & Africa is expected to grow at a considerable CAGR, in terms of revenue, over the forecast period. The growth can be attributed to the upcoming infrastructure-related projects in the Middle East
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Growing spending on the commercial sector & infrastructural developments across various nations is augmenting the product demand in non-residential applications. The segment is further divided into industrial, commercial, offices, and institutional. Structural steel is widely used in numerous industrial sectors owing to its high strength-to-weight ratio. In the construction industry, it is utilized in designing and building industrial spaces, such as warehouses, bridges, and factories. Growth in the manufacturing sector is expected to propel the need for new factories and plants. For instance, after the emergence of the COVID-19 pandemic, various new facilities were established to meet the rising demand for PPE in the U.S.
Asia Pacific was the dominant regional market in 2020 and this trend is anticipated to continue over the forecast period. The growing construction spending in the developing economies of the region is anticipated to augment the product demand. For instance, in August 2021, India announced that it aims at spending INR 100 trillion (USD 1.35 trillion) on infrastructure development for boosting economic growth and jobs in the country. The competitive rivalry is extremely high in the market due to the presence of several small- and large-scale players spread across the world. The companies are striving to recover from their losses caused by the COVID-19 pandemic and are taking initiatives, such as mergers & acquisitions and capacity expansions, to further widen their reach.
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We have segmented the global structural steel market report on the basis of product, application and region.
Research Methodology
We employ a comprehensive and iterative research methodology focused on minimizing deviance in order to provide the most accurate estimates and forecasts possible. We utilize a combination of bottom-up and top-down approaches for segmenting and estimating quantitative aspects of the market. Data is continuously filtered to ensure that only validated and authenticated sources are considered. In addition, data is also mined from a host of reports in our repository, as well as a number of reputed paid databases. Our market estimates and forecasts are derived through simulation models. A unique model is created and customized for each study. Gathered information for market dynamics, technology landscape, application development, and pricing trends are fed into the model and analyzed simultaneously.
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The Business Research Company published its Steel Product Manufacturing Global Market Report 2020 which provides strategists, marketers and senior management with the critical information they need to assess the global steel product manufacturing market.
The report covers the steel product manufacturing market’s segments- iron and steel pipe and tube manufacturing, rolling and drawing.Steel Product Manufacturing Global Market Report 2020 is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by region and by country.
It covers all the regions, key developed countries and major emerging markets.
View Complete Report: https://www.thebusinessresearchcompany.com/report/steel-product-manufacturing-global-market-reportThe steel product manufacturing market consists of sales of steel products by entities (organizations, sole traders and partnerships) that produce tubes and pipes from iron and steel, shapes drawn through rolling or drawing of purchased iron or steel, and draw steel wire.
With increase in positive economic outlook, improved earning capacity, emerging markets growth, the scope and potential for the global steel product manufacturing market is expected to significantly rise in the forecast period.Few Points From Table Of Content 1.
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Global Steel Market Research Report and Industry Analysis, Forecast 2023
Steel is a high strength alloy of iron, which is produced by impregnating iron with carbon.
Such high strength alloys are used in a number of end-use industries such as building & construction, electrical appliances, domestic appliances, oil & gas, and automotive.
Some of the prominent factors influencing the global steel demand are increasing automotive production across the globe, growing investment in the building & construction sector.
Mild steel has high architectural capabilities and has relatively high availability in the market.
With the growing population and increasing disposable income, investments in the building & construction sector are on the rise in the emerging regions across the globe.
Global "Colour Steel Market" report gives a simple summary of the market, such as definitions, software, categories, and business series structure.
Industry analysis is supplied such as aggressive evaluation trends and essential growth status.
The analysis lists costs, exports eating, demand and supply amounts, markets, costs, earnings, and earnings.A new study predicts that the worldwide Colour Steel Market will grow at a healthy rate of growth between 2020 and 2025.
This study focuses on market trends, key players, supply chain trends, technological innovation, key developments, and future strategies.
Alongside qualitative and qualitative details concerning the key elements of the market, an summary of the key macro and micro economic factors which will help companies entering the market outperform the competition is additionally examined intimately.Request Sample Copy at: https://introspectivemarketresearch.com/request/176Key Player Mentioned: BlueScope, Kerui Steel, ArcelorMittal, Dongkuk Steel, ThyssenKrupp, Baosteel, Severstal, U.S. Steel, Shandong Guanzhou, NSSMC, JSW Steel, NLMK Group, Dongbu Steel, Essar Steel, POSCO, JFE Steel, Ansteel, Wuhan Iron and SteelProduct Segment Analysis: PE Coated Steel, HDP Coated Steel, SMP Coated Steel, PVDF Coated SteelApplication Segment Analysis: Construction, Home Appliance, AutomotiveRegional Segment Analysis: USA, Europe, Japan, China, India, South East AsiaThe market study report helps assess the Marketplace and offers statistics and forecast concerning earnings for the prediction period 2020 into 2025.
This study provides a comprehensive summary of the marketplace dynamics which are anticipated to influence the sector in the coming decades.
