Key Growth Factors of Structural Steel Market
1. Rising application scope in an extensive non-residential applications range involving data centers, manufacturing
facilities, healthcare facilities, big box retail stores, and airports is anticipated to strengthen the demand.
2. Elevated economic growth rate in developing regions has render governments’ considerable capital to fund the
public infrastructure like hospitals, bridges, housing societies, and offices.
3. Appearance of private sector construction firms in UAE, Mexico and India is projected to further bestow in
construction expenditure, influencing the global market growth positively.
Competitive Outlook and Trend Analysis- Structural Steel Market
Major industry participants are Nippon Steel & Sumitomo Metal Corporation, Arcelor Mittal S.A., Hebei Group, POSCO, Baosteel Group Co., Wuhan Group, Hyundai Steel Co. Ltd. (HSC Ltd.), Bohai Group, Anshan Iron & Steel Group Corporation, Baogang Group, Anyang Group Co. Ltd., and Tata Limited among others. Other major companies in the global market are also implementing several strategic initiatives involving mergers & acquisition to achieve a superior competitive edge and intensify their geographic range.
Market Highlights- Structural Steel Market
In 2014, The Global Structural Steel Market was evaluated around USD 79.87 billion and is expected to reach approximately USD 128.75 billion by 2023 while registering itself at a compound annual growth rate (CAGR) of 5.45% over the forecast period. Robust recovery of construction market in emerged markets of the UK, U.S., and Germany is a major factor fueling the growth of the market. Steel segments like wide flanges, angles, I-beams, and channels are extensively utilized in construction market due to their brilliant energy efficiency and design flexibility. Exponential technological developments in market for production maximization and cost reduction have boosted the high performance structural steel demand. The product demonstrates advanced properties like excellent ductility and seismic resistance, high strength, speed of erection and ease of fabrication.
Structural Steel Market: Classification
Nippon Steel & Sumitomo Metal Corporation
Arcelor Mittal S.A.
Baosteel Group Co.
Hyundai Steel Co. Ltd. (HSC Ltd.)
Anshan Iron & Steel Group Corporation
Anyang Group Co. Ltd.
Tata Limited among others.
Regional Outlook and Trend Analysis
Northern Asia rules the global market due to rapid industrial development, technological advancements, increasing construction expenditure, and high GDP growth rates. China is anticipated to appear as the leading country in this region owing to population expansion combined with elevated GDP expansion. Rising number of public-private partnership (PPP) projects are expected to compliment the market demand further. Favorable government regulations involving Make-in-India combined with major augment in foreign direct investments are expected to remain the major market growth driving factor for the South Asian countries. The optimistic developments in the financial conditions of region are expected to promote developments in the housing & residential segment during the forecast years. North American market is anticipated to grow at a compound annual growth rate of 3.4% during the forecast years.
What Our Report Offer:
1) An extensive research study on the Global Structural Steel Market, and its entire ecosystem, describes the market trends, drivers, restraints and opportunities of the Structural Steel Market.
2) We provide you the longest possible market segmentation based on type of products, procedures and geography and describe the market share region wise.
3) The report gives a bird eyes view on the competitive landscape which includes mergers and acquisitions, collaborations, market strategies, and new product launches.
Structural Steel Market - By Region:
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
North America (U.S, Canada, Mexico)
Europe (Germany, France, UK, Italy, Spain, Rest of Europe)
Asia-Pacific (Japan, China, Australia, India, South Korea, Rest of Asia-Pacific)
Rest of the World (Brazil, South Africa, Saudi Arabia, Turkey, United Arab Emirates, Others)
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