The steel structure market size is expected to see strong growth in the next few years. It will grow to $145.70 billion in 2028 at a compound annual growth rate (CAGR) of 5.4%. The growth in the forecast period can be attributed to rising demand for high strength, lightweight materials, growing commercial construction projects, rising use of steel in residential buildings, rising need for earthquake-resistant buildings, and rising preference for pre-engineered steel buildings. Major trends in the forecast period include the adoption of advanced steel alloys, the development of modular steel structures, advancements in steel recycling technologies, integration of BIM (building information modeling), and advancements in high strength steel.
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Scope Of Steel Structure Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Steel Structure Market Overview
Market Drivers –
The increasing investments in residential buildings are expected to propel the growth of the steel structure market going forward. Residential buildings are constructed primarily for human habitation, including homes, flats, and condominiums. Investment in residential building construction is expanding due to rising demand for housing driven by population growth, urbanization, and low interest rates. Steel structure provides enhanced strength, durability, and design flexibility, allowing for innovative architectural designs and improved safety against natural disasters. For instance, in March 2024, according to the Australian Bureau of Statistics, an Australia-based government agency, there were 30,992 new private house dwellings, representing a 3.7% rise from December 2023 and a 14.6% increase from March 2023. Additionally, completions of other private new residential buildings increased to 14,844 dwellings, marking a 5.6% rise compared to December 2023. Therefore, the increasing investments in residential buildings are driving the steel structure market.
Market Trends –
Major companies operating in the steel structure market are developing innovative products with advanced technologies, such as steel building solutions technology, to enhance building efficiency, reduce construction time, and improve overall structural integrity. Steel building solutions technologies enhance steel structures by providing advanced design, precision engineering, and efficient construction methods that improve structural integrity, reduce construction time, and optimize material usage. For instance, in August 2022, APL Apollo, an India-based structural steel tubes and pipes manufacturing company, launched next-gen steel building solutions for structural steel tubes, featuring high-strength welded steel tubes (HSS) for use in towers, bridges, cranes, highway guardrails, and sign supports. These tubes offer exceptional strength and aesthetics, with advancements such as pre-fabrication and precise engineering that streamline construction, reduce project times, and cut costs.
The steel structure market covered in this report is segmented –
1) By Type: Carbon Steel Structure, Alloy Steel Structure, Special Steel Structure, Other Types
2) By Product: Angles, Channels, Rounds
3) By Application: Industrial, Commercial, Institutional, Residential
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Regional Insights –
Asia-Pacific was the largest region in the steel structure market in 2023. The regions covered in the steel structure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the steel structure market are ArcelorMittal S.A., Posco Holdings Inc., ThyssenKrupp AG, Nucor Corporation, JFE Holdings Inc., Maanshan Iron and Steel Company Limited, Tata Steel Limited, Steel Dynamics Inc., United States Steel Corporation, Hyundai Steel Co. Ltd., JSW Steel Limited, Voestalpine AG, Gerdau S.A., Ansteel Group Corporation Limited, China Steel Corporation, EVRAZ plc, Salzgitter AG, Steel Authority of India Limited, BlueScope Steel Limited, SSAB AB, Outokumpu Oyj, Commercial Metals Company, Severstal PAO, Liberty Steel Group Holdings UK Ltd., Nippon Steel Corporation
Table of Contents
1. Executive Summary
2. Steel Structure Market Report Structure
3. Steel Structure Market Trends And Strategies
4. Steel Structure Market – Macro Economic Scenario
5. Steel Structure Market Size And Growth
…..
27. Steel Structure Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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