Structural Steel Market to Worth USD 298 Billion by 2027, Growing at a CAGR of 6.4% - Arizton

CHICAGO, Nov. 21, 2022 /PRNewswire/ -- According to Arizton's latest research report, the structural steel market is expected to grow at a CAGR of 6.41% from 2022-2027 and is expected to reach USD 298.12 billion by 2027 from USD 205.36 billion in 2021. There is a huge development in the global structural steel market due to the rise in the demand for infrastructure facilities, industrial sheds, commercial establishments, and residential housing. Structural steel is generally manufactured from coal and iron ore derived from mines. These mines are operated by various mining companies and major steel manufacturers but are controlled by local governments. Steel manufacturers invest large amounts in the R&D of a wide range of steel products.

Various end-users of steel also invest in product development. Therefore, end-users are pushing the demand specifications of steel products in the market. Automotive, aerospace and construction industries change in terms of production processes. However, the automotive industry invests in the development of vehicles with improved fuel economy. Manufacturers use high-strength steel to reduce the weight of vehicles. Similarly, steel structures offer large space compared to RCC construction, and the use of structural steel in high-rise buildings offers better load-carrying capacity. Hence, structural steel manufacturers are associated with various construction projects, such as Emirates Steel. End-users and steel manufacturers form partnerships to satisfy the needs and demands of the end-users.

Structural Steel Market Report Scope 

Find additional highlights on the growth strategies adopted by vendors and their product offerings, Download the Free Sample Report

Key Insights:

• Hot-rolled steel dominates the market due to its low cost and capacity to carry high strength and fast production process. However, the cold-rolled steel segment is expected to dominate the market in the future because of the potential to increase the life of steel, high yield strength compared to hot-rolled steel, and low environmental impact production process.
• In APAC, China, India, and Japan are the major consumers of structural steel. An increase in GDP along with the growth of the manufacturing, infrastructure, construction, power generation, and mining activities increase the demand for steel framed structures as it offers fast construction at a low cost. This is expected to boost the market for structural steel.
• An increase in the formation of partnerships and joint ventures to develop quality steel positively impacts the global structural steel market.
• There is growth in the manufacturing industry in Brazil, Russia, India, Germany, Argentina, and Mexico, and the adoption of modern technology is expected to increase production capacity as modern equipment generally require high vibration-absorbing capacity.

Market Segmentation

Type

• Hot-Rolled Steel
• Cold-Rolled Steel

Application

• Infrastructure
• Industrial
• Commercial
• Residential

Geography

• North America
• U.S.
• Canada
• Europe
• Russia
• Germany
• Itay
• France
• Spain
• U.K.
• Rest of Europe
• APAC
• China
• India
• Japan
• South Korea
• Rest of APAC
• Middle East & Africa
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• Latin America
• Brazil
• Mexico
• Rest of Latin America

The structural steel market is highly fragmented as there are many manufacturers across major markets. Many small companies have a significant share that poses substantial competition to prominent companies in the global structural steel market. There is a growth in the infrastructure and industrial sectors due to increased population FDIs. This is expected to boost investment in R&D across steel industry, which will fuel the competition among players. Also, adoption of digitalization enhancing the production processes and ability to deliver products to fulfill customer demand. Also, manufacturers must introduce new or improved structural steel products from time to time and adapt to constantly changing market trends to survive in the intensely competitive environment.

Company Profiled in the Report

• ArcelorMittal
• Nippon Steel Corporation
• Shougang
• TATA Steel
• Hyundai Steel
• Anyang Iron & Steel Group Co., Ltd.
• British Steel
• China Ansteel Group Corporation Limited
• Emirates Steel
• Evraz PLC
• Gerdau S/A
• HBIS Group Co., Ltd
• JSW Steel
• Nucor
• POSCO
• SSAB
• Steel Authority of India Limited (SAIL)
• Tangshan Jun Nan Trade Company Limited
• Voestalpine AG

To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. Request for free sample report

Table of Content 

1 RESEARCH METHODOLOGY

2 RESEARCH OBJECTIVES

3 RESEARCH PROCESS

4 SCOPE & COVERAGE

4.1 MARKET DEFINITION

4.1.1 INCLUSIONS

4.1.2 EXCLUSIONS

4.1.3 MARKET ESTIMATION CAVEATS

4.2 BASE YEAR

4.3 SCOPE OF THE STUDY

4.3.1 MARKET SEGMENTATION BY GEOGRAPHY

5 REPORT ASSUMPTIONS & CAVEATS

5.1 KEY CAVEATS

5.2 CURRENCY CONVERSION

5.3 MARKET DERIVATION

6 PREMIUM INSIGHTS

6.1 INTRODUCTION

6.1 MARKET SYNOPSIS

6.1.1 ENABLERS

6.1.2 OPPORTUNITIES

6.1.3 CHALLENGES

6.2 SEGMENT REVIEW

6.2.1 APPLICATION

6.2.2 TYPE

6.3 GEOGRAPHY

6.4 COMPANIES & STRATEGIES

7 MARKET AT A GLANCE

8 INTRODUCTION

8.1 OVERVIEW

9 MARKET OPPORTUNITIES & TRENDS

9.1 INNOVATION & TECHNOLOGICAL ADVANCES IN STEEL INDUSTRY

9.2 RESIDENTIAL & INFRASTRUCTURE DEVELOPMENT

9.3 DEMAND FOR SUSTAINABLE CONSTRUCTION MATERIALS

10 MARKET GROWTH ENABLERS

10.1 RAPID INDUSTRIALIZATION OF EMERGING ECONOMIES

10.2 GROWTH OF LIGHT GAUGE STEEL FRAMING MARKET

11 MARKET RESTRAINTS

11.1 EXPENSIVE MAINTENANCE

11.2 FLUCTUATIONS IN RAW MATERIAL PRICES

12 MARKET LANDSCAPE

12.1 MARKET OVERVIEW

12.2 MARKET SIZE & FORECAST

12.3 FIVE FORCES ANALYSIS

12.3.1 THREAT OF NEW ENTRANTS

12.3.2 BARGAINING POWER OF SUPPLIERS

12.3.3 BARGAINING POWER OF BUYERS

12.3.4 THREAT OF SUBSTITUTES

12.3.5 COMPETITIVE RIVALRY

12.4 VALUE CHAIN ANALYSIS

12.4.1 RAW MATERIAL SUPPLIERS

12.4.2 MANUFACTURERS

12.4.3 DISTRIBUTORS

12.4.4 END-USERS

12.5 MACRO ECONOMIC FACTORS

13 APPLICATION

13.1 MARKET SNAPSHOT & GROWTH ENGINE

13.2 MARKET OVERVIEW

13.3 INFRASTRUCTURE

13.3.1 MARKET OVERVIEW

13.3.2 MARKET SIZE & FORECAST

13.3.3 MARKET BY GEOGRAPHY

13.4 INDUSTRIAL

13.5 COMMERCIAL

13.6 RESIDENTIAL

14 TYPE

14.1 MARKET SNAPSHOT & GROWTH ENGINE

14.2 MARKET OVERVIEW

14.3 HOT-ROLLED STEEL

14.3.1 MARKET OVERVIEW

14.3.2 MARKET SIZE & FORECAST

14.3.3 MARKET BY GEOGRAPHY

14.4 COLD-ROLLED STEEL

15 GEOGRAPHY

15.1 MARKET SNAPSHOT & GROWTH ENGINE

15.2 GEOGRAPHIC OVERVIEW

16 APAC

16.1 MARKET OVERVIEW

16.2 MARKET SIZE & FORECAST

16.5 KEY COUNTRIES

16.6 CHINA

16.6.1 MARKET SIZE & FORECAST

16.7 INDIA

16.7.1 MARKET SIZE & FORECAST

16.9 JAPAN

16.9.1 MARKET SIZE & FORECAST

16.10 SOUTH KOREA

16.10.1 MARKET SIZE & FORECAST

16.11 REST OF APAC

16.11.1 MARKET SIZE & FORECAST

17 NORTH AMERICA

17.1 MARKET OVERVIEW

17.2 MARKET SIZE & FORECAST

17.5 KEY COUNTRIES

17.6 US

17.6.1 MARKET SIZE & FORECAST

17.7 CANADA

17.7.1 MARKET SIZE & FORECAST

18 EUROPE

18.1 MARKET OVERVIEW

18.2 MARKET SIZE & FORECAST

18.5 KEY COUNTRIES

18.6 RUSSIA

18.6.1 MARKET SIZE & FORECAST

18.7 GERMANY

18.7.1 MARKET SIZE & FORECAST

18.8 ITALY

18.8.1 MARKET SIZE & FORECAST

18.9 FRANCE

18.9.1 MARKET SIZE & FORECAST

18.10 SPAIN

18.10.1 MARKET SIZE & FORECAST

18.12 UK

18.12.1 MARKET SIZE & FORECAST

18.13 REST OF EUROPE

18.13.1 MARKET SIZE & FORECAST

19 LATIN AMERICA

19.1 MARKET OVERVIEW

19.2 MARKET SIZE & FORECAST

19.5 KEY COUNTRIES

19.6 BRAZIL

19.6.1 MARKET SIZE & FORECAST

19.7 MEXICO

19.7.1 MARKET SIZE & FORECAST

19.8 REST OF LATIN AMERICA

19.8.1 MARKET SIZE & FORECAST

20 MIDDLE EAST & AFRICA

20.1 MARKET OVERVIEW

20.2 MARKET SIZE & FORECAST

20.5 KEY COUNTRIES

20.6 SAUDI ARABIA

20.6.1 MARKET SIZE & FORECAST

20.7 UAE

20.7.1 MARKET SIZE & FORECAST

20.8 SOUTH AFRICA

20.8.1 MARKET SIZE & FORECAST

20.9 REST OF MEA

20.9.1 MARKET SIZE & FORECAST

21 COMPETITIVE LANDSCAPE

21.1 COMPETITION OVERVIEW

22 KEY COMPANY PROFILES

22.1 ARCELORMITTAL

22.1.1 BUSINESS OVERVIEW

22.1.2 FINANCIAL OVERVIEW

22.1.3 PRODUCT OFFERINGS

22.1.4 KEY STRATEGIES

22.1.5 KEY STRENGTHS

22.1.6 KEY OPPORTUNITIES

22.2 NIPPON STEEL CORPORATION

22.3 SHOUGANG

22.4 TATA STEEL

22.5 HYUNDAI STEEL

23 OTHER PROMINENT VENDORS

23.1 ANYANG IRON & STEEL GROUP CO., LTD.

23.1.1 COMPANY OVERVIEW

23.1.2 PRODUCT OFFERINGS

23.2 BRITISH STEEL

23.3 CHINA ANSTEEL GROUP CORPORATION LIMITED

23.4 EMIRATES STEEL

23.5 EVRAZ PLC

23.6 GERDAU S/A

23.7 HBIS GROUP CO., LTD

23.8 JSW STEEL

23.9 NUCOR

23.10 POSCO

23.11 SSAB AB

23.12 STEEL AUTHORITY OF INDIA LIMITED

23.13 TANGSHAN JUN NAN COMPANY LIMITED

23.14 VOESTALPINE AG

24 REPORT SUMMARY

24.1 KEY TAKEAWAYS

24.2 STRATEGIC RECOMMENDATIONS

25 QUANTITATIVE SUMMARY

25.1 MARKET BY APPLICATION

25.1.1 INFRASTRUCTURE

25.1.2 INDUSTRIAL

25.1.3 COMMERCIAL

25.1.4 RESIDENTIAL

25.2 MARKET BY TYPE

25.2.1 HOT-ROLLED STEEL

25.2.2 COLD-ROLLED STEEL

26 APPENDIX

26.1 ABBREVIATIONS

Click Here to Download the Free Sample Report

Check out more related studies published by Arizton: 

Raised Access Flooring Market - Global Outlook and Forecast 2020-2025: The global raised access flooring market size to cross USD 900 million by 2025, growing at a CAGR of over 2% during the forecast period. The raised access floor technology is finding increasing application in data centers across the world. The increasing internet penetration in countries such as the US and Canada is growing. This rate is likely to increase further as the adoption of smartphones and handheld connected devices is increasing, thereby increasing data consumption. The data growth is also attributed to technological advancements in the past decade, such as cloud computing, big data, and the internet of things (IoT). Hence, the increased data consumption is leading to development data centers, which, in turn, increase the demand for raised access floors.

U.S. Wall Repair Products Market - Industry Outlook & Forecast 2022-2027: The U.S. wall repair products market is expected to reach USD 12 billion by 2027 from USD 9.3 billion in 2022, growing at a CAGR of 4.7% during the forecast period. The demand for DIY wall repair for home modifications projects is growing, such as patching big or small wall holes, repairing damp walls, and many more in the U.S. due to better living standards of the middle-class population seeking improved home spaces boosting the wall repair products in the U.S.

Touchless Door Activation Market - Global Outlook & Forecast 2022-2027: The global touchless door activation market was valued at USD 3.5 billion in 2021 and is expected to reach USD 5.3 billion by 2027. The demand for touchless activation doors in the commercial and industrial segment is currently being driven by prospects of new installations in the healthcare industry, hospitality industry, and corporate offices. The hospitality industry is poised to witness several new hotel constructions in the coming years. The commercial segment mainly includes shopping malls, retail stores, hospitals, corporate offices, hotels, restaurants, and public and industrial buildings.

Prefabricated Building Market in Europe - Industry Outlook and Forecast 2021-2026: The Europe prefabricated building market size was valued at USD 24 billion in 2020 and is likely to reach USD 32 billion in 2026. The prefabricated building market in Europe by cellular systems accounted for over 24% share in 2020. The increasing demand for complete and finished turnkey solutions in Europe is the primary factor responsible for cellular systems' growth. The growing number of prefabricated constructions expects to boost the demand during the forecast period. Cellular systems play a vital role in the development of multidimensional structures. In addition, they are also regularly used for building cells, which provide isolation.

Browse for More Arizton "Consumer Goods Retail Tech" Research Reports 

About Us:    

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.   

We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals, and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.   

Arizton comprises a team of exuberant and well-experienced analysts who have mastered in generating incisive reports. Our specialist analysts possess exemplary skills in market research. We train our team in advanced research practices, techniques, and ethics to outperform in fabricating impregnable research reports.     

Click Here to Contact Us    

Call: +1-312-235-2040   

          +1 302 469 0707   

Mail: enquiry@arizton.com 

Photo: https://mma.prnewswire.com/media/1952526/Global_Structural_Steel_market.jpg
Logo: https://mma.prnewswire.com/media/818553/Arizton_Logo.jpg