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Global Structural Steel Market Size study, by Product (Angles, Channels, Rounds, Squares, Beams), by Application (Residential, Non-residential, Institutional, Commercial, Offices, Others) and Regional Forecasts 2024-2032

Global Structural Steel Market Size study, by Product (Angles, Channels,...

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Global Structural Steel Market Size study, by Product (Angles, Channels, Rounds, Squares, Beams), by Application (Residential, Non-residential, Institutional, Commercial, Offices, Others) and Regional Forecasts 2024-2032
Global Structural Steel Market Size...
Report Code
RO4/103/1193

Publish Date
30/Aug/2024

Pages
200
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Global Structural Steel Market was valued at approximately USD 117.12 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 6.01% over the forecast period 2024-2032. Structural steel is recognized for its recyclability, which aligns with the rising number of green buildings. Green buildings, as per the World Green Building Council, reduce water usage by 11% and energy usage by 25% in the U.S. The growing emphasis on green construction is anticipated to propel the market in the coming years. California, holding a significant share in the green building segment in the U.S., is expected to achieve zero net energy by 2030, further boosting the demand for structural steel. The market is driven by infrastructural developments across both developing and developed nations, with growing housing needs being a significant contributor. The United Nations projects the global population to reach 11.2 billion by 2100, which is expected to bolster housing demand and, in turn, drive the consumption of structural steel.

The construction industry in the U.S. saw a resurgence in 2023, recovering from the impacts of the COVID-19 pandemic with an overall growth of 6.1%. This growth was notably driven by the manufacturing sector, followed by commercial and residential sectors. High-rise building construction is also a key factor driving the market, given structural steel's high strength-to-weight ratio, making it ideal for supporting tall buildings. Currently, there are numerous high-rise buildings under construction, primarily in Asia, which is expected to drive market growth. However, the market faces challenges due to fluctuating prices of steel and raw materials like iron, coal, and scrap, leading to volatility. Production costs and storage capacity also impact prices directly. Despite these challenges, the fragmented nature of the market, characterized by numerous players and moderate innovation levels, allows for the continuous development of new products and optimization of production processes to meet the growing demand in the building and construction segment.

The key regions considered for the Global 3D Secure Payment Authentication Market study include North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America accounted for a significant market share in 2023. The North America structural steel market is significant, driven by construction activities in residential, commercial, industrial, and infrastructure sectors. Factors contributing to market growth include urbanization, industrialization, infrastructure development projects, and renovations in existing structures. the structural steel market in North America presents opportunities for manufacturers, fabricators, and stakeholders in the construction industry to capitalize on the demand for durable, efficient, and sustainable building materials across diverse applications. Furthermore, the Asia-Pacific region is projected to experience the highest growth rate during the forecast period 2024-2032.

Major market player included in this report are:
Arcelor Mittal S.A.
Baogang Group
Evraz plc
Gerdau S.A.
Nippon Steel Corporation
JSW Steel Limited
Tata Steel Limited
SAIL
Wuhan Iron & Steel (Group) Corp
Hebei Steel Group
Baosteel Group Corporation
Bohai Steel Group Co. Ltd.
Anshan Iron & Steel Group Co., Ltd.
HBIS Group
Anyang Iron & Steel Group Co., Ltd.
The detailed segments and sub-segment of the market are explained below:
By Product:
Angles
Channels
Rounds
Squares
Beams
By Application:
Residential
Non-residential
Institutional
Commercial
Offices
Others
By Region:
North America
U.S.
Canada
Europe
Germany
UK
France
Italy
Spain
Rest of Europe
Asia Pacific
China
India
Japan
South Korea
Australia
Rest of Asia Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa
Years considered for the study are as follows:
Historical year - 2022
Base year - 2023
Forecast period - 2024 to 2032
Key Takeaways:
Market Estimates & Forecast for 10 years from 2022 to 2032.
Annualized revenues and regional level analysis for each market segment.
Detailed analysis of geographical landscape with Country level analysis of major regions.
Competitive landscape with information on major players in the market.
Analysis of key business strategies and recommendations on future market approach.
Analysis of competitive structure of the market.
Demand side and supply side analysis of the market.

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