Global Structural Steel Market, By Type (Carbon-manganese steel, HSLA (High Strength, Low Alloy Steel), Heat Treated Carbon Steel, Heat Treated Alloy Steel), Application (Large facades, Walls, Curvilinear roofs, Others), End Use (Construction, Transportation, Machinery, Others), Country (U.S., Canada, Mexico, Brazil, Argentina, Rest of South America, Germany, France, Italy, U.K., Belgium, Spain, Russia, Turkey, Netherlands, Switzerland, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, U.A.E, Saudi Arabia, Egypt, South Africa, Israel, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
The structural steel market is expected to witness market growth at a rate of 6.08% in the forecast period of 2021 to 2028. Data Bridge Market Research report on structural steel market provides analysis and insights regarding the various factors expected to be prevalent throughout the forecast period while providing their impacts on the market’s growth. The increase in demand for the product from the automotive sector globally is escalating the growth of structural steel market.
Structural steel refers to the specialized steel category that is developed especially for construction applications and manufacturing of high strength high durable products. These products require specialized structures and shapes for handling high stress, pressure and provides low ductility. This steel category is produced from specialized mechanical and chemical properties.
The rise in the construction spending across the globe acts as one of the major factors driving the growth of structural steel market. The increase in the adoption of the product owning to the several advantages such as elasticity, ductility, lightweight, ease of fabrication, high strength, uniformity, toughness and recyclability, and surge in residential and non-residential construction activities accelerate the market growth. The high usage in construction industry and welded in various shapes and grades, and increase in demand for flat products like hot and cold rolled coil and stainless steel in the manufacturing industry further influence the market. Additionally, growth in consumer awareness, rapid industrialization and urbanization and growing construction of high-rise buildings positively affect the structural steel market. Furthermore, technological advancements and new product launches in order to improve production efficiency extends profitable opportunities to the market players in the forecast period of 2021 to 2028.
On the other hand, lack in awareness about the advantages of these structural steel in the construction industries is expected to obstruct the market growth. The lack of technical expertise is projected to challenge the structural steel market in the forecast period of 2021-2028.
This structural steel market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographical expansions, technological innovations in the market. To gain more info on structural steel market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Structural Steel Market Scope and Market Size
The structural steel market is segmented on the basis of type, application and end use. The growth amongst the different segments helps you in attaining the knowledge related to the different growth factors expected to be prevalent throughout the market and formulate different strategies to help identify core application areas and the difference in your target markets.
- On the basis of type, the structural steel market is segmented into carbon-manganese steel, HSLA (high strength, low alloy steel), heat treated carbon steel, and heat treated alloy steel.
- On the basis of application, the structural steel market is segmented into large facades, walls, curvilinear roofs and others.
- On the basis of end use, the structural steel market is segmented into construction, transportation, machinery and others.
Structural Steel Market Country Level Analysis
The structural steel market is analyzed and market size, volume information is provided by country, type, application and end use as referenced above.
The countries covered in the global structural steel market report are the U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, Israel, Egypt, South Africa, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
Asia-Pacific dominates the structural steel market due to the increase in housing construction activities in emerging economies. Europe is expected to be the fastest growing market during the forecast period of 2021 to 2028 because of the rise in renovation and reconstruction in the region.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Structural Steel Market Share Analysis
The structural steel market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to structural steel market.
The major players covered in the structural steel market report are Gerdau S/A, ArcelorMittal, Tata Structura, NIPPON STEEL CORPORATION, POSCO, JSW, thyssenkrupp AG, Essar Steel, Sahaviriya Steel Industries PLC, G Steel Public Company Limited, Capitol Steel Structures, HYUNDAI STEEL, Nucor Corporation, Baosteel Co., Ltd., China Ansteel Group Corporation Limited, SHAGANG GROUP Inc., Masteel UK Limited, Shandong Iron and Steel Group Co., Ltd., Baosteel Group Hu, Pag-asa Steel Works, Inc., HBIS GROUP, SAIL, NLMK, and ChinaSteel, among other domestic and global players. Market share data is available for global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.