The new report by Expert Market Research titled, ‘Global Structural Steel Market Size, Price, Trends, Growth, Report and Forecast 2023-2028’, gives an in-depth analysis of the global structural steel market, assessing the market based on its segments like application and major regions.
The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analysing the market based on the SWOT and Porter’s Five Forces models.
The key highlights of the report include:
Market Overview (2018-2028)
• Forecast CAGR (2023-2028): 5.70%
The world is witnessing a continuous increase in construction activities in both residential and commercial sectors. Big construction projects like bridges and highways are proving a significant revenue generation opportunity to market players in the structural steel market.
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Furthermore, the several advantageous properties of stainless steel, such as sustainability, safety, lightweight nature, high-quality construction, and its high strength-to-weight ratio, is also taking the structural steel market upwards.
Industry Definition and Major Segments
Structural steel is a carbon steel used in the construction industry. It is an integral part of modern buildings and housing. This steel can be fabricated into a variety of shapes, dimensions, and sizes. The grade of the structural steel plays a significant role in defining its properties, so the right grade needs to be chosen depending on the required application.
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Based on the applications of structural steel, the market has been classified as
• Non-Residential
o Industrial
o Commercial
o Offices
o Institutional
• Residential
The report also provides a detailed regional analysis for structural steel market by diving the market into regions, namely, North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.
Market Trends
The increasing investment by the government of countries across the globe for the development of their infrastructure would contribute towards the structural steel market growth. Structural steel tubes account for around 10% of the total steel consumption, globally. However, in India, it’s around 4-5%, creating a massive space for further growth opportunities in the structural steel tubes market in India.
Key Market Players
The major players in the market are Anshan Iron & Steel Group Corporation, Anyang Iron & Steel Group Co. Ltd., Arcelor Mittal S.A., Tata Steel Limited, and McFarlane Mfg. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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