Structural Steel

Structural Steel

Global Structural Steel Market to Reach US$143.0 Billion by 2030

The global market for Structural Steel estimated at US$103.6 Billion in the year 2023, is expected to reach US$143.0 Billion by 2030, growing at a CAGR of 4.7% over the analysis period 2023-2030. Non-Residential Application, one of the segments analyzed in the report, is expected to record a 4.5% CAGR and reach US$74.9 Billion by the end of the analysis period. Growth in the Residential Application segment is estimated at 5.0% CAGR over the analysis period.

The U.S. Market is Estimated at US$28.0 Billion While China is Forecast to Grow at 7.8% CAGR

The Structural Steel market in the U.S. is estimated at US$28.0 Billion in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$30.4 Billion by the year 2030 trailing a CAGR of 7.8% over the analysis period 2023-2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at a CAGR of 2.5% and 3.9% respectively over the analysis period. Within Europe, Germany is forecast to grow at approximately 3.1% CAGR.

Global Structural Steel Market - Key Trends and Drivers Summarized

How Is Structural Steel Supporting Modern Infrastructure?

Structural steel is a vital material in construction and infrastructure development, known for its strength, versatility, and durability. It is widely used in buildings, bridges, industrial facilities, and infrastructure projects, offering load-bearing capacity, design flexibility, and resistance to environmental factors. Structural steel components, such as beams, columns, trusses, and girders, support a wide range of architectural and engineering designs, enabling efficient construction of high-rise buildings, factories, warehouses, and bridges. As urbanization, industrialization, and infrastructure investments grow worldwide, the demand for structural steel has surged, making it a cornerstone of modern construction.

What Are the Key Segments in the Structural Steel Market?

Key product types include hot-rolled, cold-rolled, and long products, with hot-rolled products holding the largest market share due to their extensive use in beams, columns, and other primary structural components. Applications cover residential buildings, commercial buildings, industrial structures, bridges, and infrastructure projects, with industrial structures representing a significant segment driven by the expansion of factories, warehouses, and energy facilities. End-use industries include construction, manufacturing, oil and gas, and transportation, with construction leading the market as structural steel supports skyscrapers, commercial complexes, and infrastructure projects like bridges and roads.

How Is Structural Steel Integrated Across Construction Projects?

In residential and commercial construction, structural steel is used to create frameworks for buildings, providing strength, stability, and flexibility for architectural designs. In industrial structures, it supports large-scale projects like warehouses, manufacturing plants, and energy facilities, where high load-bearing capacity and resistance to environmental stress are critical. In bridge construction, structural steel girders and trusses offer high tensile strength, enabling longer spans and robust designs that withstand heavy traffic and weather conditions. Additionally, structural steel is used in infrastructure projects such as railways, airports, and stadiums, supporting the growing demands of urbanization and transportation.

What Factors Are Driving the Growth in the Structural Steel Market?

The growth in the Structural Steel market is driven by several factors, including increasing investments in infrastructure, urban development, and industrial expansion across emerging and developed economies. Advancements in steel production, such as high-strength, low-alloy (HSLA) steel and corrosion-resistant coatings, have enhanced the performance and lifespan of structural steel components, supporting broader applications in construction. The focus on sustainable building practices has further fueled demand, as structural steel offers recyclability, reduced construction time, and lower material waste. Additionally, rising government spending on infrastructure projects, commercial real estate development, and energy facilities has contributed to market growth, encouraging the use of structural steel in diverse construction applications.

SCOPE OF STUDY:

The report analyzes the Structural Steel market in terms of US$ Million by the following Application, and Geographic Regions/Countries:

Segments:
Application (Non-Residential, Residential)

Geographic Regions/Countries:
World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; Spain; Russia; and Rest of Europe); Asia-Pacific (Australia; India; South Korea; and Rest of Asia-Pacific); Latin America (Argentina; Brazil; Mexico; and Rest of Latin America); Middle East (Iran; Israel; Saudi Arabia; United Arab Emirates; and Rest of Middle East); and Africa.

Select Competitors (Total 42 Featured) -

• Anshan Iron & Steel Group Corporation
• Anyang Iron & Steel Group Co. Ltd.
• Arcelor Mittal S.A.
• Baogang Group
• Bohai Steel Group Co. Ltd.
• Baosteel Group Corporation
• Benxi Beiying Iron & Steel Group Co. Ltd.
• Evraz Group
• Gerdau S.A.
• Hebei Steel Group
• Hyundai Steel Co., Ltd. (HSC)
• JSW Steel Limited

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