Structural Steel Market by Product, Application, End Use

List of Tables

The Structural Steel Market was valued at USD 127.56 billion in 2023, expected to reach USD 135.11 billion in 2024, and is projected to grow at a CAGR of 6.40%, to USD 196.98 billion by 2030.

Structural steel is a critical component in the construction industry, defined as steel configured in specific profiles and regulated sizes for use in building infrastructure, from skyscrapers to bridges. Its necessity is underscored by its strength, durability, and versatility, lending itself to diverse applications like residential and commercial buildings, industrial facilities, and transport infrastructure. The end-use scope extends to sectors such as construction, oil and gas, and renewable energy, where it supports large-scale, robust projects.

KEY MARKET STATISTICS
Base Year [2023]	USD 127.56 billion
Estimated Year [2024]	USD 135.11 billion
Forecast Year [2030]	USD 196.98 billion
CAGR (%)	6.40%

Key growth factors driving the structural steel market include increasing urbanization, industrial development, and infrastructure modernization, which necessitate durable and sustainable materials. There is also a rising trend toward green buildings and the use of materials with recyclable properties, making steel particularly appealing. The surge in renewable energy projects, especially wind farms, is boosting demand due to steel's essential role in turbine construction. However, the market faces limitations such as fluctuating raw material prices and stringent environmental regulations aimed at reducing carbon emissions during steel production. The industry also grapples with competition from alternative materials like composites which can offer lighter weight and corrosion resistance.

Opportunities lie in adopting advanced manufacturing processes like automation and AI to enhance production efficiency and reduce costs. Moreover, innovations such as high-strength, low-alloy steels and development of smart cities present significant growth prospects. Collaborations with tech industries to develop self-healing steel or smart steel structures with embedded sensors offer new research avenues. For business growth, focusing on these technologies and expanding into emerging markets can drive success. Understanding the cyclical nature of the construction and manufacturing sectors helps in planning and innovation, with market participants needing to stay agile to regulatory changes and economic trends to thrive.

Market Dynamics: Unveiling Key Market Insights in the Rapidly Evolving Structural Steel Market

The Structural Steel Market is undergoing transformative changes driven by a dynamic interplay of supply and demand factors. Understanding these evolving market dynamics prepares business organizations to make informed investment decisions, refine strategic decisions, and seize new opportunities. By gaining a comprehensive view of these trends, business organizations can mitigate various risks across political, geographic, technical, social, and economic domains while also gaining a clearer understanding of consumer behavior and its impact on manufacturing costs and purchasing trends.

Market Drivers
- Increasing number of airport projects and high usage in the construction industry and welded in various shapes and grades
- Growth in steel consumption and increasing residential housing units
- Upsurge in smart city projects supported by government and private financing
Market Restraints
- Limited awareness about structural steel in the construction industries
Market Opportunities
- Rise in infrastructure spending on highways, bridges, buildings, and public utilities
- Technological advancements in prefabricated and pre-engineered building projects
Market Challenges
- Fatigue and fracture in steel

Porter's Five Forces: A Strategic Tool for Navigating the Structural Steel Market

Porter's five forces framework is a critical tool for understanding the competitive landscape of the Structural Steel Market. It offers business organizations with a clear methodology for evaluating their competitive positioning and exploring strategic opportunities. This framework helps businesses assess the power dynamics within the market and determine the profitability of new ventures. With these insights, business organizations can leverage their strengths, address weaknesses, and avoid potential challenges, ensuring a more resilient market positioning.

PESTLE Analysis: Navigating External Influences in the Structural Steel Market

External macro-environmental factors play a pivotal role in shaping the performance dynamics of the Structural Steel Market. Political, Economic, Social, Technological, Legal, and Environmental factors analysis provides the necessary information to navigate these influences. By examining PESTLE factors, businesses can better understand potential risks and opportunities. This analysis enables business organizations to anticipate changes in regulations, consumer preferences, and economic trends, ensuring they are prepared to make proactive, forward-thinking decisions.

Market Share Analysis: Understanding the Competitive Landscape in the Structural Steel Market

A detailed market share analysis in the Structural Steel Market provides a comprehensive assessment of vendors' performance. Companies can identify their competitive positioning by comparing key metrics, including revenue, customer base, and growth rates. This analysis highlights market concentration, fragmentation, and trends in consolidation, offering vendors the insights required to make strategic decisions that enhance their position in an increasingly competitive landscape.

FPNV Positioning Matrix: Evaluating Vendors' Performance in the Structural Steel Market

The Forefront, Pathfinder, Niche, Vital (FPNV) Positioning Matrix is a critical tool for evaluating vendors within the Structural Steel Market. This matrix enables business organizations to make well-informed decisions that align with their goals by assessing vendors based on their business strategy and product satisfaction. The four quadrants provide a clear and precise segmentation of vendors, helping users identify the right partners and solutions that best fit their strategic objectives.

Strategy Analysis & Recommendation: Charting a Path to Success in the Structural Steel Market

A strategic analysis of the Structural Steel Market is essential for businesses looking to strengthen their global market presence. By reviewing key resources, capabilities, and performance indicators, business organizations can identify growth opportunities and work toward improvement. This approach helps businesses navigate challenges in the competitive landscape and ensures they are well-positioned to capitalize on newer opportunities and drive long-term success.

Key Company Profiles

The report delves into recent significant developments in the Structural Steel Market, highlighting leading vendors and their innovative profiles. These include ACRALOCK by Engineered Bonding Solutions, LLC,, Ansteel Group Corporation Limited, Baosteel Special Material Co., Ltd., ESC GROUP, Evraz PLC, Hyundai Steel, JFE Holdings, Inc., JSW Severfield Structures Limited, Midwest Steel, NIPPON STEEL CORPORATION, Nucor Corporation, PAG-ASA STEEL WORKS, INC., POSCO Holdings Inc., SSAB Group, and Tata Group.

Market Segmentation & Coverage

This research report categorizes the Structural Steel Market to forecast the revenues and analyze trends in each of the following sub-markets:

Based on Product, market is studied across Heavy structural Steel, Light Structural Steel, and Rebar. The Heavy structural Steel is further studied across Angle [L shaped], Bearing Pile [H shaped], Channel [C shaped], Hollow Steel Section [HSS], I Beam [I shaped], Pipe, and Tee [T shaped]. The Light Structural Steel is further studied across Angle [L shaped], Bearing Pile [H shaped], Channel [C shaped], Hollow Steel Section [HSS], I Beam [I shaped], Pipe, and Tee [T shaped].
Based on Application, market is studied across Curvilinear Roofs, Large Facades, and Walls.
Based on End Use, market is studied across Non-Residential and Residential. The Non-Residential is further studied across Commercial, Industrial, Institutional, and Offices.
Based on Region, market is studied across Americas, Asia-Pacific, and Europe, Middle East & Africa. The Americas is further studied across Argentina, Brazil, Canada, Mexico, and United States. The United States is further studied across California, Florida, Illinois, New York, Ohio, Pennsylvania, and Texas. The Asia-Pacific is further studied across Australia, China, India, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan, Thailand, and Vietnam. The Europe, Middle East & Africa is further studied across Denmark, Egypt, Finland, France, Germany, Israel, Italy, Netherlands, Nigeria, Norway, Poland, Qatar, Russia, Saudi Arabia, South Africa, Spain, Sweden, Switzerland, Turkey, United Arab Emirates, and United Kingdom.

The report offers a comprehensive analysis of the market, covering key focus areas:

1. Market Penetration: A detailed review of the current market environment, including extensive data from top industry players, evaluating their market reach and overall influence.

2. Market Development: Identifies growth opportunities in emerging markets and assesses expansion potential in established sectors, providing a strategic roadmap for future growth.

3. Market Diversification: Analyzes recent product launches, untapped geographic regions, major industry advancements, and strategic investments reshaping the market.

4. Competitive Assessment & Intelligence: Provides a thorough analysis of the competitive landscape, examining market share, business strategies, product portfolios, certifications, regulatory approvals, patent trends, and technological advancements of key players.

5. Product Development & Innovation: Highlights cutting-edge technologies, R&D activities, and product innovations expected to drive future market growth.

The report also answers critical questions to aid stakeholders in making informed decisions:

1. What is the current market size, and what is the forecasted growth?

2. Which products, segments, and regions offer the best investment opportunities?

3. What are the key technology trends and regulatory influences shaping the market?

4. How do leading vendors rank in terms of market share and competitive positioning?

5. What revenue sources and strategic opportunities drive vendors' market entry or exit strategies?

Product Code: MRR-563BF1FCFB38

1. Preface

1.1. Objectives of the Study
1.2. Market Segmentation & Coverage
1.3. Years Considered for the Study
1.4. Currency & Pricing
1.5. Language
1.6. Stakeholders

2. Research Methodology

2.1. Define: Research Objective
2.2. Determine: Research Design
2.3. Prepare: Research Instrument
2.4. Collect: Data Source
2.5. Analyze: Data Interpretation
2.6. Formulate: Data Verification
2.7. Publish: Research Report
2.8. Repeat: Report Update

3. Executive Summary

4. Market Overview

5. Market Insights

5.1. Market Dynamics
- 5.1.1. Drivers
  - 5.1.1.1. Increasing number of airport projects and high usage in the construction industry and welded in various shapes and grades
  - 5.1.1.2. Growth in steel consumption and increasing residential housing units
  - 5.1.1.3. Upsurge in smart city projects supported by government and private financing
- 5.1.2. Restraints
  - 5.1.2.1. Limited awareness about structural steel in the construction industries
- 5.1.3. Opportunities
  - 5.1.3.1. Rise in infrastructure spending on highways, bridges, buildings, and public utilities
  - 5.1.3.2. Technological advancements in prefabricated and pre-engineered building projects
- 5.1.4. Challenges
  - 5.1.4.1. Fatigue and fracture in steel
5.2. Market Segmentation Analysis
5.3. Porter's Five Forces Analysis
- 5.3.1. Threat of New Entrants
- 5.3.2. Threat of Substitutes
- 5.3.3. Bargaining Power of Customers
- 5.3.4. Bargaining Power of Suppliers
- 5.3.5. Industry Rivalry
5.4. PESTLE Analysis
- 5.4.1. Political
- 5.4.2. Economic
- 5.4.3. Social
- 5.4.4. Technological
- 5.4.5. Legal
- 5.4.6. Environmental

6. Structural Steel Market, by Product

6.1. Introduction
6.2. Heavy structural Steel
- 6.2.1. Angle [L shaped]
- 6.2.2. Bearing Pile [H shaped]
- 6.2.3. Channel [C shaped]
- 6.2.4. Hollow Steel Section [HSS]
- 6.2.5. I Beam [I shaped]
- 6.2.6. Pipe
- 6.2.7. Tee [T shaped]
6.3. Light Structural Steel
- 6.3.1. Angle [L shaped]
- 6.3.2. Bearing Pile [H shaped]
- 6.3.3. Channel [C shaped]
- 6.3.4. Hollow Steel Section [HSS]
- 6.3.5. I Beam [I shaped]
- 6.3.6. Pipe
- 6.3.7. Tee [T shaped]
6.4. Rebar

7. Structural Steel Market, by Application

7.1. Introduction
7.2. Curvilinear Roofs
7.3. Large Facades
7.4. Walls

8. Structural Steel Market, by End Use

8.1. Introduction
8.2. Non-Residential
- 8.2.1. Commercial
- 8.2.2. Industrial
- 8.2.3. Institutional
- 8.2.4. Offices
8.3. Residential

9. Americas Structural Steel Market

9.1. Introduction
9.2. Argentina
9.3. Brazil
9.4. Canada
9.5. Mexico
9.6. United States

10. Asia-Pacific Structural Steel Market

10.1. Introduction
10.2. Australia
10.3. China
10.4. India
10.5. Indonesia
10.6. Japan
10.7. Malaysia
10.8. Philippines
10.9. Singapore
10.10. South Korea
10.11. Taiwan
10.12. Thailand
10.13. Vietnam

11. Europe, Middle East & Africa Structural Steel Market

11.1. Introduction
11.2. Denmark
11.3. Egypt
11.4. Finland
11.5. France
11.6. Germany
11.7. Israel
11.8. Italy
11.9. Netherlands
11.10. Nigeria
11.11. Norway
11.12. Poland
11.13. Qatar
11.14. Russia
11.15. Saudi Arabia
11.16. South Africa
11.17. Spain
11.18. Sweden
11.19. Switzerland
11.20. Turkey
11.21. United Arab Emirates
11.22. United Kingdom

12. Competitive Landscape

12.1. Market Share Analysis, 2023
12.2. FPNV Positioning Matrix, 2023
12.3. Competitive Scenario Analysis
12.4. Strategy Analysis & Recommendation

Companies Mentioned

1. ACRALOCK by Engineered Bonding Solutions, LLC,
2. Ansteel Group Corporation Limited
3. Baosteel Special Material Co., Ltd.
4. ESC GROUP
5. Evraz PLC
6. Hyundai Steel
7. JFE Holdings, Inc.
8. JSW Severfield Structures Limited
9. Midwest Steel
10. NIPPON STEEL CORPORATION
11. Nucor Corporation
12. PAG-ASA STEEL WORKS, INC.
13. POSCO Holdings Inc.
14. SSAB Group
15. Tata Group