Structural Steel Global Market Report 2024

Description

Structural steel is a category of steel used in construction to support and shape buildings and infrastructure. It encompasses various shapes and sizes, such as beams, columns, and plates, designed to withstand specific loads and stresses. Its strength, durability, and versatility make it an essential material in structural engineering and construction.

The main types of structural steel are hot-rolled steel and cold-rolled steel. Hot-rolled steel is processed at high temperatures, typically above its recrystallization point, to achieve the desired shapes and properties. This method results in a material with enhanced strength and durability. Products include heavy sectional steel, light sectional steel, and rebar, and these are used in both residential and non-residential applications.

The structural steel market research report is one of a series of new reports from The Business Research Company that provides structural steel market statistics, including structural steel industry global market size, regional shares, competitors with a structural steel market share, detailed structural steel market segments, market trends and opportunities, and any further data you may need to thrive in the structural steel industry. This structural steel market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The structural steel market size has grown strongly in recent years. It will grow from $102.97 billion in 2023 to $109.06 billion in 2024 at a compound annual growth rate (CAGR) of 5.9%. The growth observed during the historic period can be attributed to rising demand for energy conservation, the need to reduce waste in construction, stringent regulations on carbon emissions, the urgency to address rapid deforestation, and increasing populations in expanding economies.

The structural steel market size is expected to see strong growth in the next few years. It will grow to $137.75 billion in 2028 at a compound annual growth rate (CAGR) of 6.0%. The anticipated growth during the forecast period can be attributed to the rising need for stainless steel, a growing interest in green building construction, the expansion of manufacturing industries, increased focus on recycling, and a rising demand for sustainable steelmaking practices. Key trends in this period include digitalization and Industry 4.0, building information modeling (BIM), advanced high-strength steel (AHSS), sustainable steel production, and advancements in automation and robotics.

The rise in construction of residential and commercial infrastructure is expected to boost the growth of the structural steel market. Residential and commercial infrastructure encompasses the buildings and facilities that support housing and business activities, including homes, apartments, offices, retail spaces, and other essential structures. The growth in this sector is driven by smart city initiatives, strategic infrastructure planning, affordable housing projects, and sustainability efforts led by government bodies. Structural steel is crucial for these projects due to its strength and versatility, providing essential support and stability for building frameworks and large-scale construction efforts. For example, the US Census Bureau reported in August 2024 that the value of construction operations for residential projects in the US increased from $875.5 billion in June 2023 to $939.8 billion in June 2024, a 7.3% rise. Similarly, the value of non-residential construction operations grew from $1.15 trillion in June 2023 to $1.21 trillion in June 2024, a 5.3% increase. Thus, the growing construction of residential and commercial infrastructure is driving the expansion of the structural steel market.

Leading companies in the structural steel market are focusing on developing steel building solutions to enhance construction methods. These solutions offer robust, versatile, and efficient methods for creating durable and adaptable infrastructure. For instance, in July 2022, APL Apollo, an India-based structural steel tubing company, introduced next-generation steel building solutions technology. This innovation features heavy structural tubular products designed to accelerate project completion while delivering superior quality, strength, cost-effectiveness, and environmental benefits. The prefabricated, precisely engineered tubular sections simplify fabrication, saving time and effort in constructing various structures such as hospitals, factories, and commercial offices.

In May 2024, Lainco Inc., a Canada-based structural project management firm, acquired Charpentes D'Acier Sofab Inc. for an undisclosed amount. This acquisition aims to position Lainco for continued success and growth in the structural steel sector, enhancing its ability to offer innovative solutions and maintain high service standards for a wider customer base. Charpentes D'Acier Sofab Inc. is a structural steel manufacturing company based in Canada.

Major companies operating in the structural steel market are Severstal, ArcelorMittal S.A., POSCO, China Baowu Steel Group Corp Ltd, Nippon Steel Corporation, Thyssenkrupp AG, Nucor Corporation, JFE Steel Corporation, Tata Steel Limited, United States Steel Corporation, JSW Steel, HBIS GROUP, Hyundai Steel Co Ltd, Ansteel Group, Voestalpine AG, Jiangsu Shagang Group Co Ltd, Gerdau S.A, Evraz Plc, Steel Authority of India Limited (SAIL), SSAB AB, Outokumpu Oyj, Anyang Iron & Steel Group Co. Ltd, British Steel Limited

Asia-Pacific was the largest region in the structural steel market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the structural steel market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the structural steel market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The structural steel market consists of sales of carbon steel, high-strength carbon steel, weathering steel, and fire-resistant steel. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

Structural Steel Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.

This report focuses on structural steel market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.

Reasons to Purchase

Gain a truly global perspective with the most comprehensive report available on this market covering 50+ geographies.
Understand how the market has been affected by the COVID-19 and how it is responding as the impact of the virus abates.
Assess the Russia - Ukraine war's impact on agriculture, energy and mineral commodity supply and its direct and indirect impact on the market.
Measure the impact of high global inflation on market growth.
Create regional and country strategies on the basis of local data and analysis.
Identify growth segments for investment.
Outperform competitors using forecast data and the drivers and trends shaping the market.
Understand customers based on the latest market shares.
Benchmark performance against key competitors.
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Report will be updated with the latest data and delivered to you within 3-5 working days of order along with an Excel data sheet for easy data extraction and analysis.
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Where is the largest and fastest growing market for structural steel ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The structural steel market global report from the Business Research Company answers all these questions and many more.

The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.

The market characteristics section of the report defines and explains the market.
The market size section gives the market size ($b) covering both the historic growth of the market, and forecasting its development.
The forecasts are made after considering the major factors currently impacting the market. These include:

The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.

The impact of higher inflation in many countries and the resulting spike in interest rates.

The continued but declining impact of COVID-19 on supply chains and consumption patterns.

Market segmentations break down the market into sub markets.
The regional and country breakdowns section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers the growth trajectory of COVID-19 for all regions, key developed countries and major emerging markets.
The competitive landscape chapter gives a description of the competitive nature of the market, market shares, and a description of the leading companies. Key financial deals which have shaped the market in recent years are identified.
The trends and strategies section analyses the shape of the market as it emerges from the crisis and suggests how companies can grow as the market recovers.

Scope

Markets Covered:1) By Type: Hot-Rolled Steel; Cold-Rolled Steel
2) By Product: Heavy Sectional Steel; Light Sectional Steel; Rebar
3) By Application: Residential; Non-Residential
Companies Mentioned: Severstal; ArcelorMittal S.A.; POSCO; China Baowu Steel Group Corp Ltd; Nippon Steel Corporation
Countries: Australia; Brazil; China; France; Germany; India; Indonesia; Japan; Russia; South Korea; UK; USA; Canada; Italy; Spain
Regions: Asia-Pacific; Western Europe; Eastern Europe; North America; South America; Middle East; Africa
Time series: Five years historic and ten years forecast.
Data: Ratios of market size and growth to related markets, GDP proportions, expenditure per capita,
Data segmentations: country and regional historic and forecast data, market share of competitors, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Delivery format: PDF, Word and Excel Data Dashboard.

Product Code: r20877

1. Executive Summary

2. Structural Steel Market Characteristics

3. Structural Steel Market Trends And Strategies

4. Structural Steel Market - Macro Economic Scenario

4.1. Impact Of High Inflation On The Market
4.2. Ukraine-Russia War Impact On The Market
4.3. COVID-19 Impact On The Market

5. Global Structural Steel Market Size and Growth

5.1. Global Structural Steel Market Drivers and Restraints
- 5.1.1. Drivers Of The Market
- 5.1.2. Restraints Of The Market
5.2. Global Structural Steel Historic Market Size and Growth, 2018 - 2023, Value ($ Billion)
5.3. Global Structural Steel Forecast Market Size and Growth, 2023 - 2028, 2033F, Value ($ Billion)

6. Structural Steel Market Segmentation

6.1. Global Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Hot-Rolled Steel
Cold-Rolled Steel
6.2. Global Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Heavy Sectional Steel
Light Sectional Steel
Rebar
6.3. Global Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
Residential
Non-Residential

7. Structural Steel Market Regional And Country Analysis

7.1. Global Structural Steel Market, Split By Region, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
7.2. Global Structural Steel Market, Split By Country, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

8. Asia-Pacific Structural Steel Market

8.1. Asia-Pacific Structural Steel Market Overview
Region Information, Impact Of COVID-19, Market Information, Background Information, Government Initiatives, Regulations, Regulatory Bodies, Major Associations, Taxes Levied, Corporate Tax Structure, Investments, Major Companies
8.2. Asia-Pacific Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.3. Asia-Pacific Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
8.4. Asia-Pacific Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

9. China Structural Steel Market

9.1. China Structural Steel Market Overview
9.2. China Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.3. China Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion
9.4. China Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F,$ Billion

10. India Structural Steel Market

10.1. India Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.2. India Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
10.3. India Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

11. Japan Structural Steel Market

11.1. Japan Structural Steel Market Overview
11.2. Japan Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.3. Japan Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
11.4. Japan Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

12. Australia Structural Steel Market

12.1. Australia Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.2. Australia Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
12.3. Australia Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

13. Indonesia Structural Steel Market

13.1. Indonesia Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.2. Indonesia Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
13.3. Indonesia Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

14. South Korea Structural Steel Market

14.1. South Korea Structural Steel Market Overview
14.2. South Korea Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.3. South Korea Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
14.4. South Korea Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

15. Western Europe Structural Steel Market

15.1. Western Europe Structural Steel Market Overview
15.2. Western Europe Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.3. Western Europe Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
15.4. Western Europe Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

16. UK Structural Steel Market

16.1. UK Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.2. UK Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
16.3. UK Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

17. Germany Structural Steel Market

17.1. Germany Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.2. Germany Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
17.3. Germany Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

18. France Structural Steel Market

18.1. France Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.2. France Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
18.3. France Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

19. Italy Structural Steel Market

19.1. Italy Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.2. Italy Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
19.3. Italy Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

20. Spain Structural Steel Market

20.1. Spain Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.2. Spain Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
20.3. Spain Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

21. Eastern Europe Structural Steel Market

21.1. Eastern Europe Structural Steel Market Overview
21.2. Eastern Europe Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.3. Eastern Europe Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
21.4. Eastern Europe Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

22. Russia Structural Steel Market

22.1. Russia Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.2. Russia Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
22.3. Russia Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

23. North America Structural Steel Market

23.1. North America Structural Steel Market Overview
23.2. North America Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.3. North America Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
23.4. North America Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

24. USA Structural Steel Market

24.1. USA Structural Steel Market Overview
24.2. USA Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.3. USA Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
24.4. USA Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

25. Canada Structural Steel Market

25.1. Canada Structural Steel Market Overview
25.2. Canada Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.3. Canada Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
25.4. Canada Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

26. South America Structural Steel Market

26.1. South America Structural Steel Market Overview
26.2. South America Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.3. South America Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
26.4. South America Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

27. Brazil Structural Steel Market

27.1. Brazil Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.2. Brazil Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
27.3. Brazil Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

28. Middle East Structural Steel Market

28.1. Middle East Structural Steel Market Overview
28.2. Middle East Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.3. Middle East Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
28.4. Middle East Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

29. Africa Structural Steel Market

29.1. Africa Structural Steel Market Overview
29.2. Africa Structural Steel Market, Segmentation By Type, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.3. Africa Structural Steel Market, Segmentation By Product, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion
29.4. Africa Structural Steel Market, Segmentation By Application, Historic and Forecast, 2018-2023, 2023-2028F, 2033F, $ Billion

30. Structural Steel Market Competitive Landscape And Company Profiles

30.1. Structural Steel Market Competitive Landscape
30.2. Structural Steel Market Company Profiles
- 30.2.1. Severstal
  - 30.2.1.1. Overview
  - 30.2.1.2. Products and Services
  - 30.2.1.3. Strategy
  - 30.2.1.4. Financial Performance
- 30.2.2. ArcelorMittal S.A.
  - 30.2.2.1. Overview
  - 30.2.2.2. Products and Services
  - 30.2.2.3. Strategy
  - 30.2.2.4. Financial Performance
- 30.2.3. POSCO
  - 30.2.3.1. Overview
  - 30.2.3.2. Products and Services
  - 30.2.3.3. Strategy
  - 30.2.3.4. Financial Performance
- 30.2.4. China Baowu Steel Group Corp Ltd
  - 30.2.4.1. Overview
  - 30.2.4.2. Products and Services
  - 30.2.4.3. Strategy
  - 30.2.4.4. Financial Performance
- 30.2.5. Nippon Steel Corporation
  - 30.2.5.1. Overview
  - 30.2.5.2. Products and Services
  - 30.2.5.3. Strategy
  - 30.2.5.4. Financial Performance

31. Structural Steel Market Other Major And Innovative Companies

31.1. Thyssenkrupp AG
31.2. Nucor Corporation
31.3. JFE Steel Corporation
31.4. Tata Steel Limited
31.5. United States Steel Corporation
31.6. JSW Steel
31.7. HBIS GROUP
31.8. Hyundai Steel Co Ltd
31.9. Ansteel Group
31.10. Voestalpine AG
31.11. Jiangsu Shagang Group Co Ltd
31.12. Gerdau S.A
31.13. Evraz Plc
31.14. Steel Authority of India Limited (SAIL)
31.15. SSAB AB

32. Global Structural Steel Market Competitive Benchmarking

33. Global Structural Steel Market Competitive Dashboard

34. Key Mergers And Acquisitions In The Structural Steel Market

35. Structural Steel Market Future Outlook and Potential Analysis

35.1 Structural Steel Market In 2028 - Countries Offering Most New Opportunities
35.2 Structural Steel Market In 2028 - Segments Offering Most New Opportunities
35.3 Structural Steel Market In 2028 - Growth Strategies
- 35.3.1 Market Trend Based Strategies
- 35.3.2 Competitor Strategies

36. Appendix

36.1. Abbreviations
36.2. Currencies
36.3. Historic And Forecast Inflation Rates
36.4. Research Inquiries
36.5. The Business Research Company
36.6. Copyright And Disclaimer