PUBLISHER: The Business Research Company | PRODUCT CODE: 1711253
PUBLISHER: The Business Research Company | PRODUCT CODE: 1711253
A steel structure is a framework primarily composed of steel elements such as beams, columns, and trusses, designed to support loads and ensure stability in construction projects such as buildings, bridges, and industrial facilities. Steel structures are renowned for their strength, durability, and resilience to various environmental conditions.
The main types of steel structures include carbon steel structures, alloy steel structures, special steel structures, and others. Carbon steel structures are built mainly from carbon steel, an alloy of iron and carbon. The range of products includes angles, channels, and rounds, and these structures are utilized in various applications, including industrial, commercial, institutional, and residential projects.
The steel structure market research report is one of a series of new reports from The Business Research Company that provides steel structure market statistics, including the steel structure industry global market size, regional shares, competitors with steel structure market share, detailed steel structure market segments, market trends, and opportunities, and any further data you may need to thrive in the steel structure industry. These steel structure market research reports deliver a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
The steel structure market size has grown strongly in recent years. It will grow from $118.15 $ billion in 2024 to $124.72 $ billion in 2025 at a compound annual growth rate (CAGR) of 5.6%. The growth in the historic period can be attributed to an increase in demand for durable construction materials, growth in infrastructure development, rise in investment in industrial and commercial construction, growth of the real estate sector, and increase in preference for prefabricated construct.
The steel structure market size is expected to see strong growth in the next few years. It will grow to $153.25 $ billion in 2029 at a compound annual growth rate (CAGR) of 5.3%. The growth in the forecast period can be attributed to rising demand for high strength, lightweight materials, growing commercial construction projects, rising use of steel in residential buildings, rising need for earthquake-resistant buildings, and rising preference for pre-engineered steel buildings. Major trends in the forecast period include the adoption of advanced steel alloys, the development of modular steel structures, advancements in steel recycling technologies, integration of BIM (building information modeling), and advancements in high strength steel.
The growth in investments in residential buildings is anticipated to drive the expansion of the steel structure market. Residential buildings, which include homes, flats, and condominiums, are constructed primarily for people to live in. The rise in investment for residential construction is fueled by increasing housing demand due to population growth, urbanization, and low interest rates. Steel structures offer improved strength, durability, and design flexibility, which support innovative architectural designs and provide enhanced safety against natural disasters. For example, in March 2024, the Australian Bureau of Statistics reported that there were 30,992 new private house dwellings, marking a 3.7% increase from December 2023 and a 14.6% rise from March 2023. Additionally, completions of other new private residential buildings grew to 14,844 dwellings, up 5.6% compared to December 2023. Thus, the increased investment in residential buildings is fueling the steel structure market.
Key players in the steel structure market are developing advanced products with new technologies, such as steel building solutions technology, to enhance building efficiency, shorten construction time, and improve structural integrity. These technologies improve steel structures by offering advanced design, precision engineering, and efficient construction methods, which enhance structural integrity, reduce construction time, and optimize material usage. For example, in August 2022, APL Apollo, an India-based manufacturer of structural steel tubes and pipes, introduced next-generation steel building solutions featuring high-strength welded steel tubes (HSS) for use in towers, bridges, cranes, highway guardrails, and sign supports. These tubes provide exceptional strength and aesthetic appeal, with advancements such as pre-fabrication and precise engineering that streamline construction, reduce project durations, and lower costs.
In April 2024, Walters Group, a Canada-based steel construction company, acquired Dave Steel Company Inc. for an undisclosed amount. This acquisition is intended to strengthen Walters Group's service capabilities, expand its market presence, and enhance operational efficiencies, thereby increasing competitiveness in the steel construction sector. Dave Steel Company Inc., a US-based firm, specializes in structural steel fabrication and erection services for industrial, institutional, and commercial projects.
Major companies operating in the steel structure market are ArcelorMittal S.A., Posco Holdings Inc., ThyssenKrupp AG, Nucor Corporation, JFE Holdings Inc., Maanshan Iron and Steel Company Limited, Tata Steel Limited, Steel Dynamics Inc., United States Steel Corporation, Hyundai Steel Co. Ltd., JSW Steel Limited, Voestalpine AG, Gerdau S.A., Ansteel Group Corporation Limited, China Steel Corporation, EVRAZ plc, Salzgitter AG, Steel Authority of India Limited, BlueScope Steel Limited, SSAB AB, Outokumpu Oyj, Commercial Metals Company, Severstal PAO, Liberty Steel Group Holdings UK Ltd., Nippon Steel Corporation
Asia-Pacific was the largest region in the steel structure market in 2023. The regions covered in the steel structure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the steel structure market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The steel structure market consists of sales of steel beams, columns, frames, plates, gratings, tubes, structural sections, and roof trusses. 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.
Steel Structure Global Market Report 2025 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 steel structure 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.
Where is the largest and fastest growing market for steel structure ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The steel structure 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 forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.