Dublin, Feb. 12, 2025 (GLOBE NEWSWIRE) — The “Structural Steel – Global Strategic Business Report” report has been added to ResearchAndMarkets.com’s offering.
The global market for Structural Steel was estimated at US$103.6 Billion in 2023 and is projected to reach US$143.0 Billion by 2030, growing at a CAGR of 4.7% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
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 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.
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.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Global Structural Steel Market such as Anshan Iron & Steel Group Corporation, Anyang Iron & Steel Group Co. Ltd., Arcelor Mittal S.A., Baogang Group, Bohai Steel Group Co. Ltd. and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Non-Residential Application segment, which is expected to reach US$74.9 Billion by 2030 with a CAGR of a 4.5%. The Residential Application segment is also set to grow at 5.0% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, estimated at $28.0 Billion in 2023, and China, forecasted to grow at an impressive 7.8% CAGR to reach $30.4 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 93 |
| Forecast Period | 2023 – 2030 |
| Estimated Market Value (USD) in 2023 | $103.6 Billion |
| Forecasted Market Value (USD) by 2030 | $143 Billion |
| Compound Annual Growth Rate | 4.7% |
| Regions Covered | Global |
Key Topics Covered:
MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- Global Economic Update
- Structural Steel – Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Rising Demand in Construction and Infrastructure Projects Drives Structural Steel Market
- Increasing Use in High-Rise Buildings Spurs Growth in Steel Adoption
- Advancements in Steel Fabrication Technologies Propel Market Expansion
- Growing Focus on Green Buildings Expands Structural Steel Applications
- Rising Use in Renewable Energy Structures Enhances Market Opportunities
- Growing Demand in Industrial Construction Spurs Structural Steel Adoption
- Advancements in Fire-Resistant Steel Materials Expand Addressable Market
- Rising Use of Prefabricated Steel Structures Drives Demand
- Focus on Lightweight Steel Structures Propels Market Growth
- Increasing Adoption in Bridge Construction Enhances Business Case for Steel
- Growing Adoption in Modular Construction Expands Structural Steel Market
- Advancements in High-Strength Steel Alloys Propel Market Growth
FOCUS ON SELECT PLAYERS:Some of the 42 companies featured in this report
- 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
For more information about this report visit https://www.researchandmarkets.com/r/e8g34n
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