Structural Steel industry analysis research and trends report for 2017- 2024

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Structural Steel industry analysis research and
trends report for 2017- 2024
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• Overview

• Structural Steel Market size should grow
  significantly during forecast timeframe due to
  strong economic growth rate amongst developing
  regions along with increased government
  expenditure on public infrastructure development
  such as bridges, offices, housing societies and
  hospitals.
• Emerging private sector infrastructure
  development firms in India, Mexico and UAE should
  offer positive market growth opportunities.These
  products exhibit superior properties like high
  strength, ductility, ease of fabrication, seismic
  resistance and fast erection speed, hence find
  wide application scope in construction of
  non-residential projects like airports,
  manufacturing facilities, healthcare facilities
  and big box retail stores.
• Various steel sections used include channels,
  angles, wide flanges and I-beams owing to their
  design flexibility and energy efficiency
  propagating growth opportunity for structural
  steel market growth.
• Growing awareness among end-users about design
  flexibility, faster installation and energy
  efficiency of beams and channels in prefabricated
  engineered building (PEBs) projects should propel
  the product demand. Surging demand for
  infrastructure development projects in India,
  China and Brazil owing to sanitation requirement,
  improved standards of living and rapid
  urbanization will catalyze structural steel
  market growth.

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• Technological advancements in construction
  industry for production maximization and cost
  reduction should foster the high performance
  structural steel demand. Increased spending on
  construction refurbishment sector in developed
  countries like Germany, UK and the U.S. should be
  a key factor for industry growth.
• Global construction industry size may surpass
  over USD 7 trillion by 2024 and will propel
  structural steel market size.Structural steel
  market size from industrial building application
  should witness strong gains owing to its product
  durability and immense strength, beneficial for
  building integrity along with lowered potential
  repair impacts. They are ideally used in building
  large bridges which can be attributed to their
  excellent strength-to-weight ratio ensuring
  capacity to withstand weights of pedestrian and
  vehicles.
• Structural steel market size from residential
  building application ranges from single family
  house to mixed space building and should augment
  product demand.
• Growing consumer preferences towards environment
  friendly product along with improved investor
  confidence in building public infrastructure will
  catalyze demand owing to products recyclability
  with no degradation.

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• 360 Analysis

• China structural steel market size will witness
  significant gains during forecast timeframe owing
  to rapid industrial development and increasing
  infrastructural spending for non-residential
  projects like airport, bridges, hospitals and
  manufacturing facilities.
• China construction industry should surpass USD
  1.5 trillion by 2024. Rise in the number of
  public private partnership (PPP) projects in
  construction industry should propel regional
  product demand.
• Europe structural steel market size led by
  France, Italy and Germany should grow
  significantly by 2024. This increase in demand
  can be attributed to increasing institutional
  construction activities in the region. Europe is
  the second largest producer of steel in the world
  after China with output surpassing 170 million
  tons annually. Most companies set up their
  corporate offices in European region implying
  increased construction activities propelling the
  regional product demand.
• U.S. structural steel market size is likely to
  witness strong gains during forecast timeperiod.
  This growth in product demand can be accounted to
  increased spending on building skyscrapers. Using
  these structures saves cost and time and
  efficiently utilizes resources to replacing
  conventional building materials along with
  adopting innovative construction methodologies.  

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Competitive Trends

• The notable industries Structural Steel are
• Baogang Group,
• Anshan Iron Group,
• Steel Authority of India,
• Nippon Steel,
• Sumitomo Metal Corp.,
• Arcellor Mittal,
• Anyang Group,
• Hyundai Steel,
• POSCO
• Baosteel Group.

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