Structural Steel Market trends research and projections for 2019 - 2024

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Structural Steel Market Growth Outlook with
Industry Review and Forecast 2019-2024
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Global Market Scenario of Structural Steel
Industry

• China structural steel market from I shaped heavy
  sections is projected to surpass USD 16 billion
  by 2024. I-beams are most widely used sections
  owing to their high strength and their
  applicability to create spacious and large rooms
  with slight support channels. Growing revamp
  activities in the region is likely to foster
  product demand as these beams are used to replace
  old structural channels with new ones. Its
  increasing usage in construction of frames for
  elevators, trolley truck beds, and trailer is
  likely to have a positive outlook on structural
  steel market.
• U.S. structural steel market from energy
  development application may witness gains at over
  5 by 2024. These products are extensively used
  in numerous energy sector including nuclear,
  electric natural gas and wind power plants and
  rigs with application in construction of
  transmission towers, oil and gas wells,
  transformer cores and pipelines. Increasing
  energy company activities to produce oil gas,
  coal and renewable fuels are likely to fuel
  construction sector, therefore driving product
  demand.
• Manufacturers are broadly emphasizing on research
  and development activities to make cost effective
  and innovative products with primary importance
  is given to safety and toughness to fulfill
  consumer demand for effective construction.

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• Italy structural steel market from industrial
  applications may outdo 1 million tons in the
  predicted timeframe, owing to upgradation in
  existing industrial buildings, which is
  positively affecting the market growth. Growing
  support from government to restore economic
  development through investments in infrastructure
  and industrial construction projects along with
  positive expansions in country's retail, tourism
  and manufacturing sectors are anticipated to
  support industrial growth.
• UK structural steel market from bridges is poised
  to witness gains at over 4 by 2024, owing to
  growing bridge construction for road, rail and
  sewer projects which is likely to support
  industry growth over the forecast timeframe.
  Initiations of major tunnel infrastructure
  projects and advancements in numerous London
  underground stations are projected to boost
  structural steel market.

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360 Industry Analysis

• Increasing industrial spaces demand involving
  design and construction along with growing
  preferability for sectional structures from
  fabricators, engineers, architects, contractors
  and designers are major factors which is likely
  to stimulate structural steel market by 2024.
• Growing residential non-residential buildings
  along with rising number of manufacturing
  facilities globally is likely to drive structural
  steel market. Iron and carbon are the main
  constituents used in manufacturing of structural
  steels. These products are extensively used for
  construction of transmission line towers,
  buildings, and manufacturing sheds. They are
  manufactured in numerous shapes and sizes
  including, angle (L-shape), I-beam, hollow
  structural section (HSS), T-shaped shape and
  Z-shape.

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• Competitive Analysis
• Key players in the structural steel market
  includes ArcelorMittal, Shagang Group, POSCO,
  Evraz Group, Nucor Corporation, Erdemir Group and
  Voestalpine AG, Severstal, Tata, SSAB AB and
  JSPL.

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