The global structural steel market is expected to reach USD
140.4 billion by 2025, according to a new report by Grand View Research, Inc.
recovery of construction industry in developed markets of the U.S., Germany and
UK is expected to foster industry growth.
Increasing awareness among
end-users owing to advantages such as design flexibility, energy efficiency and
faster completion of prefabricated/engineered building (PEBs) projects using
channels and beams is expected to drive demand. Upsurge in infrastructure
development projects in China and India, improving standards of living, high
urbanization rates and requirements for sanitation are the major growth drivers
for Asia Pacific region, particularly in commercial and residential sectors.
Companies are investing in
R&D for technological advancements, cost minimization, and production
maximization. Technologies deployed for the production are thin-slab casting,
electric furnace and vacuum degassing. Residential segment is expected to grow
at a CAGR of 4.1%, from 2016 to 2025, owing to rapid urbanization and positive
outlook on economic development. It minimizes the loads on foundations and also
reduces sub-structure costs in residential buildings.
Browse full research report on Structural Steel Market:
http://www.grandviewresearch.com/industry-analysis/structural-steel-market
Further key findings from
the report suggest:
- Structural steel market volume was estimated at
nearly 125 million tons in 2015, and is projected to grow at a CAGR of
over 4.0% from 2016 to 2025
- North Asia emerged as the leading regional market and
accounted for over 60% of the overall volume in 2015. North Asia is
expected to grow significantly over the forecast period owing to
increasing construction spending in countries such as China, Japan and
Hong Kong
- Demand in construction industry is further driven by
adoption of advancements in structural design methods, evolving building
practices, and strong raw material availability
- Industrial applications are likely to generate high
demand as well over the forecast period owing to governments focus towards
construction development such as Smart Cities project in India
- India is one of the fastest emerging economies in
steel production and is characterized by substantial number of economic
reforms and implementation of merger & acquisition deals by companies.
- Major key operating companies include Baogang Group,
Bohai Group Co., Ltd., Anshan Iron & Group Corporation, Anyang Iron
& Group Corporation, Arcelor Mittal S.A., Benxi Beiying Group Co.
Ltd., Evraz Group, Hebei Group, POSCO, Tata Limited, Steel Authority of
India Limited, Gerdau S.A. and Nippon Steel & Sumitomo Metal
Corporation (NSSMC)
Browse more reports of this category by Grand View Research:
http://www.grandviewresearch.com/industry/hvac-and-construction-technologies
Grand View Research has segmented the structural steel
market on the basis application and region:
Structural Steel Application Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
- Non-residential
- Industrial
- Commercial
- Offices
- Institutional
- Residential
Structural Steel Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
- North
America
- U.S.
- Canada
- Mexico
- Western
Europe
- Germany
- UK
- France
- Spain
- Eastern
Europe
- Russia
- Turkey
- Poland
- Rest
of Eastern Europe
- North
Asia
- China
- Taiwan
- Japan
- Southeast
Asia
- Thailand
- Malaysia
- Singapore
- Indonesia
- Vietnam
- Philippines
- South
Asia
- India
- Oceania
- Australia
- New
Zealand
- Central
& South America
- Brazil
- Middle
East & Africa
- Saudi
Arabia
- UAE
About Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides
syndicated research reports, customized research reports, and consulting services.
To help clients make informed business decisions, we offer market intelligence
studies ensuring relevant and fact-based research across a range of industries,
from technology to chemicals, materials and healthcare.
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