San Francisco, 19 December 2018, Structural Steel Market Analysis By Application (Non Residential
(Industrial, Commercial, Offices, Institutional), Residential), By Region,
Competitive Landscape, And Segment Forecasts, 2018 – 2025
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.
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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)
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Grand View Research At: 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
o
Industrial
o
Commercial
o
Offices
o
Institutional
·
Residential
Structural Steel Regional
Outlook (Volume, Kilo Tons; Revenue, USD Million; 2014 - 2025)
·
North America
o
U.S.
o
Canada
o
Mexico
·
Western Europe
o
Germany
o
UK
o
France
o
Spain
·
Eastern Europe
o
Russia
o
Turkey
o
Poland
o
Rest of Eastern Europe
·
North Asia
o
China
o
Taiwan
o
Japan
·
Southeast Asia
o
Thailand
o
Malaysia
o
Singapore
o
Indonesia
o
Vietnam
o
Philippines
·
South Asia
o
India
·
Oceania
o
Australia
o
New Zealand
·
Central & South America
o
Brazil
·
Middle East & Africa
o
Saudi Arabia
o
UAE
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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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