Report Ocean recently released a research report on the Structural Steel Market, which covers the market’s historical growth, cost structure, revenue, trends, and potential prospects for the period 2023-2031. The report provides an extensive coverage of the market across various categories and includes a detailed analysis at the national level, along with an evaluation of the key drivers, restraints, trends, and opportunities in the market.
The global structural steel market size is estimated to reach USD 141.49 billion by 2026 growing at a CAGR of 5.6% during the forecast period, according to a new study published by Report Ocean Market Research. The report ?Structural Steel Market, [By Product (Heavy Structural Steel and Light Structural Steel), By Application (Non-Residential {Industrial, Commercial, Offices, Institutional, and Others} and Residential), By Regions]: Market size & Forecast, 2018 – 2026′ provides an extensive analysis of present market dynamics and predicted future trends.
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Structural steel market is primarily driven by increased utilization in heavy-material industries. Increasing R&D operations in structural steel production to improve corrosion resistance, strength, and durability is likely to have a positive impact on the global structural steel industry. Rapidly growing demand from end-use industries such as is also expected to boost the market growth over the forecast period.
Structural steels have extensive application in transmission line towers, construction, and manufacturing sheds. Increasing awareness among consumer about flexibility and fabrication in construction materials is anticipated to increase structural steel market size over the forecast period. Increasing use of product in construction of residential and non-residential structures especially in the developing countries are major driving factors for the market.
Transmission tower is among one of the most significant applications that consumes large quantity of different type of structural steel. Global target by different regional governments to achieve maximum electrification, specifically in the underdeveloped areas has further strengthened the transmission tower market. This in turn has led to increased utilization of structural steel for manufacturing different types of transmission towers.
Rising environmental impacts are encouraging governments, manufacturers and consumers to use environmentally sustainable products, which is further expected to escalate demand for structural steel. Major manufacturers are developing technically advanced steel products which can help in waste reduction and can be suitably recycled. Buildings made by these products do not include mandates such as treatments for preventing insect infestation, mold, and decay, which is anticipated to strengthen the market growth.
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Building & construction is among the most lucrative application segment for structural steels. Growing number of supportive initiatives by the governments across the regions to provide subsidies and funds to make housing affordable, especially for the lower- & middle-income factories has resulted in increased consumption of structural steel in residential construction.
Asia Pacific is the dominant regional segment for structural steel with rapid demand coming from China, India and Southeast Asian countries such as Indonesia, Vietnam, and Thailand. Demand in these countries is boosted by extensive infrastructural investments. North America and Europe have also witnessed moderate growth rates in the market.
The global market if highly competitive and moderately fragmented. Mergers & acquisitions and joint ventures are some of the key strategies undertaken by the major market players in the industry. Some of the key structural steel market players includes Arcelor Mittal S.A., Hebei Group, Baosteel Group Co., Nippon Steel & Sumitomo Metal Corporation, POSCO, Tata Limited, Wuhan Group, and Bohai Group.
Report Ocean Market Research has segmented the global greenhouse film market on the basis of Product type and region:
Structural Steel by Product Outlook (Revenue, USD Million, 2015 – 2026)
Heavy Structural Steel
Light Structural Steel
Structural Steel by Application Outlook (Revenue, USD Million, 2015 – 2026)
Non-Residential
Industrial
Commercial
Offices
Institutional
Others
Residential
Structural Steel by Region Outlook (Revenue, USD Million, 2015 – 2026)
North America
U.S.
Canada
Europe
Germany
UK
France
Rest of Europe
Asia-Pacific
China
India
Japan
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Rest of Asia-Pacific
Latin America
Brazil
Mexico
Rest of Latin America
Middle East and Africa
Saudi Arabia
UAE
Table of Content
Chapter 1: Global Structural Steel Industry Overview
Chapter 3: Market Dynamics
Chapter 4: Top Company Profiles
Chapter 5: Global Structural Steel market Competition, by Players
Chapter 6: Global Market Size by Regions
Chapter 7: Global Market Segment by Application
Chapter 8: Global Structural Steel Industry Segment by Type
Chapter 9: Market Chain, Sourcing Strategy, and Downstream Buyers
Chapter 10: Strategies and key policies by Distributors/Suppliers/Traders
Chapter 11: Key Marketing Strategy Analysis, by Market Vendors
Chapter 12: Market Effect Factors Analysis
Chapter 13: Global Structural Steel market Size Forecast (2023-2031).
Continue….
Reasons to Buy This Report
(A) The research provides valuable insights for top administration, policymakers, professionals, product advancements, sales managers, and stakeholders in the market. It helps them make informed decisions and strategize effectively.
(B) The report offers comprehensive analysis of Structural Steel market revenues on a global, regional, and country level, projecting trends until 2031. This data allows companies to assess their market share, identify growth opportunities, and explore new markets.
(C) The research includes segmentation of the Structural Steel market based on types, applications, technologies, and end-uses. This segmentation enables leaders to plan their products and allocate resources based on the expected growth rates of each segment.
(D) Analysis of the Structural Steel market benefits investors by providing insights into market scope, position, key drivers, challenges, restraints, expansion opportunities, and potential threats. This information helps them make informed investment decisions.
(E) The report offers a detailed analysis of competitors, their key strategies, and market positioning. This knowledge allows businesses to better understand the competition and plan their own strategies accordingly.
(F) The study helps evaluate Structural Steel business predictions by region, key countries, and top companies, providing valuable information for investment planning and decision-making.
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