About Structural Steel
Structural Steel is used in making of construction materials. Growing Construction infrastructure in both developed and developing economies growing the structural steel market. Rising application in non- residential segment comprising data centers, healthcare facilities, airports, retail stores are expected to grow market in long run.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 5.3% |
The leading organizations in the market to avail competitive advantage makes new innovations in balloon technology that deliver a qualitative and safe user experience to the customer. Also, organizations are participating in new festivals and challenges and try to improve their technology defects. Analyst at AMA Research estimates that Global Vendors will contribute the maximum growth to Global Structural Steel market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Arcelor Mittal S.A. (Europe), Nippon Steel & Sumitomo Metal Corporation (Japan), Baosteel Group Co. (China), POSCO (South Korea), Wuhan Group (China), Tata Steel Limited (India), Anshan Iron & Steel Group Corporation (China), Anyang Group Co. Ltd. (China), Baogang Group (China) and Hyundai Steel Co. Ltd. (South Korea) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Arcelor Mittal S.A. (Europe).
Segmentation Overview
AMA Research has segmented the market of Global Structural Steel market by Type (Carbon Structure Steel, Alloy Structure Steel and Others), Application (Residential and Non-residential [Industrial, Commercial, Offices, Institutional]) and Region.
On the basis of geography, the market of Structural Steel has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Offline Retail will boost the Structural Steel market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Increasing Application in Residential Buildings
Market Growth Drivers:
Hundred Percent Ecological with No Degradation and Fire Resistant, Durable and Ductile in Nature
Restraints:
Increasing Prices of Raw Material
Opportunities:
Increasing Public Infrastructure Globally and Growing Construction Industry across Globe
Market Leaders and their expansionary development strategies
In April 2023, Tata Steel has signed an agreement with A&B Global Mining to harness new business development opportunities and deliver mine technical services.The steel major will closely work with ABGM India which will interface with their South African entity to explore business opportunities in India and abroad besides utilise each other's technical and strategic strengths to deliver projects across the mining and metals, including the steel value chain,
In November 2023, SSAB announce the launch of the Strenx Certified Fabricator, an exclusive initiative designed to recognize and promote excellence in the field of high strength steel fabrication. Strenx Certified Fabricator connects a select group of fabricators with a proven ability to provide OEMs with state-of-the-art steel components and pre-fabricated structures. They have demonstrated exceptional skill and expertise in working with SSAB’s Strenx performance steel.
Key Target Audience
Construction Material manufacturers, Construction Businesses, Government Institutes and Regulatory bodies, Research and consulting firms and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.