The Report 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.
Access Research Report of Structural
Steel Market@ 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)
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
·
Residential
Structural Steel Regional Outlook (Volume, Kilo Tons;
Revenue, USD Million; 2014 - 2025)
·
North America
·
Western Europe
·
Eastern Europe
·
North Asia
·
Southeast Asia
·
South Asia
·
Oceania
·
Central & South America
·
Middle East & Africa
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.
