Global Structural Steel Market: Overview
The structural steel is a type of steel which is particular used for building construction. They come in variety of shapes and size depending upon their applications. The properties of structural steel such as durability, high tensile strength, easy fabrication makes them suitable for a wide range of application. Owing to this, they are widely used in both residential and non-residential constructional projects.
An upcoming Transparency Market Research report on the global structural steel market promises to cover all essential details that could help bolster growth in the future. The report covers key trends, challenges, geographical distribution, and the competitive landscape of the global structural steel market.
Global Structural Steel Market: Notable Developments
Some of the notable developments in the global structural steel market are
- Indian government has launched a scheme called Pradhan Mantri Awas Yojana (PMAY). Under this more than 14 million houses will be constructed in the coming years. This is expected to increase the demand of structural steel.
- Similarly, In the U.S., Department of Energy has introduced Advanced Manufacturing Office (AMO). It works on a broad spectrum and help private and public bodies to develop commercialize technologies to succeed in the global structural steel market. This is expected to encourage entrepreneurship in the country and thus help in commercial infrastructural development.
Some of the key players operating in the global structural steel market are Arcelor Mittal S.A., Baogang Group, Bohai Steel Group Co. Ltd, Hebei Steel Group, JSW Steel Limited, Baosteel Group Corporation, Nippon Steel & Sumitomo Metal Corporation (NSSMC, and Tata Steel Limited.
Global Structural Steel Market: Key Growth Dynamics
The structural steel market is likely to grow at a noteworthy pace in the coming years. This is because of the growing application of the structural steel in the several industries. Construction, transport, mining, ship building, and energy are some of the industries which are key end user of structural steel. The properties of structural steel such as excellent tensile strength, durability, and corrosion resistance make it prefect for various applications.
In the recent years, industrial buildings have become a crucial aspect of architecture. Structural steel finds applications in large facades, walls and glass surfaces, stairwells, curvilinear roofs, and various other engineering materials.
Apart from this, there has been a significant increase in residential and non-residential construction in several parts of the world. This is a vital factor that is expected to swell the demand for structural steel. This is expected to offer a significant boost to the structural steel market.
Moreover, real estate companies in developing region are targeting to set up shopping malls and office spaces in the several parts of the cities to improve infrastructural. This factor is expected to drive construction spending and it is anticipated to propel consumption of structural steel in commercial sector.
Global Structural Steel Market: Regional Outlook
Geographically, Asia Pacific is expected to dominate the global structural steel market in the coming years. This is mainly because of the several initiatives taken by the government to improve housing situation in various countries. Apart from this, growing employment rates and expansion of existing infrastructure are two strong factors expected to propel construction industry in the region. The flourishing construction industry in the region has a direct impact on the growth of the structural steel market.
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The regional analysis covers:
- North America (U.S. and Canada)
- Latin America (Mexico, Brazil, Peru, Chile, and others)
- Western Europe (Germany, U.K., France, Spain, Italy, Nordic countries, Belgium, Netherlands, and Luxembourg)
- Eastern Europe (Poland and Russia)
- Asia Pacific (China, India, Japan, ASEAN, Australia, and New Zealand)
- Middle East and Africa (GCC, Southern Africa, and North Africa)
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.