Structural Steel Market Trend, Revenue & Regional Analysis 2018-2024 By Top Players - British Steel, Severstal, Tata Steel, POSCO, voestalpine, Erdemir, Nucor Corporation, ArcelorMittal

According to a new research report by Global Market Insights, Inc. Structural Steel Market is set to surpass USD 420 billion by 2024.

Global structural steel market share is moderately fragmented with major players including ArcelorMittal, POSCO, SAIL, Erdemir Group, Nucor Corporation, Voestalpine AG, Jindal and TATA. Other prominent industry participants include Evraz Group, Shaaban Group, BCI Limited, and Riva Fire.

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Structural steel industry size from industrial application may reach up to 125 million tons by 2024. Rise in consumer awareness towards green construction material by further reducing greenhouse gas emissions will favor product demand.

Structural steel industry size from energy development application is anticipated to surpass 45 million tons by 2024. Optimizing costs and risks of installing large offshore platforms and different construction strategies have been developed including the use of the product, thus stimulating product demand.

Structural Steel Market By Application

• Residential

• Non-Residential
o Commercial
o Institutional
o Offices
o Health Buildings

• Industrial
o Energy Development
o Onshore
o Offshore
o Station & Hangers
o Bridges
o Others

• Others

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Structural steel exhibits excellent ductility, high strength, seismic resistance, and speed of erection. Rising application scope in non-residential applications including healthcare buildings, data centers, institutions, airports, offices and stadiums is projected to foster product demand. Increasing emphasis on technological development will facilitate faster manufacturing process with uniformity, user-friendly procedures to reduce quality issues will boost industry growth.

Light sectional structural steel segment is anticipated to be over 110 million tons in the projected timeframe. It has eminent usage in residential and small building manufacturing owing to its light weight, and quick building ability without using heavy tools or equipment. Manufacturers are engaged in developing cost-efficient equipment with low environmental impacts which will foster market growth.

Structural Steel Market By Product

• Heavy Sectional Steel

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o Sheet Pile
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o Pipe
o HSS

• Light Sectional Steel

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o H Shaped
o Sheet Pile
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o Pipe
o HSS

• Rebar

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U.S. structural steel market size from commercial application will witness significant gains of over 5%. Growing prefabricated buildings has led to increased consumption of product supported by regulations to reduce emissions and use of recycled material will contribute towards regional product demand.

About Global Market Insights:
Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider; offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.

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