Press release
Structural Steel Market Growth 2024 By Regional Manufacturers Tata Steel, British Steel, Severstal, voestalpine, POSCO, Erdemir, Nucor Corporation, ArcelorMittal
Structural Steel Market
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.
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Structural Steel Market size is set to surpass USD 420 billion by 2024. Growing awareness among consumers owing to benefits including design flexibility, faster completion and energy efficiency of prefabricated building projects using heavy and light sized products is anticipated to drive demand of structural steel products.
Increase of infrastructure development projects in China, Japan, South Korea and India with improving standards of living and necessities for sanitation are likely to stimulate product demand.
Company profiled in this report based on Business overview, Financial data, Product landscape, Strategic outlook & SWOT analysis:
1. ArcelorMittal S.A.
2. Shagang Group Company Limited
3. Hesteel Group Company Limited
4. Nippon Steel & Sumitomo Metal Corporation
5. POSCO
6. VISA Steel
7. Steel Authority of India Limited
8. Anyang Iron & Steel Group Co., Ltd.
9. Baosteel Company
10. Tata Steel
11. China Steel Corporation
12. Novolipetsk Steel
13. Evraz Group
14. Hyundai Steel Co., Ltd. (HSC)
15. Wuhan Iron & Steel (Group) Corp.
16. Shaaban Group
17. Gerdau Steel India Pvt. Ltd.
18. Steel Limited
19. Maanshan Iron and Steel Company
20. Nucor Corporation
21. Nanjing Iron & Steel United Co., Ltd.
22. Erdemir Group
23. Hunan Valin Iron & Steel Group Co., Ltd.
24. HBIS Group Co. ltd
25. JFE Steel Corporation
26. Voestalpine AG
27. Severstal
28. SSAB AB
29. Liberty OneSteel Manufacturing
30. Gunung Steel Group
31. Jindal Steel and Power Ltd.
32. Salzgitter AG
33. Stahlwerk Thuringen GmbH
34. AFV Acciaierie Beltrame SpA
35. Duferdofin-Nucor Srl
36. Riva Fire SpA
37. Celsa Cia Espanola de Laminacion SL
38. British Steel
39. POSCO SS Vina
40. AK Steel Holding Corporation
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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 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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China structural steel market size is poised to surpass USD 130 billion up to 2024. Growing preference for high quality structural developments along with increasing investment in steel industry supported by adoption of sustainable mining techniques will have a positive impact on product demand. Opportunities for companies that can offer technologies to support work force productivity, energy saving will surge market growth.
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.
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