Press release
North America Structural Steel Fabrication Market Size, Top Manufacturers and Outlook 2023-2028
North America Structural Steel Fabrication Market
How Big Is the North America Structural Steel Fabrication Market?
The North America structural steel fabrication market size reached US$ 17.7 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 21.4 Billion by 2028, exhibiting a growth rate (CAGR) of 3.1% during 2023-2028.
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What is Structural Steel Fabrication?
Structural steel fabrication refers to the process of cutting, shaping, assembling, and welding steel components to create structural elements, including beams, columns, trusses, and frames, that form the skeleton of buildings and other structures. It encompasses cutting, bending, and shaping steel sections according to the design specifications. It also includes surface treatment processes, such as sandblasting, painting, and galvanizing, to protect the steel from corrosion and enhance its longevity. It provides the framework for supporting loads and ensuring the integrity of the structure. Furthermore, as it offers high strength and durability, ensuring the long-term stability and safety of structures, the demand for structural steel fabrication is rising in North America.
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North America Structural Steel Fabrication Industry Trends and Drivers:
At present, the increasing demand for structural steel fabrication due to its recyclability and reduced environmental footprint compared to traditional construction materials like concrete represents one of the crucial factors impelling the growth of the market in North America. Besides this, the rising adoption of building information modeling (BIM) and computer-aided design (CAD), in the structural steel fabrication process is contributing to the growth of the market. In addition, the growing construction of various premium residential apartments and commercial buildings is offering a favorable market outlook in the region. Apart from this, the increasing allocation of significant funds by the governing agencies and regulatory bodies to upgrade and expand their transportation networks, including roads, bridges, and railways, is supporting the growth of the market in North America.
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What Is Included In Market Segmentation?
The report has been segmented the market into following categories:
Breakup by Service:
• Metal Welding
• Machining
• Metal Forming
• Metal Cutting
• Metal Shearing
• Metal Folding
• Metal Rolling
• Metal Punching
• Metal Stamping
Breakup by End Use Industry:
• Construction
• Automotive
• Manufacturing
• Energy and Power
• Electronics
• Others
Breakup by Country:
• United States
• Canada
Key Benefits for Stakeholders:
• IMARC's report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the North America structural steel fabrication market from 2017-2028.
• The research study provides the latest information on the market drivers, challenges, and opportunities in the North America structural steel fabrication market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the North America structural steel fabrication industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.
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Contact us:
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Email: sales@imarcgroup.com
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About Us:
IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.
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