Press release
Structural Steel Fabrication Global Market Report 2025: Anticipated Market Growth and Key Insights
Structural Steel Fabrication Market Size
What Is The Projected Market Size Of The Global Structural Steel Fabrication Global Market Report 2025 And Its Growth Rate?
•It grows from $166.33 billion in 2024 to $181.48 billion in 2025 with a CAGR of 9.1%
•The growth is attributed to factors such as construction boom, industrialization, urbanization trends, government infrastructure investments, and cost-effectiveness.
•The structural steel fabrication market is projected to grow strongly, reaching $262.7 billion in 2029 with a CAGR of 9.7%
•This growth can be credited to drivers like infrastructure renewal, population growth, sustainable construction practices, energy sector growth, and technological innovation in design.
What Is Driving The Growth In The Structural Steel Fabrication Global Market Report 2025?
The growth of the structural steel fabrication market is mainly propelled by the burgeoning construction industry. A combination of ongoing urbanization, impending infrastructural projects, and a growing population base underpin the rise of the construction industry. The industry's frequent use of structural steel due to its strength, durability, tensile strength, and low cost makes it the preferred choice for creating and fabricating high-rise buildings, residential structures, bridges, and other infrastructures. For instance, the Office for National Statistics indicated in February 2024 that the total annual construction output saw a 2.0% increase in 2023 compared to 2022, charting the third consecutive year of growth. Consequently, the sprouting construction industry serves as a driver for the growth of the structural steel fabrication market.
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Who Are the Key Players Driving Structural Steel Fabrication Global Market Report 2025 Growth?
Key players in the market include:
•ArcelorMittal SA
•POSCO
•Nippon Steel & Sumitomo Metal Corporation
•Tsingshan Holding Group
•Tata Steel Limited
•JSW Steel Limited
•Gerdau S.A.
•Sujana Group
•Mayville Engineering Company Inc.
•BTD Manufacturing Inc.
•O'Neal Manufacturing Services Inc.
•Defiance Metal Products LLC
•Ironform Inc.
•Richard L. Sensenig Company
•Lenex Steel LLC
•EVS Metal Inc.
•Watson Engineering Company Inc.
•LancerFab Tech Pvt Ltd.
•Zamil Steel Buildings India Private Limited
•Apex Buildsys Limited
•STI Group
•Structural Steelworks Inc.
•Structural Fabrications Ltd.
•Steel LLC
What Are The Key Trends In The Structural Steel Fabrication Global Market Report 2025?
Major Trends Include:
•Rise in safety and quality standards
•Adoption of 5G technology for communication and collaboration
•Use of augmented reality (AR) and virtual reality (VR)
•Emphasizing customization and personalising fabricated structures
•Collaborations for research and development in fabrication techniques
What Are The Segments Of The Global Structural Steel Fabrication Global Market Report 2025?
The market segments are:
1) By Service: Metal Welding, Machining, Metal Forming, Metal Cutting, Metal Shearing, Metal Folding, Metal Rolling, Metal Punching, Metal Stamping
2) By Product: Carbon Steel, Alloy Steel, Stainless Steel, Tool Steel
3) By End-Users: Aerospace, Automotive, Construction, Defense And Aerospace, Electronics, Energy And Power, Manufacturing, Mining, Other End-Users
Which Region Leads The Structural Steel Fabrication Global Market Report 2025?
Asia-Pacific claimed the largest share in the structural steel fabrication market in 2024. The market report covers regions including Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
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What Is Covered In The Structural Steel Fabrication Global Market Report 2025 Global Market Report?
- Market Size Analysis: Analyze the Structural Steel Fabrication Global Market Report 2025 size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Structural Steel Fabrication Global Market Report 2025 for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Structural Steel Fabrication Global Market Report 2025 growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Structural Steel Fabrication Global Market Report 2025.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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