Rising Investments In Residential Buildings Fuel Growth In The Steel Structure Market: A Key Factor Shaping the Future of the Steel Structure Market in 2025

What Are the Projections for the Size and Growth Rate of the Steel Structure Market?
In recent years, there has been a robust growth in the steel structure industry. The market size is expected to increase from $118.15 billion in 2024 to $124.72 billion in 2025, with a Compound Annual Growth Rate (CAGR) of 5.6%. The growth during the historic period is on account of increased demand for long-lasting construction materials, development in infrastructure, increased investment in industrial and commercial construction, the expansion of the real estate sector, and a rising preference for prefabricated construction.

Anticipated robust expansion can be observed in the steel structure market size in the upcoming years. The market is projected to swell to $153.25 billion by 2029, growing at a compound annual growth rate (CAGR) of 5.3%. The escalation during the projected period can be credited to increasing need for materials with high strength yet lightweight, proliferation in commercial construction projects, amplified utilization of steel in residential constructions, growing requirement for buildings resistant to earthquakes, and heightened preference for pre-engineered steel buildings. Key trends during the forecast period encompass adoption of cutting-edge steel alloys, creation of modular steel constructions, progress in steel recycling methodologies, incorporation of BIM (building information modeling), and evolution in high strength steel.

What Are the Main Catalysts for Growth in the Steel Structure Market?
The growth of the steel structure market is anticipated to increase on the back of rising investments in residential building construction. These residential buildings, constructed mainly for human occupancy, include houses, flats, and condos. Factors such as population growth, urbanization, and low interest rates are boosting investment in residential building construction due to the escalating demand for housing. Steel structures are renowned for their superior strength, durability, and design versatility, which not only facilitates innovative architectural designs but also enhances safety against natural calamities. For instance, the Australian Bureau of Statistics, a government agency based in Australia, reported in March 2024 that there were 30,992 newly constructed private house dwellings. This signifies a growth of 3.7% from December 2023 and a jump of 14.6% from March 2023. Furthermore, the completion rate for other new private residential buildings climbed to 14,844 dwellings, reflecting a 5.6% increase in relation to December 2023. Thus, the escalating investments in residential buildings are fuelling the growth of the steel structure market.

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Which Businesses Are at the Forefront of Steel Structure Market Development?
Major companies operating in the steel structure market are ArcelorMittal S.A., Posco Holdings Inc., ThyssenKrupp AG, Nucor Corporation, JFE Holdings Inc., Maanshan Iron and Steel Company Limited, Tata Steel Limited, Steel Dynamics Inc., United States Steel Corporation, Hyundai Steel Co. Ltd., JSW Steel Limited, Voestalpine AG, Gerdau S.A., Ansteel Group Corporation Limited, China Steel Corporation, EVRAZ plc, Salzgitter AG, Steel Authority of India Limited, BlueScope Steel Limited, SSAB AB, Outokumpu Oyj, Commercial Metals Company, Severstal PAO, Liberty Steel Group Holdings UK Ltd., Nippon Steel Corporation

What Are the Latest Innovations in the Steel Structure Market?
Leading businesses in the steel structure market are creating inventive products using high-tech methods like steel building solutions technology to boost building productivity, cut down the construction time, and amplify the overall structural soundness. The said technology enhances steel constructions by offering highly advanced design, exact engineering, and effective construction techniques that strengthen the structure, speed up construction, and optimize the use of materials. For example, in August 2022, APL Apollo, a structural steel tubes and pipes manufacturing company based in India, unveiled its next-generation steel building solutions for structural steel tubes. These tubes, known as high-strength welded steel tubes (HSS), are designed for use in bridges, towers, cranes, highway barriers, and signage supports, providing extraordinary strength and visual appeal. Innovations like precise engineering and pre-fabrication in these tubes simplify the construction process, expedite project timelines, and reduce expenses.

How Is the Steel Structure Market Segmented?
The steel structuremarket covered in this report is segmented -

1) By Type: Carbon Steel Structure, Alloy Steel Structure, Special Steel Structure, Other Types
2) By Product: Angles, Channels, Rounds
3) By Application: Industrial, Commercial, Institutional, Residential

Subsegments:
1) By Carbon Steel Structure: Low Carbon Steel Structures, Medium Carbon Steel Structures, High Carbon Steel Structures, Structural Steel Beams and Columns
2) By Alloy Steel Structure: Low Alloy Steel Structures, High Alloy Steel Structures, Alloy Steel Beams and Columns, Pre-Engineered Alloy Steel Structures
3) By Special Steel Structure: Tool Steel Structures, Spring Steel Structures, Stainless Steel Structures, Corrosion-Resistant Steel Structures
4) By Other Types: Composite Steel Structures, Precast Steel Structures, Fabricated Steel Structures, Modular Steel Structures

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Where Is the Steel Structure Market Growth Most Prominent?
Asia-Pacific was the largest region in the steel structure market in 2024. The regions covered in the steel structure market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

What Is Covered In The Steel Structure Global Market Report?

- Market Size Analysis: Analyze the Steel Structure Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Steel Structure Market 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 Steel Structure Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Steel Structure Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.

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